Governments agree $86.2 billion boost to World Bank capital
News||17 June 2010|update 71|
As predicted (see Update 70) shareholders agreed in April to a significant increase in the capital that guarantees the lending of the International Bank for Reconstruction and Development (IBRD, the World Bank's middle-income country lending arm). $58.4 billion was guaranteed through a general capital increase, given by all shareholders in proportion to their voting share at the Bank. However, only $3.5 billion will actually be sent to the Bank (known as 'paid-in capital'); the rest remains a commitment to pay should the Bank need the cash ('callable capital'). A further $27.8 billion capital (including $1.6 billion paid-in capital) was guaranteed through a selective capital increase, paid for by shareholder governments whose voting share increased through April's governance reforms (see article).
The International Finance Corporation (IFC, the World Bank's private sector arm) did not receive a general capital increase, but did gain a $200 million selective increase from governments whose shareholding increased because of voting reform (see article).
This text may be freely used providing the source is credited.
Published: 17 June 2010 , last edited: 17 June 2010
Viewings since posted: 4577
Climate Investment Funds Monitor 7: April 2013 25 April 2013
Working paper: The private sector and climate change adaptation: International Finance Corporation investments under the Pilot Program for Climate Resilience 24 April 2013
The UK's role in the World Bank and IMF: Department for International Development and HM Treasury 13 March 2013
The World Bank and industrial policy: Hands off or hands on? 6 December 2012
Climate Investment Funds Monitor 6: October 2012 26 October 2012