In closing the Spring Meetings, World Bank Group shareholders approved a $ 13 billion capital increase and further reforms to strengthen the capacity of IBRD and IFC to meet global challenges. today and tomorrow.
The financial envelope includes general and selective increases in subscribed capital of $ 13 billion, of which $ 7.5 billion is for IBRD and $ 5.5 billion for IFC. It also provides for an increase in the callable capital of IBRD.
The fundamental reforms proposed at the institutional and financial levels bring about profound transformations. These include measures to improve the internal efficiency and increase the resources of the World Bank Group, and a capital increase to support the goal of a financially viable and effective Group.
The Bank hopes that the commitments made under this package and the implementation of the Vision will be regularly monitored and reported in an integrated manner, and will be evaluated by the Bank. independent entities after five years.
Similarly, the World Bank requests that the budgets of the Board and senior management, including their salaries, be reviewed by the relevant bodies in order to eventually define additional cost reduction measures to make a significant contribution to the financial envelope. .
