The World Bank will press for more grants and new capital from member countries, even as it leverages its balance sheet to scale up lending for responses to climate change and other global crises, its managing director of operations said on Tuesday.
The lender will rally donor support for a newly established crisis facility for the world’s poorest countries that face overlapping global crises, including severe climate events, Anna Bjerde said in an interview.
“We hope to be able to really conclude and have a very strong interest in funding this by the end of the year,” Bjerde said, adding that multiple billions of dollars were needed for the crisis facility.
Read More : World Bank Appeals for Grants and New Capital to Combat Global Crises