World Bank members agree to general capital increase

2010-04-26 08:22 BJT

In addition, World Bank members agreed to a general capital increase of 3 and a half billion US dollars.

This is the first in more than 20 years to make up for the heavy lending by the Bank during the financial crisis.

Robert Zoellick, World Bank President, said, "The additional capital means that we will no longer face the possibility that we would have to cut back our lending later this year. We came into this crisis well capitalized thanks to sound financial policies. We have provided a record 105 billion dollars in financial support since the crisis began to bite in July of 2008. This additional capital means that we will be to play the role that is demanded of us."

Robert Zoellick, President of the World Bank Group, speaks with reporters during a press conference at World Bank headquarters in Washington Sunday, April 25, 2010. (AP Photo/Cliff Owen)
Robert Zoellick, President of the World
Bank Group, speaks with reporters during
a press conference at World Bank
headquarters in Washington Sunday, April
25, 2010. (AP Photo/Cliff Owen)


Editor: Zhang Pengfei | Source: