WASHINGTON (Reuters) - The World Bank said on Saturday its shareholders had endorsed a $13 billion paid-in capital increase, a series of internal reforms and a set of policy measures to strengthen the international lender’s capabilities.
World Bank President Jim Yong Kim attends the Development Committee meeting during the IMF/World Bank spring meeting in Washington, U.S., April 21, 2018. REUTERS/Yuri Gripas
The package agreed to consists of $7.5 billion paid-in capital for the International Bank for Reconstruction and Development and $5.5 billion paid-in capital for the International Finance Corporation, through both general and selective capital increases, as well as a $52.6 billion callable capital increase for IBRD, the World Bank said in a statement.
Reporting by David Lawder; Editing by Paul Simao