Momentum — and demands — have been growing for the World Bank and other powerful global and regional financial institutions to change their lending practices so that less-wealthy nations can afford to harden themselves.
With a World Bank head appointed by former President Donald Trump, U.S. Treasury Secretary Janet Yellen and others have been pledging a World Bank climate overhaul.
But so far, the governments with the biggest say, including the U.S., have been reluctant to put more of their own money into lending. As a group, they've also shied away from some of the changes in lending rules encouraged by Yellen and some others, fearing any move that could risk the World Bank's AAA credit rating and make borrowing more expensive.
Some climate advocates expressed exasperation at one of the sole concrete steps approved by World Bank member countries at last week's meetings: reducing the bank's mandated ratio of equity to loans from 20% to 19%. That 1% percent tweak is expected to free about $4 billion a year for more lending. Developing nations complain — accurately — that the United States, Europe, China and other bigger economies have caused most of the climate damage and are leaving poorer nations to deal with the results.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Bank earnings ‘off to a good start,’ with Bank of America and Goldman Sachs on deckFirst-quarter earnings from the largest U.S. banks are off to a mostly positive beginning despite a tough start to the year for the sector, analysts said.
Baca lebih lajut »
Ripple-based MoneyTap adopted by three Japanese banksSBI Holdings’s remittance arm SBI Remit has added support of its mobile MoneyTap application to three local banks, including Yamaguchi Bank, Momiji Bank and Kitakyushu Bank.
Baca lebih lajut »
ECB´s Centeno: ECB should slow or pause rate hikesBloomberg has put out an article that states a quarter-point increase in interest rates is the most the European Central Bank has to deliver at its ne
Baca lebih lajut »
Boston Marathon poses new challenge for Kipchoge: slow downWorld record-holder Eliud Kipchoge has the speed to outclass the rest of the field when he makes his Boston Marathon debut on Monday.
Baca lebih lajut »
Dollar dominance will see 'a slow erosion', not a paradigm shiftUS dollar dominance will 'erode over time' but there won't be a 'paradigm shift,' Fitch Solutions says
Baca lebih lajut »
San Antonio Missions struggling at the plate during slow start to 2023 seasonWith the worst run production and batting average in Minor League Baseball, the San Antonio Missions are just 3-6 to open the 2023 season.
Baca lebih lajut »