Excerpt: “The World Bank Group announced on Tuesday a package of financial measures that will boost lending capacity and make loans from the International Bank of Reconstruction and Development more affordable at a time of immense development need. Combined with previous reforms, the package could enable more than $150 billion in additional financing over 10 years. Two key elements announced today are:
- The minimum Equity-to-Loans ratio is being lowered to 18% from 19%, generating $30 billion more in additional financing.
- In an effort to be a better partner to the countries we serve, we have removed some fees so they can borrow money and pay it back more easily. And we are charging less for loans to smaller countries that need our help the most. Together, these steps will make our loans easier to get and cheaper to repay.”
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