Yellen hosted talks with global finance leaders to discuss an initial series of balance sheet changes that would allow the World Bank to lend an additional $50 billion over 10 years while maintaining its top AAA credit rating, and how to deepen those efforts with her and other multilateral development banks. Yellen said the changes already approved have strengthened the World Bank’s mission, but “bolder steps” are needed to ensure it works to end extreme poverty, increase shared prosperity, and better address 21st century challenges such as climate change, fragility, and pandemics.

Reuters