The new steps, still in discussion, come on top of initial steps approved in April that will boost World Bank lending by up to $50 billion over the next decade.
World Bank President Ajay Banga will unveil measures, including the pause on repayments and embedding catastrophe insurance into new loans in a speech in Paris on Thursday.
During meeting with Banga a day before former Mastercard CEO takes office at World Bank, Yellen ‘conveyed her strong desire for Treasury to continue close collaboration’ with him.
Banga, nominated for the post by US President Joe Biden, will take over the role on 2 June. He was the sole contender to replace departing chief David Malpass whose term ends next month.
Banga, 63, recently completed a 3-week world tour to meet govt leaders, civil society groups and others in borrowing and donor countries as he campaigned for the bank's top post.
These discussion will focus on India’s development priorities, the World Bank, & global economic development challenges, the Treasury said in a statement.
Banga, nominated by the US to lead World Bank, gained traction with leading members, a sign that he will likely have a smooth ride to confirmation by the bank's executive board.
While releasing 'India Employment Report 2024', V Anantha Nageswaran said govt can't solve 'all social, economic challenges'. Congress leader Kharge says CEA protecting 'dear leader'.
In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.
The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.
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