The World Bank Group’s (WB) shareholders approved an additional US$13 billion paid-in capital increase, which is regarded as a “historic” increase in the bank’s lending capacity, which can also strengthen the lender’s ability to scale up resources and accelerate its poverty eradication missions.

WB noted that the capital injection package, which is expected to be formalized at the annual meetings in Bali in October, will bring annual Bank lending capacity to US$100 billion between fiscal year 2019-2030. This contrasts with approximately US$59 billion in lending in 2017.