World Bank: Finance
The question
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, with reference to the speech by the Minister of State for International Development at the Fourth International Conference on Financing for Development in Seville on 2 July, what reforms are required for the UK Government to support a capital increase for the World Bank’s International Bank for Reconstruction and Development.
Answered by Stephen Doughty
The UK government supports a capital increase for the World Bank's International Bank for Reconstruction and Development subject to reforms in three areas. Firstly, implementation of reforms aimed at boosting lending from the Bank's existing resources. Secondly, implementation of reforms to improve the Bank's efficiency, agility, shock-responsiveness and operations in fragile settings. Thirdly, reforms to make the Bank more responsive to the voice of the lowest income and most vulnerable countries, ensuring it can support their climate and development needs.
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