U.S. Treasury Secretary Janet Yellen on Wednesday will host a roundtable discussion on further steps to evolve the World Bank and other development lenders to tackle climate change and other global crises beyond a $5 billion annual World Bank lending expansion, the Treasury said.
The discussion on the sidelines of the World Bank and International Monetary Fund Spring Meetings will bring together finance ministers from major shareholders and borrowing countries that will cover "ways to maintain momentum to evolve the multilateral development banks to better meet current challenges," the Treasury said in a statement.
"This was the low-hanging fruit. These were the things we could accomplish in six months after the charge went to the bank," he told an event hosted by the Brookings Institution on Monday. "We definitely don't view that as a stopping point." A senior Treasury official said Yellen would discuss changes aimed at harnessing more private capital and creating public-private partnerships to tackle climate change and other global problems such as pandemic preparedness and economic fragility.
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