U.S. to back US$13 billion World Bank capital increase
ANBOUND
According to media reports, the President of the World Bank and the U.S. Secretary of the Treasury plan to reach an agreement that the World Bank promised to grant loans to poorer countries in priority in exchange for the U.S. $13 billion capital increase plan. China and other middle high-income developing countries may face higher financing costs. According to World Bank's statistics, last year China was the top borrower of the International Bank for Reconstruction and Development and received US$2.4 billion in funds. However, some analysts pointed out that China's capital costs will not raise immediately.