Finance Minister Pranab Mukherjee has said, the World Bank needs to find ways to improve its capital base so that it can enhance lending to developing countries. He underlined that with another crisis looming, prioritisation of activities is the need of the hour.Mr. Mukherjee said this while intervening during the World Bank's Development Committee meeting on Global Development Issues and the World Development Report 2012 on Gender in Washington. He said, at the top of the World Bank's list of priorities should be to address its lack of financial capacity, as well as that of the International Finance Corporation and work toward a strong capital base.Mr. Mukherjee stressed that the World Bank's focus needs to be on critical areas such as poverty alleviation, food price inflation, financing for climate change and meeting the energy needs of the poor.
News On AIR | September 25, 2011 5:40 PM
Pranab asks World Bank to improve its capital base