2023-10-13 20:24:19
“Financing a different world”
We must find how to finance a different world, one that is capable of preserving the climate, controlling pandemics if not preventing them, producing abundant food and overcoming fragility and poverty.
We began the first step of this journey last April, when the World Bank managed to extract $40 billion over 10 years from its balance sheet by adjusting its loan-to-equity ratio. We created a portfolio guarantee mechanism and launched a hybrid capital instrument. These new tools allow us to take on more risk and might increase our lending capacity by $157 billion over a decade.
Donors, shareholders and philanthropic organizations must join us and bring their ambition to this fight, otherwise these instruments will only be wishful thinking.
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#poverty #livable #planet
