- David Malpass's departure as World Bank head is expected to hasten reforms to more effectively help poorer countries mitigate and plan for climate change.
- The G11 group of developing nations warned against anything that would jeopardize the bank's triple-A rating and thereby increase its funding costs.
- The World Bank could provide more climate finance by expanding its balance sheet and taking on more risk.
- The US Treasury is assembling a shortlist of potential Malpass successors, which is expected to include Samantha Power, Rajiv Shah, and Ngozi Okonjo-Iweala.
- Rating agency S&P said last year that it could lower the bank’s rating “if management — contrary to our expectations — adopts more aggressive financial policies.”.
World Bank member nations split over plans to expand balance sheet
Developing nations have warned against reshaping the World Bank in a way that would imperil its triple-A rating and increase its funding costs. The US Treasury is assembling a shortlist of potential successors, including Samantha Power, Rajiv Shah, and Ngozi Okonjo-Iweala.