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.

February 20, 2023 . 9:54 AM

1 min read

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.”.