World Bank Lending Commitments Hits Record High of $133Bn as Calls for Strengthened Policy Support in Developing Economies Intensify
The World Bank’s lending commitments hit an all-time high of $133 billion last fiscal year, with gross disbursements surpassing $80 billion, according to UAE Minister of State for Financial Affairs, Mohamed bin Hadi Al Hussaini, who chaired the 110th Development Committee Meeting at the just ended IMF/World Bank Annual Meetings.
Minister Al Hussaini praised the World Bank’s recent financial advancements, underpinned by the Framework for Financial Incentives and innovative instruments such as hybrid capital and portfolio guarantees, enhancing shareholder support and lending capacity.
The minister, however, highlighted persistent challenges faced by developing economies, including financing constraints, inflationary pressures, food insecurity, and environmental stresses from climate change to resource scarcity.
He therefore called on the World Bank Group (WBG) and the International Monetary Fund (IMF) to work closely with developing nations to strengthen institutional frameworks, debt management, and resource mobilization.
He further advocated for continued investment in gender equality, human capital, and digital innovation, underscoring the need to address inequalities within and among nations.
Emphasizing the importance of resilience, he stated that sustainable and inclusive economic growth is critical to helping client countries achieve long-term development goals amidst rising global challenges.
