The World Bank has raised its lending capacity by 50%, positioning itself to offer a record $150 billion over the next decade to various countries, with a strong emphasis on climate projects.
The move, achieved through balance sheet optimization, spells significant benefits for India, the Bank's largest client, with new funds directed towards areas ranging from climate resilience to rural development.
"India is the biggest client and will have a bigger share of funding available from the World Bank," Auguste Tano Kouames, World Bank's country director (India) told Mint in an interview.
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