World Bank’s model ‘insufficient’ for global threats – Yellen
US Treasury secretary says institution needs to do more on climate change
The World Bank’s current model is “insufficient to meet the moment”, as the world grapples with climate change, pandemics and conflict, US Treasury secretary Janet Yellen said on February 9.
“In today’s world, sustained progress on poverty alleviation and economic development is simply not possible without addressing the global challenges that face us all,” Yellen said. She told an audience in Washington, DC that the World Bank’s model in which countries borrow to invest in development projects
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