WASHINGTON, April 19, 2024 New financial instruments designed to boost lending capacity and enable the World Bank Group to take on more risk for shared global challenges have received a significant endorsement. A set of 11 countries announced commitments today for the Portfolio Guarantee Platform, hybrid capital mechanism, and new Livable Planet Fund totaling $11 billion.
New Financing Tools Receive Major Funding Boost worldbank.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from worldbank.org Daily Mail and Mail on Sunday newspapers.
In meeting with Chinese Premier Li in Beijing, US Treasury Secretary Yellen raises concerns about industrial overcapacity and emphasises importance of working together on global challenges such as debt relief for less developed countries.
India Inc s credit ratings saw more upgrades than downgrades during October-March 2024, despite challenges like rising borrowing costs and supply constraints due to geopolitical issues. Strong domestic consumption and government infrastructure spending contributed to this trend. Sectors like roads, renewables, and hospitality drove upgrades, while export-oriented sectors faced downgrades. The credit ratio stabilized at pre-COVID levels, indicating positive credit quality outlook for fiscal 2025. However, uncertainties like monsoons and geopolitical landscape changes remain potential risks.