Chris Blattman

China moves to become third largest shareholder in World Bank

Members of the World Bank agreed on Sunday to support a $5.1 billion increase in its operating capital, the largest increase in general financing since 1988, and to give developing economies a greater say in running the antipoverty institution.

Under the changes, China will become the bank’s third-largest shareholder, ahead of Germany, after the United States and Japan. Countries like Brazil, India, Indonesia and Vietnam will also have greater representation.

Full story.

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