| Head of World Bank Will Raise Capital Five Billion Dollars |
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| Friday, 23 April 2010 10:49 | |||||||
Page 1 of 2 Washington
- World Bank President Robert Zoellick, said Thursday he hoped to reach
agreement on outstanding capital increase for the agency for five
billion dollars on Sunday."Shareholders have to decide whether to support the first capital increase at the World Bank in more than 20 years," Zoellick said in a press conference ahead of meetings twice a year from 186 members of the development bank. "This is a once in a generation to overcome the demand impact of the crisis once in a generation," he asserted. "The package we estimate the proposed increase in paid up capital of 3.5 billion dollars due to a general capital increase and approximately 1.5 billion dollars in a selective capital increase related to changes of ownership," said Zoellick. The Bank also discussed the increased investment of these economies are growing rapidly in line with the increase in their voting rights, with the cost of the developed countries. "As an example of multilateralism at work and share the load, the package has more than half of the resources coming from developing countries," the bank chief noted. | Antaranews.com | tenderoffer.biz |
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