The World Bank’s big shareholder governments sparred on Monday over a request for up to $5bn in new equity to support lending to middle-income countries even as they commended its efforts to fight the crisis.
Bank officials say the money is needed to replenish surplus capital used up by its crisis-fighting operations. The bank ramped up lending to middle income nations to a record $33bn in the fiscal year to June 30 as part of a three-year $100bn (€68bn, £63bn) burst of lending to support global demand.
