Donors negotiate major expansion of World Bank’s role in global aid

A huge reform of World Bank operations in poor countries is underway. Donors are positive about a plan to expand the bank’s financial resources by almost USD 25 billion. The Bank’s plan can be seen as a way to reclaim the Bretton Woods institution’s position as the leading actor on the global development scene in the wake of the Sustainable Development Goals and the emergence of new development banks backed by China.