World Bank increases 3rd world investment, influence
WASHINGTON — U.S. Treasury Secretary Timothy Geithner says members of the World Bank have agreed to increase the funds it uses to lend for development projects by $3.5 billion.He also said the bank@@@s steering committee decided to give developing countries more of a voice in running the 186-member Washington-based institution.Geithner said Sunday the bank made a strong and compelling case for a new capital infusion and he will ask Congress to approve the U.S. portion.In addition, he said members agreed on a new shareholding arrangement giving developing countries more influence in bank operations.ByREUTERS06/08/2025 07:57 AMByREUTERS06/08/2025 05:36 AMByMAARIV06/07/2025 02:33 PMByWALLA!06/07/2025 11:18 AMByREUTERS06/07/2025 03:25 AM
