Regions

A World Bank draft strategy paper revealed that the next steps of the lender would include lending to states affected by conflict. The 42-page draft gave a glimpse on the concrete steps that World Bank would take to fulfill its goals. Under World Bank President Jim Yong Kim, the twin objectives of the World Bank include the elimination of extreme poverty by 2030 and increasing the incomes of the poorest people every country.

The draft, however, did not reveal the programs that it would eliminate or create to give way to its new priorities. It was not also clear how the budget would be affected with this new focus as the bank also had to deal with declining revenues, Reuters reported.

The World Bank acknowledged that it had limited funds to meet the needs of the developing world. It estimated that infrastructure projects alone would need USD 1.5 trillion annually. Still, the bank would like to be known as a solutions bank. As one, they would offer not only financing but solutions to development obstacles.