WASHINGTON: Indonesian Finance Minister Sri Mulyani Indrawati on Friday joined a growing chorus of officials calling for reforms aimed at better equipping the World Bank to address mounting global challenges such as climate change and the changing nature of its clients.
Yellen and the White House adviser argued that the seven-decade-old institution was not built to address multiple and overlapping global crises, including the COVID-19 pandemic, Russia's war in Ukraine, and climate change. The public and private groups that called on Thursday for reforms, also said that the infusion of far more private capital was needed to address the multiple, overlapping crises now pushing 250 million people back into extreme poverty.
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