"Even with the capital that the World Bank and the MDBs have, there is clearly potential ...to increase financing capacity," said U.S. Treasury Secretary Janet Yellen, whose country is the World Bank's biggest shareholder."We are certainly not ruling out at some later stage a capital increase. But I think that these banks need to function better individually and as a system first, expand their mission to address global challenges, better utilize the capital they have.
U.S. Treasury Secretary Janet Yellen delivers her speech at the U.S embassy to France, ahead of the Global Climate Finance conference, in Paris, France June 22, 2023 World leaders, heads of international organizations and activists are gathering in Paris for a two-day summit aimed at seeking better responses to tackle poverty and climate change issues by reshaping the global financial system.