Washington: The US wants the G20 countries to help reshape and scale up multilateral development banks like the International Monetary Fund and the World Bank, a top White House official has said.
White House National Security Council Coordinator for Strategic Communication John Kirby said on Wednesday the US will make it clear during President Joe Biden’s visit to India that it remains committed to the G20 as a critical forum for all the major economies of the world to come together for global problem-solving.
President Biden will arrive in New Delhi on Friday to participate in the G20 Summit.
One of our main goals heading into the G20 is to help reshape and scale up multilateral development banks like the IMF, like the World Bank, Kirby told foreign reporters at a news conference here on Wednesday.
We know that these institutions are some of the most effective tools for mobilising transparent and high-quality investment in developing countries. And that’s why the United States has championed the major effort that is currently underway to evolve these institutions so that they’re up for the challenges of tomorrow, he said.
Kirby said Biden asked the US Congress last month for additional funds that would have the impact of helping increase World Bank financing by more than USD 25 billion, and the US is working with its partners to see if they can pursue similar contributions.
