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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The new World Bank president vows to respect climate goals and develop relations with China

    Rocky
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    The new World Bank president vows to respect climate goals and develop relations with China Empty The new World Bank president vows to respect climate goals and develop relations with China

    Post by Rocky Wed 10 Apr 2019, 4:18 am

    The new World Bank president vows to respect climate goals and develop relations with China

    The new World Bank president vows to respect climate goals and develop relations with China 14383


    New World Bank President David Malpas said he would not change the bank's pledge to combat climate change, but promised to strengthen the bank's mission to fight poverty and improve the bank's relationship with China.
    US President Donald Trump has nominated Malbas to the post of World Bank president, and the latter began his duties on Tuesday. Some development experts fear Malpas will adopt Trump's "First America" ​​policy at the bank, resume funding coal-fired electricity projects and put pressure on China.
    But Malpas told reporters he would work to implement the Bank's climate change goals, including the previous bank's decision to withdraw from funding coal-fired power plants. He described climate change as a "major problem" facing many developing countries in the world.
    "The council and the conservatives have set a policy in this regard. I do not expect a change in that policy. "
    Malpas, who recently served as undersecretary of the Treasury for international affairs, contributed to negotiations to raise the World Bank's capital by $ 13 billion last year.
    The refinancing process included conditions for the bank to convert lending from middle-income countries, including China, to lower-income countries.
    At the time, Malpas was very critical of China's ongoing loans from the World Bank to the Belt and Road Initiative. But he said on Tuesday that new lending to Chinese enterprises was already falling and that the relationship would shift to increased contributions to the bank and sharing of experience.
    "That means development where they borrow much less and offer more in terms of participation in capital increases and participation in the International Development Association (IDA), where China raises its contributions," he said, referring to the International Development Association (IDA), the World Bank's fund for financing the poorest country. He said he would work with China to promote the standards of its development projects under a more transparent debt and more open procurement standards.

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