US President Biden rallies G20 nations to boost World Bank support for low- and middle-income countries

US President Joe Biden has urged G20 nations to increase funding to the World Bank in order to support low- and middle-income countries. The initiative aims to provide a one-time boost to the International Bank for Reconstruction and Development (IBRD) and double the International Development Association's (IDA) crisis lending capacity. The goal is to strengthen the World Bank's ability to address global challenges and meet the urgent needs of the poorest countries.