More Say for Developing States in World Bank

World Bank member countries have reached a preliminary agreement on a 3.13 percent shift in voting power to give emerging and developing states greater influence in the global institution.

World Bank officials are of the view that the shift will increase the votes of the developing world to 47.19 percent.

The battle over influence at the multilateral lender is part of efforts to reflect the growing clout of developing economies on the world stage and a precursor to a similar move on the International Monetary Fund (IMF).

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