20 March, 2015
Who's Afraid of the Asian Infrastructure Investment Bank? - Bloomberg Business
Who's Afraid of the Asian Infrastructure Investment Bank? - Bloomberg Business: It’s been five years since the World Bank last got a capital increase—and that was its first since 1988. Under pressure from the U.S. to keep funding requirements small and changes in voting shares limited, the capital boost added a mere 30 percent to the institution’s lending capacity. That headroom has been eaten up already by the bank’s operations during the global financial crisis. When it comes to the IMF, there have been four failed attempts by the Obama administration to get congressional approval and funding for the U.S. share of a financing and reform package.