Speaking to the Guardian in Washington, Chakrabarti expressed enthusiasm for expansion into sub-Saharan Africa if the member governments that own the bank gave the go-ahead. “We have increased our geographical reach – to Mongolia, then Turkey, then the Middle East and north Africa, then Greece and Cyprus. “The biggest gap is sub-Saharan Africa. The World Bank and the African Development Bank already operate in sub-Saharan Africa, but Chakrabarti said he did not envisage a turf war if the EBRD joined them. Business as usual is not going to get us there.”The World Bank announced on Saturday an agreement to increase its capital by $13bn following protracted talks with the US Treasury.

Source: The Guardian April 22, 2018 15:30 UTC