"Many graduation-eligible countries, even those with strong market access, have continued to demand (World Bank) financing," he said in prepared testimony. Malpass said that since 2009, countries eligible for graduation from World Bank aid have received, on average, 40 percent of the institution's lending. However, income is only one factor taken into consideration when the World Bank decides whether to graduate a country. Uruguay was nearly double that figure at $15,200, according to World Bank data. - Move to graduate -Malpass, however, said the World Bank has failed to follow its own guidance and pursue discussions with countries ready to graduate, to phase them out of the lending program.

Source: The Nation Bangkok November 08, 2017 22:30 UTC