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of <h1>Economic Affairs Secretary Urges World Bank to Boost Capital Management and Reconsider Transfers; Supports $13 Billion Capital Increase.</h1> The Secretary of the Department of Economic Affairs urged the World Bank to enhance capital management efficiency and reconsider IBRD transfers to IDA. He welcomed a $13 billion capital increase in IBRD and IFC, highlighting its significance and supporting a shareholding review. He emphasized the economic growth of India and neighboring countries, despite challenges like poverty. He stressed the importance of timely preparation for the next capital review in 2020 and called for increased lending to middle-income countries. The Secretary also attended IMF meetings in Washington D.C. alongside other senior officials.
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