Intan Khairiah Adilah Binte Abdullah | The Business Times PREPMUN HEADQUARTERS - Directors of the World Bank are facing a fast-paced economic issue which has been plaguing all nations, climate change. Despite the emergence of the fastest and biggest economic headwind of the 21st century, global financing frameworks remain dangerously misaligned with the scale of the threat. The Potsdam Institute estimates that climate damages could hit US$38 trillion annually by 2050, a figur

Intan Khairiah Adilah Binte Abdullah | The Business Times In the latest round of World Bank negotiations, tactical suggestions were made by the Directors of Japan and Germany, signalling strong support for a substantial increase in the International Development Association (IDA) contribution. The shift was framed as essential to safeguarding financial discipline and long-term development for Low-Income Countries (LICs).  Speaking on the sidelines of the council, Japan’s repre

Intan Khairiah Adilah Binte Abdullah | The Business Times Tensions rise as Director Michael Krake gives his summary speech on the moderated caucus.  PREPMUN Headquarters - Negotiations took place at the World Bank Board of Directors meeting this morning, which revealed widening fractures over the balance between International Development Association (IDA) contributions and Economic Weight (EW) in the institution’s shareholding formula.  Advanced economies pressed for greater