Prime Minister's National Relief Fund(PMNRF) and National Defence Fund(NDF)

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In a major development, the World Bank Group has endorsed an ambitious package of measures that include a 13 billion US Dollars increase in paid-in capital.

The decision came last night along with a series of internal reforms, and a set of policy measures that greatly strengthen the global poverty fighting institution's ability to scale up resources and deliver on its mission in areas of the world that need the most assistance. World Bank President Jim Yong Kim hailed the decision as historic.

The package approved by the Development Committee of the Board of Governors consists of 7.5 billion dollars paid-in capital for International Bank for Reconstruction and Development (IBRD) and 5.5 billion dollars paid-in capital for International Finance Commission (IFC).

A media statement said, the package also includes a 52.6 billion dollars callable capital increase for the IBRD. The boost in capital will be augmented by a broad range of internal measures, including operational changes and effectiveness reforms, loan pricing measures, and other policy steps to create an even stronger World Bank Group.

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