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Major World Bank reforms and financing boosts for climate crisis relief announced at Paris summit

  • Global finance summit in Paris provides some relief for poorer countries struggling with debt crisis
  • The World Bank will ease financing for countries hit by natural disasters.
  • Janet Yellen suggests adding disaster clauses to debt agreements with poorer countries
  • Multilateral development banks expected to unlock $200 billion in extra firepower
  • Wealthy nations may have to inject more cash to support the increased lending capacity of development banks
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