NEW DELHI -- The Group of 20 countries have agreed to work on expanding the lending capacity of multilateral development banks (MDBs), particularly the World Bank, in a move that could balance China's growing financial influence over developing economies -- many of which are reeling from debt.
Calling for "better, bigger and more effective" MDBs, a joint communique by the G20 nations said on Saturday that they will focus on "enhancing operating models, improving responsiveness and accessibility, and substantially increasing financing capacity to maximise development impact."

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