Yellen urges further WB reforms this year

The World Bank should take on added reform measures this year, US Treasury Secretary Janet Yellen said Wednesday, after initial steps to update the global lender's mission and boost its financing capacity.

The revamp of the bank comes amid pushes for it to meet global challenges such as climate change.

"We should use the rest of the year to undertake additional reforms through a staged implementation approach," Yellen said, at the start of a roundtable discussion.

The bank's mission now "highlights the importance of inclusion, sustainability and resilience to global shocks," she said, outlining various changes in the pipeline.