WASHINGTON, (Reuters) – World Bank President David Malpass expressed hope that China will increase its contribution to the International Development Association Fund for the Poorest Countries.

Malpass stated to the Bretton Woods Project (a UK-based watchdog) that he is reaching out to China and Russia as well as Turkey and Britain in order to help the bank raise $100 billion by the end.

He claimed that China’s economy was growing and he wanted to make the case for Beijing to boost its generosity to IDA. Japan had also pledged a significant contribution.

On Wednesday, finance officials from the Group of 20 largest economies said that they were looking forward to an ambitious replenishment of this fund.

Monday’s announcement by Malpass embraced the previously established $100 billion goal by African leaders. He said that the money was necessary to deal with “tragic reverses” in development resulting from the COVID-19 pandemic.

While the multilateral bank for development projects global growth of 5.7%-2021 and 4.4%-2022 respectively, Malpass warned that inequality between developing and advanced countries was increasing. This had redirected efforts to end extreme poverty year-round, sometimes even decades.