The World Bank plans to increase its support for development in middle-income countries to encourage more private sector investment, according to an internal bank report, in a new strategy that could see more funding going to their governments.
The report, obtained by the International Rivers Network non-governmental organisation, said the objective was to raise its development effectiveness in middle-income countries, which as a group are growing twice as fast as developed nations.
A World Bank official confirmed the document had been discussed by its board.
The role of global institutions like the World Bank in middle income countries like Brazil, China, India and Russia - countries with above-average capital gross domestic products - is being widely debated.
Some analysts argue such countries have reached a stage in their economic development that no longer requires financial and other assistance from institutions like the World Bank.
But others say the countries still face huge development challenges and are home to 80 percent of the developing world's people and over 70 percent of its poor people who live on $1 a day or less.
"Our fundamental goal is to improve and increase our development effectiveness in MICs," the report said.
"The bank should not be motivated by a desire to increase its lending and other services as ends in themselves, but at the same time, it cannot allow unnecessary obstacles within its control to stand in the way of responding effectively to the development needs of MICs," it added.
The report said the bank's shortcomings in helping middle-income countries was in its practices and not in its policies.