World Bank gives USD 100 billion to developing markets
World Bank plans to provide USD 100 billion dollars in the form of aid to developing countries since some of the poorest countries face a serious test for the global financial crisis, says Financial Times. During the international meeting this weekend of President Robert institution Zelik said it would be a historic mistake to ignore the interests of the developing world.
Due to the fact that the World Bank to address the increasing number of requests for assistance Zelik predicted that the institution headed by him would grant loans of 100 billion dollars over the next three years. This could be done through the International Bank for Reconstruction and Development.
In the words of Zelik IBRD will increase lending to developing countries to over 35 billion dollars this year, given that only a few months before the plans were for loans amounting to 16 billion dollars. Throughout 2007 the institution has granted a total of 13.5 billion dollars loans.
See countries that had very good quality macroeconomic programs - Mexico, Indonesia, currently in a situation in which no financial risks, but it makes you worry about securing funding, says Zelik.
Zelik has said that world trade is expected to shrink next year that will happen for the first time since 1982 at the same time, growth in developing countries, which is expected to reach 6.4 percent in 2009 . Now be assessed on 4.5 percent.
By World Bank estimates each percentage point decline in the growth of developing countries vow new 20 million poverty. This is why the institution to declare readiness for infusion of the other 42 billion dollars in the poorest countries in the world.
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