The World Bank said on January 18 that
it has doubled its lending capacity to 3.45 billion USD to help
developing nations improve their ability to trade.
Accordingly, the WB will increase the amount it lends for trading
purposes to 3.45 billion USD in the 2009 fiscal year, up from an
average of 1.54 billion USD per year in the fiscal years from 2006-08.
About 35 percent of the trade projects are reserved for Africa and the
majority of the loans are going to projects designed to facilitate
trade and transport.
The WB Trade Director, Bernard Hoekman, said that the bank has already
helped a number of countries, including Vietnam , Indonesia , Colombia
and Tunisia , to develop comprehensive strategies to boost their
trading and transport sectors.
According to the official, the biggest improvements in trade come with
policy changes and investments that address a country’s infrastructure
such as ports or roads and provide logistical services such as haulage,
customs brokerage and cross-border clearances./.