The World Bank (WB) Group said on July 1 it committed 72.2 billion USD in fiscal year 2010, an unprecedented level of assistance for developing countries as the world faces a fragile and uneven recovery.
In fiscal year 2010, which ended on June 30, the WB Group supported an estimated 875 projects to promote economic growth, reduce poverty, and promote private enterprises, with record commitments in education, health, nutrition, population, and infrastructure providing much-needed investments in crisis-hit economies.
This assistance was provided in loans, grants, equity investments and guarantees to help countries and private businesses contending with significantly diminished private capital flows in the wake of the global downturn.
Commitments from the International Bank for Reconstruction and Development (IBRD) - which provides financing, risk management products, and other financial services to countries - hit an unprecedented 44.2 billion USD, up sharply from the previous record of 32.9 billion USD in fiscal year 2009.
Commitments from the International Development Association (IDA) , which provides interest-free loans and grants to the world’s 79 poorest countries, rose to a new record high of 14.5 billion USD in fiscal year 2010, from 14 billion USD the previous fiscal year.
The International Finance Corporation (IFC), the largest provider of multilateral financing for the private sector in developing countries, provided a record amount of financing to businesses in developing countries, strengthening their ability to cope with uncertain global economic conditions.
Preliminary and unaudited data as of June 29 indicated IFC investments totalled almost 18 billion USD, marking an increase from 14.5 billion USD in fiscal year 2009./.
In fiscal year 2010, which ended on June 30, the WB Group supported an estimated 875 projects to promote economic growth, reduce poverty, and promote private enterprises, with record commitments in education, health, nutrition, population, and infrastructure providing much-needed investments in crisis-hit economies.
This assistance was provided in loans, grants, equity investments and guarantees to help countries and private businesses contending with significantly diminished private capital flows in the wake of the global downturn.
Commitments from the International Bank for Reconstruction and Development (IBRD) - which provides financing, risk management products, and other financial services to countries - hit an unprecedented 44.2 billion USD, up sharply from the previous record of 32.9 billion USD in fiscal year 2009.
Commitments from the International Development Association (IDA) , which provides interest-free loans and grants to the world’s 79 poorest countries, rose to a new record high of 14.5 billion USD in fiscal year 2010, from 14 billion USD the previous fiscal year.
The International Finance Corporation (IFC), the largest provider of multilateral financing for the private sector in developing countries, provided a record amount of financing to businesses in developing countries, strengthening their ability to cope with uncertain global economic conditions.
Preliminary and unaudited data as of June 29 indicated IFC investments totalled almost 18 billion USD, marking an increase from 14.5 billion USD in fiscal year 2009./.
