WB doubles credit for developing nations
The WB has doubled its lending capacity to 3.45 billion USD to help
developing nations improve their ability to trade.
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./.
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./.
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