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World Bank: Developing World's Funding Needs Could Hit USD700 Billion Due to Crisis

Posted by Eliza Villarino on 09 March 2009 02:16:15 AM

The World Bank, as reported by Reuters, estimated that developing nations will have a funding deficit of up to USD700 billion amid the worsening global financial crisis. According to the bank, "the challenge facing developing countries is how, with fewer resources, to pursue policies that can protect or expand critical expenditures, including on social safety nets, human development and critical infrastructure."

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Eliza Villarino

Eliza Villarino is an associate editor for Devex and leads the company's news team in Manila. She played a critical role in conceptualizing the Development Newswire. Prior to joining Devex in 2004, she has already published articles and news briefs for Internet media organizations and for the Institute for Ethics and Economic Policy at Fordham University in New York. She earned her bachelor's in political science and master's in public affairs from the University of the Philippines. Eliza is a member of Mensa Philippines.

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