Print |Close

Newswire

World Bank Seeks 'Vulnerability Fund' to Counter Crisis

News-thumbnail
World Bank President Robert Zoellick urged wealthy nations to establish a "vulnerability fund" to assist poor countries severely affected by the global financial woes, Agence France-Presse reported. "I propose that developed countries agree to devote 0.7 percent of their stimulus packages to a vulnerability fund to support the most needy," Zoellick said. He added: "What began as a financial crisis has become an economic crisis, and is now becoming an employment crisis, and without countries' action could become a human crisis on a global scale."
Devex_logo_2008_thumb
Devex Editor
Thanks a lot for your interest in Devex News. To share news & views, story ideas & press releases, please email news@devex.com. We look forward to hearing from you.