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World Bank Aid for Latin America, Crisis-Hit Nations Reach Record Levels

By Ma. Rizza Leonzon on 02 July 2009

The World Bank earmarked $58.8 billion – or an increase of 54 percent – in fiscal year 2009 for nations struck by the global economic crisis. The sum, which includes $20.7 billion in infrastructure support, backed 767 projects. The bank's commitments for Latin American nations also rose by 70 percent to $17.1 billion. "Requests for assistance from the World Bank Group rose sharply this year, and we expect this to continue well into 2010, as the pace of recovery is far from certain," said World Bank President Robert Zoellick.
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Ma. Rizza Leonzon
As a staff writer, Rizza focuses mainly on business coverage, including key donors such as the Asian Development Bank and AusAID. She covers breaking business news particularly at the ADB and has conducted interviews with specialists from the Inter-American Development Bank, World Bank and other top players in international development. Rizza also contributes to the daily Development Newswire and other Devex publications.