New Anti-Poverty Fund Launched

The World Bank unveiled a new multi-donor trust fund that allows for the exchange of knowledge and expertise among developing countries in fighting poverty. “In their quest to accelerate growth and improve living standards, policy makers in the developing world are constantly in search of innovative ideas,” said the bank’s president, Robert Zoellick. “They see the experiences of their counterparts in emerging economies as increasingly relevant.” The fund seeks to raise some USD10 billion over a three-year period. (“South-South Initiative Launched to share Development Knowledge” - World Bank, Oct. 11, 2008)