World Bank Crisis Aid for Developing World Reaches Record Level

The World Bank's assistance for the 79 poorest nations during the worldwide economic crisis reached a record level of USD16.9 billion,

reports. The sum, which represents the 15th replenishment of the International Development Association from July 2008 to October 2009, indicates a 50 percent increase from the previous period of IDA14. "We are very encouraged by donors' and partners' recognition of the IDA's overall performance and effective response to the global economic crisis," said World Bank President Robert Zoellick.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.