World Bank's FY2011 Commitments Top $57B

World Bank President Robert Zoellick with Inger Anderson, vice president for sustainable development. Photo by: Simone D. McCourtie / World Bank / CC BY-NC-ND

The World Bank approved a total of $57.4 billion in loans, grants, investments and other commitments to support economic recovery in developing countries in fiscal 2011.

The sum includes $26.7 billion from the International Bank for Reconstruction and Development, $16.3 billion from the International Development Association, $12.3 billion through the International Finance Corp., and $2.1 billion through the Multilateral Investment Guarantee Agency.

The World Bank’s total commitments for fiscal 2011, covering July 1, 2010, to June 30, 2011, was higher than the bank’s total commitments for fiscal 2010, which amounted to $44.2 billion.

Read more development aid news online, and subscribe to The Development Newswire to receive top international development headlines from the world’s leading donors, news sources and opinion leaders – emailed to you FREE every business day.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.