World Bank Unveils Fast-Track Facility for Crisis-Hit Poor Nations

The World Bank launched a USD2 billion fast-track facility aimed at accelerating grants and long-term, interest-free loans to the world’s poorest countries suffering from the global financial meltdown. The facility will enable the global lender to provide quick financing for social safety nets, infrastructure, education, and health initiatives. The funding will be made available in the next three years to 78 poor nations. (“World Bank launches USD2 bn Fast-Track Facility for World’s Poorest Countries Coping with Global Financial Crisis” - World Bank, Dec. 10, 2008)

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