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, according to a release of the bank. The facility will enable the global lender to provide quick financing for social safety nets, infrastructure, education, and health initiatives. The USD2 billion funding will be made available in the next three years to 78 of the world’s poorest nations.