- CNTV English - CCTV News

Homepage > News > Biz >

World Bank support for developing countries hits nearly 53 bln USD in 2012

06-30-2012 09:10 BJT

WASHINGTON, June 29 (Xinhua) -- The World Bank announced on Friday that it committed 52.6 billion U.S. dollars to help promote economic growth, overcome poverty, and bolster economic enterprise in developing countries during fiscal year 2012, which ends on June 30.

The financial support is provided in the forms of loans, grants, equity investments and guarantees.

"As developing countries face strong economic headwinds, the Bank Group supported an estimated 884 operations to promote opportunity and get needed services to the poor," the Bank said in a statement.

The Washington-based global institution recently lowered its growth forecast for 2012 to 5.4 percent for developing countries, and noted that developing country budgets and central banks are not as well placed as they were in 2008 and 2009 to address slowing economies. Their ability to respond may be constrained if international finance dries up and global conditions deteriorate sharply.

"The Bank is well positioned for future challenges," said World Bank President Robert Zoellick, whose term ends at the close of the fiscal year 2012.

"Just as important as the finance is our ability to work with countries -- both the public and private sectors -- as clients and to customize our services to address their problems," he added.


Editor:Bai Yang |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program