Arab Today, arab today world bank lending hits postfinancial crisis peak
Last Updated : GMT 22:03:31
Arab Today, arab today
Arab Today, arab today

World Bank lending hits post-financial crisis peak

Arab Today, arab today

Arab Today, arab today World Bank lending hits post-financial crisis peak

The International Monetary Fund and World Bank
Washington - AFP

Lending to needy countries by the World Bank surged to a level last year normally only seen during financial crises, the Bank said Monday.

Facing slowing growth and low commodity prices, developing countries borrowed the most money from the World Bank in 2015 since the 2008-2009 crisis.

"As developing countries continue to face strong economic headwinds, demand for lending from the World Bank has risen to levels never seen outside a financial crisis," the World Bank said in a statement.

During its 2015 fiscal year, lending to emerging-market and low-income economies totaled $42.4 billion, up from $40.8 billion in 2014.

Of that total, lending for emerging, or middle-income countries, was $23.5 billion in 2015, compared with only $14 billion in 2006. The Bank projects that lending for emerging economies this year will surpass $25 billion.

Hit particularly hard by the sharp fall in oil and other commodity prices and China's cooling economy, a number of developing countries are suffering from strained finances and economic difficulties.

"Developing country governments are feeling the pressure to find additional ways to accelerate growth, in the current downturn," said Jan Walliser, a World Bank vice president, in the statement.

A large part of its support has been to  help countries diversify sources of growth and buffer themselves against future shocks, the Bank said.

The World Bank, which holds its spring meetings with the International Monetary Fund this week in Washington, has set a goal of ending extreme poverty by 2030.

"We are in a global economy where growth is expected to remain weak, so it is critically important that the World Bank play our traditional role of helping developing countries accelerate growth," said World Bank President Jim Yong Kim said in the statement.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world bank lending hits postfinancial crisis peak Arab Today, arab today world bank lending hits postfinancial crisis peak

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Rebel supporters flood Yemen streets

GMT 06:39 2017 Monday ,27 March

Rebel supporters flood Yemen streets
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Nermein Al Fekki films “Foxes in the Valley”

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday