Monday, April 27, 2009

World Bank: the process of supporting the developing countries need to accelerate

The World Bank has asked the developed countries to accelerate the delivery of funds that were promised under the program to support developing countries in order to quell the crisis processes. Economic downturn plunged into a state of extreme poverty 50 million people worldwide, the chairman of the World Bank. "Economists around the world agree with each other about what we are currently experiencing the deepest crisis in decades, so we must act quickly and decisively to prevent a human catastrophe," - said the head of the World Bank Robert Zoellick. Inflows of foreign investment declined sharply in developing countries that has led to the fall of the industrial sector and rising unemployment. The decline in global demand has led to the fall in export volumes, which puts pressure not only on developing countries, but also for industrialized. The World Bank agreed to support developing countries, giving them 55 billion dollars, financed by public works. At the same time the IMF doubled the rules of providing financial assistance to 78 countries, in order to support them in the face of a crisis that was caused by industrialized countries. "The economic crisis has covered the developing countries as the tsunami, those who are least responsible for the outbreak of the crisis, but had to suffer more than others," - said Minister of Economic Development of Germany Heidemarie Wieczorek-Zeul.

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