Search the Internet          Tips  Sites: Finance, Investment

World Bank lending to developing countries increase

World Bank lending to developing countries increased to $19,500 in the year ending June 30, 2002 from $17,300 million the previous year, the Bank said.

In a press release, the Bank reported that Europe and Central Asia received the largest share of its lending- $5,500 million, up from $2,700 million the previous year.

Of that amount, $3,600 million went to Turkey, the largest recipient of Bank lending during the year, it said.

Lending to South Asia, including Afghanistan, rose by $300 million to $3,500 million. It increased nine per cent in the West Asia to $544 million, the Bank said. Sub-Saharan Africa received $3,800 millionin interest-free loans.

Financing to Latin America and the Caribbean decreased by 18 per cent to $4,400 million and in East Asia and the Pacific to $1,800 million from $2,100 million dollars, the release said.

The Bank said that 70 per cent of the projects it funds are expected to be ''likely or highly likely to be resilient to future risks.''

UNI

ALSO READ:
More Money Headlines