World Bank increases support for developing countries

The World Bank has supported developing countries this year with more than $100 billion in private capital, representing an increase of over 60 %.

According to the institution’s president, Ajay Banga, traditional donors “do not have the necessary funds to respond to the needs of developing countries.” He added that the World Bank “cannot lend $200 billion a year.” “We don’t have them.”

Governments have no room to maneuver and depend on private capital to bridge the gap between domestic needs and the public funds they can muster.

But, it is essential that the funds loaned by the World Bank be repaid, in a system or scheme satisfactory to investors.

M.Pino

Source: swissinfo

(Reference image source: Logan Voss on Unsplash)

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