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The World Bank on Wednesday told that it has spent a record of $58.8 billion on loans, grants, guarantees and social projects over the last year for helping the poor countries steer through the global recession.
The spokesperson for World Bank has been quoted saying that its budget jumped 54% between July 2008 and June 30, 2009 when compared to previous year. The person also added that it is now at the highest level in its 60-year history.
The spokesperson for World Bank has been quoted saying that its budget jumped 54% between July 2008 and June 30, 2009 when compared to previous year. The person also added that it is now at the highest level in its 60-year history.
The money keeps the developing countries from cutting back on their social programmes, and World Bank President Robert Zoellick told that he expected the demand to remain high as the economic crisis continues through 2010.
