World Bank allocates $52.6 bn of assistance in 2012

June 30th, 2012 - 4:14 pm ICT by IANS  

Jakarta, June 30 (IANS) The World bank (WB) has allocated $52.6 billion of assistance fund for developing countries in the fiscal year of 2012, a statement released by it said Saturday.

The assistance fund would be materialized in loans, grants and assurance to help spur economic growth, Xinhua quoted the statement as saying.

Institutions grouped in the World Bank contributing to provide the $52.6 billion assistance this year include International Bank for Reconstruction and Development, at $20.6 billion, International Development Association, at $14.7 billion, International Financing Corporation at $15 billion and Multilateral Investment Guarantee Agency at $2.3 billion.

In June this year, the WB has reduced its 2012 growth estimation in developing countries to 5.3 percent from an initial estimate set in January at 5.4 percent.

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