The World Bank Group committed $52.6 billion in loans, grants, equity investments, and guarantees to help promote economic growth, increase shared prosperity, and fight extreme poverty in developing countries during fiscal year 2013, which ended on June 30.
Despite a difficult global economic environment, the commitments for IDA – the World Bank’s fund for the poorest countries – were at an all-time high, and the Bank Group’s investments in private sector financing and political insurance guarantees also were at record highs.
The Bank recently raised its growth forecast for 2013 to 5.1 percent for developing countries, up from 5.0 percent in 2012, and noted that developing-country GDP is forecast to strengthen in coming years. Risks from advanced economies have declined and growth prospects are increasing, despite ongoing contraction in the Euro Area. Growth in some countries has been held back and is unlikely to reach pre-crisis growth rates unless supply-side reforms are completed.
Source: World Bank
