World Bank pledges more funds for poor in troubled states

Article source
Reuters

World Bank President Jim Yong Kim pledged to increase funding for poor people living in states in or close to conflict as part of a new lending strategy for the global development bank and warned of the impact of U.S. fiscal uncertainty on developing nations.

In a speech in Washington, where a partial government shutdown began on Tuesday after a standoff between President Barack Obama and congressional Republicans over healthcare reforms, Kim said the implications could be far-reaching.

U.S. fiscal uncertainty "combined with other sources of volatility in the global economy, could do great damage to emerging markets and developing countries in Africa, Asia, and Latin America that have lifted millions of people out of poverty in recent years," he said.

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