Home / World News / World Bank seeks to create a $170-bn emergency fund to help poorest nations

World Bank seeks to create a $170-bn emergency fund to help poorest nations

President David Malpass said World Bank was responding to the added economic stresses from the war by proposing a new, 15-month crisis financing target of $170 bn

Premium

World Bank

2 min read Last Updated : Apr 18 2022 | 10:23 PM IST

The World Bank is reducing its global growth forecast for 2022 by nearly a full percentage point, to 3.2% from 4.1%, due to the impacts from Russia's invasion of Ukraine, World Bank said on Monday.

Malpass told reporters on a conference call that the World Bank was responding to the added economic stresses from the war by proposing a new, 15-month crisis financing target of $170 billion, with a goal to commit about $50 billion of this financing over the next three months.

Malpass said the biggest component of the bank's growth forecast reduction was a 4.1% contraction in the Europe and

Disclaimer: No Business Standard Journalist was involved in creation of this content

Topics : World Bank

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in