World Bank backs Caribbean’s steady poverty reduction
Jul 26, 2013
WASHINGTON, CMC – The World Bank has committed US$11.8 billion in the 2013 fiscal year to support Latin America and the Caribbean resilience in the midst of global turmoil.
The Washington-based financial institution said this includes resources from its International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA).
The World Bank said it maintained its strong support for the region approving US$5.2 billion in new loans in the fiscal year, nearly US$4.8 billion from IBRD and US$435 million from IDA, the bank’s fund for the poorest countries.
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