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The major high income and developing countries that set policy for the 185 member-nation World Bank agreed in Washington on Sunday that the bank should boost its lending to help poor countries adversely1 affected2 by the global economic slowdown.
From left: Robert Zoellick, Agustin Carstens, Dominique Strauss-Kahn at IMF headquarters in Washington, 26 Apr 2009
World Bank President Robert Zoellick said the bank will boost its lending by $100 billion during the next three years, noting that the economic crisis has forced as many as 90,000,000 more people into extreme poverty.
"There is a widespread recognition that the world faces an unprecedented3 economic crisis," said Robert Zoellick. "Poor people will suffer the most. And we must continue to act in real time to prevent a human catastrophe4."
The 24 member World Bank steering5 committee, called the development committee, was headed by Mexico's Finance Minister, Agustin Carstens.
"The financial crisis is turning into a human and development calamity," said Agustin Carstens. "Many people have already been driven into absolute poverty."
The World Bank is providing Mexico with $200 million in loans to help it deal with the recent swine flu outbreak.
Earlier, the steering committee for the International Monetary6 Fund announced that it is implementing7 recommendations of the leaders of major advanced and developing economies, the G-20, giving the IMF more resources to help member nations in financial distress8.
The World Bank and the IMF are owned by their 185 member nations. The IMF is also being assigned a strengthened role to monitor financial markets - a move intended to forestall9 further financial crises. The bank and the fund are speeding up procedures that will give rising developing countries like China and India a greater say in the two Washington-based financial institutions.
1 adversely | |
ad.有害地 | |
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2 affected | |
adj.不自然的,假装的 | |
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3 unprecedented | |
adj.无前例的,新奇的 | |
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4 catastrophe | |
n.大灾难,大祸 | |
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5 steering | |
n.操舵装置 | |
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6 monetary | |
adj.货币的,钱的;通货的;金融的;财政的 | |
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7 implementing | |
v.实现( implement的现在分词 );执行;贯彻;使生效 | |
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8 distress | |
n.苦恼,痛苦,不舒适;不幸;vt.使悲痛 | |
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9 forestall | |
vt.抢在…之前采取行动;预先阻止 | |
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