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World Bank commits $58.9 b to crisis-hit countries

The World Bank said on Wednesday that it committed $58.9 b in fiscal year 2009 to help countries struggling amid the global economic crisis, a 54 per cent increase over the previous fiscal year and a record high for the global development institution. In fiscal year 2009 (July 1, 2008 - June 30, 2009), the World Bank supported 767 projects to promote economic growth, fight poverty, and assist private businesses, including $20.7 b in infrastructure financing, a critical sec tor to provide the foundation for rapid recovery from the crisis and job creation. — Xinhua

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