WASHINGTON: The World Bank announced yesterday that it committed 52.6 billion US dollars to help promote economic growth, overcome poverty, and bolster economic enterprise in developing countries during fiscal year 2012, which ends on June 30.

“As developing countries face strong economic headwinds, the Bank Group supported an estimated 884 operations to promote opportunity and get needed services to the poor,” the Bank said in a statement.

The Washington-based global institution recently lowered its growth forecast for 2012 to 5.4 percent for developing countries, and noted that developing country budgets and central banks are not as well placed as they were in 2008 and 2009 to address slowing economies.

The Daily Sun/Bangladesh/ 1st July 2012