G20 must increase aid: World Bank
World Bank president Robert Zoellick has encouraged members of the Group of 20 nations (G20) to increase aid to the world’s poorest countries, citing an $11.6 billion gap in funding during the current downturn.
“People should not be misled about reports we may be starting a recovery,” he said, adding there was “real concern that the recovery might flatline”.
Zoellick called for responsible, sustainable growth, particularly in areas often overlooked by groups such as the G20. “The poorest countries may not be well represented on the G20, but we cannot ignore the long-term costs of the global downturn on their people’s health and education,” he said.
The World Bank recently released a report showing how poor countries have been affected by the economic downturn, and concluded: “Failure to address the crisis-related challenges facing low-income countries jeopardises years of progress in combating poverty and improving the foundations for economic growth.”
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