World Bank Group Directs US$8 Billion in Fiscal 2008 to Improve the Lives of People in Europe and Central Asia
#dataTbl TD {border-style:solid;border-width:1px;border-color:#e0e0e0;}Contacts:In Washington:Kristyn Schrader +1-202-458-2736
kschrader@worldbank.org
Michael Jones +1-202-473-2588
mjones2@worldbank.org
WASHINGTON, September 17, 2008— During Fiscal Year 2008, the World Bank Group committed US$8 billion in loans, credits, equity investments and guarantees to its members and to private business in the Europe and Central Asia (ECA) Region. The World Bank Group commitments in ECA grew in fiscal 2008 (ending June 30) by 33 percent as finance was rapidly approved to help the poor in the food price crisis and support grew for private sector development.
“In the past year, the Region as a whole grew by a robust 7.6 percent,” said World Bank Europe and Central Asia Vice President Shigeo Katsu. “However, rising food and energy prices, along with it inflation, have made people’s lives tougher and complicated the conduct of macroeconomic management, particularly in the Commonwealth of Independent States. We will continue to support ECA countries to overcome these challenges and deepen our engagement in the management of risks associated with price pressures, energy security, and global financial markets to improve the lives of people in Europe and Central Asia.”
World Bank Group Commitments in Europe and Central Asia Fiscal Years 2008 and 2007 (year ends June 30)
World Bank Group
FY08*
FY07*
IBRD
$3.71b
$3.34b
IDA
