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WB to allocate $ 49 bln to poorest countries

WB to allocate $ 49 bln to poorest countries

16 December 2010 09:20 (UTC +04:00)

Baku - APA-Economics. The World Bank fund for the globe’s poorest nations said Wednesday it had raised a record 49.3 billion dollars (37 billion euros) to help lift 79 states out of poverty through interest-free funds, AFP reported.

The pledges to the International Development Association (IDA) for 2011 to 2014 -- 18 percent higher than the last round -- will help immunise 200 million children, offer health services to over 30 million people and give access to improved water to another 80 million, the bank said in a statement.

Since its creation in 1960 the IDA fund has provided more than 220 billion dollars, averaging 14 billion annually over the last two years, with around 20 percent of funding provided as grants, the remainder in interest-free long-term credits, often stretching 35-40 years, including a 10-year grace period.

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