World Bank wins pledges for US$100 billion replenishment of fund for poorest countries

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WASHINGTON: Donor countries have pledged a record US$100 billion three-year replenishment of the World Bank's fund for the poorest nations, providing a vital lifeline for their struggles against crushing debts, climate disasters, inflation and conflict. The World Bank made the announcement early on Friday (Dec 6) in Seoul at a pledging conference for the International Development Association, which provides grants and very low interest loans to some 78 low-income countries. The total exceeds

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