(From the University of Colorado)
This story from Reuters late Friday …
The World Bank said on Friday its board approved funds nearly double this year's amount to finance development projects in the world's poorest countries to $950 million from the original pledge of $500 million.
The World Bank's top-up adds to the funds committed last year by 40 countries who account for much of the $33 billion earmarked for 81 poor countries, half of them in Africa, through the bank's International development Association (IDA), which gives interest-free loans and grants.
"While this record transfer of World Bank Group income is a positive step, it should be remembered that IDA is primarily dependent on contributions from donor governments," World Bank President Paul Wolfowitz said in a statement.
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