World Bank gives $27 billion to shield emerging markets from the euro |
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January 26, 2012
The World Bank is making $27 billion in funding available over the next two years for countries of emerging Europe and Central Asia impacted by the euro zone crisis.
"While the effects of the euro zone crisis on the largest economies of Western Europe receive most of the world's attention, the crisis is also hurting people in emerging Eastern European countries, particularly the poorest in Central and Southeastern Europe," said World Bank President Robert B. Zoellick.
The purpose of extending these funds is to ensure that "those countries can rely on these resources to weather the crisis."
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