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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Market

World Bank ready to help East Asia but not with fund

Posted on 16 October 2008

From Indiatimes.com: The World Bank is ready to help East Asian countries hit by the financial crisis, a senior bank official said on Wednesday, but denied reports that the Bank will contribute to a regional fund to buy toxic debt.

“We do not anticipate the establishment of a regional facility and have not discussed commitments of funds at the regional level,” World Bank Vice President for East Asia Jim Adams said in a statement. Philippines’ President Gloria Macapagal Arroyo said earlier on Wednesday the World Bank had committed $10 billion to the fund….. Full Article: Source


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