World Bank financing for FY11 totals US$14.7bn

- Friday, July 1, 2011

World Bank financing for FY11 totals US$14.7bn

The World Bank committed US$14.7bn in fiscal year 2011 (Jul 2010-Jun 2011) for infrastructure, social programs, public sector efficiency, private sector development, climate change adaptation and social programs in Latin America and the Caribbean.

Mexico and Brazil were the largest borrowers in the region with US$2.7bn and US$2.5bn respectively, the bank said in a release.

The sectors receiving the most funds were health and social services, public administration and law, and transportation.

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The finances include resources from the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).