The World Bank on Sunday urged rich countries to hurry up with the delivery of the money they’ve pleded as well as give more, in order to help poor nations hit hard by the global economic crisis.
An economic collapse around the world has already forced over 50 million into extreme poverty this year.
“There is widespread recognition that the world faces an unprecedented economic crisis, poor people could suffer the most and that we must continue to act in real time to prevent a human catastrophe,” World Bank chief Robert Zoellick said.
The current financial crisis is imperilling the attainment of the 2015 Millenium Development Goals (MDGs) and creating an outright emergency.
“The meeting of the Development Committee allows our 185 member countries to be full participants in discussions on resources, instruments, and responses that are needed for developing countries,” he said.
Finance ministers from around the world had attended the parallel World Bank and International Monetary Fund meetings in Washington.
They called for an urgent reform of banking systems in developed countries.
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