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Article: World Bank inaugurates 50 bln USD trade finance for developing countries

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Xinhua News Agency
Article date:
April 3, 2009
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World Bank inaugurates 50 bln USD trade finance for developing countries World Bank inaugurates 50 bln USD trade finance for developing countries

LAGOS, April 3 (Xinhua) -- The World Bank has inaugurated a new global initiative aimed at bringing together governments, development finance institutions and banks to support trade in developing markets, reported the News Agency of Nigeria on Friday.

The initiative with a targeted initial commitment of 5 billion U.S. dollars will be sourced from the public sector and it will support up to 50 billion dollars of trade.

The World Bank in a statement said the Global Trade Liquidity Program would begin in May.

According to the organization, the ...

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