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World Bank greets G20 commitment to poor countries (Extra)

Nov 15, 2008, 21:12 GMT

Washington - World Bank president Robert Zoellick greeted the commitment to poorer countries made at an emergency financial summit Saturday and urged a 'global, coordinated and fast response' by world leaders. Zoellick released his statement after the leaders of the so-called G20 group, which included wealthy nations and emerging economies like China and India, agreed to close up gaps in financial system regulations that have brought the global system to the brink of meltdown. While Zoellick greeted the inclusion of emerging economies at the table, he said 'the poorest developing countries must not be left out in the cold.' 'We will not solve this crisis, or put in place sustainable long- term solutions, by accepting a two-tier world,' Zoellick said. US President George W Bush, who called the summit under pressure from the European Union, and the other leaders made a commitment to fulfilling the Millennium Development Goals, Zoellick noted. 'If we are going to avert a human crisis, we will have to do more,' Zoellick said.

Business News

World Bank greets G20 commitment to poor countries (Extra)

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