Oxfam urges caution as WB arm enters capital markets

AFP, WASHINGTON: Oxfam International on Friday called for prudence following the World Bank’s announcement that it would tap capital markets for funds to support development work in the world’s poorest countries.

The International Deve-lopment Association, a World Bank arm which offers concessional loans and grants to support poverty alleviation in 77 countries, has received its first credit rating and will soon borrow on capital markets, according to a World Bank announcement on Thursday.

 

Oxfam urges caution as WB arm enters capital markets

AFP, WASHINGTON: Oxfam International on Friday called for prudence following the World Banks announcement that it would tap capital markets for funds to support development work in the worlds poorest countries. The International Deve-lopment Association, a World Bank arm which offers concessional loans and grants to support poverty alleviation in 77 countries, has receivedits first credit rating and will soon borrow on capital markets, according to aWorld Bank announcementon Thursday.