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World Bank Sets Aside $27 Billion For Countries Hit By Eurozone Crisis


The $27 billion in funding will be made available to them over the next two years to help maintain fiscal balances, the World Bank says.

The $27 billion in funding will be made available to them over the next two years to help maintain fiscal balances, the World Bank says.

The World Bank is making $27 billion available for countries in central and eastern Europe and Central Asia hit hard by the eurozone crisis.

The bank said the eurozone crisis was hitting the former Soviet bloc countries hard by cutting trade, finance, and worker remittances crucial to their growth.

It said the $27 billion in funding will be made available to them over the next two years to help maintain fiscal balances, continue supporting small and medium-sized businesses, and create social safety nets for the people most vulnerable to the economic downturn.

compiled from agency reports
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