The World bank has ring-fenced 52.6 billion U.S. dollars for developing countries in the fiscal year of 2012. The funding will be in loans or grants to help speed up economic growth.

The WB’s President Robert Zoellick, said in the statement that since he joined the institution in 2007, the World Bank has pledged 300 billion U.S. dollars in commitments mostly used to help countries overcome food and economy crises. In June this year, the WB estimate of growth reduced this year in developing countries to 5.3 percent, from an initial 5.4 percent in January. The WB said it will promote opportunities and services for disadvantaged people in the education and health sectors.