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safety nets

Justin Lin on developing economies at The Economist

Sameer Vasta's picture

During the G20 Summit two weeks ago, World Bank Senior Vice President & Chief Economist Justin Lin spoke to The Economist about the global financial crisis and the importance of social safety nets.

You can listen to the interview using the player below:

You can also download the interview here, or listen to it directly on The Economist website.

Critical investments in safety nets to rise

Sameer Vasta's picture

Ngozi Okonjo-Iweala, World Bank Group Managing DirectorIn light of the global economic crisis, the World Bank announced today that its investments in safety nets and other social protection programs in health and education are projected to triple to $12 billion over the next two years.

Additionally, the Bank also increased its fast track facility for the food price crisis to US$2 billion from US$1.2 billion. As World Bank Group Managing Director Ngozi Okonjo-Iweala explains:

"The continuing risky economic environment, combined with continuing volatility for food prices, means for poor people the food crisis is far from over. Many poor countries have not benefitted from some moderation of food price spikes in global markets. The decision to expand the facility will help ensure fast track measures are in place for continued rapid response to help countries."

More information about today's announcements: