16:27 GMT +306 December 2019
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    World Bank President Jim Yong Kim speaks at a press conference during the 2016 International Monetary Fund, World Bank Spring Meetings at IMF headquarters on April 14, 2016

    World Bank to Provide $25Bln in Loans in 2016, $10Bln More Than Expected

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    World Bank Group President Jim Yong Kim said that the World Bank plans to provide more than $25 billion in loans this year to middle income countries, it's $10 billion more than expected.

    WASHINGTON (Sputnik) — The World Bank is planning to provide at least $25 billion in financial aid to middle income countries throughout 2016, which is $10 billion more than originally planned, World Bank Group President Jim Yong Kim said in a press conference on Thursday.

    "Because of the weak global economy and because of global challenges, the demand for our services has never been higher outside of a crisis period," Kim stated. "We project that we will provide more than $25 billion in loans this year to middle income countries. That is $10 billion more than we had projected."

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