World Bank offers aid on oil cost

  • 21/12/1999

  • International Herald Tribune (Bangkok)

The World Bank is ready to offer emergency funding to poor nations that face financial troubles because of high oil prices, James Wolfensoh, the Bank's president, said. At the same time, the World Bank is exploring ways to protect poor-country exporters of such commodities as cocoa or coffee that risk financial crisis because of slumping world prices and falling foreign exchange earnings, Mr. Wolfensohn, said in an interview with the International Herald Tribune.