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World Bank aims to save $400 mn in overhaul

The World Bank is aiming to save $400 million over three years in an overhaul of the poverty-fighting institution, a person familiar with the matter told AFP Tuesday. "What we're looking at is, over three years, achieving a cost saving of $400 million" on the $5 billion needed annually to operate the World Bank and its five branches, said the person, who spoke on condition of anonymity. Asked whether the new strategy would lead to job cuts, the source simply said that management was hoping to "find ways with minimized disruptions."

World Bank aims to save $400 mn in overhaul

The World Bank is aiming to save $400 million over three years in an overhaul of the poverty-fighting institution, a person familiar with the matter told AFP Tuesday. "What we're looking at is, over three years, achieving a cost saving of $400 million" on the $500 billion needed annually to operate the World Bank and its five branches, said the person, who spoke on condition of anonymity. Asked whether the new strategy would lead to job cuts, the source simply said that management was hoping to "find ways with minimized disruptions."

World Bank delivers record aid to poorest countries

The World Bank said on Tuesday it had delivered record aid to the poorest countries in the past year, half of it to Africa, despite a difficult global economy. Commitments for the International Development Association (IDA), the Bank arm that provides interest-free loans and grants to the world's poorest countries, reached an all-time high of $16.3 billion in the 2013 fiscal year that ended June 30, the institution said in a statement.

World Bank sets 'expiration date' on poverty

The World Bank gathered the might of the international community Saturday behind its audacious plan to eradicate extreme poverty within a generation. "This is it. This is the global target to end poverty," said World Bank President Jim Yong Kim, visibly pleased after the International Monetary Fund and the Bank endorsed the poverty offensive. "For the first time in history, we have committed to setting a target to end poverty. We are no longer dreaming of a world free of poverty," Kim said at a news conference.

World Bank sets 'expiration date' on poverty

The World Bank gathered the might of the international community Saturday behind its audacious plan to eradicate extreme poverty within a generation. "This is it. This is the global target to end poverty," said World Bank President Jim Yong Kim, visibly pleased after the International Monetary Fund and the Bank endorsed the poverty offensive. "For the first time in history, we have committed to setting a target to end poverty. We are no longer dreaming of a world free of poverty," Kim said at a news conference.
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