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WASHINGTON DC - The World Bank's Board of Executive Directors today approved a US$ 10 million scale up of the highly innovative Index Based Livestock Insurance Project (IBLIP) in Mongolia.

WASHINGTON DC - The World Bank's Board of Directors approved a US$500 million development policy loan (DPL) today to promote an efficient, equitable and inclusive Social Protection System in Colombia, as well as to mitigate the impact of the global economic crisis on that South American country.

Washington DC - The Board of Directors of the World Bank approved today a US$229 million loan for the Republic of Argentina to support an emergency project for the prevention and management of influenza type illness and strengthening of the epidemiological system.

WASHINGTON - The World Bank Board of Directors approved today a US$200 million loan for Jamaica to support the government's comprehensive reform program to address fiscal and debt sustainability. The initiative is a coordinated effort by multilateral development banks and the International Monetary Fund to help the Government of Jamaica sustain its long-term development agenda.

South Asia appears to have escaped the worst effects of the global economic crisis, according to a recently released World Bank report, Global Economic Prospects 2010. However, the region's GDP growth of 6% in 2009 remains unchanged from 2008.

The Mongolian economy has weathered the worst of the global crisis and is projected to rebound strongly in 2010, driven by investment in the Oyu Tolgoi mining project. The medium-term prospects are also favorable given Mongolia's vast mineral wealth, although prudent macroeconomic management will be required to ensure that these resources translate into prosperity for all of its citizens.

The private sector in Haiti will by allowed to play its role fully if the new proposal is implemented in the country. The International Monetary Fund (IMF) and the government in Haiti are already working on such a proposal.

Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), today notified the Fund's Executive Board of his intention to name Mr. Zhu Min, currently Deputy Governor of the People's Bank of China, as a special advisor to the Managing Director.

Egypt's economy has been resilient to the crisis. Financial contagion was contained by limited direct exposure to structured products and low levels of financial integration with world financial markets. Sustained and wide-ranging reforms since 2004 had reduced fiscal, monetary, and external vulnerabilities, and improved the investment climate. These bolstered the economy's durability and provided breathing space for appropriate policy responses.

Director-General Pascal Lamy, in his speech to the European Policy Centre in Brussels on 24 February 2010, said that one year on from the onset of the financial crisis “the multilateral trading system has proven its sturdiness as a bulwark against runaway protectionism”. He stressed that today there is “economic imperative” to conclude the Doha Round.