DEVELOPING COUNTRIES '$ 270 BN' SHORT

The world's poor will be left to fend for themselves
as rich nations cope with budget pressures [EPA]

Developing countries may face a financing gap of $270bn to $700bn this year as trade income dwindles and rich nations vie for capital to deal with a global slump, the World Bank says.

The World Bank said on Monday that international financial institution resources would not be sufficient to meet their needs as more and more emerging and developing countries are hit.

"Should a more pessimistic outcome occur, unmet financing needs will be enormous," the World Bank said in a paper prepared for meetings of the G20 group of countries in London in April.

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