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World Bank to protect vulnerable countries

Associated Press - October 12, 2008 4:13 PM ET

WASHINGTON (AP) - The World Bank has agreed to protect poor and vulnerable countries in the current financial turmoil.

The head of the bank's policy-setting committee, Mexican Finance Minister Agustin Carstens, said participants in the group's meeting Sunday made the commitment unanimously.

He said the bank will try to remain flexible in dealing with the differing circumstances that might prevail in poor countries and nations with rapidly developing economies.

Carstens said the bank and its sister institution, the International Monetary Fund, will draw on the full range of their resources to help these countries.

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