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The World Bank Annual Report 1998 : East Asia and Pacific

By The World Bank

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Book Id: WPLBN0000189426
Format Type: PDF eBook
File Size: 0.4 MB
Reproduction Date: 2005
Full Text

Title: The World Bank Annual Report 1998 : East Asia and Pacific  
Author: The World Bank
Language: English
Subject: Economics, Finance & business, World Bank.
Collections: Economics Publications Collection
Publication Date:
Publisher: The World Bank


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Bank, T. W. (n.d.). The World Bank Annual Report 1998 : East Asia and Pacific. Retrieved from


Responding to the economic and financial crisis dominated the Bank?s assistance program to the East Asia and Pacific (EAP) region in fiscal 1998. The Bank supported countries in their efforts to restructure their financial sectors, reform corporate governance, and provide social safety nets in the face of mounting unemployment, declining incomes and public expenditures, and rising prices for staple commodities, which primarily affect the poor. The Bank pledged some $16 billion, in addition to its regular lending program, to address the extra demands that arose from the crisis. By the end of the fiscal year, $565,000 million of this had been disbursed. Parallel to this effort, the Bank continued its regular operations, supporting clients with programs to promote economic and social reforms, reduce poverty, and build institutional capacity. In response to natural disasters, emergency assistance was extended to China, Indonesia, Papua New Guinea, and Vietnam.


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