(1888PressRelease)
April 28, 2009 - The steep global financial crisis risks turning into "a human and development calamity" for many poor countries, the World Bank said as it urged donor nations to speed up delivery of money they have already pledged and consider giving more.
The bank said Sunday that developing countries, who are its main constituency, face "especially serious consequences with the crisis driving more than 50 million people into extreme poverty, particularly women and children."
Hoffman Meyer Associates CEO, Douglas Morgan said “Some of the poorest economies are being hit by second and third waves of the crisis." He said “No one knows how long it will last or when recovery will begin.”
"There is a widespread recognition that the world faces an unprecedented economic crisis, poor people could suffer the most and that we must continue to act in real time to prevent a human catastrophe," the Hoffman Meyer Associates CEO said.
But he said “The World Bank would respond by tapping its healthy balance sheet to increase lending by up to $100 billion over three years and launch other initiatives in the fields of social protection, public works and agriculture.
Hoffman Meyer Associates is Seattle's leading merger and acquisition, business brokerage firm. As a mergers & acquisition firm, our principals have completed scores of transactions of privately and publicly held companies during the past 25 years.
Over the years, our firm has developed strong relationships with companies and individuals that are ancillary to the mergers & acquisition process including banks, mezzanine lenders, asset lenders, transaction attorneys, certified public accountants, and financial planners. We are also affiliate members of leading merger & acquisition, business valuation, accounting and brokerage associations.
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