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World Bank rules out immediate crisis fund for Southeast Asia -
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Contributed by World News
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by P. Parameswaran 9 minutes ago WASHINGTON (AFP) - The World Bank pledged Wednesday to help Asian nations hit by financial turmoil but ruled out immediate prospects for a funding facility for Southeast Asia to cope with the current crisis. "We stand ready to support all of our member countries across East Asia to deal with the challenges arising from the financial crisis," said Jim Adams, the World Bank's East Asia and Pacific regional vice president. He said however the bank did not expect a regional fund to be set up for the purpose following a statement by Philippine President Gloria Arroyo that a "standby facility" would be established to help Southeast Asian...
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