Economics
Global Lenders Pledge $38 Billion to Eastern Europe
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International lenders will support eastern Europe with more than 30 billion euros ($38 billion) in the next two years to shield it from the impact of the euro area’s debt crisis, mimicking a plan they implemented in 2009.
The European Investment Bank, based in Luxembourg, the Washington-based World Bank and the European Bank for Reconstruction and Development in London today agreed on an action plan for the region, they said in a joint statement. Under the plan, they will loan to and invest in private and public-sector projects including infrastructure, corporations and the financial industry, they said.