The two-digit growth rate that was achieved in 2007 in East Asia and Pacific will continue its downward trend this year, following the slowdown that began in 2008. Nevertheless, many countries in the region are better prepared to cope with the financial crisis than those in most other developing regions.

In fiscal year 2009, total World Bank funding for East Asia and Pacific almost doubled, to $8.2 billion. IBRD commitments alone nearly tripled, from $2.6 billion in fiscal 2008 to $7 billion this year. The top funded sectors in the region were Law, Justice, and Public Administration; Transportation; and Water Sanitation and Flood Protection. These three sectors received 46 percent of total Bank funding in the region.