North Korea is not a member of the Bank. The Bank only provides for the use of its facilities and resources by member countries, so we are not currently providing assistance to North Korea. The bank has taken steps to prepare itself to provide such assistance, if and when it becomes possible, by appointing a senior Bank executive to develop a relationship with the North Korean government.
Didn't the bank's actions during the Asian financial crisis make things worse?
No, the Bank's financial support during the Asian financial crisis—totaling more than $8 billion—provided the short-term funds that Indonesia, Korea, Malaysia, Thailand, and the Philippines needed to get through the crisis, without even deeper cuts in spending on basic social services. This support also underpinned broader reforms to help these countries address the vulnerabilities behind the crisis, particularly in areas such as financial sector reform, competition policy and regulatory reform, and social safety nets for vulnerable groups. This money went to projects dealing with the social consequences of the financial crisis, generating jobs, fostering rural development, and supporting educational projects, among others.
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