Washington DC, November 11, 2008—Economists estimate a one percent decline in growth in developing countries pushes an additional 20 million people into poverty. And growth is expected to slow in developing countries at a greater rate than previously anticipated, because of financial turmoil worldwide.

Already, the World Bank estimates, high food and fuel prices have driven 100 million people into poverty. So to help protect the poorest, and minimize cuts in government investments in basic services like education, the World Bank its prepared to triple its lending to developing countries.... from $13 billion to $35 billion this year.

The Group of 20— the leaders of developing countries like India, China and Brazil, as well as the leaders of high income countries—is meeting in Washington this weekend. Zoellick would like global leaders to work together to help the world’s 78 poorest countries, 39 of which are in Africa.