The spreading global economic crisis is trapping up to 53 million more people in poverty in developing countries and, with child mortality rates set to soar, poses a serious threat to achieving internationally agreed targets to overcome poverty.

Zoellick has recently called for the establishment of a “Vulnerability Fund” in which each developed country devoted 0.7% of its stimulus package to the fund. Three priority areas for the Vulnerability Fund are: safety net programs, infrastructure investments, and, support for small and medium-sized enterprises and microfinance institutions.

VietNamNet/ND