WASHINGTON ? The World Bank said Thursday it had committed a record amount of aid to developing countries in the past 12 months to help them cope with a fitful global economic recovery.
An "unprecedented" level of assistance, $72.2 billion, was extended in the 2010 fiscal year that ends on June 30, "as the world faces a fragile and uneven recovery," the development lender said in a statement.
The commitments, which include loans, grants, equity investments and guarantees, increased 23 percent from the prior fiscal year.
The World Bank said it had supported an estimated 875 projects "to promote economic growth, overcome poverty and promote private enterprise."
All three of the 187-nation institution's division increased their assistance to record levels, it said.
The International Bank for Reconstruction and Development, which provides financing risk management products and other financial services to countries, hit a record $44.2 billion, an increase of 34 percent from the previous year's record of $32.9 billion.
Commitments from the International Development Association, the arm that provides interest-free loans and grants to the world's 79 poorest countries, rose to a new record high of$14.5 billion from 14 billion in fiscal 2009.
The International Finance Corporation ? the largest provider of multilateral financing for the private sector in developing countries ? had almost $18 billion in investments, according to preliminary and unaudited data as of June 29, the Washington-based bank said.
IFC investments totaled $14.5 billion in the prior fiscal year.