World Bank in talks to help Greece, Portugal

WASHINGTON—The World Bank is discussing providing technical assistance to struggling Greece and Portugal in a rare deployment of its resources to developed economies, a bank official said Monday.

“Early discussions are under way with both Portugal and Greece, at the request of the two governments, on the possible provision of technical assistance,” said spokesman Frederick Jones.

With Greece, he said, talks are focused on reforms in the country’s business environment that could be pursued to help boost economy growth.

Talks are at an earlier stage with Portugal, which like Greece is under a European Union-European Central Bank-International Monetary Fund bailout tied to deep fiscal and structural reforms.

Focused on aiding the world’s poorest countries, the World Bank has seldom been asked for help by developed economies.

Jones said the work with Portugal and Greece comes after World Bank President Jim Yong Kim said earlier this year that the bank was willing to help European countries mired in economic difficulties.