Slow recovery
PA Washington The head of a World Bank affiliate that lends private companies money for thirdworld development projects said that it was unlikely there would be an improvement in the world economic outlook until late 1983 or bevond. Hans Wuttke, executive vice-president of the International Finance Corporation (IFC), told reporters that when an upturn came it would be' led by private entrepreneurs.
Mr Wuttke's comments coincided with the release of the IFC’s annual report, which showed a slowdown in the amount of aid earmarked for development projects but an increase in the number of specific projects. The IFC makes funds available to private companies seeking to develop specific industrial or agricultural projects. Mr Wuttke said; “We do not think the world will see any turnaround in economic activity for the next 12 to 18 months."
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Press, 4 September 1982, Page 20
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137Slow recovery Press, 4 September 1982, Page 20
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