Developing countries are now facing a triple hit – food, fuel and finance, the World Bank President, Robert B Zoellick warned today. Speaking ahead of the annual meetings of the Bank and IMF, Mr Zoellick said governments must look beyond the financial crisis to contain a mounting human crisis that could push millions of the worlds poorest people to the brink of survival, and wipe out development gains.
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http://www.weforum.org/en/initiatives/gcp/FinancialDevelopmentReport/index.htm
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The second largest private sector lender in India, the housing development Finance Corporation or HDFC has acquired an additional 10 per cent stake in HDFC asset management company AMC. HDFC AMC is the investment manager to HDFC mutual. It is also the third largest private sector mutual fund with equity assets constituting around 44 per cent of the total funds under management and also provides portfolio management and advisory services to domestic and offshore clients with funds under management.
On October 1, 2008, Dutch development bank FMO organized a seminar to mark the departure of Arthur Arnold as CEO and the handover to Nanno Kleiterp as new CEO of FMO. This seminar was about ‘The Future of Development Finance’.