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World Bank seeks to increase lending to the developing world

(June 15, 2009) As the economic crisis continues to work its way through the global economic system, the World Bank is using the slowdown as an opportunity to increase lending to the developing world. According to the bank’s president, Robert Zoellick, the bank will increase its lending by $100 billion over the next three years. In 2009 alone, the bank plans to triple its lending from $13.5-billion to $35-billion.

China Suspends Construction Of Two Hydropower Dams In Yangtze River Region

(June 12, 2009) China Environment Ministry has suspended the construction of two hydropower dams in the upper Yangtze River region. The ministry has suspended because of the construction work was started without the necessary environmental assessments, which is illegal. These hydropower dams require additional environmental reviews to proceed. These hydropower dams are part of a projected CNY200 billion hydropower project along the Jinsha River tributary in southwest China.

Treasuries are out, Iraq debt is in

(June 12, 2009) The portfolio manager of Templeton Global Bond Fund, Michael Hasenstab, says he’s investing in Iraqi bonds rather than treasuries, U.K. gilts or Japanese bonds. He believes the massive amount of debt occured by the U.S. and other governments over the past year will drive up inflation, weaken their currencies and hamper economic growth.