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World Bank Annual Report 1998 : South Asia

By The World Bank

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Book Id: WPLBN0000198623
Format Type: PDF eBook
File Size: 0.3 MB
Reproduction Date: 2005

Title: World Bank Annual Report 1998 : South Asia  
Author: The World Bank
Language: English
Subject: Economics, Finance & business, World Bank.
Collections: Economics Publications Collection
Publication Date:
Publisher: The World Bank


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Bank, T. W. (n.d.). World Bank Annual Report 1998 : South Asia. Retrieved from


The South Asia (SAS) region continued to demonstrate economic progress and remained relatively unscathed by the financial and economic crisis in neighboring East Asia. The crisis emphasized the urgency of financial sector reforms to which the Bank and its clients were already committed. In fiscal 1998, World Bank loans, technical assistance, and policy advice focused especially on helping its South Asia regional clients reduce poverty by strengthening economies, developing private sectors, and investing in people through socially and environmentally sustainable development. To help improve the Bank?s operations and make them more responsive to client needs, about half of the staff who work with South Asian countries did so from one of the region?s five field offices. In spite of the financial turmoil in neighboring East Asia, most of the countries of South Asia continued to record satisfactory gross domestic product (GDP) and export growth in 1997. Foreign investment in the region continued to grow, with net long-term resource flows reaching the highest level on record. Nonetheless the region still receives just 3.6 percent of net private long-term flows to developing countries, accounts for only 1 percent of world trade, and is home to roughly 40 percent of the world?s poor.


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