World Bank to invest $5 billion in bonds for poor

The World Bank will set up a $5 billion fund to invest in bonds denominated in currencies of poor nations.

The Bank's aim is to encourage investment from institutional investors and sovereign wealth funds in historically high-risk bond markets.

"This innovative move should help drive financial-sector development in emerging markets, boost prospects for growth, and help overcome poverty," said Robert Zoellick, the president of the World Bank.

He added: "It will help create a virtuous circle so

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