The combination of ongoing deleveraging by banks and households, increased fiscal austerity and declining confidence is expected to restrain growth across the advanced economies.   The Bank now expects that the euro area – where these dynamics are most acute – will experience a brief recession.
We are also pleased to share that the Asian Development Bank (ADB) and the World Bank (WB) have committed resources to support various NSFI elements. For example, ADB will focus its technical assistance on strengthening microfinance NGOs; deepening agricultural value chain financing; and promoting e-payments, digital financial services and microinsurance.