World Bank: Economic crisis turning into human and development "calamity"

WASHINGTON: The World Bank on Sunday urged donor nations to speed up delivery of the money they've already pledged - and open their wallets wider - to help poor countries reeling from recessions rooted in rich nations.

The economic nosedive is turning into a human and development "calamity," which already has driven more than 50 million people into extreme poverty this year, the World Bank's policy steering committee said in a communique issued at the close of its spring meeting.