Japan to invest $2 bn in World Bank crisis fund

WASHINGTON: Japan agreed to invest two billion dollars in a World Bank fund to help recapitalise banks in smaller emerging markets, the World Bank and Japan announced on Friday.

The announcement followed a meeting on Friday between Japanese Finance Minister Shoichi Nakagawa and World Bank president Robert Zoellick.

Japan's contribution would be the first to the fund, which was announced this week by Zoellick as part of a World Bank response to the global financial crisis battering economies.



"Japan's investment is a sign of the strong partnership between Japan and the World Bank Group. The contribution would be made through the Japan Bank for International Cooperation (JBIC) and would mark the successful launch of the fund," the World Bank and Japan said in the joint statement.