No-one really expects bureaucrats to solve financial problems, but the latest announcement from World Bank president Jim Yong Kim is encouraging.
Speaking last week ahead of the World Bank/IMF Spring Meetings in Washington, Kim announced a series of measures aimed at strengthening the World Bank Group to better meet the evolving needs of clients. One of the highlights was a USD100 billion increase in the banks lending capacity for middle-income countries over the next decade. That followed a USD52 billion top-up in funds for the poorest nations last December.
Now, even if hand-outs arent the answer, theres no doubt that more money circulating through developing economies will stimulate not only their own efforts, but also the economies of their trading partners. And more trade and development means more stuff to move around and hence, more demand for materials handling. So the lending boost should have a direct impact on the forklift community as well as the struggling economies it aims to assist.