World Bank could 'run out of money' within 12 months

The World Bank is close to 'running out of money', its president, Robert Zoellick, has disclosed.

By Edmund Conway, Economics Editor in Istanbul
Published: 8:36PM BST 02 Oct 2009

World Bank president Robert Zoellick has launched a major campaign secure more funding from rich nations Photo: REUTERS
The Bank, whose job it is to support low-income countries, has had to hand out so much cash in the wake of the financial crisis that it faces a shortfall in what it can spare for new projects within 12 months.

“By the middle of next year we will face serious constraints,â€