/world business
(CNN) -- The World Bank announced a "fast-track" assistance program for countries in dire economic straits Wednesday, aiming to make $2 billion in financial aid available more quickly for struggling nations.
Under previous guidelines, a country could wait as long as six weeks to receive money from the World Bank. The new program aspires to make funds available within a month, bank officials told CNN.
"We want to help countries manage this downturn with financing to help minimize its impacts and by assisting them in designing supportive policies," World Bank Group President Robert Zoellick said in a statement announcing the plan.
The $2 billion will come from the institution's $42 billion International Development Association program. The money will be available to the 78 countries that are a part of the IDA borrowers list, which consists of the most poverty-stricken nations worldwide.
The bank said it had not received any requests yet for funds through the fast-track program, but it expected to see application in the next few days.
All About The World Bank Group • Economic Issues
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