WASHINGTON, Nov 11 (Reuters) - The World Bank on Tuesday slashed its 2009 economic growth forecast for developing countries and offered new financing of more than $100 billion over the next three years to help them cope with the global financial crisis.
The World Bank revised down its growth forecast for developing economies to 4.5 percent for next year, down from 6.4 percent it projected in June, due to a combination of financial turmoil, slower exports and weaker commodity prices.
It now sees advanced economies contracting by 0.1 percent next year, slashing its previous projection for growth of 2 percent. It said world economic growth was expected to slow to just 1 percent in 2009 from a previous forecast of 3 percent. (Reporting by Lesley Wroughton; Editing by James Dalgleish)