Global ministers warn of risk of rising poverty

By Lesley Wroughton

WASHINGTON (Reuters) - Global finance and aid ministers on Sunday called on rich donor nations to deliver aid to poor countries, warning that world poverty will rise sharply as more nations fall victim to the financial crisis.

The ministers from the 185 member countries of the World Bank and International Monetary Fund also said it may be necessary to raise more resources for the World Bank if the global crisis drags on.

"We urged donors to accelerate delivery of commitments to increase aid, and for us all to consider going beyond existing commitments," they said in a communique after a meeting here.

The ministers warned that the credit crisis, the worst since the Great Depression, risked derailing universally agreed U.N. targets to overcome poverty by 2015.

World Bank President Robert Zoellick said most of the U.N. Millennium Development Goals on poverty, hunger, education, equality, disease and infant mortality are unlikely to be met.

"We must continue to act in real time to prevent a human catastrophe," he said at a closing news conference.

Zoellick said the World Bank was well-capitalized and that the ministers had endorsed its plan to increase lending to middle-income countries by up to $100 billion over three years.

The ministers also called on the Bank to assess whether it has enough resources to aid the poorest nations, and asked it to report back by October.