In good news for people living below poverty line, the World Bank has assured to sanction a whopping sum of $6.6 billion in fiscal year 2009 for poverty elimination in South Asia, having largest population living below poverty line.

Isabel M Guerrero, World Bank Vice President for South Asia said, "Millions of people are still suffering, and we must continue to help countries safeguard priority expenditures, including on essential infrastructure, investment in human capital, and social safety nets."

The move would help India, who will get $400 million, for promotion of economic growth, fighting poverty and setting up private business and improving conditions of recession hit India's Small and Medium Enterprises (SMEs).

Mr. Guerrero, said, "South Asian countries have been hard hit by a series of crises-food, then the fuel crisis, followed by the global financial crisis."

Pakistan will get US$1,609 million (IDA) to become second largest borrower after India while Bangladesh will get $1,096 million (IDA). Mr. Guerrero said that rapid financial assistance and policy advice is needed for Asian countries to recover economic growth and to protect people, especially poor and vulnerable society, from the adverse impact of global slowdown.