World Bank President Robert Zoellick Today warned that protectionism was rising as governments battle to keep domestic industries alive, and called on wealthy nations to invest more money in social services for poor countries struck by the global recession, according to dpa. "The danger of protectionism is increasing," Zoellick said at a press conference in Washington, ahead of a semi-annual meeting of members of the World Bank and its sister lender, the International Monetary Fund (IMF), this weekend. Global trade is projected to shrink 11 per cent this year, the IMF said Wednesday, feeding a global recession considered the worst since World War II. The World Bank last month said 17 of the world's top 20 economies had adopted at least some policies that reduced trade, but Zoellick added that countries had so far resisted taking "major" anti-trade measures. The World Bank also announced that it was increasing infrastructure projects by 15 billion dollars over the next three years to help jump-start the economies of developing countries. Agriculture projects will be boosted by 8 billion dollars in the next two years. Zoellick pushed wealthy countries to give more money for social programmes in education and health that have taken a hit during the global recession.
