Developing nations to make up half of global growth: World Bank

"One particular bright spot has been the growth in developing countries. Developing countries are expected to account for about one-half of global growth in several years ahead," said World Bank head Robert Zoellick at a press conference on Thursday.

"That's a very different world from the one even ten years ago. Their growth provides an important source of demand for exports in developed countries," he said.

Indeed, consumption and investment are contributing to strong growth in the developing world, which as a whole is forecast to reach 7.1 percent in 2010 and 6.4 percent for 2011, according to the International Monetary Fund (IMF) figures.

Emerging Asian nations as a whole are forecast to reach 9.4 percent this year and 8.4 percent next year, according to the IMF.

Developed economies will pale in contrast, at a 2.7-percent growth for 2010 and 2.2 percent for 2011, the IMF added.

But some developing countries are facing headwinds. While many have regained access to the capital market, bank lending remains weak, and is likely to be negative for this year as a whole.

"That will be particularly harder on smaller countries, poorer countries that don't have as good access to security markets," Zoellick said.

Another issue is that the food crisis of 2008 has never fully gone away for some developing countries; Kazinform cites China Daily.

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