And limited access to private finance makes these countries vulnerable to economic shocks and the crises that cross borders, including climate change, forced migration, and pandemics.
Many are making rapid economic and social progress, and they play an ever larger role in finding solutions to global challenges.īut MICs also have more than 70% of the world’s poor people, often in remote areas. These countries are major drivers of global growth, home to major infrastructure investments, and recipients of a large share of exports from advanced economies and poorer countries. The World Bank Group engages with middle-income countries (MICs) both as clients and shareholders.
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