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Economy

World Bank arm backs Asian small businesses to stem COVID job loss

IFC channels $1bn to keep companies afloat through economic slowdown

Small businesses, like this food stall in Bangkok, “are the backbone of most economies” in Asia, according to Vivek Pathak, director for East Asia and the Pacific at the International Finance Corp. (Photo by Akira Kodaka)

HONG KONG -- Asia must focus on sustaining small businesses to support economic recovery from the coronavirus pandemic, according to a top World Bank Group official for the region.

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