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Long-term finance emerging markets' choke point

They are struggling to mobilise funds to build schools, roads and power stations to spur growth: World Bank

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The World Bank's Global Financial Development Report says that a shortage of long-term finance is hampering the ability of creditworthy families to borrow for education and housing needs and escape poverty.

Tokyo

EMERGING markets are suffering collapses in the run-up to a decision by the US Federal Reserve on raising interest rates but emerging economy financial systems in general face a wider attack in a new World Bank report on shortages of long-term funds for development.

"Shortage