The end of the financial crisis is in sight, but countries will suffer its effects for years to come. The World Bank predicts a global growth rate of 2.7 percent in 2010.

In its annual report Global Economic Prospects 2010, the World Bank says developing countries in particular will feel the effects of the crisis. It predicts that, in next seven years, the economies of poor countries will grow 0.7 percent less than they would have if there had been no crisis. The reason is that banks will remain cautious, becoming increasingly strict about giving credit.

The World Bank has warned countries like China and Brazil to further develop their own banking sector as a result. Poor countries which are not capable of this will need international assistance.

Photo: World Bank headquarters in Washington - Wikimedia