The World Bank and the German government said Thursday that they hoped to inject as much as $600 million into microcredit banks, fledgling institutions in developing countries that are being starved of financing as the credit markets have tightened.
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People who follow contemporary art may recognize the improvised atmosphere: it almost feels like a hotel art fair, only much neater. Instead of small rooms, there are small booths, on three levels. The building was once a Christian Science church; a large pipe organ looms over the main double-height space, now called a ballroom.But fledgling status has its benefits, refocusing being one. There is no tribal art in this year’s fair. There is less contemporary art and a more concerted effort to relate what there is to historical material.
fledgling (NEW), fledgeling Hide phonetics
adjective [before noun]
new and lacking experience:
The current economic climate is particularly difficult for fledgling businesses.