The World Bank has lowered its global economic forecast for this year in light of a slowdown in global trade and weak investment.

In its semi-annual Global Economic Prospects report released on Wednesday, the bank said global economic growth will accelerate marginally to two-point-five percent this year from a two-point-four percent pace last year. 

However, the revised outlook represents a downgrade of point-two percentage points from the bank's earlier projection made last June. 

The World Bank's vice president for equitable growth Ceyla Pazarbasioglu  said that downside risks persist and the recovery is fragile, adding uncertainty has weighed on confidence, trade and investment which are all critical for growth. 

The organization projected advanced economies to grow one-point-four percent this year, trimming its expectation by point-one percentage point from its earlier forecast.

It expected emerging and developing economies to grow four-point-one percent, down point-five percentage points from its previous projection due to a slowdown in trade and investment.