world bank announces 57 bln in financing for africa
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

World Bank announces $57 bln in financing for Africa

Arab Today, arab today

Arab Today, arab today World Bank announces $57 bln in financing for Africa

World Bank President Jim Yong Kim
Washington - AFP

The World Bank on Sunday announced $57 billion in financing for sub-Saharan Africa over the next three fiscal years.

Of that total, $45 billion will come from the International Development Association, the World Bank fund that provides grants and interest-free loans for the world's poorest countries.

The package will also feature an estimated $8 billion in private sector investments from the International Finance Corporation, a private-sector branch of World Bank, and $4 billion will come from the International Bank for Reconstruction and Development, the bank's unit for middle-income nations, World Bank president Jim Yong Kim said in a statement.

Germany, which hosted a meeting of the G20 countries Friday and Saturday, said that a partnership called "Compact with Africa" would be a priority of its presidency this year of that club of powerful nations. Of all the countries in Africa, only South Africa is a G20 member.

"This represents an unprecedented opportunity to change the development trajectory of the countries in the region," Kim said.

"With this commitment, we will work with our clients to substantially expand programs in education, basic health services, clean water and sanitation, agriculture, business climate, infrastructure and institutional reform," he added.

Kim left for Rwanda and Tanzania on Sunday in a show of World Bank support for the entire region.

The new financing from the International Development Association will target 448 projects that are already underway in sub-Saharan Africa. The region accounts for more than half of the countries eligible for this kind of financing from the IDA, the bank said.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

world bank announces 57 bln in financing for africa world bank announces 57 bln in financing for africa

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

world bank announces 57 bln in financing for africa world bank announces 57 bln in financing for africa

 



GMT 12:05 2017 Thursday ,20 April

Iran FM slams 'worn-out' US nuclear accusations

GMT 18:04 2017 Wednesday ,18 October

Cash-loving Japanese savers opt to play it safe

GMT 16:33 2018 Friday ,07 December

Lavrov comments on Greek PM’s visit to Moscow

GMT 21:06 2016 Sunday ,28 February

Grave violations, human right abuses in Libya

GMT 07:07 2017 Sunday ,12 February

Night-time quake kills at least 6 in Philippines

GMT 22:20 2017 Sunday ,01 January

Egypt decries Istanbul nightclub attack

GMT 10:45 2017 Wednesday ,11 October

Tears in Damascus as Syria misses shot at World Cup

GMT 05:32 2017 Tuesday ,14 February

Ajman Crown Prince receives Belgian Foreign Minister

GMT 09:55 2017 Saturday ,21 January

Actress Jenny Esper keen to consider scenarios

GMT 14:48 2017 Thursday ,10 August

People declare their test of life after death

GMT 01:54 2012 Friday ,10 February

S Korea\'s Lee scoops gas deal on Qatar visit

GMT 11:40 2017 Wednesday ,15 February

Namibian parliamentarians urged to be orderly

GMT 13:00 2015 Monday ,23 November

China to grant ¥50bn RQFII quota to Malaysia
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday