World Bank Pledges a Record $57 billion For Projects in Sub-Saharan Africa

Must Read

African Tribe: The Dinka People Of South Sudan

The Dinka are a pastoral-agricultural people that make up the largest ethnic group in South Sudan. They vary their...

For The First Time, Married Women In Botswana Can Own Land Alongside Their Husbands

Married women in Botswana can for the first time be allocated state land even if their husbands already have...

Slave Brokerage: How Early U.S. Newspapers Facilitated The Sales And Purchase Of Slaves

In the earliest history of US stock brokerage, one stock stood out both in nature and the revenue it...



World bank pledges money to sub-saharan african nations

The World Bank has announced that it will commit a record $57 billion in financing for sub-Saharan Africa in an effory to change the development trajectory of the countries in the region.

According to World Bank Group president, Jim Yong Kim, the funds will go towards a vast number of projects over the next three fiscal years, from July 1 2017 to June 30, 2020.

Kim pointed out that the bulk of the resources, about $45 billion, will come from the world banks special fund for the poorest nations the International Development association (IDA).

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

The package will also feature an estimated $8 billion in private sector investments from the International Finance Corporation, the Bank’s private sector arm and $4 billion will be from the Bank’s unit for middle-income nations.

Analysts have welcomed the fresh financing saying it will be critical with a view to help sub-Saharan African countries reach their full potential as they tackle conflict, climate change etc.



Uzonna Anele
Anele is a web developer and a Pan-Africanist who believes bad leadership is the only thing keeping Africa from taking its rightful place in the modern world.

Subscribe to receive email updates

With a subscription profile, you automatically receive updates without having to return to the website and check for changes

Just In

African Tribe: The Dinka People Of South Sudan

The Dinka are a pastoral-agricultural people that make up the largest ethnic group in South Sudan. They vary their...

Slave Brokerage: How Early U.S. Newspapers Facilitated The Sales And Purchase Of Slaves

In the earliest history of US stock brokerage, one stock stood out both in nature and the revenue it generated – humans. The more...

Two African Writers Shortlisted For The 2020 Booker Prize

Two African Authors — Zimbabwe's Tsitsi Dangarembga and Ethiopian's Maaza Mengiste — have been shortlisted for the 2020 Booker Prize for Fiction.

Dr. John Emeka Akude: Nigerian Makes History As The First Black Elected Member Of Cologne City Council In Germany

A Nigerian has made history as the First black man to be elected member of Cologne’s City Council in Germany. Dr. John Emeka Akude, a...

More Articles Like This