21 Dec Africa: World Bank Commits $50 Billion To Spur Growth in Poorest Nations
Posted at 06:46h
in News
The World Bank through its fund for the poorest countries, International Development Association (IDA), has agreed to disburse $49.3 billion to combat poverty and spur growth in the poorest nations.
The funds will support some 79 countries over the next three years, focusing on financing infrastructure, improving health services, educating children, and combating climate change, the Bank said in a press stamen yesterday.
According to the Bank, the funding for the sixteenth IDA replenishment (IDA16) is up 18 percent on the previous round three years ago. A total of 51 donors pledged to IDA16, which covers the period from July 2011 to June 2014.