World Bank chief heads to East Africa after announcing $57 bln in financing for Africa

Washington, United States | 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...

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