The World Bank Group committed 14.7 billion US dollars to support economic growth and better development prospects in Africa in 2013.
World Bank Vice President for the Africa Region Makhtar Diop in a statement said Africa is at the centre of the World Bank Group 2030 goals of ending extreme poverty and promoting shared prosperity in an environmentally, socially, and fiscally sustainable manner.
He said the Group continued its strong commitment to Africa approving 8.25 billion US dollars in new lending for nearly 100 projects this fiscal year.
Mr Diop explained that the commitments include 8.2 billion US dollars in zero-interest credits and grants from the International Development Association.
He said the Group’s support focused on major transformational projects in agriculture and power, social safety nets, conditional cash transfers for poor families, job creation programs for young people, and higher education.