The World Bank Group President, Mr Jim Kim said the bank
would be investing 57 billion dollars to accelerate growth and development In
Sub-Saharan African countries over the next three years.
In a statement released to Nigerian journalist by the Senior
Communications Officer, World Bank Nigeria, Mrs Olufunke Olufon, on Monday in
Abuja, Kim said the money would be raised by three subsidiaries of the group.
According to Kim, the funding will run from July 1, 2017, to
June 30, 2020.
“The bulk of the financing, 45 billion dollars will come
from the International Development Association (IDA), the World Bank Group’s
fund for the poorest countries.
“The financing for Sub-Saharan Africa also will include an
estimated eight billion dollars in private sector investments from the
International Finance Corporation (IFC), a private sector arm of the Bank
Group.
“Four billion dollars in financing, will come from the
International Bank for Reconstruction and Development, its non-concessional
public sector arm,” he said.
Kim said the move presented an opportunity to change the
development trajectory of the countries in the region, including Nigeria.
Source:guardian.ng
No comments:
Post a Comment