World Bank 'to step up investment' in Africa

20 September 2010

The World Bank has announced it is going to increase its efforts to encourage investment in the continent of Africa over the next five years.

Since the introduction of the Millennium Development Goals in 2000, the International Development Association (IDA) - the World Bank's fund for the poorest - has helped save 13 million lives.

Robert Zoellick, president of the organisation, notes: "Over the last ten years, IDA has increased its no-interest and grant funding in support of developing countries from $4.4 billion (£2.8 million) in 2000 to $14.5 billion this year."

He remarks in the future the body will be concentrating on getting as many people access to basic human privileges - such as clean water, energy and food.

Since 2000, IDA-funded programmes have provided access to water and sanitation for 177 million people.

According to This Day, the Nigerian government has reaffirmed its committed to proceeding with hydropower generation.

Categories: General

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