The World Bank voices dedication to North African infrastructure

27 July 2009

The World Bank is dedicated to investing in critical infrastructures in North Africa, it has claimed.

In 2009, the organisation donated $3.2 billion (£1.9 billion) to help Middle East and North African (MENA) countries grow economically, reduce poverty and create jobs.

Shamshad Akhtar, vice-president for the MENA region, explained the bank will continue to assist such locations to adhere to macroeconomic stability, achieve social cohesion and have the opportunity to benefit from global economic integration.

"Our focus will remain on supporting key macroeconomic policy reforms, investing in critical infrastructure as well as in human capital, and strengthening social safety nets, so that the hard-fought gains of reforms are not jeopardised," he stated.

The World Bank said it has placed a high priority to assisting countries respond to the fuel, food and economic crises.

Infrastructure expansion in Egypt, Jordan, Lebanon and Tunisia are among the projects the body has assisted financially with.

The World Bank is made up of two institutions - the International Bank for Reconstruction and Development and the International Development Association.

Category: General