(Ecofin Agency) - The World Bank has pledged $175 million to support development projects in Comoros, the institution announced at the Development Partners Conference for Comoros held in Paris on December 2 and 3, 2019.

This funding, consisting of grants and concessional credits, is expected to strengthen the human capital through higher investment in nutrition and welfare programs. Funds will also be pumped into the country’s recovery and reconstruction of roads and damaged housing, the aftermath of cyclone Kenneth. The World Bank fund will also go for the promotion of the private sector, the development of value chains in agriculture and tourism, and the improvement of inter-island connectivity, renewable energy supply, and digital finance with better financial inclusion. The projects are part of the country’s National Emergent Plan that runs from 2020 to 2022.

“With this new financing, the World Bank is committed to accompanying Comoros in its efforts to achieve an inclusive and sustainable growth,” said Mark Lundell, World Bank’s Country Director for Mozambique, Madagascar, Mauritius, Comoros, and Seychelles.

Moutiou Adjibi Nourou