(Ecofin Agency) - The World Bank announced in a statement last week, it is investing about $53 billion to fight extreme poverty in Africa. The financing is part of a worldwide pro-poor investment of $82 billion, on the sidelines of the 19th replenishment of the resources of the International Development Association.

In Africa, activities will focus on helping countries to meet vulnerable people’s needs, boost their economy and improve their resilience to natural disasters and climate shocks. “The funding will allow IDA to reinforce its support to job creation and economic transformation, good governance, and accountable institutions. It will also help countries deal with the challenges posed by climate change, gender inequality, and situations of fragility, conflict, and violence, including in the Sahel, the Lake Chad region, and the Horn of Africa,” the statement read.
Let’s note that the 19th replenishment of IDA’s resources covers the period from July 1, 2020, to June 30, 2023 and has been supported by 52 governments. Additional contributions are expected in the near term.

Moutiou Adjibi Nourou