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World Bank plans $7.5 billion investment in Sahel between 2020 and 2023

Friday, 21 February 2020 16:06
World Bank plans $7.5 billion investment in Sahel between 2020 and 2023

(Ecofin Agency) - The World Bank will invest $7.5 billion in the countries of the Sahel region between 2020 and 2023, the Bank’s Managing Director of Operations, Axel Van Trotsenburg (pictured) reported during a press briefing held on Wednesday 19 February 2020 in Ouagadougou.

According to him, these investments are mainly aimed at supporting the implementation of structural reforms and supporting the private sector for job creation. It will also make it possible to build infrastructure, strengthen access to electricity and provide care for refugees.

The Sahel region has been facing major security challenges and instability in recent years caused by armed groups, including Islamist extremists. And according to many analysts, the security approach alone will not be enough to stabilize the region. At the same time, experts call for a comprehensive development program that will positively transform economies, improve the living conditions of the people and give hope to the young.

The funds allocated to the countries of the Sahel are part of a total financing of $53 billion mobilized by the World Bank last December for low-income African countries.

André Chadrak

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