WORLD BANK MOBILIZED RECORD SUPPORT FOR AFRICA'S ECONOMIC GROWTH AND DEVELOPMENT PROSEPECTS IN FY 13

WASHINGTON, July 29, 2013 

The World Bank Group committed a record US$14.7 billion in fiscal year 2013 (July 2012 to June 2013) to support economic growth and better development prospects in Africa despite uncertain economic conditions in the rest of the global economy.

“The region has shown remarkable resilience in the face of a global recession and continues to grow strongly,” said Makhtar Diop, World Bank Vice President for the Africa Region. “Africa is at the center of the World Bank Group 2030 goals of ending extreme poverty and promoting shared prosperity, in an environmentally, socially, and fiscally sustainable manner.”

The World Bank Group continued its strong commitment to Africa approving $8.25 billion in new lending for nearly 100 projects this fiscal year (FY13). These commitments=>READ MORE