World Bank Provides US$5.7b Grants, Loans to Africa

The World Bank announced Monday that it provided a record US$5.7 billion in credits and grants to Sub-Saharan Africa in the fiscal year ending 30 June 2007, up from US$4.7 billion in fiscal 2006.

A statement from the bank in Accra, venue of the ongoing 9th AU Summit, said the development arm of the bank – International Development Association (IDA) - provided the funding.