Africa: World Bank Commits Record $5.8 Billion to the continent

The World Bank Group committed a record $5.8 billion in International Development Association (IDA) resources to Sub-Saharan Africa in the last fiscal year, $1 billion more than in the previous year. In addition, the International Finance Corporation (IFC), the Bank Group’s private sector arm, provided $1.38 billion in financing for its own account and mobilized an additional $261 million in financing through syndications.