The World Bank plans to Boost Lending to African Countries to Help Fight Poverty

David Malpass, who has pledged to step up the bank’s antipoverty mission, visited Madagascar, Ethiopia and Mozambique from April 29 to May 3, meeting leaders and stakeholders and visiting World Bank-funded projects. Malpass said he had visited Africa because the continent was a central part of the World Bank’s focus on alleviating poverty, as well as to assess the damage done by a cyclone that battered Mozambique, Zimbabwe and Malawi in March. The bank said on Friday that it had increased emergency support for the three affected countries to $700m. “The key take-away is that the economic challenges [in Africa] are really big, but the countries themselves are trying to work with those challenges and the World Bank is having programmes so that can help with that process.”

SOURCES: BUSINESS DAY LIVE

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