Browsing: World Bank concessional financing in Africa

World Bank's concessional financing
  • 19 African Heads of State seek to triple IDA’s financing capacity to $279 billion by 2030.
  • IDA remains [Africa’s] most dependable source of capital, with every dollar of donor financing enabling an additional $3.5 in capital market leverage to amplify development impacts: President Ruto
  • We are united by a shared vision for the future of Africa—a continent rich in diversity, culture, and potential, thanks to its young people and natural resources: The World Bank Group President Ajay Banga.

In a historic gathering of 19 African Heads of State and government in Nairobi, Kenya’s President William Ruto has ramped up calls for increased concessional financing from the World Bank’s International Development Association (IDA).

The rallying call, which was made during the International Development Association (IDA21) for Africa Heads of State Summit held at the Kenyatta International Convention Centre (KICC) in Nairobi, reverberated with urgency and determination.

President Ruto’s plea sought …