WB president: Bank to invest dlrs 45 bn in Africa in coming 3 years

CAIRO - 14 October 2018: World Bank President Jim Yong Kim said the bank will invest dlrs 45 billion in Africa in the coming three years.

He made the remark during a meeting with the African Group under Egyptian Investment Minister Sahar Nasr. The meeting was held on Sunday on the fringe of the annual meetings of the World Bank and the International Monetary Fund (IMF) in Bali.

He said the funds will go for developing education, basic health services, sanitation and agriculture as well as clean water supply and improving the investment climate and infrastructure.

He added that the bank is ready to offer more support for Africa to upgrade education.

Meanwhile, he commended Egypt's efforts as the chair of the African Group, saying that Egyptian Investment Minister Sahar Nasr was carrying out innovative works.

During the meeting, Nasr invited African banks' governors to attend "Africa 2018 Forum" which is due to be held under the patronage of President Abdel Fattah El Sisi.

The event will be held in Sharm El- Sheikh on December 8-9.

The meeting will take place one month ahead of Sisi's chairmanship of the African Union in 2019.

During the meeting, the president will expound his all-out vision for development and integrated economic development in Africa.