Saturday, February 12, 2011

World Bank To Double Its Aid To Africa To Achieve MDGs

The World Bank has committed to fund development projects to help Africa meet and sustain Millennium Development Goals (MDGs) beyond 2015. Speaking in a meeting to celebrate Africa Capacity Building Foundation's 20th anniversary in Kigali, Rwanda on Wednesday, the Managing Director of the World Bank said that the World Bank would double its annual aid to Africa to help the continent meet the MDGs. The Bank said that its funding would target the key sectors of agriculture, health and education.

The Bank also said that the continent's economy is expected to grow some 6% this year, and it is important to maintain the progress in capacity development with particular focus on youth and women programs. The meeting was also attended by heads of State and development institutions in Africa.

-Nisha Noor