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World Bank to invest $5 bln in 11 African countries

PUBLISHED: Mon, 11 Jan 2021 14:26:00 GMT

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WASHINGTON, Jan 11 (Reuters) – The World Bank on Monday said it would invest over $5 billion over the next five years to help restore degraded landscapes, improve agriculture productivity, and promote livelihoods in 11 African countries as they recover from the COVID-19 pandemic.

World Bank Group President David Malpass said the investment would help improve livelihoods as those countries recovered from COVID-19 and dealt with the impact of biodiversity loss and climate change.

The funds would benefit countries in the Sahel region, Lake Chad and Horn of Africa, the Bank said in a statement.

(Reporting by Andrea Shalal Editing by Chizu Nomiyama)

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