World Bank has announced 57 billion US dollar financing for sub-Saharan Africa over the next three fiscal years (2017-2019).
Of that total, 45 billion dollars will come from the International Development Association (IDA), the World Bank fund that provides grants and interest-free loans for the world’s poorest countries, 8 billion dollars from the International Finance Corporation (IFC), a private-sector branch of World Bank and USD 4 billion dollars will come from the International Bank for Reconstruction and Development (IBRD), the bank’s unit for middle-income nations.
Takeaways from above News-
- World Bank headquarter is in Washington, D.C., U.S.A
- President of World Bank is Jim Yong Kin
- World Bank was Founded in 1944.
Source- Business Standard