The World Bank and African Development Bank (AfDB) invested more than 1,1 billion US dollar (over 6 mia. DKR) in infrastructure development in the past 12 months as the continents economic recovery initiative gathered pace, the World Bank press review reports Monday.
The World Bank has earmarked a further 500 million US dollar to boost agricultural research in a region often battered by capricious weather, said Wiseman Nkuhlu, CEO of the New Partnership for Africas Development (NEPAD).
The African Development Bank has approved 580 million and the World Bank 570 million dollar for energy and infrastructure in West and southern Africa, he said.
Nkuhlu spoke in Johannesburg at a forum to mark NEPADs third anniversary, where he lamented the lack of progress on multilateral trade negotiations and debt cancellation. Nkuhlu said dialogue with the G8 and Organization for Economic Cooperation and Development (OECD) countries was still at a delicate stage and needed to be nurtured sensitively.
