Cairo – Mubasher: The World Bank has allocated $18 billion in project financing for the African continent, the bank’s vice president for Africa Hafez Ghanem said.
It is worth noting that the bank raised the same sum for investments in the second-most-populous continent last year.
Ghanem added that Egypt had boosted its participation in the bank, which would raise its allocated financing compared to last year, according to Shorouk newspaper reported.
African governments are responsible for determining the sectors they want to invest in, he explained, noting that their demand for infrastructure projects, food provision, and human development has increased recently.
In June, the World Bank approved a $530 million grant for the development of Egypt’s healthcare sector.
