The amount is an increase of
The Breton Woods institution's projects in sub-Saharan Africa included sustainable energy, irrigation, water management, and food security, among others, according to a statement issued by the bank.
The regional 80MW Rusumo hydropower project to benefit
"We applaud the improved policies and prudent fiscal decisions many governments have made and we will continue to provide financing through loans and grants and technical expertise," the
During the fiscal year, the bank dished out US
This is the highest level of IDA delivery by any region in the bank's history, according to the statement. Through its private investment arm, the
"IFC investments on the continent amounted to over US
IFC also spent US
On the other hand, the
The agency also teamed up with the
The bank noted with concern however that despite the fact that sub-Saharan Africa was blessed with large hydro power resources that could create electricity, only 10 per cent of its potential had been harnessed. "Boosting access to affordable, reliable, and sustainable energy is a primary objective of the Bank's work in
During the year projects focused on developing hydro power potential and providing new forms of sustainable power to increase energy production", reads part of the
The bank also supports country-led efforts to improve agricultural productivity by linking farmers to markets and reducing risk and vulnerability, increase rural employment and make agriculture more environmentally sustainable.
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