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World Bank to invest US$5B in 11 African countries

The World Bank on Monday said it would invest over US$5B 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.

Also read: World Bank: Sub-Saharan Africa’s GDP to grow 2.7% in 2021

Source: Reuters

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