The World Bank has said it approved $11.5bn in lending to Western and Central African countries for 98 operations.
The bank approved $11.5bn in lending to Western and Central Africa for 98 operations, including $500m in IBRD commitments and $11.0bn in IDA commitments. Revenue from Reimbursable Advisory Services agreements with one country was $700,000.
The bank said in its fiscal 2021, it committed $1.5bn through 12 development policy operations to support countries’ pandemic responses and recovery efforts.
The Bank said it was providing governments with immediate fiscal relief while continuing to promote transparency and accountability and helping strengthen public procurement and revenue management.
According to the global bank, it is providing $1.8bn under IDA to scale up social safety nets across Western and Central Africa in a bid to strengthen social protection measures, recipient registries, cash transfer programs, and delivery mechanisms to benefit about 40 million people, of which 20 million are Nigerians.
