World Bank chief expects rich nations to meet African donation requests

World Bank Group President Ajay Banga addresses delegates during the IDA for Afr ica Heads of State Summit at the Kenyatta International Conference Centre in Nairobi, Kenya April 29, 2024. REUTERS/Monicah Mwangi/File Photo

That would be a record for IDA, which offers long-term loans to developing nations and operates on a three-year cycle. The last round of fund-raising in 2021 raised $93 billion. "There is no doubt that all the donor countries have their own challenges and their own fiscal responsibilities. But I think they all value the effect of contributing to IDA," Banga said in an interview on Monday.

Source: Loan Digest (loandigest.net)

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