WB allocates $82 bln for investment projects in Africa

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Sat, 13 Apr 2019 - 01:39 GMT

File - World Bank

File - World Bank

CAIRO, April 13 (MENA) - The World Bank (WB) announced it allocated $25 billion to invest in the initiative of digital transformation in Africa in the coming ten years and other $57 billion to invest in infrastructure projects in the next three years.

The move came on Saturday during a session on Africa's digital economy on the fringe of the Spring Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund (IMF), held in Washington, D.C.

Egypt is the first country in the Middle East and Africa which has a strategy for digital transformation and e-trade, Investment Minister Sahar Nasr said.

The country is working on luring foreign investments in the fields of information technology and start-ups, Nasr noted.

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