But in terms of “the total number of projects, however, it is still below pre-pandemic levels,” World Bank says. Although the trends point to an overall recovery, the Washington-based lender claims that investments were unevenly distributed and concentrated in certain areas. The World Bank points out that in the time under consideration, 30 projects totaling $4.7 billion in investment pledges were made to the world’s 18 poorest countries, 18 of which are members of the International Development Associations (IDA). “This represents more than a 26% increase in investment levels compared to 2021, but also a 22% lower investment level than the past five-year average of $6.1 billion,” a statement by the Washington-based bank reads. The World Bank’s international financial organization IDA provides grants and concessional loans to the world’s poorest developing nations.

Source: The North Africa Journal May 03, 2023 10:39 UTC