Read: Global lenders' meeting to proceed in Morocco amid quakeThe IMF and World Bank last held their meetings in Africa in 1973, when Kenya hosted the event, and some nations were still under colonial rule. The World Bank is expected to confirm plans to boost lending by $50 billion over the next decade through balance sheet changes. World Bank President Ajay Banga wants to go even further and raise capacity by $100 billion or as much as $125 billion through contributions from advanced economies. In a symbolic move, the IMF and World Bank are poised to give Africa a third seat on their executive boards. Outside the venue, a dozen activists protested, holding a banner that read "World Bank end fossil finance" and signs including one that said "dignity not debt".

Source: Daily Nation October 10, 2023 08:41 UTC