Africa Secures USD30 Billion IFC Backing

The World Bank's private sector unit, the International Finance Corp., will provide USD30 billion for Africa over a three-year period, according to

. The IFC investments will back four initiatives in the areas of bank recapitalization, infrastructure, trade and advisory services, World Bank President Robert Zoellick said. "Today, confronting Africa's challenges and ensuring that African voices are heard take on an even greater importance, as we face a global crisis. Africa will not escape it," he added.

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