World Bank Unveils Record $100 Billion Support for World’s Poorest Countries

December 6, 2024

1 minute read

World Bank

The World Bank has announced an unprecedented $100 billion support package aimed at addressing the pressing needs of the world’s poorest countries. This initiative, disclosed on Thursday, is part of the bank’s commitment to reducing poverty and fostering sustainable development in underprivileged regions.

The funding, which represents the largest single package in the institution’s history, will be disbursed through grants, low-interest loans, and capacity-building programs over the next three years. Targeted areas of focus include education, healthcare, climate resilience, and infrastructure development to help beneficiary nations achieve long-term economic stability.

World Bank President Ajay Banga emphasized the importance of this initiative, stating that it is a direct response to the compounded challenges of global economic uncertainties, climate change, and post-pandemic recovery. “This funding is a lifeline for nations struggling to meet the basic needs of their populations,” Banga remarked.

The initiative has garnered widespread support from development agencies and governments worldwide, with many highlighting its potential to accelerate progress toward global poverty alleviation goals.

Share:
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Related Links

Olakunle Nafiu

NYSC Highlights Employer Rejection Concerns

The National Youth Service Corps (NYSC) has raised alarm over the growing trend of employers ...

heat

Morocco Heat Wave Drives Surge in Air Conditioning Demand

Morocco is grappling with a severe heatwave this summer, with temperatures soaring well above average ...

Trump

U.S. Hosts Five West and Central African Leaders in Strategic Summit

The United States is hosting a landmark two-day summit at the White House, beginning Wednesday, ...

West Africa

West African Cocoa Output Set to Drop 10% in 2025/26 Season

West African cocoa production is projected to decline by 10% in the 2025/26 season, extending ...

Features

heat

Morocco Heat Wave Drives Surge in Air Conditioning Demand

Morocco is grappling with a severe heatwave this summer, with temperatures soaring well above average ...

UK

UK and US Clamp Down on Nigerian Visas:What Does It Really Mean?

The United Kingdom and United States have recently tightened visa policies for Nigerian citizens, sparking ...

Netherlands Returns 119 Looted Benin Bronzes to Nigeria

On Thursday, June 26, 2025, the Netherlands returned 119 looted artifacts, known as the Benin ...

Ngugi-wa-Thiongo

Ngũgĩ wa Thiong’o:Passed the pen to the Next Generation.

Ngũgĩ wa Thiong’o, a legendary Kenyan writer, scholar, and revolutionary voice in African literature passed ...

ECOWAS

ECOWAS Celebrates 50th Anniversary Amid Sahel States Tensions

On May 28, 1975, fifteen West African nations signed the Lagos Treaty, establishing the Economic ...

What Really Moves Bitcoin’s Price? A Comprehensive Guide to the Key Drivers of Volatility and Value

What Really Moves Bitcoin’s Price? A Comprehensive Guide to the Key Drivers of Volatility and Value

​Bitcoin, the pioneering cryptocurrency, has captivated the financial world with its innovative technology and notable ...

Guinea Sets September 2025 Date for Constitutional Referendum as Military Inches Toward Democratic Transition

Guinea Sets September 2025 Date for Constitutional Referendum as Military Inches Toward Democratic Transition

Guinea’s military-led government has officially announced that a national referendum on a new constitution will ...

Ivory Coast economic growth

Côte d’Ivoire’s Economic Boom Faces Political Test in 2025 Election

Ivory Coast’s Economic Success: A Model for West Africa Côte d’Ivoire has emerged as one ...

Latest News

Today in History

July 10th is the day in 1789 that Alexander Mackenzie reaches the Mackenzie River delta.

Exchange Rate Per Dollar

AM Armenian Dram382.6962
GH Ghana Cedi10.4
GM Gambian Dalasi71.5
GN Guinea Franc8,668.68
NG Nigerian Naira₦1,528
CF CFA Franc BEAC558.9757
10 Jul · CurrencyRate · USD
CurrencyRate.Today
Check: 10 Jul 2025 05:05 UTC
Latest change: 10 Jul 2025 05:00 UTC
API: CurrencyRate
Disclaimers. This plugin or website cannot guarantee the accuracy of the exchange rates displayed. You should confirm current rates before making any transactions that could be affected by changes in the exchange rates.
You can install this WP plugin on your website from the WordPress official website: Exchange Rates🚀

YOUR THOUGHTS

Let us know what you think

Contact the People’s Paper with feedback on stories and how we could make wapress.africa even better!

newsletter image

Stay up to date with the latest from West Africa Press

Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on WApress.

Subscribe Newsletter!

Be the first to receive our latest contents and more...

Need help?