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.
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