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A Guide to the World Bank
Funding to the region has risen substantially in recent years: in fiscal 2010 combined IDA and IBRD funding reached $11.4 billion (figures 3.4 and 3.5). Most African countries remain off track for meeting the Millennium Development Goals, their advances further slowed by global crises. Since the mid-1990s, however, Africa has made enormous progress in improving social development indicators. Poverty has declined at a rate of about 1 percentage point a year, and some evidence indicates that child mortality is beginning to fall sharply in some countries. However, though progress has been made in a number of areas, including poverty, achieving other targets remains a major challenge in Africa. For more information, visit the region’s website at http://www.worldbank.org/africa/.
IFC in Africa IFC is the largest multilateral source of loan and equity financing for private sector projects in Africa. The corporation’s investments in the region continue to grow and cover a wide range of sectors, including microfinance and other financial sector projects, renewable energy, agriculture, infrastructure,
Figure 3.4 Africa: IBRD and IDA Lending by Theme, Fiscal Year 2010 Share of total lending of $11.44 billion 8%
Urban Development Trade & Integration Social Protection & Risk Management Social Development, Gender & Inclusion
6%
Economic Management Environment & Natural Resources Management
5%
7% 1%
Rural Development
14%
Rule of Law
< 1%
Public Sector Governance
2%
44%
6%
Source: World Bank Annual Report 2010.
8%
Financial & Private Sector Development
Human Development