World Bank Pursues Electricity for 100 Million Africans by 2030 [BNN Bloomberg (Canada)]
Mastercard Incorporated (MA)
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Source: BNN Bloomberg
Banga highlighted that ambition Wednesday as an example of how he plans to wield funds from the bank's International Development Association, which provides zero- or low-interest loans to low-income countries, and why it's important for donor countries to provide support. In remarks prepared for delivery in Zanzibar, Tanzania, he pointed out that some 1.1 billion young people in the Global South will reach working age over the next decade. “But how can we hope to make even adequate progress while 600 million people in Africa – 36 million of whom live here in Tanzania – still don't have access to reliable electricity?” Banga said. “Put simply: We can't.” Read More: New World Bank Chief Hails COP Momentum as Climate Pledges Mount Nominated by President Joe Biden and about six months into the job, Banga spoke as the bank reviews its latest replenishment round for the IDA, which totaled $93 billion. He said he wants donors to make the next round, in December 2024, to be another r
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