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World Bank to invest $5 bln in 11 African countries

(Reuters, 11 Jan 2021) The cash will go to restoring damaged environments and improving livelihoods as countries recover from the COVID-19 pandemic.

The World Bank on Monday said it would invest over $5 billion over the next five years to help restore degraded landscapes, improve agriculture productivity, and promote livelihoods in 11 African countries as they recover from the COVID-19 pandemic.

World Bank Group President David Malpass said the investment would help improve livelihoods as those countries recovered from the outbreak and dealt with the impact of biodiversity loss and climate change through 2025.

Malpass announced the aid at the One Planet Summit, a high-level meeting co-hosted with France and the United Nations that is focused on addressing climate change and biodiversity loss.

The money will fund interventions in agriculture, water, community development, food security, resilient infrastructure, landscape restoration, and renewable energy, Malpass said.

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Reuters, 11 Jan 2021: World Bank to invest $5 bln in 11 African countries