East Africa to receive $1.2bn World Bank infrastructure boost | Public Finance International
The East African Community is to receive $1.2bn from the World Bank to support infrastructure investment and improve competitiveness. The funds, which are being channelled through the World Bank’s International Finance Corporation and Multilateral Investment Guarantee Agency, will support projects through market-driven private financing and guarantees. It will contribute to investments the five nations of the EAC have planned over the next three to seven years, particularly projects to improve transport links and ports.
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