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Tuesday 15 June 2021
HomeAfricaWorld Bank offers 121bn FCFA to boost Malian economy

World Bank offers 121bn FCFA to boost Malian economy

The World Bank and the government of Mali on Tuesday signed six funding agreements, to the tune of 121 billion FCFA, that are meant to improve water supply to Bamako, boost the economy, improve rural electricity supply and manage natural resources, a PANA correspondent learnt here.

The agreements, signed by the Malian Minister of Economy and Finance, Mrs. Bouaré Fily Sissoko, and the director of operations of the World Bank for Mali, Ousmane Diagana, are made up of four grants and two credit facilities granted by the International Association for Development (IAD) as well as those from other agencies of the World Bank.

The first grant of 50 billion FCFA will be used to fund a priority investment programme for the rehabilitation of public infrastructure at national and local levels in areas affected by the crisis that hit Mali in 2012.

It will also contribute towards reaching the objectives of the Sustainable Economic Booster Plan (PRED) for the period 2013/2014.

The second grant, worth 10.7 billion FCFA, is meant for the management of natural resources and climate change.

It will also promote the adoption of sustainable management practices of soil and water resources in areas vulnerable to climate change.

The water project in Bamako from Kabala will benefit from a total funding of 40 billion FCFA and the rural electrification projects will get a credit of 12.5 billionn FCFA and two grants of 9.9 billionn FCFA from World Bank agencies.

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