World Bank increases Africa development fund

Special Report:Global Financial Crisis

LAGOS, April 23 (Xinhua) -- The World Bank response to the global economic
recession in Africa through infrastructure development has been jacked up from
600 million U.S dollars to 3.6 billion U.S dollars, according to the reports of
the News Agency of Nigeria.

The World Bank said similar increase was effected on its investment on
agriculture in the region from 430 million U.S dollars to 1.05 billion U.S
dollars.

Oby Ezekwesili, the Vice President, African Region, made this known on
Wednesday in a tele-conference in Washington DC monitored in Abuja.

The World Bank has set aside more than six billion U.S dollars as
International Development Association (IDA) facility for Africa.

Ezekwesili said the infrastructure fund was to upgrade most structures in
Africa to the standards comparable with those in Europe and America.

She explained that in the midst of the hash world financial system only the
best environment could attract investment, saying only negligible nations in
Africa can now boast of standard infrastructures.

"We will use the fund to collaborate with countries in the region to chart
ways for electricity generation and distribution," she added.

"The World Bank is also interested in providing expert advice on road and
railways construction and other things that can drive the economy," Ezekwesili
said.