/ 10 December 1999

WORLD BANK PLEDGES AID

DONOR countries meeting here on Thursday pledged $3,7-billion in quick-disbursing financial assistance to Africa over the next three years to help boost growth and reduce poverty. Representatives from some 20 countries and international organisations pledged the aid under the Strategic Partnership with Africa (SPA), hitherto known as the Special Program of Assistance. The budget support package, available to countries undertaking economic reforms agreed with the International Monetary Fund and World Bank, covers the years 2000-2002 and will help more than 30 African countries over the coming three years. It was pledged at the end of a three-day meeting organised by the World Bank in Paris.