World Bank President: President Ghazouani Played an Important Role in Replenishing the Institution’s Resources

World Bank Group President Ajay Banga stated that the partnership and support of President Mohamed Ould Cheikh El Ghazouani, in his capacity as the President of the African Union, were of utmost importance throughout the process of the 21st replenishment of the institution’s financial resources, primarily aimed at supporting development in African countries.

According to a post shared by the Presidency of the Republic on Facebook, Banga noted that significant successes were achieved during this period, as the institution successfully secured a total financing package of $100 billion, which he described as a major achievement in the history of the International Development Association.

In a letter to President Ghazouani, the World Bank Group President explained that this support would enable continued investment in critical areas such as health, education, infrastructure, climate resilience, job creation, and economic stability.

Ajay Banga also expressed his gratitude to President Ghazouani for his leadership and trust in this process, highlighting the significant efforts made to advocate for it, gather international support, and actively participate in specialized international forums to achieve the desired goal.