The Philippines on Monday said it had signed four loan agreements with the World Bank totalling $1.14 billion, including $750 million of budgetary support for policy reforms to boost environmental protection and climate resilience.
Nigeria's BUA Cement has received $500 million in financing from the International Finance Corporation (IFC) and other lenders to boost production, the organisations said on Tuesday.
The World Bank said on Tuesday it approved a $1 billion loan to Kenya to support its budget as East Africa's economic powerhouse confronts high debts and a weakening currency.
The outlook for Africa's debt sustainability remains "cloudy" as low growth and high inflation challenge the stability of many economies across the continent, the World Bank's Africa chief economist said on Monday.
Six Pacific countries are at a high risk of debt distress in part due to government spending to respond to the COVID-19 crisis, the World Bank said in a report on Thursday.