DURBAN, South Africa (Reuters) -Germany will provide an initial contribution of 10 million euros ($11.59 million) to the World Bank trust fund this year with the support of the Compact with Africa, German Finance Minister Lars Klingbeil said on Thursday. “We are convinced that this is a worthwhile investment and we will be very pleased […]
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Germany to contribute 10 million eur to World Bank trust fund, Finance Minister says
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DURBAN, South Africa (Reuters) -Germany will provide an initial contribution of 10 million euros ($11.59 million) to the World Bank trust fund this year with the support of the Compact with Africa, German Finance Minister Lars Klingbeil said on Thursday.
“We are convinced that this is a worthwhile investment and we will be very pleased to see other G20 members join us,” he said in Durban, South Africa.
The Durban gathering of finance chiefs on Thursday and Friday unfolds against the backdrop of mounting economic pressures, particularly for African economies.
($1 = 0.8631 euros)
(Reporting by Maria Martinez, Editing by Friederike Heine)