PARIS, December 14, 2017 – During the December 13-14 meeting of the Consultative Group for Niger in Paris, the World Bank Group announced a record pledge of $2.5 billion for Niger.
These funds will help Niger implement its Economic and Social Development Plan (PDES 2017-2021), whose main objectives are to strengthen human capital, transform rural areas, improve governance, and promote peace, security, and sustainable environmental management, with a view to reducing extreme poverty and fostering inclusive growth.
“Niger has all the advantages it needs to stimulate its economy and improve the living conditions of its people, especially women and youth who are the country’s greatest assets,” said Soukeyna Kane, World Bank Country Director for Niger, Mali, Chad, and Guinea. The figure announced by the World Bank Group represents double the commitment amount under its current partnership with Niger.
The new World Bank partnership framework with Niger, which is still being developed, seeks to provide a better education and more career opportunities for women and girls. In addition, it will raise resources for the poorest and most vulnerable regions to prevent them from tipping into fragility.
Oumar Seydi, the International Finance Corporation (IFC) Director for Sub-Saharan Africa, said that successfully implementing “the ambitious development strategy of the PDES requires the structural transformation and increased diversification of Niger’s economy, aided by a dynamic and growing private sector.” IFC is committed to supporting Niger in creating the conditions for growing its private sector, especially through the use of its new IDA18 private sector window.
The Consultative Group sought to raise the necessary resources to finance the key PDES projects from 2017 – 2021. At the end of the conference, Niger had secured $12.6 billion for the public sector and $10.1 billion for the private sector.