By 2030, the World Bank will supply power to 100 million Africans

By the end of the decade, the World Bank intends to give energy to 100 million people in Africa with a $5 billion allocation. In many African countries, access to electricity is still a major problem that hinders their development. The revelation was made by World Bank President Ajay Banga in a speech at the midterm assessment of the $93 billion replenishment package for the International Development Association (IDA). According to Bloomberg, Banga used that goal as an illustration of how he intends to use money from the bank's International Development Association, which lends money to low-income nations at zero or low interest rates, and the reason why donor nations must give aid. In his remarks, he noted that some 1.1 billion young people in the Global South are expected to reach working age over the next decade.