World Bank to invest in digital economy, infrastructure to mitigate impact of COVID-19

The World Bank has announced its readiness to invest in the digital economy and infrastructure to mitigate the impact of the COVID-19.

The World Bank, in its report titled #AFRICAN CAN, noted that the investment will foster a sustained economic recovery in Sub-Saharan Africa.

The organisation stressed that the road to economic recovery will require policies and investments that focus on job opportunities.

The World Bank added that it also will help in the alleviation of extreme poverty, particularly post-COVID-19.

The World Bank report read: “The road to recovery will be long and arduous and will require policies and investments that focus on connecting people to job opportunities, which can help end extreme poverty, particularly post-COVID-19.

“Sub-Saharan Africa is home to more than 1 billion people, half of whom will be under 25 years old by 2050.

“It is a diverse continent offering human and natural resources that have the potential to yield inclusive growth and wipe out poverty in the region, enabling Africans across the continent to live healthier and more prosperous lives.

“With the world’s largest free trade area and a 1.2 billion-person market, the continent is creating an entirely new development path, harnessing the potential of its resources and people.

“Knowledge is essential for governments to make better policies and institutions to make more effective decisions, thus, governments should pay attention to research and analysis.”