Africa Defense Forum
ADF is a professional military magazine published quarterly by U.S. Africa Command to provide an international forum for African security professionals. ADF covers topics such as counter terrorism strategies, security and defense operations, transnational crime, and all other issues affecting peace, stability, and good governance on the African continent.

World Bank to Invest $2 Billion in Africa


The World Bank has announced that it will invest $2 billion to support medium and small businesses in Africa and boost trade as the region recovers from the COVID-19 downturn.

The International Finance Corporation (IFC), the bank’s development arm focused on private-sector development in emerging markets, will invest $1 billion in direct financing for businesses and another $1 billion in support of international trade finance.

The combined $2 billion package is “among the IFC’s largest ever commitments to specific initiatives in Africa,” the corporation said, adding that COVID-19 “plunged the region into recession, reduced foreign direct investment flows and pushed millions more Africans into poverty.”

“Long-term recovery will depend on getting funding to the pillars of the economy that need it today,” IFC Managing Director Makhtar Diop said in a statement.

The economic cost of COVID-19 to African countries has been devastating, with the International Monetary Fund warning in late 2020 that the continent faced a shortfall of $290 billion in expected revenue up to 2023, undermining development efforts.

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