World Bank hails country compacts as transformative

The World Bank’s Anna Bjerde has embarked on a multicountry tour spanning Nigeria, Angola, Ethiopia, and Saudi Arabia as several of the bank’s flagship initiatives in Africa move from planning to execution. Bjerde is the bank’s managing director of operations, and this trip follows a previous tour of four other African countries, highlighting the continent’s central role in her portfolio.

Lobito Corridor Connectivity

Bjerde discussed the potential of the inaugural platform meeting on the Lobito Corridor, a rail and road network linking mineral-rich regions of Zambia and the Democratic Republic of Congo to Angola’s Atlantic coast. She emphasized the corridor’s potential to create jobs, improve exports and imports, and drive economic transformation in secondary and tertiary cities. The meeting, taking place in Angola, will bring together ministers of transport, trade, and finance from Angola, DRC, and Zambia, along with development partners. Key priorities include identifying crucial investments for the corridor itself, facilitating trade and border crossings, agreeing on diagnostics for investment decisions, and providing capacity building and technical assistance to the newly created agency among the three countries. Regular meetings, potentially on a quarterly basis, are expected.

Mission 300 Electrification Plan

The World Bank’s Mission 300 plan aims to connect 300 million people in Africa to electricity by 2030. Currently, nearly 39 million people have been connected. This progress is attributed to increased implementation and new projects, supported by the International Development Association (IDA) and partners, including Italy under the Mattei Plan. The World Bank is utilizing a new model of country-owned compacts, which is also being applied to AgriConnect and water initiatives.

Country-Owned Compacts as a Model

The compact model emerged from a recognition that supporting countries in developing their own plans to address access gaps is most effective. With nearly 40 compacts planned for AgriConnect and the water strategy also employing this approach, the model is being extended to other initiatives, including a healthcare coverage initiative aiming to provide 1.5 billion people with improved healthcare by 2030.

Water Initiatives and the African Union Summit

The African Union has declared 2026 the Year of Water. The World Bank has developed a new water strategy and implementation plan and will introduce its approach at the AU Summit. The plan aims to launch a program for eastern and southern Africa, with potential expansion to West and Central Africa, seeking support from heads of state and ministers of water. The strategy will also utilize compacts and involve collaboration with the African Development Bank, bilateral donors, and Gulf institutions.

Debt Sustainability and Infrastructure Investment

Bjerde addressed the balance between large-scale investment and debt sustainability concerns across the continent. She emphasized the importance of economic growth, efficient expenditures, and careful consideration of project risks and contingent liabilities. The World Bank ensures net positive flows to African countries and provides grants to countries facing debt distress, allowing them to restructure their debt and continue receiving support.