World Bank assures African countries of cheaper, long-term loans

NAIROBI, April 29 (Xinhua) -- The World Bank on Monday said it would provide concessional loans to African nations and work with governments to enable the continent's sustainable development.

Ajay Banga, president of the World Bank Group, said the institution's International Development Association (IDA) would provide Africa with funding for climate change mitigation, green development, and poverty reduction initiatives.