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TimesLiveTimesLive17/07/2025
NEUTRAL

WATCH | Germany pledges €10m to World Bank trust fund at G20 summit’s ‘Compact with Africa’ meeting

WATCH | Germany pledges €10m to World Bank trust fund at G20 summit’s ‘Compact with Africa’ meeting

Executive Summary

Germany's Finance Minister Lars Klingbeil announced in Durban that the country will provide an initial €10 million contribution to a World Bank trust fund this year, supported by the Compact with Africa initiative. Speaking at a gathering of finance chiefs on Thursday amid mounting economic pressures on African economies, he expressed hope that other G20 members would join the effort. This move highlights Germany's commitment to African development and could spur broader international investment in the region.