Published by Global Banking & Finance Review®
Posted on July 17, 2025
1 min readLast updated: January 22, 2026
Germany pledges €10M to the World Bank trust fund to support African economies, as announced by Finance Minister Lars Klingbeil during the G20 meeting in Durban.
DURBAN, South Africa (Reuters) -Germany will provide an initial contribution of 10 million euros ($11.59 million) to the World Bank trust fund this year with the support of the Compact with Africa, German Finance Minister Lars Klingbeil said on Thursday.
"We are convinced that this is a worthwhile investment and we will be very pleased to see other G20 members join us," he said in Durban, South Africa.
The Durban gathering of finance chiefs on Thursday and Friday unfolds against the backdrop of mounting economic pressures, particularly for African economies.
($1 = 0.8631 euros)
(Reporting by Maria Martinez, Editing by Friederike Heine)
Germany will provide an initial contribution of 10 million euros, which is approximately $11.59 million.
The contribution is part of the Compact with Africa initiative and is seen as a worthwhile investment to support economic development.
The announcement was made in Durban, South Africa, during a gathering of finance chiefs.
The gathering unfolds against the backdrop of mounting economic pressures, particularly for African economies.
Germany's Finance Minister expressed hope that other G20 members would join in this investment.
Explore more articles in the Headlines category
