Source: Reuters

By Lesley Wroughton

WASHINGTON, June 12 (Reuters) - The World Bank's private-sector lender approved on Tuesday a $50 million program that will provide risk guarantees to local banks in Africa to encourage funding for private schools, officials said.

The bank's International Finance Corp. (IFC) said loans for schools were expected to range from $1,000 to $500,000. The program will initially cover Cameroon, Ghana, South Africa, Nigeria, Mozambique, Tanzania, Zambia, Kenya, Senegal, Madagascar and Uganda.

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Posted by pichu at June 12, 2007 8:22 PM