Bank Group commitments were granted to 50 countries and multinational institutions to finance projects and programs which support the foundations of long-term development and reinforce sustainable economic growth and poverty reduction.

Bank operations are also directed to the development of infrastructure with the aim of promoting economic growth by providing a favourable environment for productive activities ; integrating national markets in order to spread the benefits of economic growth ; and, commercializing and diversifying the economies of the region.

Through its policy-based operations, the Bank Group has encouraged countries in Africa to adopt enabling macro-economic policies that create favourable environments for production activities and private sector operations. This includes institutional reforms, the strengthening of fiscal discipline, measures to liberalize economies, and reduction of excessive public sector involvement in economic activities. The operations also include direct poverty-reducing programs aimed at protecting vulnerable groups of society from the adverse impacts of macro-economic adjustment

Also, to help diversify the pattern of production and export baskets on the continent, the Bank extends industrial sector loans and lines of credit to commercial and housing banks. In the social sector, Bank operations give priority to primary health and maternal child-health care, basic education, and technical training for delivery of vocational skills for self-employment.

The Bank Group recognizes that Africa's development challenges demand a multi-faceted and flexible approach in a changing domestic and global policy environment. Thus, in response to the reorientation of many African countries towards private enterprise, the Bank introduced a new Private Sector Development (PSD) strategy in 1996.

The objectives of the PSD program are to enhance the role of the local private sector in the development process, attract foreign direct investments, catalyze resources for sound and sustainable projects, help create a conducive environment for private business, and generate domestic and international business confidence in the region

Within this strategy, the Bank offers a menu similar to that of other multilateral financial institutions. Among many other aspects, it focuses on the creation of enabling macro-economic and institutional environments for private sector development, and on financing industrial activities, projects related to tourism, and infrastructure. The menu also includes micro-finance and more focused and enhanced assistance to small and medium-scale enterprises.

With regard to regional integration, which is important for enhancing trade and investment, the Bank Group aims to increase its efforts to identify and finance multinational and national projects having integration effects. With this in view, the Bank will strengthen technical assistance operations to support pre-investment studies for integration projects.

Progress in poverty reduction will come through sustained and broad-based economic growth, complemented by an efficient provision of infrastructure and social services, such as education and health care. Notwithstanding the risks of negative spillovers and volatile capital flows arising from the globalization of trade and financial markets, the road to poverty-reducing growth in Africa still lies in closer integration into the world economy. Africa must embrace further integration and avoid the temptation of reverting to the inefficient systems of excessive trade restrictions and exchange controls. The inability to effectively integrate carries with it the risk of missing the opportunities of expanded trade and investment, which are central to economic growth and poverty reduction.