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The World Bank on Tuesday pledged between US $300 million and US $500 million towards the eradication of malaria, according to a statement from the institution.
"We hope that the Roll Back Malaria partnership and the African leadership will be instrumental in specifically creating a demand for World Bank operations in this direction," World Bank Vice President for Human Development Eduardo Doryan said.
"The resources can be deployed to increase the fight against malaria," he told the 'African Summit on Roll Back Malaria', held on 25 April in Abuja, Nigeria.
Malaria "traps the people of Africa in poverty," Nigerian President Olusegun Obasanjo told the summit. "It stops adults from earning a living and children from going to school. Each year families spend the equivalent of several months earnings on malaria treatment and prevention."
He further noted that the disease claims 3,000 lives each day, and is responsible for one in every four child deaths in Africa. "It does not have to be like this," he said. "Malaria is preventable, treatable and curable."
The summit, hosted by Nigeria, was convened by African leaders and officials of the WHO, UNICEF, World Bank and UNDP.
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