Tag Archives: World Bank

Ajay Banga will partner with African Development Bank for transformative results Kampala, Uganda | THE INDEPENDENT | World Bank president nominee, Ajay Banga, pledges to partner with African Development Bank for transformative results U.S. nominee for World Bank Group President, Ajay Banga began his global tour on March 06 with his …

Kampala, Uganda | THE INDEPENDENT | The Newly appointed World Bank President Ajaypal (Ajay) Singh Banga has unveiled plans to visit Africa among other regions soon to acquaint himself with the issues surrounding borrowers and partners. Banga is poised to become the next World Bank President later this year, amidst mixed …

Kampala, Uganda | THE INDEPENDENT | The Committee on National Economy has expressed displeasure with Kampala Capital City Authority (KCCA)’s utilization of the US$175 World Bank loan saying the quality of works does not correlate with the value of money. MPs on the committee said that despite the funding, the works especially …

Lusaka, Zambia | Xinhua | The Zambian government on Monday refuted a Western media report that it does not support China’s call for the World Bank and other multilateral lenders to join Zambia’s debt restructuring process. Zambian Minister of Finance and National Planning Situmbeko Musokotwane said that contrary to the Financial …

Nairobi, Kenya | Xinhua | The World Bank on Tuesday forecasted the sub-Saharan Africa (SSA) economy to slow to 3.6 percent in 2023 and rise to 3.9 percent in 2024. According to the World Bank’s latest Global Economic Prospects report, the growth was revised down for almost 60 percent of countries, …

Dar es salaam, Tanzania | Xinhua | The World Bank has earmarked about 15 million U.S. dollars to accelerate regional digital integration efforts across the East African Community (EAC), the EAC said in a statement on Saturday. The statement, issued by the EAC headquarters in Tanzania’s northern city of Arusha, said the …

Mogadishu, Somalia | Xinhua | The World Bank said it has approved a 70 million U.S. dollar International Development Association (IDA) grant to develop resilient water, agriculture, and environmental services for rural communities in Somalia’s drylands. The Somalia Water for Rural Resilience Project, known as “Barwaaqo” and builds on the Biyoole project, …

COMMENT | Victoria Kwakwa  | Every year at the end of November, activists speak out to remind the world of the scourge of gender-based violence and the World Bank lends its voice to the 16 Days campaign to prevent and eliminate violence against women and girls. The issue for me coalesces around fundamental …

Nairobi, Kenya | THE INDEPENDENT | The International Monetary Fund, the World Bank and national lenders like the US, China and Japan are yet to agree on the modalities of debt relief for poor countries, as eligible ones remain reluctant to apply. A few countries have been processing their requests …

Kampala, Uganda | THE INDEPENDENT | Experts have faulted the government for using statistics that do not give the real picture of the state of affairs to define the performance of the economy. An example is the Debt-to-GDP ratio that the government uses to determine the safety and strength of the …