Tag Archives: World Bank

Kampala, Uganda | XINHUA | The World Bank has categorized Tanzania as a lower-middle income country after the country made economic reforms, including making consistent plans and taking hard decisions aimed at improving its economic development, a senior official said on Thursday. “Discipline in financial expenditure and the prevailing peace …

Washington, United States | AFP | Global economic growth could rebound next year but the number of people living in extreme poverty is expected to remain unchanged, the World Bank warned Tuesday. The projection came after the Washington-based development lender said Monday the coronavirus pandemic could drive between 70 and 100 million people into extreme …

Washington, United States | AFP | The global economy is facing “staggeringly large” losses and the recovery effort is hampered by a shortage of resources to make up for the damage caused by the coronavirus pandemic, World Bank President David Malpass said Tuesday. While the Washington-based development lender has rushed out …

  Djibouti IDA Credit: $6 million equivalent Maturity: 40 years    Grace: 10 years Ethiopia  IDA Credit: $31.5 million equivalent Maturity: 38 years    Grace: 6 years Kenya IDA Credit: $43 million equivalent Maturity: 30 years    Grace: 5 years Uganda IDA Credit: $48 million equivalent Maturity: 38 years    Grace: 6 years Kampala, Uganda | THE INDEPENDENT | The World Bank Group on Thursday announced that it has …

Kampala, Uganda | THE INDEPENDENT | Government has revised its proposal to borrow money to mitigate the effects of coronavirus by up to 1.3 trillion shillings. On April 2, the government presented a motion to borrow up to 1.7 trillion shillings to cushion the economy from the effects of COVID-19. …

Kampala, Uganda | THE INDEPENDENT | Uganda Development Bank -UDB will be placed under the watch of Bank of Uganda with the aim of strengthening it. UDB is 100 percent owned by the government and has been self-regulating, audited by the Auditor General and reporting to parliament to answer queries …

Entebbe, Uganda | THE INDEPENDENT | The World Bank has approved USD 148.2m (Shs 563bn) financing for Uganda to use to manage and restore its forests cover. The money according to the lender is also expected to have spillover benefits to forest dependent communities like refugees and their host communities. …

Washington, United States | AFP | The coronavirus outbreak and government policies to limit the disease could disrupt food supply chains, potentially threatening food availability, even as prices remain stable in 2020, the World Bank cautioned Thursday. Prices of agricultural commodities are likely to hold up better than oil, metals and …

Washington, United States | AFP | Developing countries are losing a key source of revenue as the coronavirus pandemic causes worldwide shutdowns, sharply reducing payments from workers living abroad, the World Bank said Wednesday. Remittances are expected to plunge by about 20 percent globally this year, the biggest decline in recent …

Washington, United States | AFP |  International financial institutions and African leaders warned on Friday the continent needs tens of billions of dollars in additional money to fight the coronavirus pandemic despite debt freezes and massive pledges of support. In a joint statement, the World Bank and International Monetary Fund said …