Visibly angry UBOS boss Mukiza explains Uganda’s position Kampala, Uganda | THE INDEPENDENT | The Uganda Bureau of Statistics-UBOS and the World Bank have disagreed on the methodology used in determining the country’s economic status. They will however release a joint statement in the next 24 hours on Uganda’s status. …
Read More »Uganda far from middle income: World Bank
Kampala, Uganda | THE INDEPENDENT | The World Bank has put the per capita income of Uganda at 850 dollars for the financial year end 2022, with the economy growing at an estimated 3.7 percent. According to the Bank, this average income by a Ugandan is far below the lower-middle-income threshold …
Read More »World Bank to double educational funding for Central, West Africa
Accra, Ghana | Xinhua | The World Bank Group seeks to double its funding for education in the Western and Central African region by 2025 to accelerate the work of educational reforms, a senior official of the bank said on Monday. Ousmane Diagana, the World Bank Vice President for Western and …
Read More »Stagflation creeps in on Uganda and neighbors – World Bank
Kampala, Uganda | THE INDEPENDENT | Uganda and some of its neighbours will have a hard time as a new World Bank report warns of a possibility of high global inflation accompanied by tepid growth, reminiscent of the stagflation of the 1970s. The Global Economic Prospects Report predicts that Uganda …
Read More »World Bank provides 385 mln USD to Horn of Africa to boost climate resilience
Nairobi, Kenya | Xinhua | The World Bank said it has provided 385 million U.S. dollars in International Development Association (IDA) financing to Horn of Africa countries to tap groundwater potential and boost climate resilience. The World Bank said in a statement issued on Wednesday evening that the Horn of Africa …
Read More »World Bank downgrades 2022 global growth forecast to 2.9 pct, warns of stagflation risk
Changes in fiscal, monetary, climate and debt policy are needed to counter capital misallocation and inequality Washington, U.S. | Xinhua | The global economy is on track to grow by 2.9 percent in 2022, down 1.2 percentage points from the January projection, the World Bank Group said in its latest Global …
Read More »World Bank team reviewing USMID Additional Financing
USMID Additional Financing-USMID-AF launched in 2018/19 for a five-year period maintains the development objective of enhancing institutional capacity of selected local governments Kampala, Uganda | THE INDEPENDENT | Uganda’s new cities need to ensure that their physical development plans are designed and approved to attract new funding, according to executives at …
Read More »World Bank Group points to recovery areas for Uganda’s economy
Kampala, Uganda | THE INDEPENDENT | The government should create sufficient and quality jobs by accelerating a sustainable and inclusive economic transformation to resume the path of inclusive growth and poverty reduction, the World Bank Group’s 2021 Systematic Country Diagnostic (SCD) has recommended. According to SCD, the government should focus …
Read More »World Bank warns of rises in food, energy prices due to Russia-Ukraine conflict
Energy prices are expected to rise more than 50 percent in 2022 before easing in 2023 and 2024 Washington, U.S. | Xinhua | The Russia-Ukraine conflict has dealt “a major shock” to commodity markets, altering global patterns of trade, production and consumption, the World Bank (WB) said in a report released …
Read More »World Bank to fund Lira-Kamdini road construction
Kampala, Uganda | THE INDEPENDENT | The World Bank will fund the construction of the 78km Lira- Kamdini road. In January, President Museveni directed the government takes over funding for the road after the World Bank set stringent conditions on environmental and social impact studies. For instance, one of the conditions …
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