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International Development
World Bank launches 2024 report; cautions middle-income countries on growth stagnation
By: Racheal Asamoah
The World Bank has launched its World Development Report 2024, highlighting the urgent challenge faced by middle-income countries as they risk falling into the “middle-income trap.”
Despite significant…
Armenia Secures €92 Million Loan from World Bank for Green Development and Refugee Assistance
The Financial-Credit and Budgetary Commission of the National Assembly of Armenia has approved the project for the ratification of a financing agreement between the Republic of Armenia and the International Bank for Reconstruction and…
The World Bank created a new fund to support Ukraine — what is known
The Executive Board of the World Bank on Thursday, October 10, created the Financial Intermediation Fund (FIF) to support Ukraine. Initially, the first contributions to the fund will come from the United States, Canada…
World Bank urges immediate allocation of funds to tackle climate change
"The main goal of the COP29 Presidency of the Conference of the Parties to the UN Framework Agreement on Climate Change, which will be held in Baku, is to create appropriate conditions for the participating parties for the formation of…
Pakistan’s economic outlook hinges on IMF programme, external financing: World Bank
A view of the World Bank's building. — Reuters/FileWorld Bank report projects GDP growth rate of 2.8% for Pakistan.Business confidence likely to improve after credit rating upgrades.Pakistan’s lack of trade openness harming exports, it…
Telangana considers aid from World Bank, JICA for Musi project
Hyderabad: The Telangana government is considering seeking international financial aid for the Musi Riverfront Development Project, which is estimated to cost between Rs 40,000 crore and Rs 60,000 crore. The project, aims to transform the…
US$61.3 Million in Subsidies Projected For EDSA by End of 2024 – World Bank Report
By zainab.joaque@awokonewspaper.sl
Freetown, SIERRA LEONE – The Sierra Leone government is grappling with increasing fiscal pressure as it continues to provide significant subsidies to the Electricity Distribution and Supply…
World Bank approves creation of Financial Intermediary Fund to support Ukraine
Stock photo: Getty Images
The World Bank's executive board has approved the creation of a Financial Intermediary Fund (FIF) to support Ukraine. The first contributions to the fund are expected to be made by the…
CM, World Bank delegation review various projects worth $3.1 billion
Sindh Chief Minister Syed Murad Ali Shah and a World Bank delegation led by its Director Mr Najy Benhassine review the development portfolio in their meeting at CM House on October 10, 2024. — Facebook/Sindh Chief Minister HouseSindh…
World Bank maintains India’s FY25 GDP growth forecast at 7% amid strong agricultural…
Propelled by higher agricultural production and robust employment growth from policy initiatives, spurring private consumption, the World Bank retained India's gross domestic product (GDP) growth forecast for FY25 at 7%, as projected last…