World Bank

Africa’s economic growth sluggish- world bank

STRATEGISING: World Bank Chief Economist for the Africa Region, Albert Zeufack Economic growth in Africa rebounds, but not fast enough -Sub-Saharan Africa projected to reach 3.1 percent in 2018 and to average 3.6 percent for the period, 2019-2020 Africa is showing signs of economic growth but the growth is not fast enough, the World Bank has stated. This was the general feeling at the recent launch of Africa’s Pulse, a bi-annual analysis of the state of African economies conducted by…

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Increase in remmitances for the Caribbean in 2017 — World Bank

WASHINGTON, United States — The World Bank says remittances flows into Latin America and the Caribbean grew 8.7 per cent in 2017, reaching another record high of nearly US$80 billion. The Washington-based financial institution said the main factors for the increase were stronger growth in the United States and tighter enforcement of US immigration rules, “which may have impacted remittances as migrants remitted savings in anticipation of shorter stays in the United States”. In 2018, the World Bank said, remittances…

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Workers dying on tea farms backed by the World Bank

At least seven workers have died in the past two years on Indian tea plantations that are partly financed by the World Bank, charities said yesterday in an official complaint. Exploitation and poor working conditions persist after being exposed by a 2016 investigation by the Compliance Advisor Ombudsman (CAO), an accountability mechanism of the World Bank’s International Finance Corp (IFC), the charities said. The IFC and Tata Global Beverages Ltd in 2009 set up Amalgamated Plantations Private Ltd (APPL), which…

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The huge number driving Trump’s frosty relationship with Germany’s Merkel

French President Emmanuel Macron (left), German Chancellor Angela Merkel and President Trump attended the G-20 meeting in Hamburg in July. (John Macdougall/Getty Images) The contrast between President Trump’s cozy relationship with French President Emmanuel Macron and his frosty relationship with German Chancellor Angela Merkel is on full display this week. Both European leaders are visiting Washington — but while Trump embraced Macron and threw him a state dinner, Merkel is getting a few hours over lunch. Trump’s rockier relationship with Merkel can be traced…

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UPDATE 1-World Bank raises 2018 Polish GDP growth forecast to 4.2 pct

(Adds more comments, information and background) WARSAW, April 27 (Reuters) – The World Bank said on Friday it has raised its forecast for Poland’s 2018 gross domestic product growth to 4.2 percent from 4.0 percent seen at the beginning of the year, with the expansion expected to be fuelled by private consumption and investments. “Economic growth in 2018 in Poland is projected to reach 4.2 percent, compared to 4.6 percent last year. … Looking ahead, the Polish economy will probably…

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World Bank approves $100 million to help Sri Lanka modernize its education system

* World Bank approves $100 million to help Sri Lanka modernize its education system Fri, Apr 27, 2018, 12:03 pm SL Time, ColomboPage News Desk, Sri Lanka. Apr 27, Washington: The World Bank said its Board of Executive Directors on Thursday approved a $100 million credit to support Sri Lanka’s efforts to strengthen and modernize its education system. The General Education Modernization Project (GEM) will modernize and diversify the curriculum of general education in keeping with the transformation…

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World Bank approves USD100Mn to help Sri Lanka modernize education system – Lanka Business Online

Apr 27, 2018 (LBO) – World Bank Board of Executive Directors on Thursday approved a 100 million US dollars credit to support Sri Lanka’s efforts to strengthen and modernize its education system. The General Education Modernization Project (GEM) will modernize and diversify the curriculum of general education in keeping with the transformation taking place in Sri Lanka’s society and economy. Greater emphasis will be on strategic subjects that are key for economic development such as English and Mathematics. World Bank…

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Africa’s debt risk worsening: World Bank

By PAUL REDFERNMore by this Author The World Bank says 18 sub-Saharan African countries are at “high risk of debt distress” in 2018 compared with just eight five years ago. The World Bank’s Pulse report doesn’t name the 18 but a report in TheEconomist says Kenya is among the 18 countries where government debt is above 50 per cent of GDP. The bank has also expressed concern that tax receipts are not meeting the cost of debt repayments in several…

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BAZAR: SIGAR Criticizes Ministry of Finance And World Bank

Special Inspector General for Afghanistan Reconstruction (SIGAR) criticized the ministry of finance and the World  Bank for failing to properly manage $10 billion USD in Afghanistan.  Sigar’s report indicates that the Government of Afghanistan and the World Bank are unable to account for $10 billion in aid that has been spent through the Afghan Reconstruction Trust Fund (ARTF) over the past 15 decades. In this episode host Zarmina Mohammadi discusses the issue with Naser Temori, a researcher at Integrity Watch Afghanistan. In addition,…

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India has to create more formal jobs: World Bank

The World Bank said informal workers show resourcefulness in handling the constraints they face, but the businesses they run are too small to raise the livelihoods of their owners. Photo: Hemant Mishra/Mint New Delhi: Making a case for creating more formal jobs, the World Bank in its draft World Development Report 2019 said in India the pay-offs in the formal sector are over twice as much as in the informal sector, which is among the largest in the world. The…

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World Bank forces Uganda to take up a gender violence loan – Kasaija

World Bank forces Uganda to take up a gender violence loan – Kasaija The Minister of Finance Planning & Economic Development Matia Kasaija says the World Bank has threatened to stop lending to Uganda if its proposal to extend a 40 million dollar loan to fight gender based violence is rejected. Kasaijja says that the proposal was rejected by majority members of cabinet but the World Bank Country Director to Uganda insisted that Uganda needs to address environmental and gender based…

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World Bank Group and International Monetary Fund to Hold 2021 Annual Meetings in Marrakech, Morocco – World Bank News Today

World Bank Group and International Monetary Fund to Hold 2021 Annual Meetings in Marrakech, Morocco – World Bank News Today – EIN News Trusted News Since 1995 A service for banking industry professionals · Thursday, April 26, 2018 · 444,151,845 Articles · 3+ Million Readers News Monitoring and Press Release Distribution Tools Press Releases Events & Conferences Source link

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You can’t do without private developers, says World Bank :: Kenya

Apartment blocks in Nairobi. The World Bank has urged State to support private developers. [File, Standard] In summary Global lender urges State to provide conducive environment to the private actors willing to provide affordable housing under the Big Four agenda The World Bank has asked the Government to offer a conducive business environment to private developers for the dream of providing affordable housing to be realised. A new report by the global lender cites lack of access to land, inadequate…

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World Bank urged to schedule talks on water dispute with India – Pakistan

WASHINGTON: Islama­bad has asked the World Bank to schedule a meeting with a Pakistani team in Washington later this month for talks on water dispute with India, official sources told Dawn on Wednesday. Early this month, Pakis­tan asked the World Bank to address its concerns over India’s two hydropower projects — the 330-megawatt Kishanganga and 850MW Ratle plants. Islama­bad believes that both plants violate the Indus Water Treaty that distributes water of Indus River and its tributaries between India and…

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Teachers unable to pass simple tests: Study

By OUMA WANZALAMore by this Author A World Bank report has once again put teachers on the spot over their preparation in handling pupils at the classroom level. The report, which was presented on Wednesday at a Pan-African high-level conference on education in Nairobi, indicates that mathematics and language teachers are not able to score 100 per cent from Grade 4 work. The report dubbed Facing Forward: Schooling for Learning in Africa, indicates that teachers tested on Grade 4 English…

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