World Bank

World Bank Approves USD 200 Million Loan to Promote Agri-Food Sector

By Sanae ElouaziRabat – The World Bank‘s Board of Executive Directors approved a USD 200 million loan to support Morocco’s agricultural sector. In partnership with the International Finance Corporation, the World Bank’s initiative will strengthen agri-food value chains in the kingdom and make the food production sector even more efficient.  The World Bank explained in its statement that the loan program is designed to provide general support to Morocco’s agricultural sector – 15 percent of the kingdom’s economy. The Green…

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Peru’s president survives impeachment vote over corruption charges

LIMA, Peru — Peru’s President Pedro Pablo Kuczynski survived an impeachment vote Thursday night after 10 members of a hard-right opposition party decided at the last minute to break party ranks and abstain rather than vote for the controversial measure. Seventy-eight representatives voted in favor and 19 against. That came short of the necessary two-thirds supermajority, 87 votes, required in the 130-member single-chamber legislature. The surprise result, just after 11 p.m. following a marathon parliamentary session that started at 9.30…

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Ghana and World Bank sign $200 million financing agreement

Print Thursday 21st December, 2017 Accra, Dec. 21, GNA – Ghana and the World Bank Group (International Development Association), have signed a credit agreement worth US$200.0 million for the Second Macroeconomic Stability for Competitiveness and Growth Development Policy Financing (MSCGDPO II) programme. Mr Ken Ofori-Atta, Minister of Finance signed for Ghana whiles Mr. Henry Kerali, World Bank Country Director, signed on behalf o Accra, Dec. 21, GNA – Ghana and the World Bank Group (International Development Association), have signed a…

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Peru’s president defends himself before lawmakers, denies corruption charges

LIMA, Peru — Embattled President Pedro Pablo Kuczynski defended himself Thursday before lawmakers threatening to impeach him, asserting his innocence in a corruption scandal that has swept the region and warning that his ouster would undermine Peru’s democracy. Testifying in a session of the Peruvian Congress, which is controlled by his opponents, Kuczynski told lawmakers, “I am here to look you in the eye and tell you that I am not corrupt and I have not lied,” news agencies reported.…

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Government mustn’t get carried away by good news

Prime Minister Prayut Chan-o-cha (fourth from right) and US President Donald Trump (5th from right) pose in a group photo during the Thai leader’s visit in October. (Photo courtesy Government House) Of late, there has been a lot of “feel-good” news about Thailand, ranging from the improved economic outlook to international recognition. But doubts remain over whether it is time to celebrate. The US Trade Representative’s (USTR) decision on Saturday to upgrade Thailand’s status from the Priority Watch List (PWL)…

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Allianz pumps $100m into micro-insurer targeting world’s poorest

German insurance giant Allianz has poured almost $100m (£75m) into a micro-insurer that targets those living on less than $2 a day.   Bima, which targets low-income customers in Africa, Asia and Latin America, has grown rapidly since launching its first operation in Ghana seven years ago, when it offered free life insurance to people who topped up their mobile phones with five cedi (81p) a month.  Allianz chief executive Oliver Bäte said the group’s investment in Bima will help it target the “next…

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Gold, silver investment demand flat in 2018

NEW YORK: Gold and silver investment demand is expected to be virtually flat in 2018, as geopolitical and economic concerns continue to draw buying interest, New York-based CPM Group said on Monday. Gold investment demand will increase slightly, to 27.5 million ounces in 2018 from 27 million ounces this year, Jeffrey Christian, managing partner at CPM Group, said. Silver investment demand will rise to 128 million next year from 108 million ounces in 2017, Christian said. Fabrication demand for silver,…

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For manufacturing sector, recession continues – Punch Newspapers

The manufacturing sector, which fell from a positive outlook to negative during the 2016 recession, rose briefly in the first quarter of 2017, aided by some policy initiatives. However, it plunged back to a negative position in the third quarter of 2017. ANNA OKON takes a look at the situation The story of the rise and fall of the Nigerian manufacturing sector in the last two years has been well documented by the National Bureau of Statistics. According to the…

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2018 Budget of Consolidated Struggle

PERSPECTIVE   Akintujoye Ayo Bankole in this article identifies the pitfalls in the 2018 budget The 2018 budget is important to Nigeria in two major ways: 1) It is the last full-year budget to be implemented by this administration, one that rode to power on the back of tremendous goodwill and popular vote, but has largely failed to meet the expectations of the majority; 2) It is the first budget after the recovery from the recession which hit hard into Nigerians’ living…

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What Changed In The Solar Market In November?

Clean Power Published on December 17th, 2017 | by Zachary Shahan December 17th, 2017 by Zachary Shahan  What was new in the world of solar energy in November? That is, what significant changes occurred in the industry? For the second month in a row, summarizing a list of those changes is the humble goal I’m trying to accomplish. To further clarify, this article doesn’t include interesting op-eds about solar and it doesn’t include news that we thought was worth covering…

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Hanoi in the heart of a World Bank economist

Economist Martin Rama at the launch of the Vietnamese version of “Hanoi Promenade”‘. Uruguay-born Martin Rama first arrived in Hanoi in October, 1998, and has lived here since 2002 when he was appointed the World Bank’s Lead Economist for Vietnam. His love for Hanoi is captured in the book “Hanoi Promenade” which was written in Spanish and nominated for the 2017 “Bui Xuan Phai – For the Love of Hanoi” award.  The book accompanied by colorful photos of Hanoi illustrates his…

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World Bank approves $300m to modernise Punjab’s agriculture

The programme addresses the paradox that while Punjab’s farmers earn too little, people pay high prices for low-quality food. PHOTO: FILE ISLAMABAD: The World Bank approved $300 million on Friday to modernise agriculture in Punjab to raise farmers’ income, give consumers better quality and safer food at lower prices, create jobs on farms and agribusinesses, and improve the use of irrigation water. The resources provided by the World Bank will be part of a larger programme of the government of Punjab…

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