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Tag : World Bank

Business

World Bank backs Morocco hydropower storage with $265m

omandailynews.com
RABAT, MOROCCO / MENA Newswire / – The World Bank has approved $265 million to support Morocco’s Ifahsa Pumped Hydropower Storage Project, a 300-megawatt clean energy facility planned for the country’s north. The financing backs a major storage project designed to help Morocco add more renewable power to its national......
Business

World Bank approves US$700 million loan for Jordan jobs

omandailynews.com
AMMAN, JORDAN / MENA Newswire / – The World Bank approved a US$700 million loan for Jordan to support private investment, job creation and economic reforms. The financing falls under the Jordan Growth and Competitiveness Development Policy Financing II program. It supports steps linked to the country’s Economic Modernization Vision......
Business

Egypt secures $1 billion World Bank reform support

omandailynews.com
Egypt gains new World Bank funding to boost private sector jobs, strengthen fiscal stability and support greener growth goals nationwide....
Business

Syria gets US$225 million World Bank water health aid

omandailynews.com
Syria will receive US$225 million in World Bank grants to rebuild water and health services after years of conflict damage nationwide....
Business

ADB unveils fund to speed ASEAN power grid plans

omandailynews.com
MANILA: The Asian Development Bank has launched a new multi-partner trust fund with about $25 million in initial backing to accelerate preparation of cross-border energy and transmission projects in Southeast Asia. The new vehicle, called the Regional Connectivity Fund for Energy in Southeast Asia, is aimed at advancing the ASEAN Power......
Health

WHO report highlights new global pandemic risks for 2024

omandailynews.com
The WHO has warned of rising pandemic threats in a report highlighting recent disease outbreaks, including Marburg virus, Mpox, and avian influenza, and urges stronger global preparedness....
Business

World Bank predicts 4.8 percent expansion in UAE’s non-oil sector in 2023

omandailynews.com
The World Bank has released its projection stating that the United Arab Emirates (UAE) is expected to experience a robust growth of 4.8% in its non-oil sector in 2023, contributing to an overall GDP growth of 2.8%. This growth is driven by strong domestic demand, particularly in sectors such as......
Business

US nominates former Mastercard CEO, Ajay Banga, to lead World Bank

omandailynews.com
US President Joe Biden nominated former Mastercard CEO Ajay Banga to lead the World Bank, crediting his experience with global challenges such as climate change. David Malpass, a Trump appointee, announced last week that he would step down in June from his role as head of the 189-nation poverty reduction......