Egypt secures $1 billion World Bank reform support
Egypt gains new World Bank funding to boost private sector jobs, strengthen fiscal stability and support greener growth goals nationwide....
Tag : World Bank
Syria gets US$225 million World Bank water health aid
Syria will receive US$225 million in World Bank grants to rebuild water and health services after years of conflict damage nationwide....
ADB unveils fund to speed ASEAN power grid plans
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......
UAE leads MENA with 4.1% GDP growth forecast for 2025
The UAE is projected to see GDP growth of 3.3% in 2024 and 4.1% in 2025, driven by a robust non-oil sector, according to the World Bank's latest MENA Economic Update released today....
WHO report highlights new global pandemic risks for 2024
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....
World Bank predicts 4.8 percent expansion in UAE’s non-oil sector in 2023
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......
US nominates former Mastercard CEO, Ajay Banga, to lead World Bank
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......
World Bank to give Turkey $1.78 billion in earthquake aid funds
Turkey will receive $1.78 billion in relief and recovery financing from the World Bank. This is as it deals with the aftermath of an earthquake that killed over 20,000 people and left hundreds of thousands homeless. Ankara will receive $780 million as a result of the World Bank diverting funds......
Growth prospects for the Indian economy are bullish – World Bank
Considering India’s increased resilience to global shocks, the World Bank raised its GDP growth forecast for FY23 to 6.9%. In its India Development Update, the World Bank stated that the revision was due to the Indian economy’s increased resilience to global shocks and better-than-expected second-quarter numbers. India’s growth forecast has......
Indian economic growth is expected to be 7.4 percent this year and next
Indian Finance Minister Nirmala Sitharaman said the Indian economy will grow at 7.4 percent this fiscal year and next. International Monetary Fund (IMF) and World Bank projections for India’s growth for the next two fiscal years are in line with Reserve Bank of India (RBI) estimates. Speaking at an event in Mumbai,......