First Independent Mena Newspaper
African finance ministers have requested the support of the International Monetary Fund, the World Bank and the European Union for bilateral, multilateral and commercial debt relief amid the coronavirus crisis. The request was germinated from the second virtual meeting on Tuesday, hosted by Vera Songwe, Executive Secretary of the Economic Commission for Africa, and […]
The World Bank has granted Egypt a $500 million additional financing destined to support ongoing efforts to improve the affordability of formal housing for low-income households, the Washington-based institution said in a statement. The financing also seeks to strengthen Egypt’s Social Housing and Mortgage Finance Fund capacity to design policies and coordinate social housing programs. […]
Despite Morocco’s significant progress on the Doing Business index, much remains to be done for Morocco to move from 2.8% growth expected this year to 6 or 7% in order to reduce unemployment, World Bank Vice President for MENA region Ferid Belhaj said. Morocco improved its ranking to 53rd position in the doing business index […]
The World Bank’s Board of Executive Directors has approved a $300 million loan (€271.8 million) to support the strengthening of Morocco’s municipalities, an objective that is part of the Kingdom’s broader efforts to upgrade urban services and turn urban conglomerations into engines of growth and job creation. The Municipal Performance Project aims to build capacity […]
Economic growth in the region of North Africa and the Middle East is expected to drop to 0.6 pc in 2019 against a 1.2 pc growth posted last year, says the World Bank in its latest report. The growth forecast for 2019 has been revised downwards due to intensified global economic headwinds and rising geopolitical […]
As Algerians of all walks of life continue to protest against the military Generals and old guards for keeping a tight grip on the country since independence, all economic sectors of the country are plummeting, heading for a crash. This is the conclusion of the World Bank, which says that deepening political crisis affects business […]
The World Bank has stressed the need to support Moroccan companies to enable them better penetrate markets, develop and export their goods, services and products. In an analysis on the situation of the private sector in the North African Kingdom, the WB experts say favorable business environment requires the setting up of conditions conducive to […]
Cyclone-hit Malawi will need 290 billion Malawian kwacha (more than $ 381 million) for reconstruction work, according to a post-disaster needs assessment conducted by the government. According to Everton Chimulirenji, Vice-President of the Republic of Malawi, also in charge of disaster risk management, the government is committed to improve resilience to such events, to improve […]
The World Bank announced Thursday the launch of a new program worth $500 million (4.77 billion dirhams) destined to support Moroccan authorities in the generalization of access to pre-school education, strengthening the skills and competencies of teachers and upgrading the governance of the education sector. The World Bank’s “Education Sector Support Program for Morocco” to […]
The World Bank’s Board of Directors has approved $200 million in funding for the establishment of a Renewable Energy Guarantees Program (REGREP) in Ethiopia. These funds, to be disbursed by the International Development Association (IDA), will help the authorities in Addis Ababa to reform their regulatory framework and gear it up for private investment and […]