First Independent Mena Newspaper
The World Bank is collaborating with Senegal to address severe flooding in the Senegal River Valley, exacerbated by exceptional rainfall and the influence of the Manantali and Diama dams. In this vein, the World Bank has stepped in with 1.149 billion FCFA through the Senegal River Valley Development and Resilience Project, the organization announced. The […]
The World Bank has revised Tunisia’s 2024 economic growth forecast downward to 1.2%, compared to the 2.4% projected in April 2024. In its October 16, 2024 report, “Growth in the Middle East and North Africa,” the Bank expects Tunisia’s growth to stabilize at 2.2% in 2025. The report cites weak growth across the MENA region, […]
The World Bank revised downwards economic growth in Sub-Saharan Africa to 3% instead of 3.4%, citing the impact of the war in Sudan. The forecast is still higher than the 2.4% registered last year, thanks to increased private consumption and investment, the Bank said in a recent report. The report forecasts growth of 3.9% for […]
The African Development Bank (AfDB) and the World Bank are working together to provide electricity to 300 million Africans by 2030 through renewable energy system. Some 600 million Africans lack access to electricity, creating significant barriers to health care, education, productivity, digital inclusivity, and ultimately job creation, according to the World Bank. The WB said […]
The World Bank plans to utilize guarantees to draw more international financing to Morocco, said Hiroshi Matano, Executive Vice President of the Multilateral Investment Guarantee Agency (MIGA). “We believe that these guarantees can help Moroccan borrowers (corporate and public institutions and non-sovereign risk counterparties) diversify their financing sources with private capital,” Matano said in an […]
On Monday September 9 in Nouakchott, Khaled Abidine Sidi, Secretary General of the Ministry of Digital Transformation and Modernization of Administration, met with a delegation from the World Bank Group led by Ousmane Diagana, the Bank’s Vice President for West and Central Africa. In his remarks, Sidi highlighted that the meeting centered on enhancing cooperation […]
Despite consecutive dry years, Morocco’s banking sector has shown resilience and stability, the World Bank said. “Stress tests in Colombia, Morocco, and Mexico indicate that overall physical risks such as droughts and floods as well as transition risks are relatively benign for the financial system as a whole,” the World Bank said in its “Finance […]
The World Bank has launched a new Sweden-funded Trade Facilitation Support Program (TFSP) in Middle East and North Africa (MENA) that aims to streamline trade processes, reduce costs, and enhance connectivity, thereby boosting regional and international trade. By aligning with international standards and focusing on inclusive growth, the TFSP is designed to boost economic development, reduce […]
The economy of Guinea Bissau remains highly dependent on Cashew nuts, whose exports dropped significantly last year depriving the country of much needed revenue to diversify the economy and curb poverty, the World Bank said. “While cashew production reached 260 thousand tons, the highest production yield on record, only 170 thousand tons were exported by […]
Morocco and the World Bank (WB) signed in Rabat Monday the Rapid Response Option (RRO) agreement, a significant step in enhancing the Kingdom’s capacity to swiftly address emergencies and provide crucial support to its citizens. The agreement was signed by Minister of Economy and Finance, Nadia Fettah, and WB Country Director for the Maghreb and […]