First Independent Mena Newspaper
Bank Al Maghrib, Morocco’s central Bank has teamed up with the World Bank to promote the use of digital money transfer services for the benefit of the inhabitants in rural zones. The two financial institutions have launched the «Douar Tour» initiative which seeks to inform rural populations about the various financial services available for money […]
Togo took delivery Thursday January 11 of laboratory equipment valued at $1.6 million, donated by the World Bank to bolster performance of 18 district hospitals. The donation, the Health Ministry said is in line with the implementation of the project to strengthen emergency preparedness and response to Covid-19. The equipment is made of laboratory refrigerators, […]
Gabon has secured a credit facility of $68.5 million to finance “Projet Digital Gabon”, a digital transformation project aiming at creating an environment conducive to accelerating digital transformation. The deal was signed late December by Mays Mouissi, Gabon’s Minister of Economy, and the World Bank Country Director for the Central African country, Cheick Fantamady Kanté, […]
Emerging and frontier markets in Africa now have a reason for cautious optimism in 2024 following a recent announcement by The Federal Reserve (Fed) signaling possible cuts of up to 75 basis points in the coming year. New forecasts from central bank officials showed a turn from the hawkish rate environment Fed Chairman Jerome Powell […]
Developing countries are on a “path to debt crisis” and another “lost decade”, World Bank warns in its latest annual publication, unless African and other debtor governments, private and official creditors and multilateral financial institutions agree on a quick and coordinated action to secure more support from the creditors. The 50th edition of the ‘International […]
The World Bank has resumed cooperation with Gabon several months after freezing all financing projects in the central African country in a reaction to the military coup of August 30 following an electoral process deemed rigged by the military. The Washington-based lender, local media ‘Gabon Review’ reports, notified the ministry of Finance and Economy in […]
Mauritania and World Bank signed Monday in Nouakchott two soft loan agreements worth $85 million for the financing of two projects. The first deal is about additional funding for the project to support decentralization and the development of intermediate towns (Moudoun Project), to the tune of $25 million. The project seeks to improve access to […]
As African leaders converged on Germany’s capital earlier this week to attend the G20 ‘Compact for Africa’ meeting, the African Union (AU) chief called for “positive competition” from Europe in the continent, which would be more welcome than its criticism of Chinese investments for saddling poor countries with huge debts. While addressing the high-level meeting […]
Morocco’s central bank purchased 200 million euros of sustainable bonds from the World Bank as Morocco hosts the annual meetings of the IMF and the World Bank in Marrakech. The EUR 100 million 3-year and EUR 100 million 5-year Sustainable Development Bond transactions will support the financing of the World Bank’s sustainable development activities, the […]
Economic growth in Sub-Saharan Africa is expected to decelerate this year by slumps in economic powerhouses South Africa, Nigeria and Angola, the World Bank has announced, expressing fears of a lost decade for the continent, faced with growing instability. For the current year, growth should reach 2.5%, compared with 3.6% last year, due in particular […]