The IMF’s April 2025 Regional Economic Outlook for Sub-Saharan Africa presents a clear warning: regional growth is slowing, debt pressures are mounting, and donor assistance is declining. Yet the report outlines critical opportunities particularly in domestic revenue mobilization, structural reform, and private sector activation that can shape a more resilient …
KIGALI Rwanda (Xinhua) -- The Rwandan government and the World Bank on Monday signed a financing agreement worth of 81 million U.S. dollars for the reconstruction of the 66.5-km road network in Rwanda. The credit provided under International Development Association (IDA) is expected to support Rwanda’s transport sector under the …
According to the World Bank's report 'African cities opening doors to the world' potential investors and trading partners quickly see evidence of the physical and economic dysfunction that constraints public service provision, inhibits labor market pooling and matching, and prevents firms from reaping scale and agglomeration benefits. The report indicates …
Renewable energy capacity around the world was boosted by a record amount in 2016 and delivered at a markedly lower cost, according to new global data – although the total financial investment in renewables actually fell. The greater “bang-for-buck” resulted from plummeting prices for solar and wind power and led …
Abuja — The minister of State for Environment, Alhaji Ibrahim Jibril, has said with a capital of $500 million made available by the World Bank, the Nigeria Erosion and Watershed Management Project (NEWMAP) will adopt a holistic approach in tackling gully erosion which has been plaguing different parts of the …
Aims to accelerate early leads through product-development pipeline Developing home-grown vaccines to prevent dengue, human papillomavirus and pneumococcal infection, and biologics for diseases such as cancers and rheumatoid arthritis, are among the identified focus areas for the recently launched ₹1,500-crore National Biopharma Mission. The final decision on national identified priority …
The cost of emitting carbon dioxide must rise to $50-$100 per tonne by 2030, much higher than the current price in Europe of less than $6, if countries are to meet climate pledges made under the Paris Agreement, economists said on Monday. It follows a call this month by a …
ADDIS ABABA Ethiopia (Xinhua) -- Ethiopia is preparing to launch a 75-MW Aluto Langano Geothermal project to tap into the country’s geothermal potential, the Ministry of Water, Irrigation and Energy (MoWIE) said Thursday. According to a statement by Bizuneh Tolcha, Communications Director of MoWIE, the World Bank has already provided …
Emerging economies are increasingly taking the lead in shifting the world onto a cleaner development path, a senior World Bank official said on Wednesday, pointing to the role of China and India in pushing down the cost of producing solar power. In India, for example, recent auctions to construct and …
An Enabling the Business of Agriculture (EBA) study conducted by the World Bank has ranked Zimbabwe's seed sector as number 15 out of the 62 countries measured. The report measures and monitors key elements of countries' regulatory framework that affect agribusiness value chains. It also identifies and analyses legal barriers …
Governments of 100 countries still lacking disaster early warning systems have a duty to invest in the projects, which could save lives and property, and reap longer-term economic benefits, the U.N.'s meteorological agency said. With vulnerable countries in Africa, the Caribbean and the Pacific Islands among those still without early …
Companies' disclosure of risks to their business from climate change could become mandatory in a few years as investor pressure gathers pace, climate finance experts said on Tuesday. Investors have urged companies, particularly those operating in the oil, gas and coal sectors, to disclose the financial impact of long-term climate …
ABIDJAN - Africans are seeing a steady improvement in the quality of their lives, with some countries even nearing world averages, says a wide-ranging report out Monday on the continent's future. While large portions of the continent's 1.2 billion people live in poverty, many of Africa's 54 nations have made …
IFC, a member of the World Bank Group, will invest 137 million euros ($153.3 million) in subordinated green bonds issued by Poland's Bank Zachodni WBK to help it to finance climate-related projects, IFC said in a statement. This is the first green bond issue by a commercial bank Poland, IFC …
The World Bank has announced the signing of a $5.5 million grant agreement to manage the natural resources of Ghana. The Bank signed the agreement with Solidaridad West Africa for the management of natural resources in 53 selected local communities of the Brong-Ahafo and Western Regions of Ghana, it said …
The World Bank has given Botswana a $145.5 million loan to build water projects after it suffered a severe El Nino-induced drought in the past two years, Finance Minister Kenneth Matambo said on Thursday. In 2015, overall dam levels in the semi-arid southern African nation fell below 20 percent of …
Climate change is negatively affecting many regions of the world. The impact is more pronounced in regions with limited economic resources to adapt and highly reliant on natural resources. In East Africa, for instance, a large portion of the population depends on rain-fed agriculture for their livelihoods. This makes them …
World Bank will provide an assistance of Rs 960 crore for increasing green cover in the state. The proposal has been approved by the screening committee of the Union Ministry of Finance. Chief secretary S Ramaswamy said that the money would be spent on core activities such as plantation in …
This first edition of the biennial Africa Data Revolution Report aims to address issues on the process of transforming data ecosystems, from the status quo to an aspirational state where data from both conventional and new sources are being harnessed to better inform decision-making and enable sustainable development with contributions …
Nine states in the country will benefit from a new World Bank-supported $200 million agricultural programme, an official said in Kaduna yesterday. The programme, tagged Agriculture Productivity Processing Enhancement and Livelihood Scheme Projects, APPEALS, will focus on food security, local production, job creation and economic diversification. Dr. Sheu Salau, the …
Nigeria is seeking $5.2 billion from the World Bank to expand electricity generation, PREMIUM TIMES has gathered. The money is also meant to help the nation's economy recover from its first contraction in 25 years. The bank's private-sector lending arm, the International Finance Corporation, may invest about $1.3 billion in …
