World Bank

Malawi government signs US$170m energy deals with World Bank

October 24, 2019

MALAWI – The government of Malawi and the International Development Association (IDA), an arm of the World Bank Group, signed two financing agreements worth US$170m (K127 billion) towards the country’s power sector. The two Agreements are the Malawi Electricity Access Project and the Mozambique-Malawi Interconnector Project According to The Nation, the signing took place at […]

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Bank of Ghana’s governor appointed IMF/World Bank Chair of Board of Governors

October 23, 2019

AFRICA – The governor for Bank of Ghana, Dr Philip Yedu Addison has been appointed chair of the board of governors of the IMF and the World Bank for 2020. Dr. Addison was appointed during a selection process which took place at the 2019 Annual Meetings Plenary of the Bretton Woods institutions in Washington DC. […]

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Nigeria secures US$3bn from World Bank to boost power supply

October 22, 2019

NIGERIA – The Federal Government through its Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed has said that the World Bank has finally approved its $3bn loan request for the expansion of the power transmission and distribution networks in the country.    The minister said this while addressing journalists on the outcome of […]

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World Bank slashes Sub-Saharan Africa’s growth forecast as global economy uncertainties escalate

October 15, 2019

AFRICA – The World Bank in October this year cut its economic growth forecast for sub-Saharan Africa for 2019 to 2021 by 0.2 percentage points from its earlier projection. The multilateral financial institution cited a slowdown in fixed investment and policy uncertainty in the global economy as reasons for the downward review of the growth […]

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World Bank lends US$450m to support Tanzania Social Action Fund

October 11, 2019

TANZANIA – The government of Tanzania received a loan of US$450 million (TSh1.035 trillion) from the World Bank to support the implementation of the third phase of the Tanzania Social Action Fund (Tasaf) project. The permanent secretary ministry of finance Dotto James said that unlike the first phase, the emphasis on the second phase is […]

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World Bank commits to invest US$200bn in climate related projects

October 2, 2019

GLOBAL – World Bank has revealed plans to invest US$200 billion in climate and environment related investments as from 2021 to 2025. This information was revealed by President of the World Bank Group, Mr. David Malpass in a blog post on the bank’s website.  Mr. Malpass also noted that the World Bank said that investment […]

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World Bank to fund Malawi-Mozambique power interconnector project

September 30, 2019

MALAWI– The World Bank has approved grants and loans totalling US$57 million (K42bn) for the Mozambique-Malawi Regional Interconnector Project which will improve access to reliable electricity for Malawians. Mozambique is expected to receive a grant of US$24 million from a Norwegian trust fund administered by the World Bank and a grant of 20 million euros […]

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IMF appoints Kristalina Georgieva as new MD

September 26, 2019

GLOBAL – The International Monetary Fund has formally selected Kristalina Georgieva to be the fund’s Managing Director. The Bulgarian nation will become the second woman ever to lead the 62 years old, 189-member institution. The selection had been all but guaranteed after the global crisis lender said earlier this month that Georgieva, a former World […]

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World Bank appoints Laporte as new Country Director for Sierra Leone

September 19, 2019

SIERRA LEONE – The World Bank has appointed Pierre Frank Laporte as the new Country Director for Sierra Leone, Liberia and Ghana. While meeting the President of Sierra Leone H.E Julius Maadi Bio, the new World Bank Chief assured His Excellency that he would use his experience and expertise to bring the right support to […]

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World Bank appoints Marie-Nelly as new director of Southern Africa

September 19, 2019

SOUTHERN AFRICA – World Bank has appointed Marie Françoise Marie-Nelly as the Country Director for South Africa, Namibia, Lesotho, Botswana and Eswatini reports New Era. Marie-Nelly has extensive experience working in the Middle East, North Africa and Sub-Saharan regions in countries with diverse set of contexts and different development needs and trajectories. Prior to taking […]

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