World bank to lend Zambia $210 million as country targets to double CDF to K56m per year. The World bank under the Zambia Devolution Support Project will fund the Zambia …
AFRICA NEWSBanking, Finance & Investment
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WORLD BANK
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Banking, Finance & InvestmentEconomyEnergySouth AfricaSouthern Africa
South Africa’s growth rate would expand if it moves away from coal
South Africa could achieve higher economic growth if it moves away from coal and adopts renewable energy sources, a report by the World Bank shows. The Country Climate and Development …
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Banking, Finance & InvestmentBusinessNigeriaWestern Africa
World Bank Partners with IMF to assess Nigeria’s debt sustainability
The President of the World Bank Group, David Malpass, has said that the bank will work with the International Monetary Fund to assess Nigeria’s debt sustainability. Malpass said this during …
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Banking, Finance & InvestmentNigeriaSouthern Africa
World Bank intensifies efforts to advance the fight against corruption sanctions 35 firms
The World bank in its bid to intensify efforts to advance the fight against corruption in its development projects has sanctioned 35 firms and individuals in 2022 This is according …
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Banking, Finance & InvestmentBusinessNigeriaWestern Africa
Lagos seeks partnership with World Bank for mass housing development
The Lagos State Government has sought increased partnership with the World Bank for the development of mass housing schemes across the state. The appeal by the state government followed increasing migration to Lagos from …
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AfricaAFRICA NEWSEconomyGhanaNewsWestern Africa
World Bank classifies Ghana as high debt distressed country, projects debt to GDP of 104%
The World Bank has classified Ghana as a high debt distress country as it projects the nation’s debt to Gross Domestic Product (GDP) of 104.6 per cent by the end …
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AfricaAFRICA NEWSBusinessEgyptNewsNorth AfricaNorthern Africa
World Bank approves a $400m loan to Egypt for low-carbon freight railway
The World Bank has approved a $400 million loan to Egypt to develop a railway bypass for freight trains that will help improve and decarbonise the country’s transportation and logistics sector, the …
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AfricaAFRICA NEWSBanking, Finance & InvestmentBusinessEconomyNewsNigeriaWestern Africa
Nigeria secures a $750m loan from World Bank
The World Bank has approved a $750 million International Development Association (IDA) credit to the Nigeria State Action on Business Enabling Reforms (SABER) Program-for-Results to help Nigeria accelerate the implementation …
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Banking, Finance & InvestmentEconomyKenya News
Ruto faces return of costly foreign loans in the first year of the new administration
The Treasury has said Kenya will find it challenging to sustain reliance on multilateral lenders like World Bank Group for external funding, signaling a return of costly foreign loans in …
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AfricaEconomyGlobal News
Global recession looms amid broadest rate hikes in five decades, World Bank says
The global economy may face a recession next year caused by an aggressive wave of policy tightening that could yet prove inadequate to temper inflation, the World Bank said in …