World Bank | - Part 2

World Bank Fund For World’s Poorest Nations to Issue First Bonds

LAGOS, Capital Markets in Africa: The World Bank’s fund for the poorest countries is preparing to tap financial markets for the first time. The International Development Association plans to issue bonds to finance its loans and grants to countries such as Malawi and Niger. Created in 1960, IDA provides loans that charge no interest or very low rates primarily to countries that have an annual per capita income below $1,215. It also gives grants to…

Africa’s Economic Growth Slashes AMIDST Global Economic Weakness

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa — Amid falling commodity prices and continuing weakness in global growth, Sub-Saharan Africa’s gross domestic product (GDP) growth decelerated to an estimated 3.0% in 2015 from 4.5% in 2014, according to the latest World Bank projections. This low pace of growth, which translates into an increase in the region’s GDP per capita of less than 0.5%, was last seen in 2009 following the global financial crisis, and contrasts sharply…

World Bank Approves US$700m guarantees for Ghana’s Energy Transformation

Posted on by The Editorial Team

Washington, US (Capital Markets in Africa) – The World Bank’s Board of Directors today approved a record investment of $700 million in guarantees for Ghana’s Sankofa Gas Project – a transformational project that will help address the country’s serious energy shortages by developing new sources of clean and affordable natural gas for domestic power generation. The Board approved a unique combination of two guarantees for the Project – an IDA* Payment guarantee of $500 million that…

World Bank Commends DRC’s Efforts to Stabilize Macroeconomic Environment

Posted on by The Editorial Team

Kinshasa, DRC (Capital Markets in Africa):– World Bank Group Managing Director Dr. Sri Mulyani Indrawati on Tuesday concluded her visit to the Democratic Republic of Congo (DRC), where she met with President Joseph Kabila Kabange, Prime Minister Matata Ponyo and key members of the Congolese Government to discuss long-term development prospects for the region, and to review progress made as part of the Great Lakes Regional Initiative. During meetings held May 10-12, Dr. Indrawati commended…

Continued Weakness in Commodity Markets May Signal Long Term Easing of Prices

Posted on by The Editorial Team

Well-supplied markets are continuing to drive down prices of commodities, across the board, says the latest issue of the World Bank’s Commodity Markets Outlook (CMO), released today. Most indices edged further down during the first quarter of 2015, with food down 7.3 percent, crude oil down 13 percent and metals down 9 percent compared to the fourth quarter of 2014. Prices are expected to stay weak for the rest of this year, with only a…

Africa: End of the Commodity Super-Cycle Weighs on Growth

Posted on by The Editorial Team

Sub-Saharan Africa’s growth will slow in 2015 to 4.0 percent from 4.5 percent in 2014, according to World Bank projections released today. This downturn largely reflects the fall in the prices of oil and other commodities, notes Africa’s Pulse, a twice-yearly World Bank Group analysis of the issues shaping Africa’s economic prospects released today at the start of the World Bank Group’s 2015 Spring Meetings, which will draw the world’s finance and development ministers to Washington,…

« 1 2