Wednesday, 21 October 2020

Tag Archives: World bank

World Bank approves $12B to fight COVID-19

LONDON: The World Bank approved an envelope of $12 billion for developing countries to finance the purchase and distribution of novel coronavirus vaccines, tests, and treatments for their residents. The financing is part of an overall World Bank Group (WBG) package of up to $160 billion through June 2021 to fight ...

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Virus affects 81% of global workforce

LONDON: The International Labour Organization (ILO) told the World Bank and International Monetary Fund (IMF) that workplace closures have risen so fast that 81% of the global workforce live in countries with mandatory or recommended closures. ILO Director-General Guy Ryder urged the IMF and World Bank to focus their response ...

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Clean cooking still a challenge in Nepal: World Bank

KATHMANDU: Despite progress in the quality of electricity access in recent years, clean cooking remains a challenge for Nepal, as firewood, which is polluting and causes a myriad of heath issues particularly for women and children, remains the most widely used source of cooking fuel, states a first-of-its-kind national survey ...

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IMF urges reforms of global trade system

WASHINGTON: The International Monetary Fund welcomed signs of a de-escalation in US-China trade tensions but said an urgent updating of trade rules was needed to restore strong growth to the global economy. Managing Director Kristalina Georgieva said she was encouraged by news of a tentative trade deal reached by Washington ...

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World Bank cuts India’s growth projection to 6 per cent

NEW DELHI: The World Bank said that the India’s growth rate is projected to fall to 6 per cent after a deceleration of the economy in the initial quarters of this fiscal year. In 2018-19, the growth rate of India stood at 6.9 percent. Established in 1944, the five institutions ...

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World Bank to allocate $120m for Lebanon’s

BEIRUT: Lebanese Health Minister Jamil Jabak said Sunday that the World Bank has decided to allocate 120 million U.S. dollars to equip primary care centers and finance people’s medical needs in Lebanon, the National News Agency reported. “The World Bank will offer 120 million U.S. dollars to equip centers and ...

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Pakistan to pay gold mining firm $6bn fine

ISLAMABAD: Pakistan will have to pay almost $6 billion in damages to a foreign gold mining firm whose dig was shut down by the government in 2011, the World Bank said on Sunday. The consortium Tethyan Copper company – of which Canadian gold firm Barrick and Chile’s Antofagasta Minerals control 37.5 ...

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World Bank, Pakistan ink loan agreements worth $918 million

ISLAMABAD: Pakistan and World Bank on Tuesday signed loan agreements worth of $918 million that would help the country to raise revenue and reduce compliance cost with a goal of providing better services to the people. Secretary, Economic Affairs Division, Noor Ahmed signed the financing agreements on behalf of government ...

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Tanzania agrees $1.7bn financing deal with World Bank

DAR ES SALAAM: Tanzania has agreed a new $1.7 billion financing deal with the World Bank to fund various projects during fiscal year 2019/20, its finance ministry said. The agreement, which is comprised of low-interest loans and grants, includes a $400m loan for education and $300m for a poverty reduction ...

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IMF to block $400 Mn worth of Venezuelan funds until ‘govt recognition’

CARACAS: The international financial body froze Venezuela’s access to its money earlier in January. The International Monetary Fund announced Wednesday it will continue to block Venezuela’s access to approximately $400 million of special drawing rights until the “issue of government recognition” is clarified. The IMF and the World Bank have stated they are ready to move ...

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