Tag: World Bank
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🇱🇷 Peanuts for Schools, Millions for Politicians: A Critical Look at Liberia’s Education Financing
In the latest move to boost Liberia’s educational sector, the World Bank Board has approved financing for the Excellence in Learning in Liberia (EXCEL) Project. This project, aimed at improving the country’s education system, comes with significant financial backing: a $60 million credit from the International Development Association (IDA) and an additional $28.7 million grant…
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🇹🇬 WORLD BANK APPROVES $300 MILLION TO BOOST TOGO’S AGRICULTURAL TRANSFORMATION
The World Bank Group (WBG) has approved $300 million to help Togo become a center for agribusiness and animal nutrition in the region. The fund will help Togo scale up its Agricultural Modernization Program (ProMAT) and transform its agricultural sector through productive and climate-smart investment. This Sustainable Agricultural Transformation Program-for-Results (PforR) will last for 10…
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Colombian President Gustavo Petro Claims US Visa Revoked by Trump Administration
BOGOTÁ, Colombia – In a revelation that underscores the complexities of international diplomacy in the post-Trump era, Colombian President Gustavo Petro has claimed that the Trump administration revoked his travel visa to the United States. The disclosure was made Tuesday during a Cabinet meeting in Bogotá, where Petro explained the reason for his absence from…
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Ethiopia secures $1.5 billion loan from World Bank support for ongoing economic reforms
The agreement, announced on Tuesday, includes a $1 billion grant and a $500 million loan, representing a significant step in the long-standing partnership between Ethiopia and the World Bank, according to the finance ministry. The deal was signed by Ethiopian Finance Minister Ato Ahmed Shide and Maryam Salim, World Bank Country Director for Ethiopia, Eritrea,…
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OUTGOING WORLD BANK COUNTRY DIRECTOR APPLAUDS NIGERIA’S ECONOMIC PROGRESS
The departing World Bank Country Director, Dr. Shubham Chaudhari, commended Nigeria for its proactive approach and strong efforts in bolstering monetary policies and promoting sustainable economic growth despite significant challenges. During a gathering in Abuja hosted by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, Chaudhari expressed readiness for further…
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“Taking more and leaving less”: expert on how the west facilitates illegal mining in Africa
🌍 When African countries want to review their mining codes to get more benefits for themselves, the West and the World Bank in particular try to oppose it and promote systems that allow their companies to exploit the resources of African nations, Dr. Alex Mvuka Ntung, an independent research consultant who specializes in the Great…
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South Africa’s ports among the worst in the world
The volume of rail and port cargo handled in South Africa has declined significantly over the past few years, with the country’s ports now ranking among the worst in the world. Financial services firm PwC revealed this in its South Africa Economic Outlook for March 2024, which focused on the country’s stagnant productivity. The firm…
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Guinea’s transition back to a democratic path
This will be a pivotal year for charting the trajectory of Guinea’s transition back to a democratic path. A military junta led by Colonel Mamady Doumbouya seized power from Guinea’s first democratically elected president, Alpha Condé, in September 2021. As part of a 10-point transition roadmap negotiated with the Economic Community of West African States…
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New Financing to Support 900,000 Farmers and Road Users for Economic Transformation in Liberia
WASHINGTON, December 22, 2023 – The World Bank Board has approved a Second Additional Financing for the Rural Economic Transformation Project (RETRAP-AF II). This financing is funded by an International Development Association (IDA)* credit of US$76 million from its Scale-Up Window (SUW) and $9 million grant from the KfW Development Bank through the Liberia Reconstruction…
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