Latest in Tag: World Bank Highlight
Latest in Tag: World Bank
World Bank arbitrator accepts charges raised by DIPCO against government
Charges result of Damietta Port crisis
Egypt and IMF end talks without agreement
Finance Minister Al-Morsi Hegazy will travel to Washington to resume negations over $4.8bn loan during annual joint IMF and World Bank spring meeting
EIPR conference urges rethinking of World Bank strategy
Bank Information Centre and Egyptian Initiative for Personal Rights say the World Bank must do more to ensure future loans are used more effectively
IFC proposes currency swap plan for Egypt
Private sector key to unlocking Egypt’s ‘long-term economic potential’, says Jin-Yong Cai, International Finance Corporation CEO
In Egypt, it helps to have the ‘right’ parents
By Farah Halime, Rebel Economy Circumstances beyond our control, including our parents’ job titles, have become more important in deciding the fate of young Egyptians in the job market, World Bank data shows. The type of job a young person ends up with is heavily influenced by the occupations of their parents, underscoring the inequality …
Ministry of Finance launches ten new PPP projects
Public-private partnerships expected to provide Government with new mechanisms to attract foreign investments
World Bank invests $250m, creates 250,000 jobs in Egypt
The project targets those who are incapable of finding a job, and labourers
Egypt: Health sector looks for private help
However, while advances have been made in basic public health, further expansion will require greater investment from both the state and private industry, if the country is to address challenges weighing on the sector
Government took loans to improve potable water, people scream
World Bank $450m loan and $6.7m endowment is simply not enough to improve water and sanitation networks, says economic expert
Qandil asks WB to help with railway system
World Bank stresses importance of supporting Egypt, Qandil pushes for railway funding
IFC to invest $6m in ‘Fawry’
The investment in ‘Fawry’ the electronic payment provider, will be used to extend the network of payment terminals across the country
New railways this year
Egypt’s railway system is set to build new lines next march, at a cost of $600m, funded by the World Bank
Regional insolvency conference: Egypt is at a critical juncture
The three-day-regional conference provided participants with an opportunity to discuss the challenges of reforming the insolvency laws across the region
World Bank to provide historic loan to Myanmar
Aid provided falls within “technical assistance” currently allowed by United States after it lifted many sanctions
Egypt Discusses a New Loan with the World Bank
By Mohamed Salah The Egyptian government has started negotiating loan with the World Bank to finance the privatisation and restructuring of the public sector. The former International Monetary Fund’s assistant managing director, Dr. Fakhry El-Fekky, said the government may have to continue the privatisation process started by the previous governments. He said there are indicators …
World Bank blames occupation for suffering Palestinian economy
PA faces multimillion dollar budget gap
Bleak future for Gaza
Gaza will not be livable, unless drastic actions are taken, says the UN
World Bank: Palestinian economy “not strong enough” for independence
Report shows the Palestinian private sector has been impeded by devastating restrictions set by the Israeli government
World Bank to subsidie Egyptian pharmaceutical exports
The International Bank for Reconstruction and Development (IBRD) agreed to subsidise Egyptian pharmaceutical companies so that their products can reach European and American markets
South Sudan joins IMF, World Bank
By AFP WASHINGTON: South Sudan, the world’s newest nation, joined the World Bank and the International Monetary Fund on Wednesday, becoming the sister institutions 188th member. IMF chief Christine Lagarde welcomed South Sudan to the fund, saying “the IMF will do its best to assist the country in setting up the foundations for economic stability …
World Bank picks American health expert Kim as president
By Lesley Wroughton /Reuters WASHINGTON: The World Bank on Monday chose Korean-born American health expert Jim Yong Kim as its new president, maintaining Washington’s grip on the job and leaving developing countries questioning the selection process. Kim, 52, won the job over Nigeria’s widely respected finance minister Ngozi Okonjo-Iweala, with the support of Washington’s allies …
Obama’s blunder at the bank
By Jagdish Bhagwati NEW YORK: The selection of a successor to Robert Zoellick as President of the World Bank was supposed to initiate a new era of open meritocratic competition, breaking the traditional hold that the United States has had on the job. Indeed, Zoellick’s own appointment was widely regarded as “illegitimate” from that perspective. But …
IFC helps educator build schools across Egypt
CAIRO: IFC, a member of the World Bank Group, is lending the Cairo Investment and Real Estate Development company (CIRA) up to $15 million to help the firm build primary and secondary schools across Egypt, according to a statement. The funding support from IFC will enable CIRA, a provider of kindergarten through grade 12 instruction, …
What should the World Bank do?
By José Antonio Ocampo NEW YORK: I have been honored by World Bank directors representing developing countries and Russia to be selected as one of two developing-country candidates to become the Bank’s next president. So I want to make known to the global community the principles that will guide my actions if I am elected — …
Whose World Bank?
By Joseph E. Stiglitz NEW YORK: US President Barack Obama’s nomination of Jim Yong Kim for the presidency of the World Bank has been well received — and rightly so, especially given some of the other names that were bandied about. In Kim, a public-health professor who is now President of Dartmouth University and previously led …
World Bank head says US leadership still key
By Ravi Nessman / AP NEW DELHI: Amid a global debate about who should succeed him as World Bank president, Robert Zoellick said Friday that it is important for US candidates to get top leadership roles in international institutions if the world wants to keep Washington supporting them. The 187-nation World Bank has been led by …
Breakthrough leadership for the World Bank
By Jeffrey Sachs NEW YORK: Last month, I called for the World Bank to be led by a global development leader rather than a banker or political insider. “The Bank needs an accomplished professional who is ready to tackle the great challenges of sustainable development from day one,” I wrote. Now that US President Barack Obama …
Developing nations to name two candidates for World Bank
By Lesley Wroughton / Reuters WASHINGTON: Nigerian Finance Minister Ngozi Okonjo-Iweala and former Colombian Finance Minister Jose Antonio Ocampo are set to be nominated to lead the World Bank, sources with knowledge of emerging market efforts to find candidates said on Tuesday. The candidacies of Okonjo-Iweala and Ocampo, who have credentials as both economists and diplomats …
Water deficit may cost Egypt $11 bln annually: World Bank
By Reem Abdellatif CAIRO: The world’s water deficit will grow to 200 billion cubic meters (BCM) per year by 2050, and may cost Egypt $11 billion annually, a World Bank official said. “Closing this deficit will be a significant challenge, costing the world $104 billion per year, while costing Egypt alone $11 billion per year,” Bekele …
IEG evaluates World Bank response to financial crisis
By Amir Makar CAIRO: In spite of facing some macro-economic hurdles, countries that were better prepared to engage in the World Bank’s crisis-related financial sector operations were less affected by the global financial crisis, according to a recent report by the Independent Evaluation Group (IEG). IEG, which reports directly to the World Bank Group’s boards of …