WASHINGTON, D.C.: The World Bank IDA has secured a record $100 billion in funding to support development projects across 78 low-income countries. This landmark replenishment includes simplified policies, faster funding, and greater flexibility for client nations to shape their development paths. The announcement follows a year-long effort led by World Bank President Ajay Banga, who […]
WASHINGTON: The UAE’s economy is looking strong for the coming years, with the World Bank’s latest MENA Economic Update predicting a GDP growth of 3.3% in 2024 and 4.1% in 2025. The report, titled “Growth in the Middle East and North Africa,” also points out that the UAE will lead in real GDP per capita […]
The World Bank’s latest Global Economic Prospects report forecasts a steady rise in the UAE’s real GDP. In 2024, the GDP is expected to grow by 3.9%, with a further increase to 4.1% anticipated for 2025. This projection reflects an upward revision from the World Bank’s previous forecast in January 2024, where they estimated a […]
Washington: Many of the world’s poorest people are farmers who rely on their small, rain-fed family farms for sustenance. However, due to factors like drought and extreme heat, crops that once thrived now struggle for water. The World Bank emphasizes the importance of climate-resilient irrigation in a recent report titled “Transforming Lives Through Climate-Resilient Irrigation: […]
Washington: The World Bank has revised its projections for the UAE’s real GDP growth, anticipating a growth rate of 3.9% in 2024, up from the previous forecast of 3.7% made in January. In its latest economic update on the Middle East and North Africa (MENA) region, the World Bank also raised the UAE’s economic growth […]
Dubai: Her Highness Sheikha Manal bint Mohammed bin Rashid Al Maktoum, President of the UAE Gender Balance Council (GBC), President of the Dubai Women Establishment, and the wife of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court, lauded the UAE’s commitment to gender balance, noting that the […]
GENEVA / WASHINGTON: At its third meeting, the Multilateral Leaders Taskforce on COVID-19 (MLT) the heads of the International Monetary Fund, World Bank Group, World Health Organization, and World Trade Organization met with the leaders of the African Vaccine Acquisition Trust (AVAT), Africa CDC, Gavi, and UNICEF to tackle obstacles to rapidly scale-up vaccines in […]
WASHINGTON – World Bank Group announced a new Climate Change Action Plan which will increase climate finance, focus on climate results and impact, improve and expand climate diagnostics and reduce emissions and climate vulnerabilities in key systems. “I am pleased to announce that yesterday we presented to our Board the key elements of the World […]
The COVID-19 pandemic could trigger a debt crisis in some countries, so investors must be ready for granting some form of relief that could also include debt cancellation, World Bank President David Malpass was quoted as saying on Sunday. “It is evident that some countries are unable to repay the debt they have taken on. […]
