MANILA: The Asian Development Bank has launched a new multi-partner trust fund with about $25 million in initial backing to accelerate preparation of cross-border energy and transmission projects in Southeast Asia. The new vehicle, called the...
The World Bank has released its projection stating that the United Arab Emirates (UAE) is expected to experience a robust growth of 4.8% in its non-oil sector in 2023, contributing to an overall GDP growth...
World Bank Group President David Malpass and IMF Managing Director Kristalina Georgieva will launch the 2023 Spring Meetings in Washington, D.C. with a discussion on the complex challenges facing the global economy. The meetings will...
US President Joe Biden nominated former Mastercard CEO Ajay Banga to lead the World Bank, crediting his experience with global challenges such as climate change. David Malpass, a Trump appointee, announced last week that he...
Turkey will receive $1.78 billion in relief and recovery financing from the World Bank. This is as it deals with the aftermath of an earthquake that killed over 20,000 people and left hundreds of thousands...
Considering India’s increased resilience to global shocks, the World Bank raised its GDP growth forecast for FY23 to 6.9%. In its India Development Update, the World Bank stated that the revision was due to the...
Indian Finance Minister Nirmala Sitharaman said the Indian economy will grow at 7.4 percent this fiscal year and next. International Monetary Fund (IMF) and World Bank projections for India’s growth for the next two fiscal years...
During a conference in Tunisia this weekend, Japan will pledge $30 billion in aid for African development, the Sankei Shimbun reported on Friday. During the Tokyo International Conference on African Development (TICAD), Prime Minister Fumio...
To build a climate resilient and low-carbon economy, Vietnam needs to invest approximately $368 billion between now and 2040, according to the World Bank’s Vietnam Country Climate and Development Report (CCDR). World Bank Group’s Vietnam...