– Pakistan represents about 48% of people living in extreme poverty across the Middle East, North Africa, Afghanistan and Pakistan region. The World Bank reported the figure in its October 2026 regional economic update. The...
The international financial community maintains a highly positive outlook on the economic trajectory of the United Arab Emirates. Recent macroeconomic assessments published by the World Bank Group indicate that the sovereign state will experience robust...
The World Bank has approved $265 million to support Morocco’s Ifahsa Pumped Hydropower Storage Project, a 300-megawatt clean energy facility planned for the country’s north. The financing backs a major storage project designed to help...
The World Bank approved a US$700 million loan for Jordan to support private investment, job creation and economic reforms. The financing falls under the Jordan Growth and Competitiveness Development Policy Financing II program. It supports...
CAIRO: The World Bank Group has approved US$1 billion in new financing for Egypt to support private sector-led job creation, bolster macroeconomic and fiscal resilience, and advance measures tied to a greener economy, marking the latest multilateral backing...
WASHINGTON: The World Bank’s Board of Executive Directors approved US$225 million in grant financing from the International Development Association for Syria on April 23, allocating US$150 million for water services and US$75 million for health services. The financing...
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...