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International Organizations World Bank

  • NAIROBI, April 12- The World Bank cut Kenya's economic growth forecast for this year by half a percentage point on Wednesday to 5.5 percent, citing drought, sluggish private sector credit growth and rising prices of oil. In its latest report on the Kenyan economy, the World Bank said growth would pick up after this year, driven by the expected normalisation of...

  • NAIROBI, April 12- The World Bank cut Kenya's economic growth forecast for this year by half a percentage point on Wednesday to 5.5 percent, citing drought, sluggish private sector credit growth and rising prices of oil. In its latest report on the Kenyan economy, the World Bank said growth would pick up after this year, driven by the expected normalisation of...

  • DAR ES SALAAM, April 11- Uncertainty over government policies and a slowdown in the private sector cut Tanzania's gross domestic product growth to an estimated 6.9 percent in 2016 from 7.2 percent the previous year, the World Bank said on Tuesday. "Policy adjustments, if they occur frequently, could cause uncertainty for the private sector, and this uncertainty...

  • As well as meeting President Donald Trump, Sisi will see the top officials at the World Bank and International Monetary Fund, where he will pitch for help with his countrys' ailing ecoomy. Egypt has long been one of Washington's closest allies in the Middle East, receiving $1.3 billion in U.S. military aid annually. During his visit, Sisi is will also be meeting with...

  • ABUJA, March 29- Nigeria's central bank has approved a licence for the Development Bank of Nigeria, the finance ministry said on Wednesday. The development bank has $1.3 billion in seed money provided by the World Bank, African Development Bank and German state bank Kfw, the finance ministry said on its Twitter feed. The ministry has previously said that 50...

  • ABUJA, March 29- Nigeria's central bank has approved a license for the Development Bank of Nigeria, the finance ministry said on Wednesday. The development bank has $1.3 billion in seed money provided by the World Bank, African Development Bank and German state bank Kfw, the finance ministry said on its Twitter feed. The ministry has previously said that 50...

  • ABUJA, March 29- Nigeria's central bank has approved a licence for the Development Bank of Nigeria, the finance ministry said on Wednesday. The bank aims to support small-scale businesses as the country contends with its first recession in 25 years. It has a commitment from the World Bank for $1.3 billion in seed money.

  • ABUJA, March 29- Nigeria's central bank has approved a license for the Development Bank of Nigeria, the finance ministry said on Wednesday. The bank aims to support small-scale businesses as the country contends with its first recession in 25 years. It has a commitment from the World Bank for $1.3 billion in seed money.

  • CARACAS, March 27- A U.S. court has upheld an award by a World Bank Tribunal that orders Venezuela to pay more than $1 billion to Canadian mining company Crystallex, paving the way for the firm to seize assets for the 2008 expropriation of the Las Cristinas gold project. The tribunal known as the International Centre for Settlement of Investment Disputes last year...

  • ABUJA, March 24- The World Bank said on Friday it has approved a $200 million loan to Nigeria to support the government's effort to boost small and mid-scale farmers. Nigeria slipped into its first recession in 25 years last year, brought on by low prices for its mainstay, crude oil. Nigeria spends $20 billion a year importing food.

  • President Donald Trump speaks during a meeting with the Congressional Black Caucus Executive Committee in the Cabinet Room at the White House March 22, 2017 in Washington, DC.

    An Asian Development Bank vice president, Stephen Groff, tells CNBC the multilateral lender is not 'hyperventilating' over President Donald Trump.

  • TORONTO, March 21- Canada's main stock index barely rose on Tuesday as some heavyweight banking stocks and miners notched gains and Ivanhoe Mines Ltd jumped after announcing a copper deposit discovery. The world's largest gold producer said a World Bank arbitration tribunal had ruled in favor of it and joint venture partner Antofagasta plc over a copper...

  • BEIJING, March 21- The World Bank's newly appointed chief executive gave a spirited defence of globalisation during her first official visit to China, saying it had helped richer and poorer countries, and economic integration made it hard for any nation to walk away. Kristalina Georgieva, a Bulgarian who took up her post at the multilateral development lender...

  • BEIJING, March 21- The World Bank's newly appointed chief executive gave a spirited defense of globalization during her first official visit to China, saying it had helped richer and poorer countries, and economic integration made it hard for any nation to walk away. Kristalina Georgieva, a Bulgarian who took up her post at the multilateral development lender...

  • Open economies create benefits for all: World Bank CEO

    Kristalina Georgieva, CEO of the World Bank, says the few who oppose globalization are louder than the many who support open trade.

  • An employee walks outside the World Bank headquarters in Washington, United States.

    The global economy has not recovered the growth trajectory it had before and globalization is the booster the the world, and U.S., needs, World Bank says.

  • WORLD BANK DISBURSES SECOND $1 BILLION TRENCH TO EGYPT FROM $3 BILLION LOAN PROGRAM- STATEMENT.

  • CARACAS, March 9- A World Bank tribunal's order for Venezuela to pay $1.4 billion in damages to Exxon Mobil Corp over nationalizations has been annulled, a lawyer for the Venezuelan government said on Thursday. Venezuela had challenged the 2014 award with various arguments, including that a previous decision from Paris- based International Chamber of...

  • CARACAS, March 9- A World Bank tribunal's order for Venezuela to pay $1.4 billion in damages to Exxon Mobil Corp over nationalizations has been annulled, a lawyer for the Venezuelan government said on Thursday. Venezuela had challenged the 2014 award with various arguments, including that a previous decision from Paris- based International Chamber of...

  • TEGUCIGALPA, March 8- Supporters of a lawsuit filed in the United States on Wednesday against a unit of the World Bank alleging complicity in deadly land disputes in Honduras said they hope the litigation will help recover lost territory. The lawsuit was filed by Earth Rights International against the International Finance Corporation, a member of the World...