Tag Archives: World Bank

Kampala, Uganda | XINHUA | The World Bank said in a report Wednesday that digital technologies are critical in reviving Uganda’s economy, which has been hit hard by the COVID-19 pandemic. The international finance institution said in the latest edition of the Uganda Economic Update that the country’s economy this …

Kampala, Uganda | THE INDEPENDENT | Uganda’s dream to be an oil-producing country may not be realized until 2025, the World Bank has said. In its Economic Update report, the bank says “the sharp decline in world oil prices resulting from the COVID-19 crisis could delay oil sector investments in …

The World Bank is one of several multilateral lenders on the frontline of Africa’s emergency economic response to Covid-19. World Bank vice president Makhtar Diop shares his insights on how the Bank will help overcome an unprecedented crisis that has plunged Africa into a period of great uncertainty. What’s been your perspective of …

Kampala, Uganda | XINHUA | The World Bank has categorized Tanzania as a lower-middle income country after the country made economic reforms, including making consistent plans and taking hard decisions aimed at improving its economic development, a senior official said on Thursday. “Discipline in financial expenditure and the prevailing peace …

Washington, United States | AFP | Global economic growth could rebound next year but the number of people living in extreme poverty is expected to remain unchanged, the World Bank warned Tuesday. The projection came after the Washington-based development lender said Monday the coronavirus pandemic could drive between 70 and 100 million people into extreme …

Washington, United States | AFP | The global economy is facing “staggeringly large” losses and the recovery effort is hampered by a shortage of resources to make up for the damage caused by the coronavirus pandemic, World Bank President David Malpass said Tuesday. While the Washington-based development lender has rushed out …

  Djibouti IDA Credit: $6 million equivalent Maturity: 40 years    Grace: 10 years Ethiopia  IDA Credit: $31.5 million equivalent Maturity: 38 years    Grace: 6 years Kenya IDA Credit: $43 million equivalent Maturity: 30 years    Grace: 5 years Uganda IDA Credit: $48 million equivalent Maturity: 38 years    Grace: 6 years Kampala, Uganda | THE INDEPENDENT | The World Bank Group on Thursday announced that it has …

Kampala, Uganda | THE INDEPENDENT | Government has revised its proposal to borrow money to mitigate the effects of coronavirus by up to 1.3 trillion shillings. On April 2, the government presented a motion to borrow up to 1.7 trillion shillings to cushion the economy from the effects of COVID-19. …

Kampala, Uganda | THE INDEPENDENT | Uganda Development Bank -UDB will be placed under the watch of Bank of Uganda with the aim of strengthening it. UDB is 100 percent owned by the government and has been self-regulating, audited by the Auditor General and reporting to parliament to answer queries …

Entebbe, Uganda | THE INDEPENDENT | The World Bank has approved USD 148.2m (Shs 563bn) financing for Uganda to use to manage and restore its forests cover. The money according to the lender is also expected to have spillover benefits to forest dependent communities like refugees and their host communities. …