Kampala, Uganda | THE INDEPENDENT | The government should create sufficient and quality jobs by accelerating a sustainable and inclusive economic transformation to resume the path of inclusive growth and poverty reduction, the World Bank Group’s 2021 Systematic Country Diagnostic (SCD) has recommended. According to SCD, the government should focus …
Read More »World Bank warns of rises in food, energy prices due to Russia-Ukraine conflict
Energy prices are expected to rise more than 50 percent in 2022 before easing in 2023 and 2024 Washington, U.S. | Xinhua | The Russia-Ukraine conflict has dealt “a major shock” to commodity markets, altering global patterns of trade, production and consumption, the World Bank (WB) said in a report released …
Read More »World Bank to fund Lira-Kamdini road construction
Kampala, Uganda | THE INDEPENDENT | The World Bank will fund the construction of the 78km Lira- Kamdini road. In January, President Museveni directed the government takes over funding for the road after the World Bank set stringent conditions on environmental and social impact studies. For instance, one of the conditions …
Read More »World Bank forecasts Sub-Saharan Africa’s economy to grow at 3.6 pct in 2022
Nairobi, Kenya | Xinhua | The World Bank on Wednesday projected the economy in Sub-Saharan Africa to slow down to 3.6 percent in 2022 from 4 percent in 2021. The World Bank said the region’s economy is struggling to pick up momentum amid a slowdown in global economic activity, continued supply …
Read More »EU, World Bank partner to support customary land reforms
Kampala, Uganda | THE INDEPENDENT | The European Union has provided 8 million euros (31.8 billion shillings) towards efforts aimed at eliminating injustices related to the land tenure systems in the country. The grant to be administered by the World Bank aims at strengthening land tenure security, land administration and land …
Read More »Delayed release of World Bank funds affects Kabarole projects
Kampala, Uganda | THE INDEPENDENT | The National Economy Committee which is monitoring the performance of a US$150 million World Bank loan under the Agricultural Cluster Development Project (ACDP) has discovered that Kabarole district has not received funding for most of its investment projects. Legislators doubtful of the intention of the Ministry …
Read More »Nearly 2.4 billion women globally don’t have equal economic opportunity: World Bank
Women globally still have only three quarters of the legal rights afforded to men Washington, U.S. | Xinhua | Around 2.4 billion women of working age globally are not afforded equal economic opportunity, the World Bank said in a report Tuesday. In 86 countries, women face some form of job restriction …
Read More »No impact from US$150m World Bank loan for agriculture – MPs
Kampala, Uganda | THE INDEPENDENT | Legislators on the Committee on National Economy have slammed the Ministry of Agriculture, Animal Industry and Fisheries for poorly utilising the US$150m loan borrowed to boost productivity and market for maize, rice, coffee, and beans in selected districts. The six-year loan, implemented with support from the …
Read More »World Bank says insect, hydroponic farming key to Africa’s food security
Nairobi, Kenya | Xinhua | Large-scale adoption of hydroponic and insect farming in Africa could be the answer to the continent’s hunger, poverty and ecological crisis, the World Bank said in a report launched in Nairobi on Wednesday. The report titled “Insect and Hydroponic Farming in Africa: The New …
Read More »Not yet time for Uganda’s lower-middle-income status
World Bank urges a more gender inclusive recovery at latest economic update Kampala, Uganda | ISAAC KHISA | Uganda’s growth is expected to be between 3.5% and 4.0% in Fiscal Year (FY) 22 and about 5.5% in FY23; both projections are about one percentage lower than the June 2021 forecast, …
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