World Bank Stories
The project is being supported by EIB Global, the development arm of the European Investment Bank and Germany’s development agency GIZ.
Somalia's domestic revenue, which comes second as the country's source of resources, has over the years remained low, with the World Bank now urging r...
The report notes that Africa has seen little improvement since the mid-2010s, with the region now home to more than 60 per cent of the world’s extreme...
The World Bank adds that in the early 2000s, Africa enjoyed strong economic growth driven by high commodity prices and a surge in foreign capital infl...
FDI inflows to emerging markets and developing economies (EMDEs) have weakened steadily as a share of their GDP since the global financial crisis
Data from the Kenya National Bureau of Statistics shows that 782,300 new jobs were created in 2024, a drop from 848,100 the year before.
Ideally, this means a person will now be considered poor if he or she lives on less than $3.00 per day, up from the previous $2.15.
The projection also represents a significant cut from its earlier forecast of 5.0 per cent growth made in January.
The initiative, comprising three key pillars, aims to strengthen Tanzania's economic resilience and enhance its technical, financial and institutional...
The government now plans to borrow Sh591.9 billion from the local credit market to bridge a Sh876.1 billion budget deficit in the financial year start...
Ruto emphasised that it aims to support at least 70 youths per ward across the country by providing grant funding, business training, and market linka...
The lender argues that taxing these items would expand fiscal space without burdening the poor, as they form a minor part of low-income households’ sp...
However, the Bank strongly recommends imposing the tax on fuels at the point of entry into the country, saying this would better reflect the true soci...
When travelling abroad, especially to the United States, civil servants receive about $513 (Sh66,317) daily, a figure the World Bank says needs urgent...
The World Bank indicated that inefficiencies in payroll management, excessive allowances and unchecked staff expansion, particularly at the county lev...
A recent World Bank report states that the 2.75 per cent SHIF payroll deduction places a financial strain on low-income workers and small businesses.
The lender highlights the narrowing room for manoeuvre in the country’s budget, driven by ballooning debt servicing costs, persistent revenue shortfal...
World Bank pegs the shortfall to the occurrence of political violence on the continent, which increased about eightfold between 2000 and 2023, and wit...
The inspection team urged local communities to form leadership committees to oversee the proper utilisation of the facilities, which are expected to b...
However, despite the anticipated fall, the lender notes that prices will remain higher than pre-Covid levels, reflecting ongoing supply chain challeng...
Ethiopia opted to restructure its external debt under the G20's Common Framework in 2021, before it defaulted on its sole Eurobond in December 2023.
The plans would be the first known instance of Saudi Arabia providing financing for Syria since Islamist-led rebels toppled former leader Bashar al-As...
The World Bank's support covered crucial aspects such as blood collection, testing for infectious diseases, processing blood components and digitalisi...
As some Kenyans, mostly the youth, criticise Ruto for making yet another promise, which they doubt he will keep, others have printed t-shirts with ill...
Ideally, when agricultural, cereal and export price indices increase, it often signals a rise in the cost of essential food commodities like grains an...
The continent has the highest number of people without access to electricity globally and is racing to connect homes to power by 2030 under a plan dub...
Additionally, the lender highlights that the region has also made slow progress in expanding the ranks of its middle class, additionally stating that...
