World Bank Stories

Foreign direct investment inflows to developing nations fall to 18-year low, threatening job growth - report
Alfred Onyango  |  Jun 18, 2025

FDI inflows to emerging markets and developing economies (EMDEs) have weakened steadily as a share of their GDP since the global financial crisis

Bleak outlook as CBK reveals one in three firms won’t hire in 2025
Maureen Kinyanjui  |  Jun 18, 2025

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.

World Bank raises poverty line to $3 a day, pushing millions into ‘extreme poverty’ category
Alfred Onyango  |  Jun 12, 2025

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.

World Bank downgrades Kenya's GDP growth to 4.5 per cent in June projection
Alfred Onyango  |  Jun 11, 2025

The projection also represents a significant cut from its earlier forecast of 5.0 per cent growth made in January.

World Bank approves Sh38.9 billion to boost Tanzania’s disaster preparedness
Bashir Mbuthia  |  Jun 09, 2025

The initiative, comprising three key pillars, aims to strengthen Tanzania's economic resilience and enhance its technical, financial and institutional...

World Bank delays Sh96.9 billion loan to Kenya over anti-corruption law standoff
Maureen Kinyanjui  |  Jun 05, 2025

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...

Over 800,000 youths to benefit from Sh20 billion Nyota project- Ruto
Lucy Mumbi  |  Jun 01, 2025

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...

World Bank urges 16 per cent VAT on meat, wheat flour, avocado, coffee to boost Kenya’s revenue
Lucy Mumbi  |  Jun 01, 2025

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...

World Bank urges Kenya to implement fuel carbon tax for Sh40.5 billion revenue boost
Alfred Onyango  |  May 30, 2025

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...

World Bank flags wasteful spending on public servants’ travel allowances
Maureen Kinyanjui  |  May 29, 2025

When travelling abroad, especially to the United States, civil servants receive about $513 (Sh66,317) daily, a figure the World Bank says needs urgent...

Why Kenya risks losing billions if it ignores World Bank public sector reform recommendations
Lucy Mumbi  |  May 28, 2025

The World Bank indicated that inefficiencies in payroll management, excessive allowances and unchecked staff expansion, particularly at the county lev...

World Bank urges scrapping of SHIF deductions for low-wage workers, cites threats to UHC goals
Bashir Mbuthia  |  May 27, 2025

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.

World Bank warns of mounting fiscal pressure as Kenya faces debt distress risk
Alfred Onyango  |  May 27, 2025

The lender highlights the narrowing room for manoeuvre in the country’s budget, driven by ballooning debt servicing costs, persistent revenue shortfal...

World Bank: Africa risks missing growth dream amid rising conflict, fragile reforms
Alfred Onyango  |  May 14, 2025

World Bank pegs the shortfall to the occurrence of political violence on the continent, which increased about eightfold between 2000 and 2023, and wit...

Turkana to take over Sh2bn infrastructure project under Kenya–South Sudan Link Road Programme
Issa Hussein  |  May 11, 2025

The inspection team urged local communities to form leadership committees to oversee the proper utilisation of the facilities, which are expected to b...

Consumers to benefit from decline in global commodity prices, says World Bank
Alfred Onyango  |  May 10, 2025

However, despite the anticipated fall, the lender notes that prices will remain higher than pre-Covid levels, reflecting ongoing supply chain challeng...

Ethiopia expects preliminary deal on IMF review within days, finance minister says
Reuters  |  Apr 28, 2025

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.

Saudi Arabia, Qatar to settle Syria's outstanding arrears of around $15 million to World Bank
Reuters  |  Apr 27, 2025

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...

Kenya’s blood transfusion services face collapse as World Bank’s Sh2.7 billion support ends
Lucy Mumbi  |  Mar 31, 2025

The World Bank's support covered crucial aspects such as blood collection, testing for infectious diseases, processing blood components and digitalisi...

Ikuje Garre, iteremke Modogashe! What are the facts in Ruto's claimed road project?
Barack Oduor  |  Feb 20, 2025

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...

Consumers brace for tougher times as report shows global rise in food prices
Alfred Onyango  |  Feb 07, 2025

Ideally, when agricultural, cereal and export price indices increase, it often signals a rise in the cost of essential food commodities like grains an...

African nations seek to connect 300 million people to power by 2030
Reuters  |  Jan 28, 2025

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...

Africa is second most unequal region in the world - World Bank
Alfred Onyango  |  Jan 26, 2025

Additionally, the lender highlights that the region has also made slow progress in expanding the ranks of its middle class, additionally stating that...

Treasury report: China tops list of Kenya’s debt payments to external creditors
Lucy Mumbi  |  Dec 30, 2024

China received more in debt payments than multilateral lenders, including the World Bank and the African Development Bank.

Why digital goods make up a smaller share of imports in Africa -World Bank
Alfred Onyango  |  Dec 28, 2024

The global lender attributes the smaller import share of the essential commodities to high duties and taxes that consequently increase their cost.

Developing nations still off-track in poverty reduction - World Bank report
Alfred Onyango  |  Dec 24, 2024

Today, about 700 million people or 8.5 per cent of the global population, live in extreme poverty on less than $2.15 (Sh280) a day.

World Bank staff question Ethiopia debt assessment reached with IMF, memo shows
Reuters  |  Dec 24, 2024

The authors suggest that based on the DSA, Ethiopia is facing a short-term liquidity crunch, and not a long-term solvency issue, a point of contention...

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