United States President Joe Biden has nominated an Indian-American born Ajaypal Singh Banga as the next president of the World Bank. Biden nominated Banga on February 23 after the sitting WB boss David Malpass recently announced his intention to step down by the end of June
The global economy is projected to grow by 1.7% in 2023 and 2.7% in 2024, the World Bank has said. The sharp downturn in growth is expected to be widespread, with forecasts in 2023 revised down for 95 percent of advanced economies and nearly 70 percent
The World Bank estimates Kenya’s economy to grow by 5.5 percent this year, an upward revision from December estimates of 4.9 percent. “Notwithstanding the more adverse external economic environment, the growth projection for 2022 has still been upgraded to take into account the stronger than expected
Kenya will benefit from World Bank’s Ksh.3.4 trillion financing kitty that has been set aside to address food insecurity globally. It is part of the multilateral lender’s comprehensive, global response to the ongoing food security crisis. The financing will be focused on areas of agriculture, nutrition, social
World Bank is narrowing the global economic growth for 2022 from 4.1 percent to 3.2 percent, World Bank Group President David Malpass said Monday. The group is discussing the next-phase financing for Ukraine's reconstruction efforts this week, he added.
The World Bank cut its growth forecast for East Asia and the Pacific for 2022 to reflect the economic impact of Russia-Ukraine conflict, warning the region could lose further momentum if conditions worsen. The Washington-based lender said in a report on Tuesday it expected 2022 growth
Kenya has received a new Ksh.86 billion loan from the World Bank to help the country recover from coronavirus ravages. The credit attracts an interest of three percent and is the second of its kind from the multilateral lender’s credit facility commonly referred to as Development
The private sector arm of the World Bank, International Finance Corporation (IFC), has expressed interest to take part in financing the Nairobi-Mau summit highway. The project that is set to cost Ksh.180 billion will be among the first project that will be established on the basis
Rachel Mwangangi is getting ready to move into her dream home in Nairobi, within the first quarter of 2022. It is the culmination of a long and arduous journey for the single parent who works with county government and solely fends for her two children
Kenya is now at an advanced stage to get a fresh Ksh.23 billion from the multilateral lender, the World Bank. World Bank senior agriculture economist, Vinay Vutukru confirmed that there were talks with the government over the new loan that would be issued in 2023. Talks around
