The International Monetary Fund (IMF) on Tuesday approved a $2.5bn loan for Sudan, and with the World Bank sealed a landmark deal that unlocks nearly $50bn in debt relief for the impoverished African nation. The announcement came after the IMF finalised an agreement with 101 donor countries allowing Sudan to[…]
Poverty in the occupied West Bank may double as Palestinians are hammered by the economic fallout of the coronavirus pandemic, the World Bank warned on Monday. The Palestinian territories have seen low infection rates after authorities acted quickly to curtail the spread of COVID-19, with three deaths from 450 cases[…]
The World Bank said, on Wednesday, that Palestinian economy is now facing a “severe fiscal shock” due to the tax revenues issue with Israel, calling for a speedy resolution. The published report, prepared by the World Bank, is due to be presented to the Ad Hoc Liaison Committee (AHLC) at[…]
The Palestinian Authority has notified Israel that it will no longer pay for the electricity Israel supplies to Gaza, as the World Bank warned of power outages deepening a humanitarian crisis. The move could lead to a complete power shutdown in Hamas-ruled Gaza, and cut off medical services and water[…]
Constant fuel shortages and insufficient infrastructure have brought about a “humanitarian crisis” for Palestinians in the Hamas-ruled Gaza Strip, the World Bank said on Thursday. In a report ahead of an international donor conference next week, it said Thursday that foreign aid alone cannot rescue the stagnant Palestinian economy without[…]
The World Bank announced on Tuesday it will release $300 million in loans to help facilitate the labour market for Syrian refugees in Jordan. The funds will be used to attract investors and create reforms that will help grant access to the Syrian labour force, the Bank said in a[…]
The leaders of five emerging market powers said at a summit Tuesday that they agreed to create a development bank worth $100 billion that will have its headquarters in China. The first president of the New Development Bank will be from India and the position will rotate every five years[…]
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