Tag: World Bank

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South Africa’s Eskom explores World Bank backing for multibillion-dollar nuclear build

Eskom explores World Bank support for a multibillion-dollar nuclear project aiming to add up to 5,200 megawatts to South Africa’s power grid.

Omokolade Ajayi Omokolade Ajayi
Nairobi, Kenya's capital city.
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Kenya targets $150 billion biodiversity financing in UN-backed plan

Kenya plans to mobilize up to $150 billion in biodiversity financing over a decade under UN-backed BIOFIN alongside a $500 million green bond push.

Omokolade Ajayi Omokolade Ajayi
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Kenya plans $500 million debut green bond as Iran war shakes economy

Kenya plans a $500 million green bond with World Bank support as oil price shocks and global tensions pressure its economy and financing.

Omokolade Ajayi Omokolade Ajayi
Angola seeks AfDB loan as oil supports growth amid debt pressure
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Angola seeks AfDB support as oil cushions impact of global shocks

Angola is seeking fresh support from the African Development Bank as it works to steady its finances in a volatile global environment, even as stronger oil prices offer some relief.  The government is in talks for a $165 million budget support loan, part of a wider plan to raise about $1 billion from external sources this year. Officials say the…

Oluwatosin Alao Oluwatosin Alao
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Kenya scrambles for World Bank rescue as Iran war shakes economy

Kenya seeks World Bank support as Iran conflict-driven oil prices strain inflation, currency stability and economic growth outlook.

Omokolade Ajayi Omokolade Ajayi
World Bank backs Morocco with $500 million to boost jobs, clean energy
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World Bank backs Morocco with $500 million to boost jobs, green growth

The World Bank has approved a $500 million financing package for Morocco, deepening support for job creation and green growth as the country pushes ahead with economic reforms.  The funding comes as officials face rising pressure to address youth unemployment and bring more women into the workforce, while also strengthening Morocco’s position in renewable energy and manufacturing. It reflects a…

Oluwatosin Alao Oluwatosin Alao
Mozambique clears $701 million IMF debt as African nations cut borrowing
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Mozambique clears IMF debt as African nations cut foreign borrowing

Mozambique has fully repaid its $701 million debt to the International Monetary Fund, a rare move among African economies working to ease pressure from external borrowing and tighten public finances.  The payment, disclosed in a research note by Standard Bank, clears Mozambique’s balance with the Washington-based lender and brings an end to its outstanding obligations. It also led to the…

Oluwatosin Alao Oluwatosin Alao
World Bank funding for Egypt Housing plan to hit $1 billion by 2026
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World Bank expands Egypt affordable housing fund to $1 billion

Egypt is expanding its push to provide affordable housing, backed by deeper support from the World Bank Group. The lender is increasing its total financing for the government’s “Housing for All Egyptians” program to $1 billion, reinforcing a project that has helped reshape the country’s mortgage market over the past decade.  The additional funding comes as demand for low-cost housing…

Oluwatosin Alao Oluwatosin Alao
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Clean energy push could unlock 32,000 jobs in Mauritius by 2030

World Bank report says clean energy and ocean investment could create 32,000 jobs in Mauritius by 2030.

Omokolade Ajayi Omokolade Ajayi
Next reform phase targets jobs, smarter spending and stronger social impact
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Egypt, World Bank push funding, reforms to drive national growth

Egypt is seeking fresh funding and faster reforms as it works to steady its economy and restore growth, deepening ties with the World Bank at a sensitive time for Africa’s third-largest economy.  The talks in Cairo come as governments across emerging markets contend with higher borrowing costs, tighter global liquidity and pressure to protect vulnerable households. For Egypt, officials say,…

Oluwatosin Alao Oluwatosin Alao