WORLD BANK Archives - Page 2 of 2

WORLD BANK SUPPORTING RWANDA DEGRADED WETLANDS

Posted on March 10, 2020 by Gambeta News

Rwanda secure funds from World Bank for degraded wetlands improvement. World Bank will help restore degraded wetlands of Rwanda state capital Kigali. This state was made public by the Rwanda Environment Management Authority (REMA). According to REMA, the fund from World Bank will help restore Gikondo Industrial Zone which has increasingly been vacated by manufacturing plants. Speaking to the media, Engr. Coletha Ruhamya, REMA director-general said the new wetlands use a master plan that will…

WORLD BANK TO INVEST US$300M INTO GHANA COCOA INDUSTRY

Posted on August 14, 2019 by Gambeta News

World Bank making plans to invest in Ghana Cocoa industry. Cocoa is Ghana chief agricultural export and cash crop. This is why the World Bank is investing fund to help shore up production of the crop over the next five years. The project which is under the Cocoa Sector Value Chain Project will increase productivity levels of cocoa farmers as well as promote value addition. Meanwhile, farmer production level will increase from the current 300…

WORLD BANK ANNOUNCE NEW DIRECTOR FOR THREE AFRICA COUNTRIES

Posted on July 1, 2019 by Gambeta News

World Bank announce Pierre Frank Laporte as new country director for Ghana, Liberia and Sierra leone. Pierre Frank Laporte is the new country director for Ghana, Liberia and Sierra leone. According to the release, Pierre Frank Laporte who is from Seychelles, will be based in the World Bank’s Accra Office. The statement also reads that his appointment will takes effect from July 1, 2019. The new position will ensure that Laporte lead the Bank’s strategic…

HISTORIC DECISION FOR OIL PRICES IN MADAGASCAR

Posted on June 20, 2019June 20, 2019 by Gambeta News

Africa’s Young President negotiates lower oil prices in Madagascar. President Andry Rajoelina discusses with oil industry representatives to lower the market price of petroleum products. These discussion border around the need for a more affordable price that will be favourable for the economy. The Malagasy household depend on petroleum products for electricity, and transporting commodities. Despite local exploration activities, the country imports to sustain its nearly 25 million people. The lack of affordable product hampers…

KENYA REQUEST US$750M FROM WORLD BANK FOR DEVELOPMENT

Posted on May 28, 2019 by Gambeta News

Kenya Government request US$750million from World Bank for infrastructural developments Kenya Government has ask for fund from the world bank for development of different infrastructure. The fund will be use to provide affordable housing, agriculture and other projects. The request is worth US$750million. The request is the first time in more than a decade that Kenya has ask for loan from the bank. According to the project document on the bank’s website, the loan will…

NIGERIA DIASPORA REMITTANCES REACHES US$24bn

Posted on April 17, 2019 by Gambeta News

Remittances from Nigerian Diasporas hits US$24 billion in 2018 Remittances from diasporas of Africa’s most populated country – Nigeria in 2018 reached US$24.3 billion. This is the highest figure across Sub-Saharan Africa and it is also US$2 billion higher than the inflows in 2017. World Bank’s latest Migration and Development Brief shows that; last year (2018) immigrants sent US$46 billion to their home countries in sub-Saharan Africa. This is in fact a 10 percent increase when comparing…

WORLD BANK APPROVES US$40M GRANTS FOR GHANA TOURISM SECTOR

Posted on February 25, 2019February 25, 2019 by Gambeta News

Ghana receives grants from World Bank for its tourism sector development. World Bank has approved US$40m for Ghana’s tourism sector. This grant will help improve Ghana’s tourism sector as well as make it attractive to the entire globe. The grant will be for improving the facilities of various tourists sites in the nation. This sites includes Elmina Heritage Bay, Axim Fort St Antonio, Assin Manso Slave River; there will also be an upgrade of Tetteh Quarshie…

NACHTIGAL HYDROPOWER PLANT IN CAMEROON TO LIMIT CLIMATE CHANGE

Posted on February 12, 2019 by Gambeta News

Nachtigal Hydropower Plant in Cameroon will help limit climate change. On the 31st of January 2019, the World Bank Group via World Bank Africa tweeted; that it supports the construction of the Nachtigal Hydropower plant in Cameroon. Derivatives from the tweet suggests that; the 420 mega watts (MW) Nachtigal Hydropower project which will be a source of clean power generation in Cameroon; will also help avoid 40 – 60 million tons of carbon-dioxide (CO2) emissions…

UGANDA

Posted on February 6, 2019February 27, 2019 by Gambeta News

Construction of Namutumba Health Centre III kicks-off in Uganda The Construction of Namutumba Health Centre III in Uganda have begun. The project which is worth Shs500m is part of the World bank’s plan to grow the Ugandan health sector. The Namutumba Health Centre III will have a maternity ward, children, male and female wards and a toilet. The project has been greatly received by residents. There is also a sigh of relief among residents in Kagulu Sub-county as…

WORLD’S LARGEST SOLAR PARK TO BE UNVEILED IN EGYPT

Posted on January 24, 2019January 24, 2019 by Gambeta News

Egypt to unveil world’s largest solar park/farm this year. By mid this year 2019, Egypt expects to unveil its Benban solar park; which covers a 37.2 km2 (14.4 sq mi) area and will produce more than 4TWh of power once fully operational. The park consists of 41 power plants/stations and about six(6) million solar panels. When completed, the Benban park will be the world’s largest solar park or farm. It is worthy to note that the world’s first solar thermal…

CHAD TO RECEIVE US$125m SUPPORT FROM WORLD BANK

Posted on October 31, 2018 by Gambeta News

Chad to get US$125 million developmental support from World Bank To help support developmental projects in the Chad; World Bank have announced a US$125 million support for the Central African country. Acoording the the Bank, the support will two frameworks. The signatories for the support agreement were Chadian minister of economy, Issa Doubragne on behalf of the government and World Bank resident representative, François Nankobogo. The World Bank support will also provide budget support to…

NIGERIA GETS US$2.1bn LOAN FROM WORLD BANK

Posted on July 2, 2018 by Gambeta News

World Bank outlines US$2.1 billion concessionary loan for Key projects in Nigeria. The World Bank have approved a US$2.1bn project support loan for Nigeria. The loan is for the support of seven(7) key projects in the country. The projects includes nutrition, access to electricity, fiscal transparency of states, eradication of polio, and also women economic empowerment. It also includes public finance and national statistics and reduction of soil vulnerability to erosion. The World Bank have…

ROAD AUTHORITY COMPLEX IN NAIROBI 40% COMPLETE

Posted on November 17, 2017 by Gambeta News

Kenya government and world bank joint funds to build a road authority office complex in the state capital. The complex which is worth US $30m is a joint funding by the Kenya government and World Bank and is currently been developed by Chinese firm-Aviation Industry Corporation of China (AVIC). The office complex which sits on a nine-acre piece of land in Embakasi near the Jomo Kenyatta International Airport (JKIA) will occupies a gross floor area…

KENYA POWER SIGNS CONTRACT FOR LAST MILE CONNECTIVITY PROJECT

Posted on November 10, 2017 by Gambeta News

Second phase of Kenya’s Last Mile Connectivity Project (LMCP) begins. Kenya’s utility company, Kenya Power, have signed 23 contracts for the implementation of the government initiative termed Last Mile Connectivity Project (LMCP), which aims to connect the entire country to the national electricity grid. The project which is already in its second phase, is funded jointly by the African Development Bank (AfDB) and the World Bank. With AfDB providing 87% of the funds while World Bank…

FEMALE ENTREPRENEURS ARE MORE TAX COMPLIANT – LCCI

Posted on October 25, 2017 by Gambeta News

Lagos Chamber of Commerce and Industry (LCCI) commends female entrepreneurs for their resilience in tax compliance. Dr. Mrs Nike Akande, President, Lagos Chamber of Commerce and Industry, during the Chamber’s Women Group’s third annual conference themed, “Women as change agents: Towards tax compliant society,” commended female entrepreneurs for their irrepressible attitude and tenacity in remitting their taxes when due. She also commended the recognition given to women due to their unique role in poverty reduction and entrepreneurship…

WAEMU SECURE HOUSING LOAN FROM WORLD BANK

Posted on October 20, 2017 by Gambeta News

World bank give loan of US $155m to WAEMU for its housing development. West Africa economic and monetary union (WAEMU) has gotten an assistance from the world bank to help improve its housing. The west Africa regions include Benin, Burkina, Cote d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo is expected to have the housing shortage increase to a reasonable amount. World Bank Country Director for West Africa Regional Operations, Rachid Benmessaoud; ”That one dollar of IDA will…

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