Browsing: International Development Association (IDA)

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Infrastructure, is one of the most critical enablers of a successful regional integration.

This is because infrastructure is vital in facilitating activities such as trade, agriculture, tourism and the movement of labour and other resources.

It is in this breath that the World Bank has provided $425 Million to Support the Provision of Infrastructure Financing in Eastern and Southern Africa.

The funds provided through the International Development Association (IDA) will be channeled towards the support of the provision of infrastructure finance in Eastern and Southern Africa. The Regional Infrastructure Financing Facility project (RIFF) aims to expand long-term finance to private firms in selected infrastructure in the power sector, as well as in the transport, logistics and social sectors. This is the first regional facility of this kind in Africa.

According to a statement from the World Bank, Eastern and Southern Africa still suffers from ailing infrastructure, especially in the …

The World Bank gave $379 million to help balance and strengthen statistical systems in seven West African countries.

The seven countries include Cote d’Ivoire, Burkina Faso, Sierra Leone, Ghana, Cabo Verde, Togo and Liberia.

The project “Harmonizing and Improving Statistics in West Africa (HISWA)’ is funded by the International Development Association (IDA) credits and grants.

The project key objective is to strengthen the statistical systems of the participating countries, regional and sub-regional bodies, in order to help them balance, produce, distribute and enhance the use of core social and economic statistics.

With World Bank’s efforts to deepen regional integration in Africa, the funding will also support the Economic Community of West African States (ECOWAS) and the African Union (AU).

Also Read: Africa asks World Bank, EU and IMF for debt relief support

“High-quality and harmonised statistics are essential to support economic activity and regional integration as a way to address …

The World Bank Group gave $12 billion to help countries that are dealing with the health and economic effects of the global outbreak of coronavirus.

As coronavirus reaches more than 60 countries in the world, World bank’s financing is designed to help it’s member countries take constructive action to respond and reduce the tragic effects caused by the virus where possible.

Through this new package, the World Bank Group will help developing countries strengthen health systems, by bettering access to health services to protect people from the virus, strengthening the virus surveillance, improving the public health interventions and to reduce the impact on economies by working with the private sector.

To support country-based responses, World Bank’s financial package will be globally coordinated with financing drawn from across International Bank for Reconstruction and Development (IBRD), International Development Association (IDA) and International Finance Corporation (IFC).

Through the coronavirus support package, initial crisis …

The World Bank approved two grants worth $160 million from the International Development Association (IDA) to help Burundi improve essential services through solar power and local development in rural and remote areas.

Solar Energy in Local Communities (SOLEIL) will get $100 million in subsidies which aims to increase access to energy in Burundi by almost 100 per cent by electrifying schools, businesses, families and centres of the less privileged communities in the country.

More than 91,000 households, 4,000 SMEs, 400 health centres and 500 schools will have access to electricity all du to solar energy. 400 schools and 300,000 households will also have ecological fireplaces.

The remaining $60 million from the IDA will go to Integrated Community Development. The project will improve access to basic services and economic opportunities and nutrition for the less privileged populations in the country, including refugees. The project will also allow the creation of 1,000 …

The World Bank Board of Directors has approved a US$750 million (Ksh75.9 billion) International Development Association (IDA) credit for Kenya, in the latest move by the global lender to channel funds to the East Africa State.

A member of the World Bank Group headquartered in Washington D.C, IDA is an international financial institution which offers concessional loans and grants to the world’s poorest developing countries

The loan comes amid concerns over the country’s ballooning public debt which crossed the Ksh5.1 trillion (US$50.4 billion) mark in September 2018, with possibilities of going Ksh5.6 trillion (US$55.4 billion by close of the year.

READ:Tough times: Kenya piles Kshs 2.5 billion debt in a day

On Tuesday, Central Bank of Kenya (CBK) governor Patrick Njoroge said the country’s headroom for new borrowing has shrunk since it tapped the US$2.1 billion Eurobond earlier this month, which part of it has gone towards debt refinancing.…