The World Bank has appointed Sahr Kpundeh as the new Country Manager for Rwanda, effective September 1, 2023. Based in Kigali, Kpundeh will lead the World Bank’s engagement in Rwanda, which includes an active lending portfolio, a vibrant knowledge partnership, and a dynamic dialogue with the Government of Rwanda and a wide range of stakeholders.
The introduction of the Sustainability Linked Bonds (SLBs) through local capital markets is expected to completely alter the regional financial landscape. By leveraging private funding with IDA/World Bank concessional finance, this innovative initiative aims to improve access to finance for Rwandan SME’s in the post-pandemic era. Through this bold approach, The Development Bank of Rwanda
The World Bank has supported Kenya’s efforts to widen the taxman’s reach in the digital marketplace. The lender says the measures are a step further in the country’s quest to widen its tax base and bolster domestic revenue mobilisation when raising financing from external sources. According to the multilateral lender, the introduction of Value Added
The World Bank Group’s International Finance Corporation and Multilateral Investment Guarantee Agency, have announced a $157.4 million equity investment to bring affordable, reliable internet and mobile services to millions more in Ethiopia. According to the IFC’s statement,the fund is part of the ongoing expansion of Safaricom Ethiopia’s telecom network, a landmark development expected to boost
The Mozambique Access to Financing and Economic Opportunities Project, also known as Mais Oportunidades, is a six-year (2023-2029) initiative funded by the International Development Association (*IDA), and was given a $300 million credit by the World Bank Board of Directors yesterday. Idah Z. Pswarayi-Riddihough, World Bank Country Director for Mozambique, Madagascar, Mauritius, Comoros, and Seychelles,
The Economic Community of West African States (ECOWAS) commission and the World Bank in collaboration with the West Africa Unique Identification for Regional Integration and Inclusion (WURI) Pilot Member States, have organized the 10th WURI Coordination Committee meeting. The meeting which was held virtually had the Project Coordinators and technical staff of all WURI Pilot Member
The World Bank pledges to support the Hustler Fund to lift Kenya’s most vulnerable group. This was made during a consultative meeting between President William Ruto and World Bank Regional Vice President for Eastern and Southern Africa, Victoria Kwakwa at State House Nairobi. World Bank Regional Vice President for Eastern and Southern Africa, Victoria Kwakwa
World Bank has approved a $250 million credit to support the Government of Madagascar to expand safety net services in country. This new project will be implemented over a period of four years and will target extremely poor households throughout all of the 23 regions of Madagascar while boosting the social protection system and promoting
Kenya is in talks with the World Bank Group for a fresh $750 million (Ksh92.1 billion) concessional loan to be secured before the end of June next year. This will be Kenya’s fifth loan under the World Bank’s Development Policy Operation (DPO) framework, which has seen the country access $3.25 billion (Sh399 billion at the
The World Bank Group’s new Country Climate and Development Report (CCDR) for Ghana estimates that at least one million more people could fall into poverty due to climate shocks if urgent climate actions are not taken. The Report also warned that if pre-emptive measures are not taken, incomes could reduce by up to 40% for
