World Bank
Russia’s economic ties with China: A lifeline amidst sanctions
Russian President Vladimir Putin has denounced the Western sanctions imposed on Russia, terming them “discriminatory” and calling for a reform of the International Monetary Fund and the World Bank. In an interview with China’s Xinhua news agency, Putin emphasized the need for a new financial system based on “openness and true equity.” This statement comes […]
World Bank Shifts Focus to Dependable Energy Technologies
The World Bank is considering a shift in its energy investment strategy, prioritizing “dependable technologies” over “distortionary climate finance targets.” This potential change, suggested by US Treasury Secretary Scott Bessent, could lead to increased investments in gas and other fossil fuel-based energy production. Bessent praised the bank’s efforts to remove restrictions on supporting nuclear energy, […]
World Bank Lifts Loan Ban on Uganda Over Gay Rights Concerns
The World Bank has announced that it is lifting a ban on loans to Uganda, imposed two years ago after the country passed a law against LGBTQ people. The bank has introduced new “mitigation measures” to ensure funding does not harm or discriminate against LGBTQ individuals. According to the World Bank, these measures will enable […]
World Bank to approve $2.2bn loan for Nigeria this Year
It has been decided by the World Bank that the Federal Government of Nigeria will receive a total of $2.2 billion in fresh loans in the year 2025. According to the project list provided by the World Bank, the $2.2 billion will be disbursed among six distinct sorts of initiatives. For the “Community Action for […]