World Bank

The World Bank blasted Lebanon's ruling class on Tuesday for "orchestrating" one of the world's worst national economic depressions due to their exploitative grip on resources, Reuters reports. The...

Lebanon has a confessional power-sharing system where representative numbers, political positions and power distribution are pre-determined among the religious groups in the country. There are 18 recognised religious communities...

Gaza is still suffering "from a particularly difficult economic situation with very high unemployment and deteriorating social conditions", the World Bank warned in a report this week. The report highlights the...

USAID and the International Cooperation Ministry has said that the US is giving Egypt seven grants worth $125 million to support education, health and other development projects. The news...

The World Bank has approved a $360 million development policy financing (DPF) loan to support Egypt's post-pandemic recovery, the lender said yesterday, Reuters reports. "To further support achievement of the...

Turkey is getting nearly $3.16 billion from abroad to spearhead its climate-friendly projects, the nation's president said on Thursday, and reported by Anadolu News Agency. "We will use $3.157...

The Palestinian government faces a major financial problem in public finances and debt, World Bank President David Malpass said yesterday. "I was in the West Bank a week ago....

On Tuesday, 12 October 2021, the World Bank said that governments around the world have responded to the Covid-19 pandemic by launching massive tax, monetary and fiscal stimulus packages....

Egypt ranks fifth worldwide in underreporting coronavirus and first in the Middle East, according to a report published by the World Bank. According to the report, Egypt's ratio of...

On a recent afternoon, Lebanese cryptocurrency trader Mario Awad was sorting out the details of a $2 million deal with a high-profile customer – complete with a hotel stay...

The World Bank said 6% of the North Africa population could be displaced by climate change, in its damning Groundswell II report. The report laid bare the extent of...

Lebanon's caretaker minister of social affairs today announced the launch of cash subsidy cards for 500,000 families saying that negotiations were under way for them to be partly funded...

Egypt's petroleum minister said today he hoped to export Egyptian gas as soon as possible to Jordan to generate power that will supply Lebanon, Reuters reports. The minister made his remarks...

About 70 per cent of Yemenis are at risk of starvation, the World Bank said yesterday, at a time when the country's gross domestic product (GDP) has halved since...

Some $485 million are urgently needed for the immediate and short-term recovery of Gaza, a World Bank report revealed yesterday. The report, which was conducted in partnership between the...

Iraq Basra Gas (BGC) consortium has signed a $360 million loan agreement with the World Bank's International Finance Corporation (IFC) to help it reduce gas flaring across the south...

Lebanon's caretaker prime minister today approved a proposal to finance fuel imports at the rate of 3,900 Lebanese lira to the dollar, instead of the previous 1,500 lira rate,...

The unemployment rate in Jordan has increased to 25 per cent in the first quarter of this year, compared to 22.7 per cent at the end of 2020. During...

IMF member countries have agreed to clear Sudan's arrears to the institution, France's president said yesterday, removing a final hurdle to the African nation getting wider relief on the...

The US Treasury Department announced today it provided bridge financing of around $1.15 billion to help Sudan clear its arrears at the World Bank. The department said in a...

Impoverished groups in Lebanon could soon receive more aid after a letter from international donors said on Wednesday there had been an agreement to hand out assistance in hard...

Israel will provide coronavirus vaccinations for 100,000 Palestinians who work in Israel or in its illegal settlements in the occupied West Bank. Israel will start administering the Moderna vaccines...

Lebanon received its first batch of the Pfizer-BioNTech vaccine - about 28,000 doses - this month with aid from the World Bank

The World Bank approved on Thursday the reallocation of $34 million to fund the procurement of Covid-19 vaccine for Lebanon, which is struggling to contain the number of coronavirus...

The World Bank has agreed to grant Morocco $250 million to support local agricultural, as part of a joint operation with the French Development Agency. This came in a...

The World Bank warned yesterday that more than half of Lebanese people will be poor by 2021 and criticised the local authorities' "deliberate lack of effective policy action" to...

The World Bank announced in a report that the Houthis' ban on the circulation of new banknotes in its areas of control has caused serious repercussions to the country's...

The World Bank has cancelled $224 million in funding for Lebanon's controversial Bisri dam project over the government's failure to fulfil "tasks that are preconditions to the commencement of construction",...

Kuwait, facing one of the worst economic crunches in the oil-rich state's history, posted an actual deficit of $18.44 billion in the 2019-2020 fiscal year, the Finance Minister said...

COVID-19 has been the severest blow dealt to the Kuwaiti economy since the 1990 Iraqi invasion, the World Bank (WB) warned yesterday. WB's Resident Representative for Kuwait, Ghassan Alkhoja,...

The Gulf state of Kuwait is the most dependent on revenues of fossil oil among the world countries, a recent report issued by the World Bank revealed, according to...

With Israel's planned annexation of the West Bank, in contravention of international law, only weeks away, the World Bank and the United Nations have issued stark warnings concerning the Palestinian...