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...

The World Bank on Thursday approved a record $500 million in grants and low-interest loans to help countries in Africa and the Middle East fight swarms of desert locusts...

Jordan has topped a list of countries which appear to have siphoned large sums of foreign aid into offshore bank accounts, World Bank analysis shows. In 2018-19, Jordan received £2.13 billion...

The World Bank approved $50 million in financing for Egypt as an emergency response to help the country confront COVID-19, according to a World Bank press release issued on...

The World Bank has approved an immediate $14 million grant as part of a multiphase programme to develop the energy sector in Palestine. A further $49 million is set...

The World Bank has approved a $100 million loan to Turkey to support its efforts to fight COVID-19, the bank said on Friday. By implementing a project, the global...

The World Bank has frozen over $600 million in funding for Lebanon’s Bisri Dam project in order to launch a dialogue with citizens and civil society groups who oppose...

The World Bank has announced a grant worth $5.8 million for the Palestinian Authority (PA) in support for its battle against the coronavirus, Safa News Agency reported on Friday....

The World Bank and International Finance Cooperation have allocated $26.7m to help the Yemeni government’s fight against the coronavirus pandemic, it was reported on Monday. The grant was announced...

The World Bank has announced new financing for Egypt worth $500 million to support housing projects for low-income families. The bank said that the fund aims to support efforts to facilitate access to...

Israel has re-elected Benjamin Netanyahu, the leader of the right-wing camp, in a surprising result given the corruption charges against him and a forthcoming trial. Nevertheless, he duly went...

Oil market analysts must make sense of a bewildering array of statistics about production, consumption and inventories, compiled and published with varying definitions and degrees of accuracy and timeliness....

Thousands of projects have been disrupted due to poor planning as the protests continue, the Iraqi Prime Minister, Adil Abdul Mahdi, announced yesterday. “Some 5,000 national projects have not...

The World Bank (WB) yesterday said that it was ready to support the new Lebanese government as the country faces economic and social uncertainty. “Lebanon does not have the...

The Middle East and North Africa (MENA) region has only 5.2 per cent of its total electricity generation capacities, the World Bank said on Wednesday. The Bank added in...

Lebanon’s President Michel Aoun yesterday announced that 17 files on corruption had been referred to investigation. Aoun’s remarks came during his meeting with the World Bank (WB)’s regional director,...

Is Egypt's economy crashing?

The World Bank on Tuesday announced a $400 million grant to address the risks of potential famine and malnutrition in Yemen which have been dramatically increasing as a result...

The World Bank issued a report to announce prolonging cooperation with the Egyptian authorities until 2021, through establishing a strategic partnership to ensure more loans and assistance to Egypt....

A Jordanian aid convoy entered the besieged Gaza Strip this morning through the Israeli controlled Erez (Beit Hanoun) crossing. A foreign delegation also entered the Strip to access the...

Jordan is holding consultations with the World Bank to obtain a $1 billion loan as part of the kingdom’s efforts to reduce its debt burden and revive its struggling...

A senior Work Bank official said that wars that broke out between 2010 and 2018 in many Arab countries have caused at least $900 billion in lost economic opportunities....

Palestinian Authority (PA) President Mahmoud Abbas has met with the head of the World Bank to get unconditional funds for the Palestinians, Al-Watan Voice reported yesterday. According to Al-Watan...

Some 41.5 per cent of Tunisia’s workforce is employed in the parallel economy, a study conducted by the World Bank has shown. The results of the study, announced yesterday...

Lebanon has nominated investment banker Ziad Hayek as a candidate for president of the World Bank, mounting the first challenge to US President Donald Trump’s choice to lead the...

Palestinian Authority (PA) paid 25 per cent of the salaries of its employees in the Gaza Strip, sources said yesterday. The PA slashed the salaries of its employees in...

The Palestinian Ministry of Labour yesterday launched a job creation programme which will employ 5,000 unemployed between 18 and 34 years within three years, Safa news agency reported. The...

The World Bank is “confident” in Egypt’s economic reform measures, the bank’s CEO Kristalina Georgieva, announced yesterday, Reuters reports. “The World Bank is keen on continuing to support and assist...