As the World Bank and the International Monetary Fund (IMF) hold their Spring meetings in Washington, DC, billions of dollars due to African nations are illicitly leaving the continent. Africans Rising for Justice, Peace and Dignity, an emerging pan-African citizens’ movement, condemns the World Bank’s and IMF’s lack of action on and complicity in illicit financial flows from Africa and calls on them, as well as African governments and regional bodies, to act to #StopTheBleeding of African wealth now. According to the Economic Commission for Africa, illicit financial flows from…Read More
Lilongwe. February 14: The World Bank has assured of assisting the country with US$50 million to help in maintaining areas that were affected by floods.
Minister of Finance, Goodall Gondwe said,’’ The Bank decided to help the country having considered the diverse impact of the flooding and the desperate need for a quick response.’’Read More
The World Bank said its board approved $340 million of financing for a hydroelectric project intended to provide electricity to 62 million people in Rwanda, Tanzania and Burundi. The Regional Rusumo Falls Hydroelectric Project has a total cost of $468.6 million and will eventually have generation capacity of 80 megawatts, according to a statement released today by the Washington-based bank. Each country is getting $113.3 million from the bank’s International Development Association unit, which offers zero-interest loans and grants to the poorest countries, it said. The so-called run-of-the-river project aims to…Read More
By: Jennifer Fierberg Holding too much information and working closely with the government in Rwanda can be a lethal combination. This was evidenced again on Monday when the body of Theogene Turatsinze was found after having been missing since Friday night in Mozambique. Sources held report that he had been abducted by unknown assailants and was never seen alive again. The cause of his death has been unofficially declared as drowning but the official cause of death is still being investigated. His hands were found bound behind his back and…Read More
Malawi, strung in a web of economic and political woes, could finally realise better times should an offer by the World Bank’s (WB)African Regional Director of Economic Management, Marcel Giugelo, could pass through. The Country Director responsible for Malawi, Zambia and Zimbabwe, Kundlavi Kadiresan, also said.Read More
They call the Third World the lazy man’s purview; the sluggishly slothful and languorous prefecture. In this realm people are sleepy, dreamy, torpid, lethargic, and therefore indigent—totally penniless, needy, destitute, poverty-stricken, disfavored, and impoverished. In this demesne, as they call it, there are hardly any discoveries, inventions, and innovations. Africa is the trailblazer. Some still call it “the dark continent” for the light that flickers under the tunnel is not that of hope, but an approaching train. And because countless keep waiting in the way of the train, millions die and many more remain decapitated by the day.Read More
WASHINGTON, November 28, 2011—As the United Nations conference on climate change opens in South Africa, a new World Bank study demonstrates that women, when fully empowered, can be an important force for change as countries and citizens grapple with the impacts of climate change and prepare to adapt to them.Read More