Finance & Economics | WPN World People News

The World Bank’s Board of Executive Directors on February 9, approved $55.25 million in grants to support the Geothermal Energy Upstream Development Project in Indonesia, which aims to facilitate investment in geothermal power generation in the country.

An International Monetary Fund (IMF) team led by Mr. Alejandro Werner, Director of the Western Hemisphere Department, and Mr. Lorenzo Figliuoli, IMF mission chief for Costa Rica, on February 8 met with Costa Rican authorities in Washington to discuss the country’s economic prospects and fiscal policy. The authorities were represented by Costa Rica’s Vice President, Mr. Helio Fallas; Central Bank Governor, Mr. Olivier Castro; and Costa Rica’s ambassador to the U.S., Mr. Román Macaya.

The World Bank and the International Road and Transport Union (IRU) have jointly released a new guide on Road Freight Transport Services Reform that shows how efficient trucking facilitates trade, reduces poverty and generates prosperity. Key conclusions highlight the importance of the driver, condition of vehicles, technical inspections and business-enabling regulation.

On February 7, the World Bank launched its new Economic Update for Uganda, titled “Step by step - Let’s solve the finance puzzle to accelerate growth and shared prosperity”. It shows the country has made great strides in expanding the financial sector with more than half the adult population accessing formal and regulated financial services. This is thanks in part to the rising growth of mobile money and opening of a credit reference bureau in 2008. About 8 million adult Ugandans own a bank account.

An EU scheme offering member states technical help – such as expertise, studies, and working visits - with structural reforms needed to boost growth and jobs was informally agreed upon by MEPs and Council negotiators on Wednesday. The €142.8 million Structural Reform Support Programme would run until 2020. The deal still needs to be endorsed by Parliament as a whole.

Improving agriculture regulations in low and middle income countries could go a long way toward feeding the world’s growing population and improving farmers’ livelihoods around the world, says the latest edition of the World Bank Group’s Enabling the Business of Agriculture (EBA) 2017 report, released on February 7.

“The Tunisian economy has remained resilient in a difficult domestic and international environment. Growth is expected to pick up to 2.5 percent in 2017 from 1.3 percent in 2016, supported by improved confidence following the successful “Tunisia 2020” conference in November and the adoption of crucial private-sector legislation.