Finance & Economics | WPN World People News

Tax officials from Kenya and Botswana have agreed to a landmark tax assistance project that marks the first South-South co-operation pact under the Tax Inspectors Without Borders programme.

The World Bank Group has added 16 new partners to the coalition of institutions that are committed to help achieve Universal Financial Access (UFA) by the year 2020. These new partners, in addition to the 14 that were announced at the 2015 Spring Meetings, bring to the coalition a deep knowledge of the marketplace, a proven ability to innovate, and a commitment to financial inclusion as a core component of their corporate missions.

The world has grown more violent over the last decade, interrupting a long-term trend of increasing peace and disproportionately impacting civilians. This is despite rising financial flows to the most vulnerable places, according to a new OECD report.

The World Bank’s Board of Executive Directors on November 30 approved US$5.95 million in funding for the Fiji Connectivity Project, which aims to reduce the cost and increase the availability of internet services in the Pacific Island nation.

An EU scheme offering EU member states technical help with structural reforms needed to boost growth and jobs was backed by the Regional Development Committee on Tuesday.

On November 28, the Ministry of Environment of the Slovak Republic, represented by László Sólymos, Minister of Environment, and the World Bank, represented by Tony Thompson, World Bank Country Manager for Bulgaria, Czech Republic and Slovakia, signed a new Reimbursable Advisory Service Agreement (RAS). The new RAS will assist the Slovak Republic in economic modeling for energy and climate policy, and contribute to the national 2050 Low Carbon Strategy.

An International Monetary Fund (IMF) mission led by Ernesto Ramirez Rigo visited Moscow during November 14–18, 2016, to discuss the economic outlook and related policies.

A new project designed to improve the productivity of dairy farms in the country will reach approximately 24,000 households. The World Bank’s Board of Executive Directors approved US$ 5 million in financing for the Kyrgyz Republic Integrated Dairy Productivity Improvement Project, on November 28. It is aimed at enhancing dairy animal productivity and milk quality on farms in the country’s Issyk-Kul region. US$ 2.75 million of the financing is a concessional credit, and US$ 2.25 million is a grant.

In 2014, the tax-to-GDP ratios of Indonesia, Malaysia, the Philippines and Singapore were below 17% of GDP compared to Japan and Korea, which both recorded tax-to-GDP ratios above 24%,according to new data released in the third edition of the OECD’s annual publication Revenue Statistics in Asian Countries.