Finance & Economics | WPN World People News

The World Bank’s Board of Executive Directors approved US$30 million in loan financing for the Mongolia Livestock Commercialization Project on December 13. The project will help improve the health and productivity of livestock and increase value of products such as meat and dairy by commercializing targeted value chains in selected locations.

Debt in emerging and developing economies (EMDEs) climbed to a record US$55 trillion in 2018, marking an eight-year surge that has been the largest, fastest, and most broad-based in nearly five decades, according to a new World Bank Group study that urges policymakers to act promptly to strengthen their economic policies and make them less vulnerable to financial shocks.

A new Lesotho Poverty Assessment finds that poverty fell over a 15-year period, but poverty remains widespread with nearly half of the population living in poverty and 75 percent of the population either poor or vulnerable to poverty, according to a joint report by the World Bank and the Lesotho Bureau of Statistics released this week.

Estonia’s economy is performing well, and public finances are in excellent shape, yet growth is softening and spending pressures from infrastructure needs and an ageing population are mounting. Efforts should now focus on improving income equality and well-being, greening growth and accelerating the country’s digital transformation, according to a new OECD report.

‌Note: Growth rates presented in this chart are based on data with more than one decimal

Brazil has identified a clear pathway for bringing its existing transfer pricing framework into alignment with the international consensus, and is weighing two options – immediate or gradual implementation, according to a new joint report by the OECD and Receita Federal, Brazil's federal revenue authority (RFB).

The European Investment Bank (EIB) has signed a finance contracts totalling EUR 30 million with Crédit Agricole Srbija AD Novi Sad (Crédit Agricole Srbija) in support of projects of small and medium-sized enterprises (SMEs) as well as mid-cap companies in Serbia. The loan is aimed at supporting Serbian companies and assisting the country’s efforts to integrate into the European Union. The financing contract signed on December 23 is the first tranche of a total EUR 50 m credit line already approved by the EIB governing bodies.

Following is a question by the Hon Paul Tse and a written reply by the Secretary for Financial Services and the Treasury, Mr James Lau, in the Legislative Council on December 18:

The World Bank Board of Executive Directors approved a total of $142 million equivalent for the Malawi Social Support for Resilient Livelihoods project on December 10, 2019. The project will improve resilience among the poor and vulnerable population of Malawi through social cash transfers and support income generating investments at household level. Of this amount, $125 million is an International Development Association* (IDA) grant while $17 million is a Global Risk Financing Facility (GRiF) co-financing grant.