Finance & Economics | WPN World People News

The World Bank Tuesday approved approximately $1.1 billion for three projects in Bangladesh that would benefit almost 36 million people by improving the quality of primary education, building coastal communities’ resilience to natural disaster, and increasing the nutrition and cognitive development of children from the poorest households.

Some 6,000 workers made redundant in France, Greece, Italy and Poland will receive EU aid worth €35.5 million to help them find or create jobs, Parliament decided on Tuesday. The four applications to the European Globalisation Adjustment Fund (EGF) were approved by Council of Ministers on 15 December.

Bruno Jean Richard Itoua, Minister of Scientific Research and Technological Innovation of the Republic of Congo*, and the Director-General of UNESCO, Irina Bokova, will sign an agreement to reinforce Congo’s capacities in scientific and technological innovation, a key to the country’s economic and social development. The signing will take place on 17 December.

Raising farm productivity and incomes, more and better basic services for all, and a better business climate are critical to ending poverty in Myanmar, according to a new World Bank report, Ending Poverty and Boosting Shared Prosperity in a Time of Transition.

The Executive Board of the International Monetary Fund (IMF) Monday completed the eighth review of Senegal’s economic performance under the program supported by the Policy Support Instrument (PSI) and also concluded the 2014 Article IV consultation.

The World Bank Board of Executive Directors approved a two-loan package on December 12, 2014 totaling US$1.4 billion to strengthen economic growth with equity in Colombia, on the one hand, and increase productivity and sustainability in Colombian cities, on the other. These Development Policy Loans (DPLs) were designed to support the Colombian administration’s budget program.

The Executive Board of the International Monetary Fund (IMF) last Friday completed the first review under the Extended Fund Facility arrangement (EFF)1 for Seychelles. The completion of the review enables a disbursement of SDR 1.635 million (about US$2.4 million), bringing total disbursements under the arrangement to SDR 3.27 million (about US$4.8 million). The Executive Board’s decision was taken without a meeting2.

The Executive Board of the International Monetary Fund (IMF) last Friday completed the first review of Grenada’s economic performance under a three-year program supported by an arrangement under the Extended Credit Facility (ECF). The completion of the review enables the disbursement of SDR 2 million (about US$2.9 million), bringing total resources made available to Grenada under the arrangement to SDR 4.04 million (about US$5.9 million).

The Executive Board of the International Monetary Fund (IMF) last Friday completed the fifth review of Tunisia’s performance under an economic program supported by a Stand-By Arrangement (SBA). The completion of the fifth review enables the disbursement of SDR 71.6 million (about US$104.8 million), bringing total disbursements under the arrangement to SDR 787.87 million (about US$1.15 billion).