Finance & Economics | WPN World People News

The disbursement of the World Bank financing for Annual Development Program has witnessed an upward trend in the last four years.

The World Bank Board of Executive Directors on Friday approved a US$14.85 million grant for the Tajikistan Environmental Land Management and Rural Livelihoods Project, which aims to support more sustainable management of natural resources and increase the resilience of communities to climate change impacts.

It was in front of a crowd of hundreds that leaders of Malawi, Sierra Leone, Senegal, and Cape Verde spoke about the big gains their countries have made in the last few years. For the president of Malawi, Joyce Banda, the hardest thing was restoring relations with global financial institutions like the International Monetary Fund.

U.S. officials say big business and labor have reached an agreement on a low-skilled guest-worker program, creating a pathway to citizenship for 11 million illegal immigrants.

It was in front of a crowd of hundreds that leaders of Malawi, Sierra Leone, Senegal, and Cape Verde spoke about the big gains their countries have made in the last few years. For the president of Malawi, Joyce Banda, the hardest thing was restoring relations with global financial institutions like the International Monetary Fund, or IMF.

The Executive Board of the International Monetary Fund (IMF) completed the first review of Niger’s economic performance under the program supported by a three-year, SDR 78.96 million (about US$118.3 million) Extended Credit Facility (ECF) arrangement approved by the IMF’s Executive Board on March 16, 2012 (see Press Release No. 12/90). The decision enables an immediate disbursement of an amount equivalent to SDR 11.28 million (about US$16.9 million), bringing total disbursements under the arrangement to an amount equivalent to SDR 22.56 million (US$33.8 million).

German Finance Minister Wolfgang Schaeuble has said savings accounts in the euro zone are safe, adding that Cyprus is a "special case" and not a template for future rescues.

The World Bank’s Board of Executive Directors Thursday approved a grant of US$3 million to help Comoros scale up an emergency response in parts of the island hit by recent devastating floods. The new financing will also help to alleviate the ongoing impact on communities of the global economic crisis and high food prices.