Finance & Economics | WPN World People News

American energy giant General Electric says it will invest $1 billion in Nigeria, promising to more than triple the country’s electrical output over the next 10 years. This comes as Nigeria seeks to reform its dilapidated and corrupt power sector.

British young people with low or no qualifications make up 39% of all young people unemployed and not in education, and 47% of those inactive and outside learning, despite only accounting for a quarter of the youth population. People with higher qualifications are more likely to be employed, and earn more, than those with lower qualifications. For these reasons, active labour market policies for young people have tended to focus on training (often alongside employment subsidies, work experience and support with looking for work). However successive evaluations found mixed results for training programmes

Minister Fast (far left) with Bill Nkemdirim, Partner, INKAS® Armored Vehicle Manufacturing (second from left); George Asante, Country Director, INKASTRANS Ghana (second from right); and David Khazanski, President and CEO, INKAS® Canada (far right).

"Somalia is in the same situation as Europe was in 1945," Mr Mohamud said, "with extremism, terrorism and piracy" on top. For the past two decades it has lacked a functioning state, with the result that only 25% of children go to school. This has made it only too easy to recruit the young for criminal activities, he underlined.

Up to 1.28 million clients of microfinance institutions and members of credit cooperatives will benefit from a US$20 million World Bank loan approved Thursday by the World Bank Board of Executive Directors for the Microfinance Development Project in Russia.

The World Bank Board of Executive Directors Thursday approved a US$45 million loan for the Lifeline Road Network Improvement Project (LRNIP) for Armenia.

Rural communities of over 10 million people in eight regions of Uzbekistan will benefit from the US$12.699 million Global Environment Facility (GEF) grant financing for the Sustainable Agriculture and Climate Change Mitigation Project approved Tuesday by the World Bank’s Board of Executive Directors.

The World Bank Group has released its new Country Assistance Strategy (CAS) to support Malawi’s effort to diversify the economy and make it more competitive and resilient to shocks.

An aid recipient less than two decades ago, Korea is now a donor and sharing its experience of how to use development co-operation as a catalyst to promote long-term sustainable growth in other countries.

Cameroon's economic recovery continues. After rising about 4 percent in 2011, economic activity is expected to continue to increase and grow to about 5 percent in 2012, the World Bank announced Monday. The engines of growth continue to be in agriculture, construction, and the services industries together with a significant difference this year in the rise of oil production.