Finance & Economics | WPN World People News

ECB President Mario Draghi arrives in Parliament to debate ECB activities and future EMU governance

Jerzy Buzek

Rwanda’s economy recovered in the first three quarters of 2014 growing to 7.1 percent and is expected to continue momentum with projected growth of 7.5 in 2015 and 7.7 percent in 2016, according to the latest Rwanda Economic Update published by the World Bank Group.

The United Kingdom’s economy is projected to expand this year and next, but challenges remain to boost productivity and make future growth more inclusive, according to the OECD’s latest Economic Survey.

The World Bank Group and the Kurdistan Regional Government (KRG)-Iraq, launched Tuesday a social protection program of support to promote equity in living standards and reduce vulnerability. The program is aligned with the government’s efforts to develop a comprehensive social protection system and contributes to the goals of KRGs Vision 2020 of “freedom, health, welfare, economic security and opportunity for people.”

The World Bank (WB) Board of Executive Directors approved US$200 million in financing to strengthen Bolivia’s legal and institutional framework for the comprehensive management of disaster and climate risks on February 24. Fifty percent of these funds come from the International Development Association (IDA), under concessionary conditions, while the rest is provided by the International Bank for Reconstruction and Development (IBRD). For the first time in 10 years, Bolivia is eligible for this type of public policy financing, normally reserved for medium income countries.

The Executive Board of the International Monetary Fund (IMF) Monday approved a three-year, SDR 935.4 million (about €1.2 billion, 200 percent of quota) new Stand-By Arrangement for Serbia. The Serbian authorities have indicated their intention to treat the program as precautionary.

Despite significant increase in private investment in the power sector in Maharashtra over the past two decades, electricity distribution to the end consumer continues to be the weakest link in the value chain, says a World Bank report.

The Executive Board of the International Monetary Fund (IMF) Monday approved a disbursement of an amount equivalent to SDR 32.3 million (about US$45.6 million or 25 percent of quota) to be drawn from the Rapid Credit Facility (RCF) as well as SDR 25.84 million (about US36.5 million or 20 percent of the country’s quota) in immediate debt relief under the Catastrophe Containment and Relief (CCR) Trust.

World Bank Vice President for the South Asia Region Annette Dixon said the Bank would partner with the government to help shape and implement policies aimed at reducing poverty, improving shared prosperity and promoting sustainable growth.