W/Bank Rejects Debt Cancellation For Africa       The World Bank Group yesterday rejected request by African heads of state for cancellation of their countries’ debts, saying the world has moved past that line of action. World Bank Group President, David Malpass said, who disclosed this yesterday during...

W/Bank To Invest $150bn In Africa       The President of World Bank Group, David Malpass, has said that the bank plans to invest $150 billion in Africa within the next five years towards promoting development on the continent. Malpass disclosed this on Tuesday at the Summit on...

W/Bank To Address Nigeria, Poor Countries’ Debt Overhang     The President, World Bank Group, Mr David Malpass, said the group is working actively in collaboration with the International Monetary Fund on the common framework that the G20 established for dealing with debt overhang and debt burdens. He...

Climate Change: W/Bank Plans $5bn Investment In Africa         The World Bank plans to invest over $5bn over the next five years to help restore degraded landscapes, improve agriculture productivity, and promote livelihoods across 11 African countries on a swathe of land stretching from Senegal to...

W/Bank Cuts 2021 Global Forecast To 4.0%         The World Bank on Tuesday downgraded its outlook for the global economy and warned the situation could deteriorate if Covid-19 infections accelerate or the vaccine rollout is delayed. The coronavirus pandemic also has worsened the risks surrounding the rising...

World Bank, IMF Plan debt reduction for IDA countries The World Bank and International Monetary Fund (IMF), have proposed to undertake a joint action plan on debt reduction for the most indebted International Development Association (IDA) countries. Mr David Malpass, the President, the World Bank Group,...