World Bank

The Gulf Cooperation Council economy is estimated to grow by 3.6 percent in 2024 and 3.7 percent in 2025, according to the World Bank. The recent Gulf Economic Update report by the WB revealed that the GCC is set to grow by 1 percent in…
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World Bank Group President Ajay Banga on Tuesday said proposed new contributions from wealthy countries combined with balance sheet changes could boost the bank’s lending capacity by $100 billion to $125 billion over a decade. Banga told…
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The World Bank has unveiled a new $18 billion loan package for Turkiye in what appears to be a show of support for the government’s efforts to reshape its economic policy. The deal, which comes on top of a $17 billion loan signed off by…
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Dr. Rumaih Al-Rumaih, chairman of the Saudi Public Transport Authority and deputy minister of transport and logistic services, said on Thursday that Saudi Arabia aims to rank among the top 10 countries on the World Bank’s Logistics…
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Saudi Arabia has jumped 17 places to claim 38th rank in the World Bank’s Logistics Performance Index 2023, as the Kingdom consolidates its national logistics strategy to become a regional hub. This quick elevation comes within a very…
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Saudi Arabia has jumped 17 ranks in the World Bank’s Logistics Performance Index (LPI) for 2023, Minister of Transport and Logistic Services Saleh Bin Nasser Al-Jasser announced Saturday. The jump up the rankings was achieved within the…
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Countries must do more to avert the costly consequences of growing global trade fragmentation, and help avert a “second Cold War,” the International Monetary Fund’s (IMF) managing director said Thursday. “I am among those who know what…
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The global economy is set for a “lost decade” according to the World Bank as it forecasts that economic growth is set to hit a 30-year low. A report from the organization warns average global domestic product growth will drop to 2.2…
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The World Bank Group’s board of executive directors on Wednesday approved a new Country Partnership Framework for Egypt, which lays out a strategy in the country for 2023–2027, Emirates News Agency reported. The new CPF is in line with…
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US President Joe Biden nominated former Mastercard Inc. CEO Ajay Banga to lead the World Bank, betting the India-born executive’s ties to the private sector and emerging markets will jump-start the 77-year-old institution’s overhaul to…
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