Abolishing the myriad of obstacles for African women to become entrepreneurs must be a priority on a continent where poverty continues to grow, World Bank CEO Kristalina Georgieva said on Tuesday (Apr 16). World Bank CEO Kristalina Georgieva says abolishing the myriad of obstacles for African women to become entrepreneurs must be a priority on a continent where poverty continues to grow. (AFP/Yasuyoshi CHIBA) "What we know is that women in Africa are more likely to be entrepreneurs but they face more obstacles than men to create and run their businesses," she said in an interview with AFP. Speaking on the eve of the first Women's Entrepreneurship Financing (We-Fi) summit in West Africa, the chief executive of the Washington-based lender said once women overcome the roadblocks, they tend to be more successful. The conference "aims to galvanize public policy reforms and also for private sector action to promote women entrepreneurs in West Africa." The obstacles are numerous: … [Read more...] about World Bank making women”s entrepreneurship a priority
World bank organizational chart
Increased lending by China to developing nations is increasingly under the spotlight amid concerns that growing debt burdens and onerous conditions could sow the seeds of a crisis. International Monetary Fund Managing Director Christine Lagarde says the IMF is working to collect data on the rising amount of loans to developing countries, including from China. (AFP/MANDEL NGAN) The global development lenders, the International Monetary Fund and World Bank, are calling for more transparency about loan amounts and terms, and cautioning governments against relying too much on debt. At the Spring meetings of the institutions on Thursday (Apr 11), newly-installed World Bank President David Malpass warned that "17 African countries are already at high risk of debt distress, and that number is just growing as the new contracts come in and aren't sufficiently transparent." IMF chief Christine Lagarde said the high debt levels and number of lenders, who do not all conform to … [Read more...] about IMF, World Bank urge caution with China loans
World Bank President Jim Yong Kim is stepping down in February after six years at the helm of the global development lender (Photo: AFP/Nicolas ASFOURI) Jim Yong Kim, president of the World Bank, has announced that he will retire. This is far earlier than expected. Kim was first appointed in 2011 and was re-elected in 2016 for a five-year term, due to end in 2022. It was widely assumed that Kim would serve out his full term. Instead, he has abruptly declared that he will retire on Feb 1 and take up a job with a private investment infrastructure firm. What’s going on? The president of the World Bank is, in effect, the Pope of the official international development community. He is the ambassador-at-large of “The Bank”. As such, he (the president has always been a “he”) constantly travels the world, giving keynote speeches at major conferences, meeting heads of governments, and holding hundreds of meetings with ministers and officials to discuss … [Read more...] about Did World Bank President Jim Yong Kim leave on his own accord?
PM Nguyen Xuan Phuc (R) welcomes World Bank Managing Director and Chief Financial Officer Joaquim Levy on the sidelines of the 6th GMS Summit and the 10th CLV Development Triangle Area Summit in Ha Noi on March 31, 2018. Photo: VGP He called for more support, including finance and policy, from the World Bank for Viet Nam to cope with climate change and boost development of other key areas like infrastructure, education, renewable energy and economic restructuring. Viet Nam considers businesses as the core force in accelerating economic growth, in which private sector takes an important role, PM Phuc said. The Government chief also took the occasion to call on the World Bank to play a greater role in the cooperation process of the Greater Mekong Subregion (GMS) and the Cambodia – Laos – Viet Nam (CLV) Development Triangle Area. Joaquim, who is in Viet Nam to attend the 6th GMS Summit and the 10th CLV Development Triangle Area Summit, spoke highly of … [Read more...] about World Bank is a top development partner of Viet Nam
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) signed by Vietnam and 10 other countries on Thursday will yield robust economic gains for Vietnam, a new World Bank report says. According to analysts, multilateral trade agreements such as the CPTPP are expected to boost Vietnam’s investment and export driven growth model. The CPTPP will reduce tariffs in countries that together amount to more than 13 percent of the global economy - a total of $10 trillion in gross domestic product. With the United States, it would have represented 40 percent. Even without the United States, the deal will span a market of nearly 500 million people, making it one of the world's largest trade agreements, according to Chilean and Canadian trade statistics. The CPTPP will increase Vietnam’s GDP by 1.1 percent by 2030, according to the report. “Assuming a modest boost to productivity, the estimated increase of GDP would amount to 3.5 percent from the … [Read more...] about Pacific trade deal to boost Vietnam’s economy, drive reforms: World Bank