Latest Articles

• IMF to Release Funds for 3 African Nations

  23 Dec 2008

  The International Monetary Fund is releasing nearly USD25 million following economic reviews of three African countries. The Central African Republic and Niger have a three-year agreement with the fund, while Sierra Leone’s arrangement with IMF spans four years. (“IMF Executive Board Completes Third Review Under the PRGF Arrangement for the Central African Republic and Approves U…

• World Bank OKs USD500 Million Loan to Ukraine

  23 Dec 2008

  Ukraine can access another USD500 million in World Bank loan to carry out economic reforms. “The measures taken by the government under the (development policy loan) series are important signals of Ukraine’s commitment to economic reform at a time of severe economic difficulties,” according to Martin Raiser, World Bank country director for Ukraine, Belarus and Moldova. “But clear…

• IDB Boosts Crisis Fund for Microfinance Institutions

  23 Dec 2008

  The Inter-American Development Bank’s Multilateral Investment Fund committed USD20 million to boost the resources of the Emergency Liquidity Facility for the Latin American and Caribbean microfinance institutions. “This financing is particularly timely because it will provide ELF additional resources to deal with the potential fallout from the global credit crisis,” MIF principal…

• Ivory Coast Becomes Eligible for World Bank-IMF Debt Relief Scheme

  23 Dec 2008

  The World Bank and International Monetary Fund added Ivory Coast to their list of countries that could receive aid under the Heavity Indebted Poor Countries Initiative. To receive assistance, the country needs to reach the so-called “decision point” by satisfying several conditions set by the the two global lenders. These conditions include satisfactory economic performance, deve…

• IMF to Lend USD800 Million to El Salvador

  23 Dec 2008

  The International Monetary Fund is ready to provide USD800 million to El Salvador. It said the government considers the loan as a precautionary measure and does not intend to tap the funding. The fund expects its board to approve the loan in mid-January. (“IMF reaches USD800 mln loan deal with El Salvador” - Thomson Reuters, Dec. 22, 2008) …

• Philippines Receive Malaria Funding from Australia

  23 Dec 2008

  Australia pledged 144 million pesos (USD3 million) to help fight malaria in the Philippines. “Australia supports the efforts of the Philippine Government to eliminate malaria in the Philippines by 2020,” Australian Ambassador Rod Smith said. “Malaria continues to place a significant economic, social and health burden on communities and local government units in the Philippines. T…

• ADB Helps Cut Pollution in Chinese River

  23 Dec 2008

  The Asian Development Bank earmarked USD200 million to cut pollution in and enhance the quality of water coming from the Songhua River basin. The money will be used to develop infrastructure and offer training to improve water supply, wastewater treatment and solid waste management. (“ADB approves USD200-mln loan to China for water management” - Xinhua News Agency, Dec. 22, 2008)…

• Banking on Both Sides of the Border

  23 Dec 2008

  By: Oliver Subasinghe Remittances can significantly affect development abroad, but for the microfinance community, tapping into the USD300 billion global remittance market poses as many challenges as opportunities. <a href="http://devex.com/articles" "target=blank"><b>More Devex News & Analysis&#8230;</b></a> &#8230;

• UN Seeks Aid for Somali Refugees

  22 Dec 2008

  The United Nations High Commission for Refugees needs USD92 million to help 250,000 Somalis in Kenya. &#8220;We must take action now to improve the general living conditions among a refugee population which has already suffered far too much,&#8221; UNHCR chief Antonio Guterres said. &#8220;We also need to be prepared for the possibility of continued instability in Somalia and the outflows associat&#8230;

• IFAD Issues USD258 Million Loans, Grants for 16 Nations

  22 Dec 2008

  The International Fund for Agricultural Development approved USD258.38 million in loans and grants to support poverty alleviation programs in 16 countries. The beneficiaries include the Democratic Republic of Congo, Ghana, Kenya, Swaziland, Tanzania, China, Laos, Philippines, Tajikistan, Vietnam, Belize, Brazil, Guatemala, Venezuela, West Bank and Gaza, Yemen, and Bosnia-Herzegov&#8230;

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