Source: The World Bank Group |

Mozambique Becomes First Country To Receive Emission Reductions Payments From Forest Carbon Partnership Facility

The Forest Carbon Partnership Facility (FCPF) paid Mozambique $6.4 million for reducing 1.28 million tons of carbon emissions since 2019

Mozambique has become the first country to receive payments from a World Bank trust fund for reducing emissions from deforestation and forest degradation—commonly known as REDD+. The Forest Carbon Partnership Facility (FCPF) paid Mozambique $6.4 million for reducing 1.28 million tons of carbon emissions since 2019. The payment is the first of…

Source: The World Bank Group |

Sub-Saharan Africa Exits Recession in 2021 but Recovery Still Vulnerable

This rebound is currently fueled by elevated commodity prices, a relaxation of stringent pandemic measures, and recovery in global trade, but remains vulnerable given the low rates of vaccination

Sub-Saharan Africa is set to emerge from the 2020 recession sparked by the COVID-19 pandemic with growth expected to expand by 3.3 percent in 2021. This is one percent higher than the April 2021 forecast according to the latest edition of Africa’s Pulse. This rebound is currently fueled by elevated…

Source: The World Bank Group |

New World Bank Group Program to Boost Djibouti’s Efforts to Reduce Poverty

The CPF will aim to address the immediate needs related to the pandemic while supporting medium- to long-term reforms to create the right environment for inclusive and job-creating growth

The World Bank Group’s Board of Executive Directors on September 23, 2021 discussed the new 2022-2026 Country Partnership Framework (CPF) for Djibouti, which supports the country’s goal of reducing poverty through a strong focus on private sector development. The five-year CPF guides the work of the World Bank, the International Finance Corporation (IFC) which focuses…

Source: The World Bank Group |

Niger to Improve Women and Girl’s Access to Nutrition and Health Services

15-year multiphase program will use innovative and comprehensive nutrition and health interventions to improve health system efficiency, equity, and sustainability

The Nigerien government will be able to provide its population with better health coverage with financing approved today by the World Bank. This 15-year multiphase program will use innovative and comprehensive nutrition and health interventions to improve health system efficiency, equity, and sustainability, as well as boost girls’ and women’s…

Source: The World Bank Group |

Somalia’s Economy Rebounding from ‘Triple Shock’

Real GDP growth is projected at 2.4 percent in 2021

Somalia’s economy is rebounding from the “triple shock” that ravaged the country in 2020: the COVID-19 pandemic, extreme flooding, and the locust infestation. Real GDP growth is projected at 2.4 percent in 2021. This growth momentum is expected to continue in the medium term and reach pre-COVID-19 levels of 3.2…

Source: The World Bank Group |

Ghana To Reverse Land Degradation with World Bank Support

The cost of environmental degradation in Ghana due to unsustainable use of land for agriculture, forests, and mining stands at 2.8 percent of national GDP (2017)

The World Bank approved $103.4 million for Ghana to reverse land degradation and strengthen integrated natural resource management in about 3 million hectares of degraded landscapes, working with communities of the Northern Savannah Zone and the cocoa forest landscape.  The cost of environmental degradation in Ghana due to unsustainable use of…

Source: The World Bank Group |

Joint Statement of the Multilateral Leaders Taskforce on Scaling COVID-19 Tools

A Crisis of Vaccine Inequity

At its third meeting, the Multilateral Leaders Taskforce on COVID-19 (MLT) - the heads of the International Monetary Fund, World Bank Group, World Health Organization and World Trade Organization -met with the leaders of the African Vaccine Acquisition Trust (AVAT), Africa CDC, Gavi and UNICEF to tackle obstacles to rapidly…

Source: The World Bank Group |

World Bank Group Appoints New Country Manager for South Sudan

Firas Raad has extensive experience in the areas of economic and human development and has worked with the World Bank Group, the United Nations, and the Jordanian Government

The World Bank Group has appointed Mr. Firas Raad as the new Country Manager for South Sudan effective August 1, 2021. Mr. Raad will be leading an expanding country program focused on delivering project financing and analytical services in support of South Sudan’s development priorities. The World Bank Group’s current…

Source: The World Bank Group |

Remarks by World Bank Group President David Malpass to the Summit of the Heads of State of the Central African Economic and Monetary Community

The pandemic has left many CEMAC member countries with elevated debt levels

Your Excellencies, Presidents, Distinguished Guests, Ladies and Gentlemen, I am pleased to participate in today’s Summit, which is taking place at a critical juncture for the Central African Economic and Monetary Community (CEMAC). I join with you in expressing my condolences on the death of President Deby to his son and the Chadian people.  COVID-19 is aggravating long-standing…

Source: The World Bank Group |

Somalia’s Women and Children are Among the 1.84 Million to Benefit from Improved Healthcare Services

This project is the first World Bank investment in Somalia’s health sector in 30 years

The World Bank approved the Improving Healthcare Services in Somalia Project, known as “Damal Caafimaad,” which is financed by a US$75 million International Development Assistance (IDA) grant and an additional US$25 million grant from the Global Financing Facility for Women, Children and Adolescents (GFF). This project is the first World Bank investment…