16 January 2009
Read all the headlines concerning the international financial institutions from the past week
African Development Bank:
AfDB grants Gambia US$ 6.4 million for livestock, horticulture development, January 13, 2009 (Afrique en ligne) - The African Development Bank (AfDB) has granted Gambia US$ 6.4 million to enable the tiny African counry to finance a new project for livestock and horticulture development, competent sources in Banjul confirmed to PANA Tuesday.
Asian Development Bank:
ADB renders $1 million technical assistance to Azerbaijan for railway program making, January 16, 2009 (Azerbaijan Business Center) - The Asian Development Bank (ADB) is providing ongoing assistance to the Azerbaijani government in financing the State Railway Development Programme for the period up to 2012.
Asian Development Bank in cash call to boost loans, by Yuzo Saeki, January 14, 2009 (The Guardian) - The Asian Development Bank plans to raise the cash available for lending to countries hit by the world economic crisis by tripling its capital base to $165 billion.
ADB to disburse USD $300m to Georgia, January 12, 2009 (Georgian Business Week) - ADB will finance five projects. Georgia has already received USD 70m. The funds will support the state budget.
European Bank for Reconstruction and Development:
EBRD investment in Ukrainian economy increases in 2009, January 15, 2009 (Trend Capital) - Amount of investment of the European Bank for Reconstruction and Development (EBRD) in the Ukrainian economy made up € 835 million in 2008 compared to $1 billion in 2007. Half part of 40 agreements (including regional ones) signed in 2008 fell on financial sector, the EBRD said. These agreements cost €418 million which is by 50 percent more than in 2007.
EBRD extends $50 million loan to UkrExim Bank, January 12, 2009 (The Financial) - The EBRD is providing a follow on loan of $50 million to JSC “The State Export - Import Bank of Ukraine ”. Loan proceeds will be used to finance large and medium-sized energy efficiency and renewable energy projects of up to $5 million each.
Inter-American Development Bank:
China Gives $350 Million to Latin American Bank, by Tom Barkley, January 13, 2009 (WSJ) - China plans to help fund a number of initiatives to help Latin American countries cope with the global financial crisis and economic slowdown, including $125 million for the IDB's special operations fund that lends to the poorest countries.
China becomes formal member of Inter-American Development Bank Group, January 13, 2009 (China View) - China joined the Inter-American Development Bank Group (IDB), the most important regional development institution in Latin America and the Caribbean, here Monday.
International Monetary Fund:
IMF gives final approval to $2.46 bln loan to Belarus, by Greg Robb, January 12, 2009 (Market Watch) - The loan was anticipated after Belarus President Alexander Lukashenko instituted a 20% devaluation of the Belarussian currency at the start of the New Year, saying it was a condition for an upcoming IMF loan.
World Bank:
World Bank appoints new country director for Kenya, January 16, 2009 (China View) - The World Bank has appointed Dutch national Johannes Zutt as country director for Kenya, Comoros, Eritrea, Seychelles and Somalia.
World Bank To Provide $100 Million For Renewable Energy In Bangladesh, by Siddique Islam, January 14, 2009 (AHN) - The World Bank (WB) will likely provide $100 million to promote renewable energy, particularly solar power, in Bangladesh, officials said on Wednesday. A WB mission visited Bangladesh last week to explore the possibility of renewable energy development as the Bangladeshi government has taken steps to modernize its infrastructure.
World Bank To Reopen Chad Office, by Siddique Islam, January 13, 2009 (AHN) - The World Bank has decided to partially reopen its office in the central African nation of Chad to enable close supervision of its portfolio of projects directly benefiting the poor in Chad. The Bank closed its offices last year due to rebel conflict.
World Bank gives $33m to local governments, by David Muwanga, January 12, 2009 (New Vision Online) - The World Bank has approved a $33.6m (sh65.9b) loan to promote local governments, accountability and investments [in Ugnada]. According to a report on the bank’s website, the project aims at strengthening the ability of ministries, departments, agencies and local governments to plan and manage resources in collaboration with communities for better service delivery.