Johannesburg, South Africa | AFP | The World Bank warned Thursday that sub-Saharan Africa could slip into its first recession in a quarter of century because of the coronavirus pandemic on the world’s most impoverished continent. “We project that economic growth in Sub-Saharan Africa will decline from 2.4 percent in 2019 …
Read More »World Bank donates Shs 57 Bn to fight COVID-19
Kampala, Uganda | THE INDEPENDENT | The World Bank Uganda office has donated Uganda Shillings 57bn (USD 15m) towards the country’s fight to the spread of coronavirus. The money according to Antony Thompson, the World Bank Uganda Country director, will be re-allocated from the Reproductive Maternal and Child Health Services …
Read More »COVID-19: World bank, IMF call for debt relief for poorer countries
Kampala, Uganda | THE INDEPENDENT | The World Bank and International Monetary Fund have called for the suspension of debt repayments for poorer countries as many of them turn to focus on battling the Coronavirus (COVID -19). In a joint statement on Wednesday night, the two multi-lateral lenders said the Coronavirus …
Read More »World Bank avails US$12bn to fight Coronavirus
The lender will also provide policy and technical advice to ensure countries access global expertise | PATRICIA AKANKWATSA | As the world grapples with the spread of Coronavirus (COVID-19), the World Bank Group is making available an initial package of up to US$12 billion in immediate support to assist countries …
Read More »WORLD BANK: Most Ugandans stuck with poor quality jobs
Kampala, Uganda | THE INDEPENDENT | Many Ugandans are stuck with poor quality jobs, a fix that has seen them work longer hours but with falling earnings, a World Bank report has revealed. The report shows that due to poor quality jobs, value-added is very low even when people work. The report …
Read More »‘Uganda can be a food basket while closing the employment gap’
Kampala, Uganda | THE INDEPENDENT | Uganda’s economy needs to gradually create more jobs for its fast-growing and youth population. To accelerate economic growth and drive transformation, these jobs will need to bring higher labor productivity, says a new World Bank report launched today. The report, “Uganda: Jobs Strategy for Inclusive Growth,” …
Read More »Research: Ugandan officials might have hidden UGX 267bn Aid money
Kampala, Uganda | THE INDEPENDENT | Ugandan officials could have stashed away a whopping USD 73M (UGX267B) of the aid money from the World Bank between 1990 and 2009, a new research paper suggests. The controversial paper written by researchers from the Norwegian Business School, University of Copenhagen, and The …
Read More »World Bank questions Uganda’s growth with no jobs
Kampala, Uganda | THE INDEPENDENT | The World Bank has said Uganda should ask hard questions on why the country is growing but not creating enough jobs and people incomes remain stagnant. In the Economic update for Uganda launched on Thursday, the international lender said Uganda’s level of per capita …
Read More »World Bank economic report urges Uganda to step up social protection
Kampala, Uganda | THE INDEPENDENT | The World Bank has today released the 14th Uganda Economic Update which has focused on social protection systems in Uganda and proposes a more effective approach to reduce vulnerability and to support more inclusive growth. The report indicates that the coverage and design of social …
Read More »World Bank’s funding to Uganda increases to UGX 7 Trillion
Kampala, Uganda | THE INDEPENDENT | Uganda will get at least 7 trillion shillings from the World Bank for the period between 2021 and 2023, officials have said. The money is part of new funding round that the bank has put aside for the developing countries under the International Development Assistance …
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