Reposted from The Gleaner
By Sandra Glasgow, Contributor
A 12-person delegation, headed by Julian Robinson, minister of state in the Ministry of Science, Technology, Energy and Mining, has just returned from a four-day visit to Santiago, Chile, to see first-hand how that country is developing a robust ecosystem for entrepreneurship and innovation. More…
Reposted from ABC Radio Australia
Mining giant Rio Tinto has secured funding support from the Australian government for its massive Oyu Tolgoi copper mine in Mongolia.
In March the United States refused to support the World Bank’s involvement in the same project.
Oyu Tolgoi is Mongolia’s largest investment project and is expected to boost the country’s economy by about one third when in production.
The six billion dollar mine is expected to start production in June after the settling of disputes between Rio Tinto and the Mongolian government. More…
Reposted from Haitilibre.com
The International Finance Corporation (IFC), a member of the World Bank Group, is hosting a Corporate Governance conference in Port au Prince today aimed at helping Haitian firms and family-owned businesses develop sound corporate governance practices to operate more efficiently, improve their access to capital, and manage their risks effectively. More…
Reposted from GoJamaica.com
Finance Minister Dr Peter Phillips says a World Bank mission is expected in Jamaica in May to continue work on the new Country Partnership Strategy.
The initiative will provide support for the Government’s efforts to increase economic growth, create jobs and fight poverty.
Speaking with the Jamaica Information Service in Washington, Phillip said consultations have already started on a new programme for Jamaica, which will be launched later this year. More…
Economic growth in sub-Saharan Africa will outpace the world economy over the next three years
Reposted from BBC News
Economic growth in sub-Saharan Africa should significantly outpace the global average over the next three years, according to the World Bank. Higher commodities, increasing investment and a general pick-up in the world economy should all boost the continent’s growth to more than 5%. But the World Bank added that African governments had to do more to ensure that this growth reduced poverty. More…
The IFC is launching a program to help improve the country’s investment and trade environment
Reposted from 2Merkato
By Meraf Leykun
The International Finance Corporation (IFC), member of the World Bank Group is to cooperate with the Ethiopian Ministry of Trade (MoT) and Ethiopian Revenue and Customs Authority (ERCA) to help improve the country’s investment and trade environment.
The Ministry of Trade will launch an electronic business licensing and trade registration system shortly, while Ethiopian Revenue and Customs Authority will consider to revise its laws. More…
Reposted from The Diplomat
What a difference a year makes.
A functioning ATM at Yangon International Airport; a reporter from Myanmar International Television on prime time; a brand new KIA showroom sparkling with chrome and glass; Italian gelato counters serving raspberry and lime sorbet alongside a sumptuous buffet of Burmese cuisine.
On Yangon’s streets, hundreds of new Toyota Land Cruisers and Mitsubishi Pajeros have emerged as clear favorites – even an occasional Porsche sweeps past. More…
Reposted from Mizzima News
A high-level World Bank Group delegation led by International Financial Corporation (IFC) Executive Vice President and CEO Jin-Yong Cai are in Myanmar from February 3-5 to meet with President Thein Sein, government ministers, Aung San Suu Kyi, private sector representatives and development partners. More…
Reposted from The BBC
The Asian Development Bank (ADB) and the World Bank have approved fresh loans for Burma to aid the social and economic development of the country.
The ADB granted $512m (£325m), while the World Bank approved a $440m credit.
The loans were made possible after Burma cleared overdue arrears to the two banks with the aid of Japan. More…
Reposted from Bloomberg
Morgan Stanley and IFC will invest in eleni LLC, a company that plans to build commodity exchanges in Africa after the success they have had in Ethiopia
By Isis Almeida and Claudia Carpenter
Morgan Stanley and the World Bank’s International Finance Corp. will participate in a $5 million investment in eleni LLC, a Nairobi, Kenya-based company that was started by the founder of the Ethiopian Commodity Exchange.
Eleni plans to build commodity exchanges in Africa, Morgan Stanley, the IFC and eleni said in a statement yesterday. More…