According to the 2021 Asian Infrastructure Finance (AIF) report released by the Asian Infrastructure Investment Bank (AIIB). China can capitalize on a higher participation rate in global value chains (GVC) to hasten its recovery from the pandemic. GVC participation across China will largely rely on a combination of improving infrastructure, strengthening institutional quality and increasing port efficiency, capacity and connectivity with the hinterland. Increasingly, providing green … [Read more...] about Green global value chains can strengthen China’s competitiveness, says AIIB report
New Zealand and ADB to support Cook Islands’ economic recovery
The Government of New Zealand will provide a $21 million grant and the Asian Development Bank (ADB) financing of $80 million to help the Cook Islands’ economy transition from recovery to sustainable, private sector-led growth. Through the Supporting Sustainable Recovery Program, the funding will help the Government of the Cook Islands progress ongoing reforms to improve public financial management and foster private sector activity. The program also provides a precautionary financing … [Read more...] about New Zealand and ADB to support Cook Islands’ economic recovery
Independent Evaluation Report calls ADB to extend Greater Mekong Subregion support beyond physical infrastructure
A report released by ADB’s Independent Evaluation Department (IED) says that the Asian Development Bank's (ADB) support for the Greater Mekong Subregion (GMS) Program has been effective in promoting subregional economic cooperation through physical connectivity, but it should now put a greater focus on non-infrastructure elements. The report assesses the extent to which ADB’s support for the GMS Program during 2012–2020 contributed to the development of the subregion. It finds that ADB’s … [Read more...] about Independent Evaluation Report calls ADB to extend Greater Mekong Subregion support beyond physical infrastructure
World Bank Group celebrates 20 Years of presence and partnership in Chennai
The largest World Bank Group (WBG) office outside the United States headquarters, situated in the southern Indian city of Chenna is celebrating its 20th anniversary this year. The WBG’s flagship “Shared Services Center” with over 1,200 staff provides accounting, finance, human resource, and information technology services to over 130 offices of the World Bank Group across the globe. Shaolin Yang, Managing Director and WBG Chief Administrative Officer, says: “The Chennai Center provides … [Read more...] about World Bank Group celebrates 20 Years of presence and partnership in Chennai
Global value chains can hasten India’s recovery, says AIIB Report
According to a report of Asian Infrastructure Investment Bank (AIIB), India can capitalize on a higher participation rate in global value chains (GVC) to accelerate the country’s recovery from the pandemic. AIIB’s 2021 Asian Infrastructure Finance Report said that GVC participation across India will largely rely on a combination of improving infrastructure, strengthening institutional quality and increasing port efficiency, capacity and connectivity with the hinterland. Greater … [Read more...] about Global value chains can hasten India’s recovery, says AIIB Report
Narrowing knowledge gaps for sustained economic growth in Lake Chad region
A new World Bank study aims at closing critical knowledge gaps to inform the policy discussion on challenges and opportunities for faster, more inclusive, and sustained economic growth in the Lake Chad region. The Lake Chad region, an economically and socially integrated area in West and Central Africa straddling Cameroon, Chad, Niger and Nigeria, is confronted with an interplay of multidimensional development challenges that have resulted in low economic growth, limited opportunities, and … [Read more...] about Narrowing knowledge gaps for sustained economic growth in Lake Chad region
$5.5 Million grant to develop road projects in Federated States of Micronesia
The Asian Development Bank (ADB) and the Government of the Federated States of Micronesia (FSM) have signed a $5.5 million grant to help fund the preparation of ADB-supported road transport projects in the FSM. The FSM’s Department of Finance and Administration Secretary Eugene Amor and ADB Pacific Department Deputy Director General Emma Veve signed the agreement, which will fund assessments, planning, and capacity building for implementing road transport projects. ADB is providing $5 … [Read more...] about $5.5 Million grant to develop road projects in Federated States of Micronesia
World Bank VP pledges continued support to key reforms, resilient recovery in Kazakhstan
The World Bank Vice President for Europe and Central Asia, Anna Bjerde, concluded her official visit to Kazakhstan. During her visit Ms. Bjerde met with Prime Minister Askar Mamin, Deputy Prime-Minister Roman Sklyar, Minister of National Economy Asset Irgaliyev, and Deputy Chairman of the Senate Askar Shakirov, to discuss the World Bank’s ongoing support for reforms, including regional and metropolitan development, and investment policy, as well as the Bank’s future support in the areas of … [Read more...] about World Bank VP pledges continued support to key reforms, resilient recovery in Kazakhstan
Sri Lanka joins WB’s Human Capital Project and commits to accelerate investments in people
The Government of Sri Lanka committed to accelerate more and better investments in human capital – health, education, and social protection – becoming the 82nd country to join the World Bank’s Human Capital Project. At a high-level Human Capital Summit held today, at least 12 Ministers and State Ministers, Secretaries and State Secretaries, and several high-ranking officials including the Director General of the Ministry of Finance came together in person to discuss priorities to accelerate … [Read more...] about Sri Lanka joins WB’s Human Capital Project and commits to accelerate investments in people
Sri Lanka: $500m financing for better road connectivity, strong agricultural supply chains
To provide safe, efficient and climate resilient connectivity to strengthen agricultural supply chains through the Inclusive Connectivity and Development Project, the Government of Sri Lanka and the World Bank have signed a $500 million financing agreement. This project is expected to benefit around 16 million people living in rural communities in selected districts of Sri Lanka. Sajith Atygalle, Secretary to the Ministry of Finance, signed on behalf of the government and Hartwig Schafer, … [Read more...] about Sri Lanka: $500m financing for better road connectivity, strong agricultural supply chains
