Search results “World bank investment in africa”
World Bank plans to increase investments in Africa
World Bank's private sector arm has announced plans to increase the level of its investment in Africa in order to promote entrepreneurship. The International Financial Corporation (IFC) Regional Director for Eastern and Southern Africa, Cheikh Oumar Seydi in Nairobi said IFC is only constrained by the number of opportunities that are available in Africa, reports China.org. "So, if we find a viable project in Africa we will finance it because we believe that our mission is very relevant in Afri… READ MORE : http://www.africanews.com/2016/05/05/world-bank-plans-to-increase-investments-in-africa Africanews is a new pan-African media pioneering multilingual and independent news telling expertise in Sub-Saharan Africa. Subscribe on ourYoutube channel : https://www.youtube.com/c/africanews Africanews is available in English and French. Website : www.africanews.com Facebook : https://www.facebook.com/africanews.channel/ Twitter : https://twitter.com/africanews
Views: 69 africanews
Sub-saharan Africa's economic growth slows down - World Bank
The World Bank in its latest assessment of economic trends across sub Saharan Africa, says that growth remains slower than expected at an average of 2.7%. Albert Zeufack, the World Bank Chief Economist for Africa, says that slow growth is partly a reflection of less foreign direct investments, low momentum in global trade and industrial activity. The bi annual analysis of the state of African Economies by the World Bank dubbed Africa's Pulse, ties in with Bank of Uganda's latest assessment that global oil prices, volatile currency market coupled with inflation remain indicators of stress on the economy. #NTVNews Subscribe to Our Channel For more news visit http://www.ntv.co.ug Follow us on Twitter http://www.twitter.com/ntvuganda Like our Facebook page http://www.facebook.com/NTVUganda
Views: 194 NTVUganda
World Bank  to invest one billion dollars into African mines
The World Bank wants to launch a one-billion dollar fund in July to map the mineral resources of Africa. It will use satellites surveys to fill geological gaps across the continent, where a lack of adequate data hampers mining investments. Two-hundred million dollars has been committed to the five-year fund.
Views: 299 SABC Digital News
Somik Lall, World Bank - Africa’s Cities, Opening Doors to the World
Cities in Sub-Saharan Africa are experiencing rapid population growth. Yet their economic growth has not kept pace. Why? One factor might be low capital investment, due in part to Africa’s relative poverty: Other regions have reached similar stages of urbanization at higher per capita GDP. In this lecture Somik Lall from the World Bank discusses a deeper reason: African cities are closed to the world. Compared with other developing cities, cities in Africa produce few goods and services for trade on regional and international markets. To grow economically as they are growing in size, Africa’s cities must open their doors to the world. They need to specialize in manufacturing, along with other regionally and globally tradable goods and services. And to attract global investment in tradables production, cities must develop scale economies, which are associated with successful urban economic development in other regions.
Views: 1117 UN-Habitat worldwide
The World Bank and Tertiary Education in Sub Saharan Africa
Africa needs higher levels of growth, productivity and job creation. This requires countries to invest more strategically in the key drivers of growth--higher education being one of them.
Views: 2068 World Bank
Africa's Economic Outlook by Albert Zeufack - World Bank
For more information visit: www.twasummit.com Given the size and scale of the African continent, U.S. investors are challenged with assessing what country or region and sectors to invest in that may hold the most return on investment with lowest commercial risks. Africa's economic outlook as well as growth areas across the continent will be presented to help simplify the decision making process for potential investors seeking to develop an effective Africa focused strategy. Presenter: Albert G. Zeufack, World Bank Chief Economist - Africa
Views: 247 Nazaru LLC
Africa is the Next Great Investment Destination
Africa has a unique opportunity to attract strategic, job-creating investment as long as the right conditions are in place.
Views: 4724 World Bank
Top 10 Best Countries in Africa to do Business
Based on the World Bank's, "Ease of Doing Business" report which assessed government regulations affecting domestic businesses in several countries, The African Exponent compiled 10 African countries best for doing business and here we have it presented to you as Top 10 Best Countries in Africa to do Business.
Views: 53822 Elabor BizTV
Unleashing Africa's Potential - The World Bank
East and Southern Africa is the only region in the world not connected to the global broadband infrastructure. This 'missing link' explains why the region accounts for less than one percent of the world's bandwidth capacity. To learn more about RCIP and IFC's complementary support to the EASSy submarine cable, please visit www.worldbank.org/rcip
Views: 8334 World Bank
Investing in the future of agriculture in Africa
African Development Bank President Akinwumi Adesina spoke with Devex President Raj Kumar about AfDB initiatives around youth and agriculture during the World Bank Spring Meetings in Washington, DC. For more international development news, visit: http://www.devex.com Subscribe to the Devex YouTube channel: http://www.youtube.com/subscription_center?add_user=wwwdevexcom
Views: 413 Devex
10 African Countries for Doing Business in 2018
African Countries for Doing Business ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ The Doing Business index is a ranking index system, created by the World Bank Group, which indicates the regularity environment of businesses. A higher ranking, which is indicated by a lower numerical value, specifies a stronger protection of property rights, and visa versa. Ten of these areas have been included in this year’s ranking on the “ease of doing business”. They are: Starting a business. Obtaining a building permit. Connecting to electricity. Transferring ownership. Getting credits. Protecting minority investors. Payment of taxes. Cross-border trading. Enforcing contracts. Resolving insolvency. Following this criteria here are the top ten African economies, as ranked in the 2018 Doing Business report. Mauritius The World Bank has revealed that Mauritius is positioned in 25th place worldwide, and in 1st place in Africa with a score of 77.54. The country is ranked twenty-four places higher this year, from its 49th position in the 2017 Doing Business report. With a score of 77.54 points (out of a total of 100) Rwanda Rwanda emerged in the top 50 countries of the World Bank’s Doing Business report for the first time. Globally, Rwanda is 41st on the “ease of doing business” ranking, compared to the 56th position in last year’s report. In addition, the country has made 52 reforms over the last decade, bringing significant improvements to the environments of business and investment. Morocco This report ranks Morocco in 69th position with a score of 67.91 points. Therefore, Morocco confirms its position as a leader in North Africa, ahead of: Tunisia (88th), Egypt (128th), and Algeria (166th). The kingdom has also managed to climb to the 3rd rank among the Middle East and North African (MENA) countries – behind the United Arab Emirates (21st) and Bahrain (66th), and, for the first time, ahead of the Sultanate of Oman (71st according to the same report). Kenya Kenya has gained twelve places in the 2018 Doing Business report by coming in at the 80th position, compared to the 2017 report when it was ranked 92nd. “The improvements are driven by the government and the private sector in the business environment. Last year Kenya delivered the highest number of business-related reforms on the African continent”, said Adnan Mohammed, secretary of the Industrialization Cabinet. Botswana While it was marked as the 71st country in the World Bank’s 2017 report, Botswana lowered its status in the 2018 report. It is now ranked at 81 and 5th in Africa. South Africa With a score of 64.89, the 2018 report ranks South Africa 82nd. This country has always been the most powerful country in Africa in terms of touristic attraction, as millions of tourists visit South Africa each year to enjoy its beauty. Zambia According to the Doing Business report of 2018, Zambia has gained 13 places – moving from the 98th position to the 85th position. Currently, Zambia has been listed as one of the world’s top 10 economies with the most notable improvements. Tunisia Tunisia, now ranked at 88, has dropped 11 places from its spot at 77 in the 2017 report. Following behind Morocco, the cradle of the Arab Spring is the 2nd country in Doing Business in North Africa. However, once being ranked in 42nd place, the country has dropped 46 spots in just seven years. Seychelles Seychelles scored 61.41 in the 2018 Doing Business report, which placed the country in the 95th position. With a population of 94,913 inhabitants, the country came in 93rd in the 2017 report. By removing administrative barriers and offering a variety of economic incentives, the government has worked hard to create a strong environment for investment. The private sector is playing an important role in the economic dynamism that the country is experiencing. Lesotho With a score of 60.42, Lesotho is ranked in the 104th position worldwide and 10th in Africa. Government officials are making efforts to improve the foreign investment rates in the country, mainly in the tertiary and mining sectors. However, efforts are also oriented to new dynamic sectors such as news technologies and services. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Music Used in This Video: ►https://goo.gl/TIXONx ►https://goo.gl/tQ2HCf ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ► For copyright matters relating to our channel please contact us directly at :https://goo.gl/wRjjJU ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ For Ads Placement & Sponsorship, email us :[email protected] Hirwa10™ Thanks for watching! ❤
Views: 4313 Hirwa 10
Let Africa Trade With Africa
In Africa, non-tariff trade barriers raise transaction costs and limit the movement of goods, services, people and capital across borders. To further development, African governments must embrace regional integration, break down these barriers and help Africans trade with each other.
Views: 54442 World Bank
Why should Africa invest in people now?
A conversation with Ritva Reinikka, Director of Human Development, Africa Region, The World Bank. For more information, please visit: http://www.worldbank.org/afr/hd
Views: 2281 World Bank
Chinese firm partners with world bank to offer affordable housing in Africa
The Chinese multinational construction and engineering company, CITIC Construction Co. Ltd and IFC, a member of the World Bank Group launched a $300 million investment platform. This is to develop affordable housing in Sub Sahara Africa.
Views: 286 New China TV
Africa Leapfrogging: Investing in Innovation, Infrastructure
Scaling up local innovation and local solutions will take bridging the gap through infrastructure; distributing new skills and new ways of thinking, and letting go of trying to make Africa conform to the old patterns of growth and development.
Views: 3515 World Bank
IMF and World Bank's perspective on Africa
(www.abndigital.com) Each Spring, the World Bank-IMF Development Committee and the IMF's International Monetary and Financial Committee meet to discuss progress on the work of the World Bank and IMF. Amongst other things, discussions focus on the global economy, international development, and the world's financial markets. Joining ABN now from Nairobi on the IMF and World Bank's perspective on Africa is Wolfgang Fengler, Lead Economist at the World Bank in Kenya.
Views: 922 CNBCAfrica
Africa's Cities: Opening Doors to the World
Cities in Africa are growing rapidly and have a critical role to play in their countries’ economic growth. Improving conditions for people and businesses in African cities by aggressively investing in infrastructure and reforming land markets is the key to accelerating economic growth, adding jobs, and improving city competitiveness. Download the report: http://www.worldbank.org/africascities *** TRANSCRIPT 15 years ago, Rose moved from her rural village to the capital city in search of a better life. She is one of many people moving to a city to be close to opportunities. But her home is in a slum with access to few jobs and services. To harness shared prosperity, Rose and her family need productive jobs, affordable housing, and efficient infrastructure. Urban population in Africa will double within the next 25 years and reach 1 billion people by 2040. The continent has a one in a lifetime opportunity to get urbanization “right”. In Africa, concentration of people in cities has not been accompanied by economic density. Typical African cities share three features that constrain urban development: they are crowded, disconnected, and therefore costly. Compared to Asia and Latin America, Africa’s cities have 40 percent fewer neighbors to interact with and 20 percent more fragmentation near the city center. African cities are also 29 percent more expensive than cities in countries at similar income levels. To grow economically, as they are growing in size, Africa’s cities must open their doors to the world. They need to specialize in manufacturing and produce more goods and services for trade on regional and international markets. And to achieve that, cities need to offer incentives to investors through agglomeration and higher productivity. Cities also must become more livable to their residents by offering services, amenities, and housing for the poor and the middle class. African governments can create cities that work by reforming land markets and regulations and by prioritizing early and coordinated investments in neighborhood infrastructure and services. Cities in Africa are growing rapidly. Productive and livable cities will open Africa’s doors to the world.
Views: 16410 World Bank
Invest in agriculture to reduce poverty -- World Bank
World Bank's special envoy for climate change Andrew Steer discusses the development of Africa's agricultural industry.
Views: 1465 CreamerMedia
World Bank: African growth yet to deliver change, investment programmes need review
Despite several years of growth, 40% of the Africa's population is still classified as poor. According to Francesco Ferreira, the chief economist for Africa, several development plans and project have not been aligned to the real needs and realities of most people on the continent. Samuel Ssettumba reports. For more news visit http://www.ntvuganda.co.ug Follow us on Twitter http://www.twitter.com/ntvuganda Like our FaceBook page http://www.facebook.com/NTVUganda
Views: 143 NTVUganda
World Bank funding Somalia's recovery
Somalia has been praised for its economic reforms in recent years. The World Bank has announced an $80 million grant to help the country strengthen its financial sector and improve service delivery. CGTN's Abdulaziz Billow has more from Mogadishu. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
Views: 10137 CGTN Africa
MIGA, World Bank interview with Herta von Stiegel on investments in Africa
MIGA interview with Herta von Stiegel on investments in Africa
Views: 1368 MIGA
World Bank forecasts 7.2% growth for Tanzania
The World Bank forecasts that Tanzania will see the second-highest growth in Africa this year, beaten only by Ethiopia. President John Magufuli is investing in ports and railways, among other infrastructure projects to ease movement of goods and people. And as Dan Ashby reports, there may be signs of more investor confidence. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
Views: 2592 CGTN Africa
World Bank has lowered its projected growth for South Africa for this year
The World Bank has lowered its projected growth for South Africa for this year. Real GDP growth is now only expected to expand by 1-point-3-percent. That's down from the Bank's June estimate of 1-point-8-percent. For more on this, we are joined by economist Maudi Lentsoane from Lehumo Investments. Courtesy #DStv403
Views: 217 eNCA
Africa urged to invest in skills development at IMF/WB Spring summit
The the World Bank and International Monetary Fund annual SPRING meeting in Washington is looking at the State of the Africa Region: Skills for Success in a Transforming Africa. The discussion is looking at the main trends shaping economic development on the continent. We cross live to that discussion. For more news, visit: http://www.sabc.co.za/news
Views: 170 SABC Digital News
World Bank upbeat about SA’s 2019/20 growth outlook
The world bank released its twelfth economic update for South Africa and forecast that the country's growth will accelerate to 1.3% this year and 1.7% in 2020. It adds that to grow sustainably faster we need to address the skills gap which the organisation warns may not be realised with the free tertiary education. Marek Hanusch, Senior Country Economist at World Bank joins Business Day TV for more insight into the perspective on the South African growth story.
Views: 125 Business Day TV
World Bank Africa Economic Growth
The World Bank reports that economic growth in sub-Saharan Africa is likely to slip to 1.6% this year, its lowest level in two decades.
Views: 742 TV2Africa
From Internet Access to Digital Economy, World Bank Focuses on Africa's Youth
With a focus on Africa's youth, World Bank staff and development specialists connected with young people in more than 30 countries to mark "End Poverty Day." They discussed how to harness the potential of young people. VOA correspondent Mariama Diallo reports. Originally published at - https://www.voanews.com/a/from-internet-access-to-digital-economy-world-bank-focuses-on-africas-youth/4620039.html
Views: 192 VOA News
World View 30th August 2016 - African Investment: World Bank's stamp approval
World View 30th August 2016 - African Investment: World Bank's stamp approval. SUBSCRIBE to our YouTube channel for more great videos: https://www.youtube.com/user/KTNClassics Follow us on Twitter: https://twitter.com/KTNNews Like us on Facebook: https://www.facebook.com/KTNNewsKenya For more great content go to http://www.standardmedia.co.ke/ktnnews and download our apps: http://std.co.ke/apps/#android KTN News is a leading 24-hour TV channel in Eastern Africa with its headquarters located along Mombasa Road, at Standard Group Centre. This is the most authoritative news channel in Kenya and beyond.
Views: 198 KTN Home
World Bank Projects Growth in Africa's Economy
The World Bank has predicted growth of 4.7 % in 2014, rising to 5.1 % in the next two years. These are the headline numbers for the World Bank Global Economic Prospects Report, which indicates that sub-Saharan Africa is shaking off the sluggish first quarter of this year. From Washington, CCTV's Daniel Ryntjes reports.
Views: 550 CGTN Africa
World Bank's report on SA economy: Dr. Petrus de Kock
South Africa's economy is not going to perform as expected before. That's according to the World Bank's Global Economic Prospects report. The report indicates that the country's real GDP growth will expand by 1.3% in 2019 instead of 1.8% as initially predicted. While the GDP outlook has seen a downward revision, this happens in a global context where international trade and investment are moderating. Furthermore, the World Bank expects growth in emerging market and developing economies to lose momentum, and is projected to reach 4.2 percent this year. To help us understand this is Brand South Africa's GM for Research, Dr. Petrus de Kock. For more news, visit: sabcnews.com
Views: 608 SABC Digital News
Investment key to raising South Africa’s lagging growth potential – World Bank
The World Bank says raising private investment in South Africa will be critical to increasing the country’s growth potential above its current estimate of only 1.3%, which is well below the National Development Plan’s (NDP’s) aspiration of 5.4% a year. In its ninth South Africa Economic Update, the bank forecasts that the country will grow by just 1.1% in 2017, after expanding by a projected 0.4% in 2016.
Views: 39 CreamerMedia
World Bank urges East Africa to accelerate electricity cooperation
The World Bank is urging regional governments in East Africa to accelerate their cooperation on electricity. The lender says electricity exchanges will bring down the cost of Energy and also improve access, a move likely to speed up economic growth in the wider East Africa region. CGTN's Michael Baleke reports from Kampala. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
Views: 2952 CGTN Africa
IDA in Africa
http://www.worldbank.org/ida The International Development Association is meeting Africa's development needs and investing in Africa's future.
Views: 1974 World Bank
UFRGSMUN 2013 - World Bank - Infrastructure investments in the Middle East & North Africa
UFRGSMUN 2013 will be held from October 30th up to November 3rd in Porto Alegre, RS, Brazil. This year, the Board of Executive Directors of the World Bank will discuss infrastructure investments in the Middle East & North Africa. More information at http://www.ufrgs.br/ufrgsmun/2013/ This video gathers clips from promotional videos of the World Bank, JcraneInc and Qatar Future 2022 World Cup. Background music: Your Hand in Mine by Explosions in the Sky
Views: 734 Matheus Hoscheidt
Africa Investment Forum: Where opportunities & capital collide
The African Development Bank is launching the Africa Investment Forum —a meeting place for investors interested in what Africa has to offer. AfDB President Akinwumi Adesina, South African Minister of Finance and Gauteng Premier David Makhura discuss “Africa Investment Forum – An Opportunity for Collaborative Leadership”.
Views: 3521 CNBCAfrica
Africa's Infrastructure: A Time for Transformation
This short multimedia production explores the challenges facing Africa stemming from poorly developed infrastructure. It also shows how investing in infrastructure will boost economic growth and benefit development. It draws on findings of the Africa Infrastructure Country Diagnostic (AICD), http://www.infrastructureafrica.org
Views: 11798 World Bank
Child marriages cost Africa up to $63 Billion: World Bank
Child marriage will cost African countries up to 63 Billion US dollars in lost earnings and human capital. That's according to a new World Bank report launched in Ghana this week. The report titled Educating Girls and Ending Child Marriage: A Priority for Africa indicates that more than three million or one-third of girls in Sub-Saharan Africa marry before the age of eighteen each year. For more news, visit: sabcnews.com
Views: 381 SABC Digital News
The World Bank has backed SA's focus on infrastructure investment
The World Bank has backed SA's focus on infrastructure investment, rather than consumption, to grow its economy. World Bank president, Jim Yong Kim, said ahead of the World Bank Group-International Monetary Fund (IMF) spring meetings this week that the bank will explore how it can help South Africa's infrastructure drive. For more News visit: http://www.sabc.co.za/news Follow us on Twitter: https://twitter.com/SABCNewsOnline?lang=en Like us on Facebook: https://www.facebook.com/SABCNewsOnline
Views: 93 SABC Digital News
Sub-Sharan Africa Growth: World Bank projects increase between 2017 and 2019
The World Bank has projected a rise in economic growth for sub-Saharan Africa between this year and 2019. In its latest Africa Pulse report, the bank points to better commodity prices and improved global conditions. It projects the region will grow at 2.6 percent this year, 3.2 percent next year and 3.5 percent in 2019. Growth in sub-Saharan Africa was an estimated 1.3 percent in 2016. The bank says that figure was the worst for the region in more than two decades -- mostly because of poor performance in Nigeria, South Africa and Angola. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
Views: 385 CGTN Africa
Transforming Agriculture for Improved Livelihoods in Eastern Africa
http://www.worldbank.org/en/region/afr - Four east African countries -- Ethiopia, Kenya, Tanzania and Uganda -- are collaborating proactively to marshal the power of science and tackle common problems facing farmers​.
Views: 27545 World Bank
World bank predicts economic growth for South Africa
The World Bank expects South Africa’s real growth in gross domestic product to accelerate this year. The bank says the growth forecast is due to a rise in local business and consumer confidence, global growth and benign inflation
Views: 381 eNCA
The World Bank has revised down its growth outlook for South Africa for this year down.
The World Bank has revised down its growth outlook for South Africa for this year down. It cited persistant labour unrest as a threat to investment into the country. This was heard at the release of its financial inclusion report - which looks at the extent to which South Africans have access to the financial system. The downward revision came after Statistics South Africa reported that growth slowed to its weakest since the country's 2009 recession, quartely growth slowed to just one percent during the first quarter of 2013.
Views: 78 SABC Digital News
This is What It’s All About: Investing in Greener and Cleaner African Cities
As the first regional host of the One Planet Summit, Nairobi will host global leaders from the public, private, and civil society sectors. While the Summit will showcase Kenya – and Nairobi’s – impressive progress towards sustainability, it will also provide a uniquely African perspective on the Summit’s mission: to speed up the global transition to a low-carbon economy. IFC analysis found that Nairobi has a $8.5 billion climate investment opportunity leading up to 2030.
Views: 850 World Bank
World Bank, IMF SPRING summit looks at the State of Africa Region
The the World Bank and International Monetary Fund annual SPRING meeting in Washington is looking at the State of the Africa Region: Skills for Success in a Transforming Africa. The discussion is looking at the main trends shaping economic development on the continent. We cross live to that discussion. For more news, visit: http://www.sabc.co.za/news
Views: 310 SABC Digital News
NEW World Bank Brazil, Russia, India, China and South Africa
BRICS bank: 5 emerging powers to announce alternatives to IMF, World Bank https://www.youtube.com/channel/UC1N85MiTQ-N0gsI3XBCCYbw?sub_confirmation=1 Fed up with U.S. dominance of the global financial system, five emerging market powers this week will launch their own versions of the World Bank and the International Monetary Fund. Brazil, Russia, India, China and South Africa --the so-called BRICS countries -- are seeking "alternatives to the existing world order," said Harold Trinkunas, director of the Latin America Initiative at the Brookings Institution. At a summit Tuesday through Thursday in Brazil, the five countries will unveil a $100 billion fund to fight financial crises, their version of the IMF. They will also launch a World Bank alternative, a new bank that will make loans for infrastructure projects across the developing world. The five countries will invest equally in the lender, tentatively called the New Development Bank. Other countries may join later. The BRICS powers are still jousting over the location of the bank's headquarters -- Shanghai, Moscow, New Delhi or Johannesburg. The headquarters skirmish is part of a larger struggle to keep China, the world's second-biggest economy, from dominating the new bank the way the United States has dominated the World Bank. The bloc comprises countries with vastly different economies, foreign policy aims and political systems -- from India's raucous democracy to China's one-party state. Whatever their differences, the BRICS countries have a shared desire for a bigger voice in global economic policy. Each has had painful experiences with Western financial dominance: They've contended with economic sanctions imposed by Western powers. Or they've been forced to make painful budget cuts and meet other strict conditions to qualify for emergency IMF loans. Now, says Thomas Wright, a fellow at Brookings' Project on International Order and Strategy, "they want a safety net if they fall out with the West." Developing countries have also been frustrated because the U.S. Congress has refused to approve legislation providing extra money to help the IMF make more loans to countries in trouble. The money is part of a broader reform program that would give China and other developing countries more voting power at the IMF. Uri Dadush, an economist with the Carnegie Endowment for International Peace, sees no problem with the BRICS countries' development bank and financial crisis fund. But he worries that the five countries' decision to go outside of existing institutions provides more evidence of the "fracturing of the postwar (economic) system that gave us so much peace and prosperity. The system has not been able to adapt to the new reality, the rise of the new powers." The IMF and the World Bank seem to be taking the new challengers in stride. "All initiatives that seek to strengthen the network of multilateral lending institutions and increase the available financing for development and infrastructure are welcome," said IMF spokeswoman Conny Lotze. "What is important is that any new institutions complement the existing ones." Answering a question about the BRICS development bank earlier this month, World Bank President Jim Kim said: "We welcome any new organizations ... We think that the need for new investments in infrastructure is massive, and we think that we can work very well and co-operatively with any of these new banks once they become a reality." http://www.ctvnews.ca/business/brics-bank-5-emerging-powers-to-announce-alternatives-to-imf-world-bank-1.1913479
Views: 6940 Real Thing TV
World Bank says Africa's growth to slow down
Africa's economic growth is at its worst in 20 years, according to a World Bank report. The study, Africa Pulse, recommends that more attention is paid to Agriculture as its growth has also stagnated over time. Watch more NTV Kenya videos at ntv.co.ke and nation.co.ke. Follow @ntvkenya on Twitter and like our page on Facebook: NTV Kenya.
Views: 419 NTV Kenya
World Bank says growth rates in Africa lowest since 2009
Projections show economic growth in Africa will drop to 3.7% in 2015 from 4.6% in 2014. That's the lowest growth rate since 2009. These figures come from the World Bank's new Africa's Pulse report.
Views: 237 CGTN Africa