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World Bank Projects Five Percent Growth Rate For Africa

AFRICANGLOBE - Medium-term growth prospects for Africa remain strong and should be supported by a pick-up in the global economy, still high commodity prices, and increased investment. Since 2000, investment in the region has increased steadily from 15.9 percent of GDP to over 22 percent of GDP in 2012.

How Will African Economies Fare in 2013?

AFRICANGLOBE - In 2013, Africa is likely to maintain its decade-old pace setting annual average economic growth rate of 5 percent or more, according to estimates from the World Bank, the International Monetary Fund and the Africa Development Bank. The strong economic growth will likely extend beyond 2013 as Africa benefits from natural resource boom, strong internal demand by rapidly growing middle class.

World Bank Launches $4bn fund to Invest in Ethiopia

AFRICANGLOBE - The World Bank is set to pump $4 billion into Ethiopia in the coming four years in order to enhance competitiveness and employment generation through its country partnership strategy. Launching the new strategy on Wednesday in Addis Ababa, the bank said the money will be used to build on the progress achieved by Ethiopia during the past five years.

Ethiopia Experiencing a 10.6% Growth Since 2004 – World Bank

AFRICANGLOBE - The World Bank Report says “Ethiopia has experienced strong and generally broad-based real economic growth of around 10.6% on average” between the...

Report Details Shocking Racism at the World Bank

AFRICANGLOBE - The modern mission of the World Bank is to alleviate world poverty, but although Asia and Africa are home to 80 percent of the world’s poor, the racism of the bank is so deeply entrenched and pervasive that the nations of Africa have virtually no say over the bank’s policies and actions and blacks have no presence in its internal operations, according to an article by former World Bank officer Phyllis Muhammad.

Africa: Ripe for investment

AFRICANGLOBE - When it comes to investing around the globe, most investors take a detour around Africa, but experts say that's a huge mistake. Over...

World Bank Must Address Human Impact of its Policies – HRW

AFRICANGLOBE - The World Bank should incorporate human rights in its revised policies as a key component of fulfilling its mission to eradicate poverty, Human Rights Watch and the Center for International Environmental Law (CIEL) said today.

Ethiopia: A Single Digit Inflation by All Means

AFRICANGLOBE - Ethiopia has recorded an impressive drop in its inflation rate from 19 percent in September to 15.8 per cent in October, after...

Trade Barriers Cost Africa U.S.$20 Billions Yearly

African states including the East African Community (EAC) member states have been urged to dismantle trade barriers in a move that would enable them...

Africa’s Mineral Wealth Hardly Denting Poverty Says World Bank

Strong economic growth in the past decade among African countries rich in oil and minerals has failed to make a significant dent on their...

World Bank Refuses to Stop Funding African Land Grabs

The World Bank has rejected a call to suspend its involvement in large scale agricultural land acquisition following the release of a major report...

African Land Sold in Last Decade Could Grow Enough Food to...

World Bank must freeze investments to protect poor people from land grabs Land eight times the size of the UK was sold off globally in...

World Bank Approves $1.15 Billion Interest Free Loan for Ethiopia

The World Bank has endorsed a $1,15 billion interest free loan to Ethiopia under its country partnership strategy (CPS) that will help the Horn...

Africa a Top Priority Says World Bank

Africa is top priority for the World Bank, the group's new president Jim Yong Kim said in Tshwane on Thursday. "I've worked in Africa. Africa...

World Bank Warns Rwanda On Economic Growth

The World Bank has warned that Rwanda's economic growth could be hurt by external risks like low commodity and mineral prices; and the Euro...

Nigeria Remains Attractive to Investors

Ms. Marie Francoise Marie-Nelly country director for the World Bank, said yesterday in Abuja that despite the current infrastructure challenges facing Nigeria, the country...