World Bank grants war-torn Yemen $150 million for food, water, healthcare
MENA 1 min read
Yemen will receive $150 million from the World Bank to provide essential services. Yemen is suffering from the world s worst humanitarian crisis according to the UN [Getty Images]
The World Bank on Wednesday allocated $150 million for war-torn Yemen to bolster access to basic healthcare, nutrition, and water and sanitation services. Out of a total population of about 29 million, about 20 million Yemenis are food insecure and at risk of malnutrition, with two-thirds unable to afford enough food and water and sanitation services. Over four million people have fled their homes, the World Bank said in a statement after announcing the grants.
World Bank says will boost COVID-19 vaccine funding to $20 bln
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Mid-Year Review: Where Are We Going? - Investing Daily
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Regulators in China have in the last few months ramped up scrutiny on the country s tech giants such as Alibaba and Tencent. The companies now face fines and new rules aimed at reining in monopolistic business practices. There s certainly a logic to clamping down on monopolies and some of the abuses of power that we see from some of the companies. But they ve gone too far and basically scared innovators from innovating, said Scott Kennedy, senior advisor and trustee chair in Chinese business and economics at the Center for Strategic and International Studies.
Kennedy explained to CNBC s Street Signs Asia that the private sector is an important source of productivity gains that fuel much of China s economic growth.
WB approves USD 800mn new loan to Pakistan
ANI
30 Jun 2021, 09:37 GMT+10
Washington DC [US], June 30 (ANI): The World Bank on Tuesday approved USD 800 million in financing for two programs in Pakistan the Pakistan Program for Affordable and Clean Energy and the Second Securing Human Investments to Foster Transformation.
A World Bank (WB) release said that the USD 400 million Pakistan Program for Affordable and Clean Energy (PACE) focuses on measures to improve the financial viability of the power sector and support the country s transition to low-carbon energy. Power sector reforms are critical to resolving Pakistan s fiscal challenges, said Rikard Liden, World Bank Task Team Leader for the PACE program. Decarbonizing the energy mix will reduce the dependence on fossil fuel imports and vulnerability to price fluctuations because of movement in exchange rates. PACE prioritizes action on such reforms, which must be sustained to address circular debt and set the power sector on