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Poverty gaining ground in Afghanistan

According to the Poverty Status Update report, a joint effort of the Government of Afghanistan and the World Bank, poverty has gained grounds strongly amidst security and political transition. ” The transition period between 2011-12 and 2013-14 leading to the

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World Bank approves $120mn to support Afghanistan

The World Bank’s Board of Executive Directors today approved $120 million in grants for Afghanistan and discussed the 2017-2020 Country Partnership Framework (CPF) that sets out the institution’s plans for supporting the country in ending poverty. The $120 million in

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World Bank Group and Kabul Municipality launch efficient construction permit system

IFC, a member of the World Bank Group, has helped Afghanistan’s Kabul Municipality develop a simpler, more efficient construction permit system that has significantly cut red tape and processing times, and increased private investment in the city’s construction sector. The

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Afghanistan’s growth rate projected at 2.9% in 2017

According to World Bank’s twice-a-year South Asia Economic Focus, which was released on Monday, Afghanistan’s economic growth rate is expected to only marginally increase from 1.9% in 2016 to 2.9% in 2017. The report has cited persisting political and security

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World Bank faces rivalry from newly launched AAIB

China has once again shown its economic strength and solidifies its global status by launching the Asian Infrastructure Investment Bank (AAIB), which is viewed as a rival to the World Bank. The AAIB aims to rebalance the global development finance

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Afghan students enjoy a roof over their heads at school

Not long ago, the 420 students of the Afghan Mena Elementary School had to study in an open lot because their school did not have enclosed classrooms. Today, students sit in classrooms in a two-story building in Jalalabad city, the

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ADB suggests changing the CASA 1000 route

The Asian Development Bank has approached (ADB) Da Afghanistan Breshan Sherkat (DABS), Afghanistan’s national utility company, to change the path of the CASA 1000 electrical lines. The original path of the CASA 1000 project was intended to go from Kunduz

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Road Reconstruction in Post-Conflict Afghanistan: A Cure or a Curse?

After the fall of the Taliban regime in 2001, the United States and the international community announced their full support for rebuilding Afghanistan’s infrastructure and bringing a sustained peace to the war-torn country. Since then, Afghanistan has become a major

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World Bank Chief focuses on eliminating poverty

World Bank Chief Jim Yong Kim, who took over the position at the World Bank last year, has set out his vision for organization—to eliminate poverty by 2030. He was hopeful that there would be more aid forthcoming to help

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Central Bank of Afghanistan installs Creditinfo system

The World Bank was recently entrusted by the Central Bank of Afghanistan to issue an international tender for the setting up of its financial information system, which was won by the Creditinfo Group. Reynir Grétarsson, the CEO of Creditinfo, signed

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World Bank pledges USD 120mn for horticulture projects in Afghanistan

According to the Ministry of Agriculture, Irrigation and Livestock officials, the World Bank will fund horticulture development projects at a cost of USD 120mn. The fund will be spent over the next six years in Kabul, Kapisa, Panjshir, Nangarhar, Laghman,

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World Bank sees China growing 8.4 percent in 2013

(Reuters) – The World Bank raised its 2013 economic growth forecasts for China and developing East Asia on Wednesday, and said the region remained resilient despite the lackluster performance of the global economy. “For 2013, we expect the region to

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The World Bank’s optimism and concerns about Afghanistan

The World Bank in its latest report has reflected on the achievements that Afghanistan has witnessed in the areas of public health, education and rural development. The report also warns of the challenges that Afghanistan might face in regards to

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Emphasis on international assistance to Afghanistan at the IMF-WB annual meeting

Minister of Finance Hazrat Omar Zakhilwal highlighted the importance of foreign aid to Afghanistan, as the nation is entering the transmission period, with the foreign troops pulling out of Afghanistan, at the International Monetary Fund-World Bank annual meetings held in

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World Bank lowers China’s growth projection

The World Bank’s forecast of China’s economic growth went down from 8.2% to 7.7% amid the dwindling economy of the nation caused by economic problems in two of its key markets, the Eurozone and the US. The weak demand for

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India’s Kaushik Basu appointed as World Bank Chief Economist

Former economic adviser to the Indian government, Kaushik Basu is named the chief economist of the World Bank. Mr. Basu holds a doctorate from the London School of Economics and founded the Center for Development Economics at the Delhi School

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Denmark pledged USD 300 million to Afghanistan Ministry of Education

Minister of Education Ghulam Farooq Wardak inked a USD 300mn contract with Denmark on Wednesday. “A major portion of the aid money would be spent towards implementation of projects aimed at enhancing capacity at this ministry and strengthening and improving

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World Bank: Developing nations face weak growth

Developing nations should brace themselves for weak growth and “tougher times”, the World Bank has warned. It said that there may be “a long period of volatility in the global economy” as the eurozone debt crisis escalates. The bank forecast

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World Bank job should go to Okonjo-Iweala, say ex-staff

A group of former World Bank officials has written a letter backing Nigeria’s Finance Minister, Ngozi Okonjo-Iweala, to be its next president. Traditionally the post is given to the candidate put forward by the US, which this time is Dr

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