IFC, a member of the World Bank Group, and the IFC Asset Management Company are investing $27 million in Souq, one of the largest e-commerce platform in the Middle East and North Africa (Mena).
The investment will support the comp
The United Arab Emirates (UAE) has been ranked first among Arab countries in the World Bank's "Ease of Doing Business for the year 2016" report.
The World Bank report, which measures the performance of 189 states in
Egypt will receive a $3 billion loan from the World Bank in instalments over the next three years to support the state's budget, the finance minister said on the sidelines of an economic conference on Wednesday.
Egypt expects to receive $1.5 billion in loans from the World Bank and African Development Bank (AfDB) by the end of 2015, Prime Minister Sherif Ismail said, as part of efforts to boost foreign currency reserves and bolster the economy.
International agencies plan to raise billions of dollars to tackle the worsening refugee crisis in the Mena region by issuing new bonds to help displaced people and support reconstruction in the war-torn region.
The United Nations
The world's rich countries most likely will be able to reach the goal of providing $100 billion a year by 2020 to help poor countries combat and adapt to climate change, as the result of increased pledges made in Lima, key ministers said on
The World Bank cut its 2015 and 2016 growth forecasts for developing East Asia and Pacific, and said the outlook was clouded by the risk of a sharp slowdown in China and possible spillovers from expected increases in US interest rates.
The World Bank-linked International Finance Facility for Immunisation Co. (IFFIm) has priced a $200 million three-year sukuk at 14 basis points over the London Interbank Offered Rate (LIBOR), according to documents from lead arrangers on Thursda
While child mortality rates worldwide have plummeted to less than half of what they were in 1990, around 16,000 children under five still die every day, according to a new report.
Under-five deaths have dropped from 12.7 million p
The World Bank (WB) Group`s Global Islamic Finance Development Center (GIFDC) has announced the launch of its annual Symposium on Islamic Economics and Finance.
The symposium is organized by GIFDC in partnership with Borsa İstanbu