Explore

Rapid ReadRapid Read
IFC Issues Inaugural Tanzanian Shilling Bond to Boost SME Lending

IFC Issues Inaugural Tanzanian Shilling Bond to Boost SME Lending

The International Finance Corporation (IFC), a member of the World Bank Group, has issued its inaugural Tanzanian shilling (TZS) bond, raising TZS 265.2 billion (equivalent to US$100 million). This marks the largest TZS-denominated issuance to date in international capital markets. The bond aims to mobilize international capital to support a local currency financing facility for NMB Bank, enabling the expansion of lending to micro, small, and medium-sized enterprises (MSMEs) across Tanzania. This initiative is part of the World Bank Group's broader strategy to reduce foreign exchange risk for businesses and investors by providing local currency financing, which the IFC has offered in over 65 currencies since fiscal year 2021.
TrendlineTrendline
International Finance Corporation Backs 4G Capital to Address $330 Billion MSME Credit Gap in Sub-Saharan Africa

International Finance Corporation Backs 4G Capital to Address $330 Billion MSME Credit Gap in Sub-Saharan Africa

International Finance Corporation Backs 4G Capital to Address $330 Billion MSME Credit Gap in Sub-Saharan Africa
TrendlineTrendline
NPIF II North West Fund Manager Secures Additional £40 Million Funding, Reaching 100th Business Milestone

NPIF II North West Fund Manager Secures Additional £40 Million Funding, Reaching 100th Business Milestone

NPIF II North West Fund Manager Secures Additional £40 Million Funding, Reaching 100th Business Milestone
Rapid ReadRapid Read
World Bank Group Emphasizes AI for Economic Development and Seeks AI Governance Manager

World Bank Group Emphasizes AI for Economic Development and Seeks AI Governance Manager

The World Bank Group, established in 1944, continues its mission to reduce poverty and foster sustainable development globally. The institution provides financial resources, research, policy advice, and capacity building to developing countries to enhance economic growth and quality of life. A key focus for the World Bank is the integration of artificial intelligence (AI) into development strategies. The organization views AI as a significant tool for advancing development agendas in emerging economies. In line with this emphasis, the World Bank Group is actively seeking a Manager for Data, Information & AI Governance. This role is crucial for developing and championing AI and data governance frameworks that support responsible, scalable, and high-impact use of data and AI within the institution and for its global initiatives. The manager will also establish cross-functional AI and data governance councils and ensure compliance with legal and regulatory requirements while fostering innovation.
TrendlineTrendline
IFC and Banreservas Partner to Bolster Trade Finance in the Dominican Republic with $100 Million Credit Line

IFC and Banreservas Partner to Bolster Trade Finance in the Dominican Republic with $100 Million Credit Line

IFC and Banreservas Partner to Bolster Trade Finance in the Dominican Republic with $100 Million Credit Line
TrendlineTrendline
IFC and Banreservas Partner to Boost Trade Finance for Dominican SMEs with $100 Million Credit Line

IFC and Banreservas Partner to Boost Trade Finance for Dominican SMEs with $100 Million Credit Line

IFC and Banreservas Partner to Boost Trade Finance for Dominican SMEs with $100 Million Credit Line
Rapid ReadRapid Read
World Bank Group Leaders Discuss Data's Role in India's Development Goals

World Bank Group Leaders Discuss Data's Role in India's Development Goals

The World Bank Group is actively participating in discussions regarding the role of data in achieving India's development goals, specifically its vision for 'Viksit Bharat' (Developed India) by 2047. Haishan Fu, Chief Statistician and Director of the Development Data Group at the World Bank Group, is a key figure in these discussions, advocating for the power of data to improve lives. Luis Felipe López-Calva, Senior Advisor in the Prosperity Vice Presidency at the World Bank Group, also contributes his expertise, drawing on over 25 years of experience in advising international institutions and governments on poverty and inequality. These discussions highlight the World Bank's commitment to leveraging data for evidence-based policymaking and development strategies, emphasizing the importance of robust statistical frameworks and innovative data solutions to support national development agendas.
Rapid ReadRapid Read
IDAC and ASCA Partner with Universities to Train Aeronautical Personnel for Cabo Rojo International Airport

IDAC and ASCA Partner with Universities to Train Aeronautical Personnel for Cabo Rojo International Airport

The Dominican Institute of Civil Aviation (IDAC) and the Superior Academy of Aeronautical Sciences (ASCA) have signed two inter-institutional cooperation agreements with the Autonomous University of Santo Domingo (UASD) and the Catholic Technological University of Barahona (Ucateba). These agreements aim to develop the skills of aeronautical personnel who will provide services at the new Cabo Rojo International Airport in Pedernales. According to a press release from IDAC, ASCA will contribute its academic offerings, higher technical programs, specialized instructors, and training equipment, adhering to the standards set by Civil Aviation Law no. 491-06 and its modification, Law no. 67-13. The initiative prioritizes the admission of students and graduates from UASD and Ucateba into the new aeronautical terminal as part of the recruitment process for Cabo Rojo. Both universities will provide their facilities and services in Barahona, including virtual and smart classrooms, to support the aeronautical traini...
TrendlineTrendline
Hawaii DBEDT Reaffirms Partnership with Japanese Retailer to Boost Local Business Exports

Hawaii DBEDT Reaffirms Partnership with Japanese Retailer to Boost Local Business Exports

Hawaii DBEDT Reaffirms Partnership with Japanese Retailer to Boost Local Business Exports
Rapid ReadRapid Read
IDAC and ASCA Partner with Universities to Train Aeronautical Personnel for Cabo Rojo Airport

IDAC and ASCA Partner with Universities to Train Aeronautical Personnel for Cabo Rojo Airport

The Dominican Institute of Civil Aviation (IDAC) and the Advanced Academy of Aeronautical Sciences (ASCA) have signed two inter-institutional cooperation agreements with the Autonomous University of Santo Domingo (UASD) Barahona campus and the Catholic Technological University of Barahona (UCATEBA). These agreements aim to develop the competencies of aeronautical personnel who will serve at the International Airport Cabo Rojo in Pedernales. Under these agreements, ASCA will provide its academic offerings, higher technical programs, specialized instructors, and training equipment, adhering to the standards of Civil Aviation Law Number 491-06 and its modification by Law Number 67-13. Additionally, IDAC will prioritize the recruitment of students and graduates from UASD and UCATEBA for positions at the new aeronautical terminal. The universities, in turn, will provide their facilities and services in Barahona, including virtual and smart classrooms, to support aeronautical training in the Southern region. The...
Rapid ReadRapid Read
International Symposium Addresses Recovery and Use of Illicitly Transferred Assets

International Symposium Addresses Recovery and Use of Illicitly Transferred Assets

An international symposium, the Third Symposium on Supranational Responses to Corruption, was held in Vienna on November 9-10. Organized by the World Bank Group in collaboration with partners such as the Basel Institute on Governance and the European Law Institute, the event gathered representatives from government authorities, international organizations, financial institutions, academia, and experts. The central theme of the symposium was "Turning Illicit Gains into Development Outcomes," focusing on mechanisms to recover resources lost to corruption and channel them into development financing. Discussions covered asset recovery and return, the sharing of foreign bribery-related penalties, and financial remedies imposed by multilateral development banks. Participants also examined transparency in the allocation and use of returned funds, oversight of expenditures, civil society involvement, and safeguards against renewed corruption. Uzbekistan's experience with its 2030 Vision Fund, which directs returne...
Rapid ReadRapid Read
Dominican Republic Aviation Authorities Partner with Universities to Train Aeronautical Personnel for Cabo Rojo International Airport

Dominican Republic Aviation Authorities Partner with Universities to Train Aeronautical Personnel for Cabo Rojo International Airport

The Dominican Institute of Civil Aviation (IDAC) and the Superior Academy of Aeronautical Sciences (ASCA) have signed two inter-institutional cooperation agreements with the Autonomous University of Santo Domingo (UASD) Barahona campus and the Catholic Technological University of Barahona (Ucateba). The primary objective of these agreements is to develop the competencies of aeronautical personnel who will provide services at the Cabo Rojo International Airport in Pedernales. The agreements were signed by Igor Rodríguez, Director General of IDAC; Marco Antonio Pérez Pérez, Rector of Ucateba; Ana Lucía Beltré, Director of the UASD Barahona campus; and Clara Fernández, Director of ASCA. IDAC has affirmed its commitment to training the human resources needed for Dominican aviation, offering opportunities to young people in the southern region and ensuring qualified personnel for the new airport. The universities involved have praised the initiative, recognizing it as a significant opportunity for professional ...