6 February 2009
Read all the headlines concerning the international financial institutions from the past week.
African Development Bank:
Lesotho gets aid for power plant, February 6, 2009 (Moneybiz) - The African Development Bank announced on Thursday a $16 million (€12 million) loan and aid package to help Lesotho jumpstart a power plant to provide much-needed electricity to the landlocked country.
AfDB to triple lending to fight financial crisis, by Barry Malone, February 3, 2009 (Reuters UK) - AfDB President Donald Kaberuka told an African Union (AU) summit in Ethiopia the bank would take four steps to support vulnerable nations, including a $1.5 billion (1 billion pound) emergency liquidity fund and a $1 billion trade finance facility.
Asian Development Bank:
ADB seeks more funds amid donor disquiet, by Rosemarie Francisco and Bill Tarrant, February 5, 2009 (Reuters UK) - The Asian Development Bank (ADB) is seeking an expansion in its capital base to lend more to members, but donor nations are pressing for more reform within the bank and maintenance of environmental and other safeguards.
ADB launches $1bn bond sale, by Raphael Minder, February 3, 2009 (Financial Times) - The regional development bank is today expected to price a $1bn, three-year international bond, in an offering managed by Daiwa Securities, Goldman Sachs, Morgan Stanley and UBS.
Asian Development Bank to help Philippines to cut nations power bills, by Siddique Islam, February 2, 2009 (AHN) - The Asian Development Bank (ADB) will fund an energy-efficiency project in the Philippines to cut the nation's power bills The Project includes savings of about $100 million every year in fuel costs and a deferral of an investment of $450 million in power generation and associated network capacity, the ADB said on Monday.
International Monetary Fund:
Supersizing the fund, February 5, 2009 (The Economist) - Doubling the lending capacity of the IMF to $500 billion might seem like a bold idea. But when John Lipsky, the fund’s deputy head, announced its intention to do just that on January 31st, India’s chief economic planner, Montek Singh Ahluwalia, deemed the proposal too modest. Instead, he suggested tripling its members’ IMF quotas, or the capital they provide.
World Bank:
World Bank to Lend Egypt $600 Million to Build Power Station, by Emad Mekay, February 5, 2009 (Bloomberg) - The World Bank will lend $600 million to Egypt to build a 1,300 megawatt power plant in Ain Sokhna on the Red Sea as the country seeks to meet rising electricity demand.
Countries Identified For World Bank's Adaptation Climate Investment Funds, by Siddique Islam, January 30, 2009 (AHN) - Developed and developing country governments have decided which countries will be offered funding under a pilot program from the $6 billion Climate Investment Funds (CIF).