29 August 2008
The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week.
African Development Bank:
ADB to collaborate with Bauchi on projects, by Patience Ogbodo, August 28, 2008 (Vanguard website) - African Development Bank, (ADB) has expressed its determination to collaborate with Bauchi State government towards executing projects that would uplift the living standard of the people in the state
Under the Leadership of AfDB Africa Actively Prepares for the Fifth World Water Forum (Istanbul, March 2009), August 27, 2008 (allAfrica.com) - The 5th World Water Forum (WWF) will take place from March 16-22, 2009 in Istanbul, Turkey. Under the leadership of the African Development Bank (AfDB), Africa is actively preparing its participation to this important event.
Ghana / AfDB Prepares for Third High Level Forum on Aid Effectiveness / Unprecedented Global Consultations on Development Cooperation, August 25, 2008 (APO website) - The High Level Forum on Aid Effectiveness (HLF-3) will take place from 2-4 September 2008, in Accra, Ghana. This meeting is open to journalists and a media centre will be available.
AfDB loans Kenya $540 mln, sees growth at 7 pct, By Daniel Wallis, August 23, 2008 (Reuters website) - The head of the African Development Bank unveiled a $540 million loan for Kenya on Saturday and said he saw east Africa's biggest economy recovering from a post-election crisis to grow at 7 percent.
Asian Development Bank:
Asian Development Bank Introduces New Way to Measure Poverty in Asia,By Claudia Blume, August 27, 2008 (VOA website) - The Asian Development Bank has developed a new benchmark to measure poverty in Asia. The ADB says in a region that has seen stellar growth rates and rising income inequality, its new Asian poverty line can help policy makers measure and compare poverty levels.
Corporación Andina de Fomento:
CAF signs US$294mn loan contracts for infrastructure, power projects - Bolivia, August 22, 2008 (Business News Americas website) - The Andean Development Corporation (CAF) has signed loan contracts worth roughly US$294mn with Bolivia's development planning minister Graciela Toro, the government announced on its website.
European Bank for Reconstruction and Development:
New EBRD president makes first visit to Western Balkans, By Petar Kostadinov, August 28, 2008 (Sofia Echo website) - Signing loan agreements worth a total of 19 million euro will be on the agenda of Thomas Mirow, the newly-appointed head of the European Bank for Reconstruction and Development (EBRD) during his first visit to Western Balkans on September 1-3 2008, the bank said in a statement.
Russia - Tough Investment Environment, By Daniel Johnston, August 26, 2008 (Red Orbit website) - This article relates the saga of the Sakhalin II project, one of the earliest of the Russian production sharing agreements. An offshore oil and gas field development in the Sea of Okhotsk off the eastern shore of Sakhalin Island, Russia, the Sakhalin II project embodies many of the key issues of the day in the former Soviet Union (FSU).
Inter-American Development Bank:
Left behind by the U.S., Honduras turns to Chavez, By Gustavo Palencia and Anahi Rama, August 26, 2008 (Reuters website) - Honduras, a longtime ally of the United States in Central America, says a lack of international support to tackle chronic poverty has forced it to seek aid from Venezuelan President Hugo Chavez.
International Monetary Fund:
IMF Is Considering $750 Million Loan to Georgia, Official Says, By Christopher Swann, August 27, 2008 (Bloomberg website) - The International Monetary Fund is considering lending Georgia $750 million to help buoy investor confidence after Russia's invasion, according to a fund official involved in the negotiations.
RPT-INTERVIEW-IMF must keep up with the times-Egyptian finmin, By Lesley Wroughton, Reuters, August 26, 2008 (Forbes website) - When Egypt drafted its new income tax law in 2004, Finance Minister Youssef Boutros-Ghali had three International Monetary Fund officials working with him line by line to help the Middle East country get it right.
IMF hires PR companies to help spread its message, August 22, 2008 (Reuters website) - The International Monetary Fund has hired two big-name PR agencies to help spread the fund's message throughout the developing world, a move that also comes as it seeks to buff up its image.
World Bank:
World Bank says developing nations need $170 bln to mitigate climate change, Xinhua, August 27, 2008 (China View website) - The World Bank on Tuesday at the ongoing Accra Climate Change Talks in Ghana has said a total of 170 billion U.S dollars was required between now and 2030 to enable developing countries mitigate and adapt to the impact of climate change, according to the official News Agency of Nigeria on Wednesday.
More people living below poverty line, By Lesley Wroughton, August 26, 2008 (Reuters website) - The World Bank said on Tuesday more people are living in extreme poverty in developing countries than previously thought as it adjusted the recognized yardstick for measuring global poverty to $1.25 a day from $1.
UN Carbon Trade `Expensive and Slow,' World Bank Says (Update1), By Mathew Car, August 26, 2008 (Bloomberg website) - The United Nations Clean Development Mechanism is ``expensive and time consuming'' because it requires project managers to abide by new rules governing the technologies used to reduce emissions, the World Bank said.
World Bank and IMF to assist Georgia, By M. Alkhazashvili, August 26, 2008 (The Messenger Online) - A delegation from the World Bank and the International Monetary Fund has taken the decision to assist Georgia due to the Russian aggression.
PH Intl Airport: Why World Bank refused Nigeria rehabilitation fund, By Oyetunji Abioye, August 24, 2008 (The Punch website) - Demand by stakeholders has heightened for investigations into why the World Bank refused to release the funds pledged for the rehabilitation of Port Harcourt International Airport to the Federal Government.
Seven charged in Singapore over IMF-World Bank protests: activist, August 22, 2008, (AFP website) - A Singapore opposition leader and six other activists have been charged over protests during IMF-World Bank meetings almost two years ago, one of them said Friday, just days after the prime minister called for a ban on outdoor demonstrations to be eased.