7 November 2008
Read all the headlines concerning the international financial institutions from the past week.
African Development Bank:
Africa's AfDB bank lends Tanzania $156 mln, October 31, 2008 (Reuters website) - The African Development Bank (AfDB) said on Friday it had lent Tanzania $156 million to finance an anti-poverty scheme.
AfDB Finances Zambia's 2nd Poverty Reduction Budget Support Programme, October 30, 2008 (allAfrica.com) - The African Development Bank, through its soft loan affiliate, the African Development Fund, on Wednesday approved 15 million Units of Account*, approximately US$ 23.4 million, as Zambia's Second Poverty Reduction Budget Support Loan (PRBS II).
Asian Development Bank:
Sweden to contribute to ADB's clean energy fund, November 4, 2008 (China View website) - The Asian Development Bank (ADB) said Tuesday that Sweden has agreed to contribute 4.7 million U.S. dollars to the multi-donor trust fund under the bank's Clean Energy Financing Partnership Facility.
ADB to extend $100M for RP rural projects, November 3, 2008 (ABS CBN News website) - The Asian Development Bank (ADB) is extending a total of $100 million in fresh loans for a project intended to improve the lives and incomes of over 150,000 poor farmers in the southern Philippines, the Manila-based lender said Monday.
ADB follows up dam pact with resettlement project, November 1, 2008 (Thanh Nien News website) - Japan will fund a US$2 million grant to support ethnic minority residents displaced by a hydropower project in the central province of Quang Nam.
Inter-American Development Bank:
IDB commits to civil society roadmap at Uruguay meeting, November 6, 2008 (eGov monitor website) - Inter-American Development Bank (IDB) Vice President for Countries Otaviano Canuto distributed today to the 26 Country Office Representatives, a copy of “Bridge for Development,” the roadmap adopted at the conclusion of in the Eighth Regional IDB-Civil Society Meeting.
IADB gives $720 mln loan to Argentine water company, November 5, 2008 (Reuters website) - Argentina's state water company AySA said on Wednesday it would receive a $720 million loan from the Inter-American Development Bank to fund investments in drinking water and sewage projects.
International Monetary Fund:
IMF approves standby loan for Hungary, November 6, 2008 (BusinessWeek website) - The International Monetary Fund said Thursday it has approved a 17-month standby loan of $15.7 billion for Hungary, one of the countries in Eastern Europe hardest hit by the global financial crisis.
IMF approves $16.5 billion loan for Ukraine, By Lesley Wroughton and Sabina Zawadzki, November 6, 2008 (Reuters website) - The International Monetary Fund approved a $16.5 billion loan program for Ukraine that includes monetary and exchange rate policy shifts to ease strains from the global financial crisis.
Bretton Woods is dead, By Kevin Gallagher, November 3, 2008 (The Guardian website) - World leaders must commit to forming new international organisations better suited to solving the economic crisis
Ukraine parliament approves IMF package, November 1, 2008 (AFP website) - Ukraine's parliament on Friday approved legislation clearing the way for a 16.5 billion dollar (12.8 billion euro) International Monetary Fund crisis loan.
World Bank:
Future of coal-based power projects: World Bank team trying to resolve Sindh-Centre rift, By Muhammad Yasir, November 7, 2008 (Daily Times website) - The World Bank is trying to resolve the prolonged rift between the Sindh government and the federal government over the authority of large coal deposits in the country.
World Bank lends Bulgaria $209 million, November 5, 2008 (IHT website) - The World Bank said Wednesday it will lend Bulgaria $209 million to help the EU newcomer prevent a plunge in living standards as a result of the global financial crisis.
World Bank officials in Gaza for sewage project, By Ben Hubbard, November 5, 2008 (AP website) - A World Bank delegation launched a sewage project, long delayed by the standoff between Israel and Hamas, in the Gaza Strip on Tuesday to prevent raw sewage from spilling into residential areas.
Watchdogs Criticise World Bank, IMF Mega Projects, By Alison Raphael, November 3, 2008 (IPS website) - The World Bank and International Monetary Fund (IMF) came under fire last week for failing to adequately promote transparency in extractive industry operations in resource-rich countries where the two institutions work.
Nepal to get $36 ml World Bank aid, November 2, 2008 (NDTV website) - The World Bank plans to provide $36 million aid package to Nepal to enhance its anti-poverty programme, including access to food and basic needs for vulnerable households in the impoverished nation.
Cyber Security Questions Persist at World Bank, By Richard Behar, November 2, 2008 (Fox News website) - Is the World Bank in the middle of a security meltdown?
HAITI: Activists Urge World Bank to Erase Crippling Debt, By Nergui Manalsuren, October 31, 2008 (IPS website) - On a recent visit to the hurricane-ravaged island of Haiti, World Bank President Robert Zoellick declared that 500 million dollars of Haiti's 1.7-billion-dollar foreign debt had been cancelled, and the rest would be soon be written off as well.