Tag: World Bank Group
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Ajay Banga selected 14th President of the World Bank
The Executive Directors of the World Bank today selected Ajay Banga as President of the World Bank for a five-year term beginning June 2, 2023. Ajay Banga most recently served as Vice Chairman at General Atlantic. Previously, he was President and CEO of Mastercard, a global organization with nearly 24,000 employees. Under his leadership, MasterCard…
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World Bank Group launches new country partnership framework for Ghana
The World Bank Group’s (WBG) Board of Executive Directors today discussed a new five-year Country Partnership Framework (CPF) for Ghana for 2022 to 2026. The CPF prioritises investments in human capital, job creation, economic diversification, building a resilient health system, and fostering a greener and more inclusive society. Ghana has achieved considerable economic and social…
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World Bank approves $100 million to strengthen Ghana’s social safety program
The World Bank has approved the $100 million Ghana Productive Safety Net Project 2 (GPSNP 2). The project will support the Government of Ghana to expand and strengthen its social safety net program which will directly benefit over 1.6 million people in the country. The project will help to improve the incomes and productivity of…
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World Bank appoints Senegal’s Makhtar Diop as Managing Director of IFC
World Bank Group President David Malpass has announced the appointment of Makhtar Diop as Managing Director and Executive Vice President to head the International Finance Corporation (IFC), an arm of the World Bank Group that advances economic development and improves the lives of people by encouraging growth of the private sector in developing countries. “Makhtar…
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World Bank plans to invest over US$5 billion in drylands in Africa
The World Bank plans to invest over US$5 billion over the next five years to help restore degraded landscapes, improve agriculture productivity, and promote livelihoods across 11 African countries on a swathe of land stretching from Senegal to Djibouti. World Bank Group President, David Malpass, announced the investment at the One Planet Summit, a high-level…