Latest news with #WorldBankBoardofExecutiveDirectors
Zawya
30-04-2025
- Business
- Zawya
Eswatini: World Bank Supports Fiscal and Private Sector Reforms for Resilient Growth
The World Bank Board of Executive Directors approved a Development Policy Loan (DPL) operation to support the Kingdom of Eswatini's efforts to strengthen fiscal governance, foster private sector development, and enhance energy security and climate resilience. This is the first in a programmatic series of two operations. Eswatini faces critical constraints in achieving broad-based economic growth, efficient public resource allocation, and poverty reduction. The reforms supported under this operation are expected to contribute to job creation, poverty alleviation and better social outcomes over the medium to long term. 'The operation is aligned with key national priorities such as youth employment, digital transformation, and the transition to sustainable energy, all of which are essential drivers of inclusive growth,' said Satu Kahkonen, World Bank Division Director for Eswatini. This $100 million policy loan supports Eswatini's reform agenda as outlined in the country's National Development Plan (2023–2028) and Programme of Action 2024. The policy actions supported by the loan will assist Eswatini to mobilize private capital and accelerate energy access. The operation builds on the momentum of the previous DPF series (2021–2022), as well as extensive technical assistance and analytical work conducted by the World Bank in Eswatini. 'This operation comes at a critical time, as the Government of Eswatini implements a policy agenda inspired by the Sibaya People's Parliament, focused on economic growth, job creation, and improved service delivery,' said Honourable Neal Rijkenberg, Minister of Finance of the Kingdom of Eswatini. 'We welcome the World Bank's support as we work to uplift the livelihoods of EmaSwati and deliver on our development objectives.' The DPL supports reforms across three key pillars: (i) Strengthening fiscal and public financial management by enhancing debt transparency and management, reducing the accumulation of public expenditure arrears, and improving the handling of volatile revenues from the Southern African Customs Union (SACU); (ii) Enhancing private sector competitiveness by improving the business environment, reducing barriers to market entry, promoting digital payment systems, and increasing access to export markets for local firms; (iii) Improving energy security and climate resilience by accelerating domestic renewable energy development, promoting private sector participation in the electricity market, and enhancing the resilience of infrastructure and vulnerable households to climate-related shocks. Distributed by APO Group on behalf of The World Bank Group.
Iraqi News
27-02-2025
- Business
- Iraqi News
Iraq launches $18.5 million project to tackle chemical pollution
Baghdad ( – The World Bank Board of Executive Directors has approved an $18.5 million initiative aimed at supporting Iraq's efforts to reduce environmental and health risks associated with Persistent Organic Pollutants (POPs) and other chemical pollution hotspots. The Integrated Persistent Organic Pollutants (POPs) and Chemical Hotspots Project is co-financed by a $13.49 million grant from the Global Environment Facility (GEF) and a $5 million grant from the Iraq Reform, Recovery and Reconstruction Fund (I3RF). Recognizing the urgent need to address pollution, the Iraqi government has taken significant regulatory and institutional steps, including the passage of key environmental legislations and the establishment of monitoring and assessment departments within the Ministry of Environment. This new project will further bolster these efforts by enhancing policy frameworks, strengthening regulatory institutions, and building capacity for effective POPs management. This project represents a significant step forward in Iraq's commitment to sustainable environmental management and public health protection.
