World Bank

Philippines reaches upper-middle income status

The Philippines has been reclassified by the World Bank as an upper-middle-income economy. The change reflects a gross national income per capita of $4,850, exceeding the $4,636 threshold.

Ethiopia signs 3 billion Birr agreement for power grid modernization

25 जून 2026 AI द्वारा रिपोर्ट किया गया

The Ethiopian Electric Utility has signed a 3 billion Birr contract with two international firms to upgrade power networks in Ambo, Nekemte and Asosa.

Africa

Abdelatty discusses $1bn world bank financing and ipo programme expansion

Africa

Egypt and World Bank advance innovative financing model for projects

Africa

World Bank urges stronger state asset measurement in Egypt’s public finance reforms

Kenya Railways cancels tender for DMU train air compressors

Kenya Railways has cancelled an international tender for 24 air compressors for Diesel Multiple Unit trains under the World Bank's Ksh65 billion Kenya Urban Mobility Improvement Project. The corporation announced the cancellation on April 28, 2026, just 12 days before the May 11 bid submission deadline. No detailed reasons have been provided publicly.

World Bank sets conditions for Kenya's Ksh96.9 billion loan

27 अप्रैल 2026 AI द्वारा रिपोर्ट किया गया

The World Bank has outlined three regulatory conditions Kenya must meet by June 30 to secure a Ksh96.9 billion budget support loan. The funds will support salaries and daily government operations. The requirements follow Kenya's request for aid amid fuel supply disruptions and external shocks from the Middle East conflict.

Africa