World Bank
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.
Reported by AI
The Ethiopian Electric Utility has signed a 3 billion Birr contract with two international firms to upgrade power networks in Ambo, Nekemte and Asosa.
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.
Reported by AI
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.
Egypt discusses executive framework for foreign direct investment strategy
June 09, 2026 05:24Egypt, World Bank discuss expanding cooperation on food security
June 05, 2026 23:47Chirchir sets January start for Nakuru-Bomet-Migori road project
June 02, 2026 21:24Kenya announces plans for two new western highways
May 20, 2026 04:55Egypt discusses infrastructure financing mechanism with World Bank
April 17, 2026 06:35C40 report promotes private investment for city climate adaptation
April 02, 2026 14:14World Bank praises Ethiopia's state enterprises as job creators
March 04, 2026 03:54World Bank president visits housing for all Egyptians project in 10th of Ramadan City
January 21, 2026 19:16South Sudan expected to lead Africa's fast economic growth in 2026
January 13, 2026 14:57Insecurity and food imports threaten World Bank's $500m agriculture intervention in northwest