The World Bank Group has announced the appointment of Makhtar Diop as Managing Director and Executive Vice President of the IFC.
World Bank has announced plans to invest over $5 billion within the next five years to help restore degraded landscapes in 11 African countries.
Union Bank has secured a partnership deal with IFC to boost trade.
The World Bank sees an opportunity to extend relief under the Debt Service Suspension Initiative
WTO has reported that 80 countries and customs territories have banned or limited the export of face masks, protective gear, gloves, and other goods.
Ministers of Finance from African countries have requested for debt relief from bilateral, multilateral and commercial partners to cushion the negative impact of the coronavirus.
The World Bank Group will deploy $150 billion over the next 15 months to stimulate economic recovery in countries affected by the Coronavirus.
IFC today announced a $40 million Trade Finance Guarantee facility to Coronation Merchant Bank under its Global Trade Finance Program.
Coronation Merchant Bank and IFC partnered to provide funds this resulted in both companies setting up an N14.4 billion Trade Finance Guarantee facility.
The IMF and the World Bank have shown concern and preparedness in assisting member countries to deal with the challenges posed by Coronavirus.