EU pledges $96M loan to Cameroon to boost infrastructure

1 week, 6 days ago

US disburses $20 billion Ukraine loan backed by profits from Russian assets

Washington: The United States announced Tuesday that it has disbursed a $20 billion loan for Ukraine backed by proceeds earned on frozen Russian assets, as part of a $50 billion G7 support package. "These funds -- paid for by the windfall proceeds earned from Russia's own immobilized assets -- will provide Ukraine a critical infusion of support as it defends …

Support Ukraine Russia Assets Loan Washington Billion

2 weeks, 6 days ago

Biden in Africa pledges millions for a rail project the U.S. hopes will boost its influence there

LA Times

President Biden watches a traditional dance after arriving at the airport in Catumbela, Angola, on Wednesday. President Biden on his visit to sub-Saharan Africa pledged another $600 million for a cross-continent rail corridor project Wednesday, telling regional leaders that “Africa has been left behind for much too long. Africa is the future.” Biden used the third and final day of …

China Africa Project Biden President Line Corridor

3 weeks ago

Nigeria Raises $2.2 Billion in First Eurobond Issue Since 2022

Live Mint

-- Nigeria raised $2.2 billion with its first eurobond sale since February 2022, attracting demand for more than four times the amount on offer. Africa’s biggest oil producer offered two maturities: a 6.5-year note that priced at 9.625%, and a 10-year issue that sold at 10.375%, Nigeria’s Debt Management Office said in an emailed statement late Monday. Measures taken by …

Nigeria Issue Billion Nigerian Tinubu

1 month ago

Hopes of trillion dollar climate fund dim at Cop29 after developed countries fail to offer commitment

The Independent

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “It’s like developed countries are saying the dog ate their homework.” open image in gallery Activists demonstrate for climate …

Finance Climate Independent Developing Countries Text Countries Fund

1 month ago

Deadline looms for negotiators seeking a deal for cash to curb global warming

Associated Press

BAKU, Azerbaijan — With time running down, negotiators at the United Nations annual climate talks on Wednesday remained mired in the maze of a trillion-dollar money problem, turning to host Azerbaijan to lead the way to daylight with a promised map to be released in the dark of night. “And what this effectively means is a lot of shuttle diplomacy, …

Climate Change Climate Developing Countries Countries Talks Group Morgan

1 month ago

Africa Central Banks Expected to Cut

Bloomberg

00:00 Yvonne, let's just talk, first of all, about the Trump effect and what that is going to have on African central banks. I mean, how big a reality is high inflation for the other countries as well, especially as we're watching inflation data today in South Africa? So if we're heading into an environment where interest rates remain higher …

Africa Inflation South Africa Trump Interest Rates Central Banks Countries

1 month ago

Biden pledges $4 billion to World Bank’s poorest nations fund at G20 summit

Firstpost

The World Bank’s IDA fund, which provides mainly grants and very low-interest loans to the poorest countries, is replenished every three years, and a pledging conference is scheduled for Dec. 6. US President Joe Biden has made a ‘historic’ pledge of $4 billion to the World Bank’s International Development Association fund for the world’s poorest countries. ’Historic’ pledge Earlier in …

World World Bank Biden Fund Pledge 20 Summit

1 month, 1 week ago

To get more capital, Africa needs more data

Live Mint

“The concept of risk is completely invented to ensure that investment doesn’t come to Africa," Gagan Gupta told an audience of investors and entrepreneurs earlier this year, to resounding applause. Government debt across sub-Saharan Africa reached 60% of GDP in 2023, with two dozen countries’ debt burdens widely considered unsustainable. Equity valuations in stockmarkets are low, implying poor growth prospects …

Africa Data Debt Risk Investors Countries African

1 month, 1 week ago

Netherlands cuts subsidies to NGO's by €1 billion

NL Times

The Netherlands is cutting its subsidies to non-governmental organizations from 1.4 billion euros to around 400 million euros. According to the PVV Minister, who once, as an MP, argued to abolish all foreign aid, these aid organizations and charities must become less dependent on the government. This will make them less dependent on government support.” Klever didn’t say which NGOs …

Netherlands Organizations Aid Cut Ngo Klever

1 month, 2 weeks ago

UN report calls for trillion of dollars in climate finance to aid developing countries

Live Mint

Developing nations will need around $1.1 trillion annually in climate financing by 2025, a figure expected to climb to $1.8 trillion by 2030, according to a new report by the United Nations Conference on Trade and Development. The report outlines a daunting roadmap for climate finance and calls for developed countries to meet escalating financial commitments to support global climate …

Finance Climate Developing Climate Finance Developing Countries Countries Ncqg

1 month, 3 weeks ago

UK to provide £3bn a year support for Ukraine until the war ends

Firstpost

The UK has announced an annual £3 billion support for Ukraine for as long as it takes, alongside an additional £2.9 billion for the defence ministry. This support will be provided as part of the G7's Extraordinary Revenue Acceleration agreement and the UK's goal of allocating 2.5 per cent of its GDP towards defence spending.

Law Finance International Relations Military London

France Announces €100 Million Aid Package for Lebanon: A Pivotal Moment in the War in the Region

The Hindu

France pledges a €100 million aid package to support Lebanon in the wake of the ongoing war between Israel and Hezbollah. The aid package will provide humanitarian assistance to the hundreds of thousands of people displaced by the war and support the communities hosting them. France's historic links with Lebanon and its influential diplomacy give Paris momentum to coordinate a …

Law Security International Relations War and Conflict Paris

2 months ago

China's Infrastructure Push in Africa: A Game Changer for Economic Growth

China Daily

Chinese investors are set to expand their economic ties with Africa through infrastructure projects, trade agreements, and diplomatic engagements. The Chinese government plans to invest at least 70 billion yuan in Africa over the next three years, and China and Africa will establish a joint digital technology cooperation center.

Government Law Technology Economy Dar es Salaam

2 months, 1 week ago

Italy making banks help with budget

China Daily

By EARLE GALE in London | China Daily Global | Updated: 2024-10-17 09:27 Italy's Prime Minister Giorgia Meloni attends a roundtable meeting in Brussels, Belgium Oct 16, 2024. Italy will raise 3.5 billion euros through new levies on domestic banks and insurance companies, in a bid to overcome a 9-billion-euro black hole in its budget, Prime Minister Giorgia Meloni announced …

Italy Tax Billion Its Books

2 months, 4 weeks ago

The EU is failing to dissuade African migrants despite spending billions, auditors say

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Despite the lessons learned …

Human Rights Europe Italy Migration Report Commission Billion

3 months ago

Denmark pledges $491.7 million to World Bank IDA fund for poorest countries

Hindustan Times

WASHINGTON - The World Bank Group said on Monday that Denmark has pledged to contribute about $491.7 million to the bank's latest replenishment of its fund for the poorest countries, a 40% increase over the country's previous contribution. Denmark pledges $491.7 million to World Bank IDA fund for poorest countries {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} WHY IT'S IMPORTANT {{^usCountry}} {{/usCountry}} The …

World Bank World Bank Denmark Countries Fund Poorest Countries

3 months ago

EU pledges to loan Ukraine up to $39 billion to help rebuild its economy and power grid

Associated Press

KYIV, Ukraine — The European Union pledged on Friday to lend Ukraine up to 35 billion euros as part of a loan package organized by the Group of Seven major industrial nations, as it seeks to help the country rebuild its economy and its war-shattered power grid. “We should make Russia pay for the destruction it caused,” European Commission President …

Ukraine Russia Power Loan Help Billion Russian

3 months ago

EU pledges to lend Ukraine up to $39 billion to help rebuild its economy and power grid

LA Times

Ukrainian President Volodymyr Zelensky and European Commission President Ursula von der Leyen greet each other in Kyiv on Friday. “We should make Russia pay for the destruction it caused,” European Commission President Ursula von der Leyen told reporters at a news conference in Kyiv with President Volodymyr Zelensky in Kyiv. Von der Leyen said that the EU has already provided …

Ukraine Russia Power Help Russian European Von

3 months, 2 weeks ago

Collaboration transcends economic development

China Daily

An Africa-bound freight train leaves Zhuzhou, Hunan province. While the economic partnership between China and Africa continues to strengthen, Ye said there are underlying issues that need to be addressed — particularly the need to diversify the trade structures between the two regions. While trade serves as a cornerstone of China-Africa cooperation, another significant aspect that underscores the depth of …

China Infrastructure Trade Economic Development Billion World Africa

3 months, 2 weeks ago

China's Xi promises $50 billion for Africa over next three years

The Hindu

Chinese leader Xi Jinping on Thursday pledged over $50 billion in financing for Africa over the next three years, promising to deepen cooperation in infrastructure and trade with the continent as he addressed Beijing's biggest summit since the pandemic. Addressing the leaders at the forum's opening ceremony in Beijing's ornate Great Hall of the People on Thursday, Mr. Xi hailed …

China Africa Infrastructure Cooperation Chinese Beijing African

4 months, 3 weeks ago

Ethiopia receives IMF relief after easing forex curbs

The Hindu

Cash-strapped ased foreign exchange curbs on Monday as part of a broad economic reform package as the International Monetary Fund approved a loan to the Horn of Africa nation seeking a multibillion-dollar bailout. “This a landmark moment for Ethiopia” and the loan is a testament to the country’s “strong commitment to transformative reforms”, IMF Managing Director Kristalina Georgieva said in …

Market Bank Foreign Imf Ethiopia Nbe

4 months, 3 weeks ago

World Bank approves $1 billion in financing for Ethiopia

Hindustan Times

July 30 - The World Bank said on Tuesday its board had approved a $1 billion credit for Ethiopia, as the Horn of Africa country tries to push ahead with a long-running debt restructuring. World Bank approves $1 billion in financing for Ethiopia Africa's second-most populous country after Nigeria secured a four-year, $3.4 billion programme from the International Monetary Fund …

World Bank Debt World Bank Billion Ethiopia

4 months, 3 weeks ago

European Union transfers $1.6 billion raised from frozen Russian assets to Ukraine

India Today

The European Union announced Friday it had made 1.5 billion euros available to support Ukraine, the first tranche of money generated from profits on frozen Russian assets. In May, the EU’s 27 member states reached an agreement to use the interest earned on some 210 billion euros in Russian central bank assets for military support for Ukraine and rebuilding efforts …

Europe Ukraine Billion Frozen Russian

5 months ago

German cabinet approves contested budget plan

China Daily

Germany's Chancellor Olaf Scholz arrives for the Meeting of the European Political Community at the Blenheim Palace in Woodstock, near Oxford, on July 18, 2024. The German cabinet finally approved its 2025 budget on Wednesday after weeks of negotiations, allocating a record 78 billion euros for investments and 75.3 billion euros for NATO's defense spending target, while halving funds to …

Budget Germany Billion Euros German Lindner Bundestag

5 months ago

CAF development bank loans $2.7 billion across Latin America, Caribbean

Hindustan Times

July 18 - The Development Bank of Latin America and the Caribbean has allocated $2.74 billion in loans across nine countries in the region to help fuel their energy transition, shore up their ecosystems and improve infrastructure, it said on Thursday. CAF development bank loans $2.7 billion across Latin America, Caribbean The bank also signed humanitarian aid agreements for three …

Caribbean Latin America Ecuador Caf

5 months, 2 weeks ago

What do the IMF and foreign debt have to do with Kenya’s current crisis?

Al Jazeera

Critics say the IMF provides loans to desperate African countries on stringent terms, disproportionately affecting the poor. In Kenya, that anger is fresh because Ruto’s now-withdrawn tax hikes as well as similar legislation passed in 2023 are both linked to IMF loans as Kenya staggers under the weight of a heavy debt crisis. The stringent conditions from lenders like the …

Tax Protests Loans Debt World Bank Kenya Crisis

5 months, 3 weeks ago

Egypt, EU hold an investment conference to help Cairo battle inflation and foreign currency crisis

Associated Press

CAIRO — Egypt and the European Union on Saturday opened a two-day investment conference to advance the implementation of their strategic partnership agreement that includes a 7.4 billion-euro aid package for the cash-strapped Middle Eastern nation. Most of the funds — 5 billion euros — are macro-financial assistance to help Egypt shore up its economy, which is hit by a …

Rights Investment Billion Egyptian European Rights Groups Cairo

6 months ago

Costly election pledges in France stoke fears of splurges that risk pushing country deeper into debt

Associated Press

PARIS — The promises are appealing -– and expensive. Macron acknowledged that National Rally’s economic pledges “perhaps make people happy,” but claimed they would cost 100 billion euros annually. And the left’s plans, he charged, are “four times worse in terms of cost.’’ Jordan Bardella, the National Rally president gunning to become France’s prime minister in the election, poo-poos the …

France Election Right French Billion Macron Euros

6 months ago

EU to warn France, Italy and more over unruly budgets

New Indian Express

BRUSSELS: The European Union is expected on Wednesday to rebuke nearly 10 governments, including France and Italy, over their excessive spending after new budget rules entered into force this year. It comes at a particularly difficult moment for France, where both the far left and far right are piling up spending promises ahead of snap polls triggered by President Emmanuel …

France Brussels Italy

6 months, 1 week ago

Europe bows to US pressure to agree $50bn loan for Ukraine

The Telegraph

Rishi Sunak, the Prime Minister, said the loan would be “game-changing” for Ukraine’s ability to ward off Russian attacks. ‘Forward leaning’ A Foreign Office source said: “It’s always been the case that us and the US have been most forward-leaning, needing to persuade the others.” US officials hope the loan plan will avoid a “tantrum” from Mr Zelensky at next …

Europe Ukraine Loan Russian Zelensky Mr Zelensky

6 months, 3 weeks ago

Donor fatigue persists as nations commit around $8.1 billion for conflict-hit Syrians

Associated Press

BEIRUT — International donors meeting in Brussels said Monday they will commit 7.5 billion euros in both grants and loans to support Syrians battered by war, poverty, and hunger for the rest of this year and beyond. The pledges surpassed the modest $4.07 billion that the United Nations had appealed for, but was also a significant drop from amounts pledged …

War Syria Billion Syrian Syrians

7 months ago

From education to climate: Biden, Kenyan President William Ruto announce major deals and investments

Hindustan Times

U.S. President Joe Biden and Kenyan President William Ruto on Thursday announced investments in green energy, education and health manufacturing in the East African nation and a plan to reduce its debt burden. US President Joe Biden, right, and William Ruto, Kenya's president, at a meeting in the Oval Office of the White House during a state visit in Washington, …

International Development Washington East Africa State Countries Biden

7 months, 1 week ago

Brazil urges additional aid after $10 Billion plan to combat floods

Hindustan Times

The Brazilian government is weighing additional measures to help combat the fallout from historic floods in the state of Rio Grande do Sul, just days after unveiling a 52 billion reais aid plan. Military personnel help people crossing a boat from Arroio do Meio to Lajeado, over the Forquilha river The country is in talks with international financial institutions including …

Brazil State Aid Durigan

8 months, 1 week ago

Italy’s leader keeps the focus on migration on her fourth visit to Tunisia in a year

Associated Press

TUNIS, Tunisia — The head of Italy’s right-wing government acknowledged Wednesday that Tunisia cannot serve as a dumping ground for migrants, days after Tunisia’s president reaffirmed his unwillingness to let Europe outsource migration problems by sending those not welcome there to his country. Italian Premier Giorgia Meloni said during a visit to Tunisia — her fourth in the past year …

Europe Italy Migration European Migrants Tunisia Meloni

8 months, 1 week ago

World donors pledge more than €2 billion in aid for war-stricken Sudan

The Hindu

French President Emmanuel Macron announced on April 15 that world donors are pledging more than €2 billion euros aid for Sudan after a year-long war that has pushed its population to the brink of famine. In a final statement, top diplomatic envoys, U.N. officials and aid agencies gathered at the conference also urged Sudan’s warring parties to stop rights violations …

International War Humanitarian Sudan Aid Paris Macron

8 months, 1 week ago

EU releases blocked funds of $6.7 billion to Poland as part of its post-pandemic recovery package

Associated Press

WARSAW, Poland — The European Union disbursed 6.3 billion euros to Poland as a part of the 27-nation bloc’s post-pandemic recovery fund, the biggest single transfer ever to the country, a government minister said Monday. Poland’s former national conservative governmen t, voted out of power in October, made changes to the judiciary which the EU said violated democratic checks and …

Poland Billion

8 months, 1 week ago

World donors pledge more than $2 billion in aid for war-stricken Sudan

LA Times

A man walks by a house damaged in fighting last April in Khartoum, Sudan. Macron called it “one of the worst humanitarian crises in the world,’’ that has created a ‘’real risk of famine.’’ The United Nations’ humanitarian campaign needs some $2.7 billion this year to get food, healthcare and other supplies to 24 million people in Sudan — nearly …

Conflict International War Humanitarian Sudan Aid Paris

8 months, 1 week ago

Europe pledges to boost aid to Sudan on unwelcome war anniversary

Al Jazeera

Germany promises $260m as European diplomats meet in Paris to mark the first anniversary of the conflict. “We can manage together to avoid a terrible famine catastrophe, but only if we get active together now,” German Foreign Minister Annalena Baerbock said, announcing the pledge of funds. “For a year the Sudanese people have been the victims of a terrible war,” …

Europe War Sudan Million Aid European Rsf

8 months, 3 weeks ago

The EU plans to fast-track some financial aid to Egypt. The usual funding safeguards will not apply

Associated Press

BRUSSELS — The European Union intends to fast-track some of its aid money to Egypt using an urgent funding procedure that bypasses parliamentary oversight and other safeguards, according to the president of the bloc’s executive branch. With those polls in mind, European Commission President Ursula von der Leyen announced plans for “an urgent MFA operation for up to 1 billion …

Human Rights Europe Ukraine Russia Egypt Commission Billion

8 months, 3 weeks ago

North Africa bears the brunt of Europe’s externalisation policies: Analysts

Al Jazeera

Desperate people are still seeking safety in Europe via North Africa in spite of the systems being set up to stop them. European lawmakers have pitched a recent 7.4 billion-euro deal between the European Union and Egypt as a further advance on the bloc’s aims to create a buffer zone along the shores of the southern Mediterranean, shoring up the …

Europe Italy Africa Migration Mediterranean Egypt European

9 months, 1 week ago

EU agrees $5.5bn boost for military aid to Ukraine

Al Jazeera

The move provides a welcome boost for Kyiv as support from its other major backer, the US, wavers and its outgunned forces struggle to hold back Russia. European Union countries have agreed to provide 5 billion euros for military aid to Ukraine as part of a revamp of an EU-run assistance fund, handing Kyiv a timely boost as its forces …

Ukraine Russia Military Aid Countries Fund Aid European

10 months ago

Top EU official says decisions coming next week on the release of massive funds for Poland

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The head of the European …

Poland Tusk

10 months ago

Top EU official says decisions coming next week on the release of massive funds for Poland

Associated Press

WARSAW, Poland — The head of the European Union’s powerful Commission announced on Friday in Warsaw that decisions will be taken soon to release billions of euros to Poland, funds frozen by the bloc over the previous Polish government’s anti-EU policies. Ursula von der Leyen said she had “good news” and that the decision to release 137 billion euros will …

Brussels Poland Billion Von Der Von Der Leyen Leyen

10 months, 3 weeks ago

European Union overcomes threat of Hungary veto to seal $54 billion aid package for Ukraine

Associated Press

BRUSSELS — Leaders of the 27 European Union countries sealed a deal Thursday to provide Ukraine with 50 billion euros in support for its war-ravaged economy after Hungary dropped weeks of threats to veto the measure. European Council President Charles Michel said the agreement “locks in steadfast, long-term, predictable funding for Ukraine” and shows the EU’s determination “to support their …

Support Brussels Billion Veto European Hungary Orbán

10 months, 3 weeks ago

In a sign of commitment, EU unlocks aid for Ukraine as it fights off Russia

Al Jazeera

The deal will help Ukraine cover its massive wartime deficit, but experts question what concessions were made to assure its passage. “The EU showed commitment to the continuous support of Ukraine under difficult geopolitical and internal circumstances … and despite alleged public impatience with this support,” European Institute lecturer George Tzogopoulos told Al Jazeera. EU leaders officially invited Ukraine to …

Support Ukraine Russia Funding Leaders Romania Military Aid

10 months, 3 weeks ago

European Union agrees on new $54bn aid package for Ukraine

Al Jazeera

Hungary previously vetoed the measure and criticised the bloc’s military support for Ukraine. Michel said the move “locks in steadfast, long-term, predictable funding for Ukraine” and demonstrates that the “EU is taking leadership and responsibility in support for Ukraine; we know what is at stake“. EU is taking leadership & responsibility in support for Ukraine; we know what is… — …

Europe Ukraine Funding Aid Orban Hungary Eu Leaders

10 months, 3 weeks ago

Tunisia wants to borrow billions from its central bank to address deficits. Experts call that risky

Associated Press

TUNIS, Tunisia — Cash-strapped Tunisia wants to take the unprecedented step of borrowing billions from its central bank to address budget deficits and bandage its economic crisis, a step that experts warn could bring inflation and lessen faith in institutions. In an emergency meeting behind closed doors, parliament’s finance committee on Wednesday considered a request from President Kais Saied’s government …

Bank Central Billion Tunisia Borrow Saied

10 months, 3 weeks ago

Why are EU leaders struggling to unlock a 50-billion-euro support package for Ukraine?

Associated Press

BRUSSELS — Almost two years after Russia invaded Ukraine, the war has ground to a virtual stalemate. As Hungarian Prime Minister Viktor Orban continues to oppose a 50 billion-euro support package for Ukraine, other EU leaders are losing patience. That includes more than €40 billion to support Ukraine’s economy, around €27 billion in military assistance measures, and over €17 billion …

Support Brussels War Ukraine Russia European Union Billion

1 year ago

EU pays the final tranche of Ukraine budget support for 2023. Future support is up in the air

Associated Press

BRUSSELS — The European Union on Thursday paid the final tranche of a multibillion-euro support package to Ukraine to help keep its war-ravaged economy afloat this year, leaving the country without a financial lifeline from Europe as of next month. The EU has sent 1.5 billion euros each month in 2023 to ensure macroeconomic stability and rebuild critical infrastructure destroyed …

Support War Ukraine Billion Hungary

EU pledges $96M loan to Cameroon to boost infrastructure

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