{"id":583866,"date":"2023-03-21T00:00:00","date_gmt":"2023-03-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/21\/world-bank-could-lend-usd-50-bn-over-the-next-decade\/"},"modified":"2023-03-21T00:00:00","modified_gmt":"2023-03-21T00:00:00","slug":"world-bank-could-lend-usd-50-bn-over-the-next-decade","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/21\/world-bank-could-lend-usd-50-bn-over-the-next-decade\/","title":{"rendered":"World Bank could lend USD 50 bn over the next decade"},"content":{"rendered":"

World Bank could lend USD 50 bn over the next decade:<\/span> The World Bank is looking <\/span>at extending USD 50 bn worth of credit to borrowers over the next 10 years in a bid to address challenges such as pandemics and climate change, <\/span>Bloomberg<\/a><\/span> reports. The plan will be evaluated by the bank\u2019s executive directors over the coming weeks before being presented to its governors at the April Spring Meetings. The proposal comes courtesy of G20 leaders, who have urged the bank to \u201cfind ways to stretch existing resources.\u201d The bank is also looking to set explicit goals for sustainability and resilience in addition to its traditional objectives of alleviating poverty and enhancing prosperity.<\/span><\/p>\n

Another round of layoffs at Amazon: <\/span>Amazon will terminate another 9k employees in <\/span>the coming weeks, CEO Andy Jassy said in a <\/span>memo<\/a><\/span>to employees yesterday. The e-commerce giant has already let go of some <\/span>18k employees globally in January<\/a><\/span>.<\/span><\/p>\n

<\/a><\/a><\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/span><\/p>\n<\/td>\n

\n

14,924<\/span><\/p>\n<\/td>\n

\n

+1.7% (YTD: +2.2%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/span><\/p>\n<\/td>\n

\n

Buy 30.84<\/span><\/p>\n<\/td>\n

\n

Sell 30.96<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD<\/span> at CIB<\/span><\/p>\n<\/td>\n

\n

Buy 30.85<\/span><\/p>\n<\/td>\n

\n

Sell 30.95<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/span><\/p>\n<\/td>\n

\n

16.25% deposit<\/span><\/p>\n<\/td>\n

\n

17.25% lending<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/span><\/p>\n<\/td>\n

\n

10,218<\/span><\/p>\n<\/td>\n

\n

+0.6% (YTD: -2.5%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/span><\/p>\n<\/td>\n

\n

9,545<\/span><\/p>\n<\/td>\n

\n

-1.1% (YTD: -6.5%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/span><\/p>\n<\/td>\n

\n

3,344<\/span><\/p>\n<\/td>\n

\n

-0.2% (YTD: +0.2%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/span><\/p>\n<\/td>\n

\n

3,952<\/span><\/p>\n<\/td>\n

\n

+0.9% (YTD: +2.9%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/span><\/p>\n<\/td>\n

\n

7,404<\/span><\/p>\n<\/td>\n

\n

+0.9% (YTD: -0.6%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/span><\/p>\n<\/td>\n

\n

4,119<\/span><\/p>\n<\/td>\n

\n

+1.3% (YTD: +8.6%)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/span><\/p>\n<\/td>\n

\n

USD 73.74<\/span><\/p>\n<\/td>\n

\n

+1.1%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/span>(Nymex)<\/span><\/p>\n<\/td>\n

\n

USD 2.22<\/span><\/p>\n<\/td>\n

\n

-4.9%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/span><\/p>\n<\/td>\n

\n

USD 1,999.70<\/span><\/p>\n<\/td>\n

\n

+0.5%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/span><\/p>\n<\/td>\n

\n

USD 28,076<\/span><\/p>\n<\/td>\n

\n

+0.4% (YTD: +70.5%)<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/span><\/p>\n

The EGX30 rose 1.7% at yesterday\u2019s close<\/span> on turnover of EGP 1.37 bn (34.1% below the <\/span>90-day<\/span> average). Local investors were net sellers. The index is up 2.2% YTD.<\/span><\/p>\n

In the green: <\/span>Cleopatra Hospitals Group (+7.0%), Oriental Weavers (+6.8%) and Qalaa Holding (+6.1%).<\/span><\/p>\n

In the red: <\/span>CIRA Education (-1.4%), Credit Agricole Egypt (-1.3%) and Taaleem Management Services (-1.2%).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The G20 want the lender to make its resources go further<\/p>\n","protected":false},"author":1,"featured_media":583867,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[318,101,72,119,122,321],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-583866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-amazon","tag-development-finance","tag-enterpriseam","tag-financial-markets","tag-planet-finance","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"3dd59c9d-4684-4091-8c22-98fa07441e15","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/3\/World-Bank-1600.jpg","photo_position":"below","homepage_title":"","full_issue_title":"World Bank could lend USD 50 bn over the next decade","related_issue":[583843],"teaser":"The G20 want the lender to make its resources go further","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.e2582dad-e391-4f1c-8da9-8f9d511ac503.mp3"},"yoast_head":"\nWorld Bank could lend USD 50 bn over the next decade - 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The bank will provide tranches in EGP, USD, and EUR, and the first USD 50 mn tranche is set to be disbursed\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546588,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/african-development-bank-to-lend-usd-1-5-bn-to-african-farmers-to-stem-food-crisis\/","url_meta":{"origin":583866,"position":1},"title":"African Development Bank to lend USD 1.5 bn to African farmers to stem food crisis","author":"enterpriseam admin","date":"22 May 2022","format":false,"excerpt":"The African Development Bank has approved a USD 1.5 bn facility to help African countries avert a \u201clooming food crisis,\u201d the lender announced in a statement. AfDB will provide 20 mn African smallholder farmers with seeds and fertilizers to help them produce around 38 mn tons of food, it said.\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":584037,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/egypt-secures-usd-7-bn-world-bank-loan-to-support-private-sector-climate-goals\/","url_meta":{"origin":583866,"position":2},"title":"Egypt secures USD 7 bn World Bank loan to support private-sector, climate goals","author":"enterpriseam admin","date":"26 March 2023","format":false,"excerpt":"The funding includes USD 1 bn a year from the IBRD","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/422.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550348,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/24\/developing-world-debt-is-going-nowhere-and-thats-a-barrier-to-climate-goals\/","url_meta":{"origin":583866,"position":3},"title":"Developing world debt is going nowhere \u2014 and that\u2019s a barrier to climate goals","author":"enterpriseam admin","date":"24 October 2022","format":false,"excerpt":"Debt relief? What debt relief? Policymakers, investors and campaigners have been left disappointed by a lack of progress by the G20 to agree debt relief measures for poorer nations, Reuters reports. Rich nations are yet to make headway on the G20 Common Framework proposed in the wake of the covid-19\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591748,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/16\/world-bank-ebrd-to-lend-egypt-usd-1-bn-for-new-alexandria-metro-line\/","url_meta":{"origin":583866,"position":4},"title":"World Bank, EBRD to lend Egypt USD 1 bn for new Alexandria metro line","author":"enterpriseam admin","date":"16 December 2019","format":false,"excerpt":"World Bank, EBRD to lend Egypt USD 1 bn for new Alexandria metro line: The World Bank and the European Bank for Reconstruction and Development have agreed to provide a USD 1 bn loan to partially finance the project to convert Alexandria\u2019s Abu Qir railway into an underground metro, sources\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603036,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/14\/egypt-secures-usd-200-mn-world-bank-sme-loan-during-spring-meetings\/","url_meta":{"origin":583866,"position":5},"title":"Egypt secures USD 200 mn World Bank SME loan during spring meetings","author":"enterpriseam admin","date":"14 April 2019","format":false,"excerpt":"Here\u2019s what the Investment Ministry thinks you need to know about the IMF and World Bank\u2019s spring meetings, which wrapped this weekend in Washington, DC:Egypt secured a USD 200 mn loan from the World Bank to support entrepreneurship and SMEs during the spring meetings in Washington over the weekend, the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/126.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/583866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=583866"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/583866\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/583843"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/583867"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=583866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=583866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=583866"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=583866"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=583866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}