Money Market

The World Bank has announced funding of up to $1 billion for the Government of Indonesia to supplement relief and reconstruction efforts in the disaster-affected areas of Lombok and Sulawesi, and to bolster long-term resilience. The funding would be available on request by the government. It would be guided by a US$5 million grant for technical assistance for detailed planning to ensure reconstruction is resilient and community-led. “On Friday I visited the city of Palu in Sulawesi with His Excellency Vice President Kalla. It is humbling to see the devastation and hear the stories of those who have been affected,”,World Bank Chief Executive Officer, Kristalina Georgieva said. “The government’s immediate relief efforts are robust and impressive. As we enter the reconstruction phase w

The African Development Bank, in multidisciplinary team roadshows, has presented financial products and investment opportunities on the continent to Nordic investors to leverage more access to financing. A statement issued by the bank on Monday said it hosted roadshows in Norway, Sweden, Finland and Denmark to attract investors to Africa. The roadshows brought together more than 50 private sector companies, investors and government and public institutions in the Nordic countries, the bank said. It noted that the aim of the events was to bring the bank closer to customers in order to increase awareness of key private sector stakeholders to understand its financial and risk mitigation products for investment projects. The roadshows, it added, also generated significant interests of bus...