bank

Is it truly possible to capture the depth of destruction in mere numbers and figures? A comprehensive report co-authored by the World Bank, United Nations, and European Union posits the financial burden of rebuilding the Gaza Strip is staggering — a colossal $53.2 billion over the upcoming decade. While numbers carry their own weight, they barely scratch the surface of the economic devastation wrought by the recent conflict. The aptly titled 'Gaza and West Bank Interim Rapid Damage and Needs Assessment (IRDNA)' provides a…

Mogadishu (AX) — In the swirling dance of diplomacy and military tensions, Sunday heralded another somber chapter from the knotty conflict front. A tragic incident shook the northern Gaza Strip as Israeli forces reportedly killed a Palestinian while they were attempting to make their way back to a place he once called home. As if on cue, Hamas unleashed a salvo of accusations, charging Israel with dragging its feet on the supposed ceasefire and leaving displaced folks in a lurch with bureaucratic shackles. Well, Israeli…

In a harrowing turn of events, an Israeli drone strike targeted a vehicle near the bustling West Bank town of Qabatiya, resulting in the tragic deaths of two individuals, as reported by the Palestinian health ministry. This incident marks the fourth day of a significant Israeli military operation in the nearby city of Jenin, an offensive that began just after a ceasefire was brokered in the ongoing conflict in Gaza. The Israeli Defense Forces (IDF) contended that the airstrike successfully neutralized what they labeled as a…

Residents of Jenin reported that Israeli drones equipped with loudspeakers urged them to evacuate their homes as the military ramped up its demolition efforts on the third day of an extensive operation in the West Bank city. The sky, once a serene canopy, now echoed with urgent messages while the ground shook under the weight of military machinery. This operation, marked by convoys of armored vehicles supported by swooping helicopters and reconnaissance drones, commenced amid a tenuous ceasefire in Gaza. This fragile pause…

MOGADISHU, Somalia - Federal Minister Xayir Maareeye, in a Facebook post responding to Puntland Minister of Agriculture Maxamed Cabdiqaadir Doonyaale, has stated that tractors provided by the Federal Government to farmers in Iskushuban district of Bari region were part of a World Bank-funded project designed to support Somali farmers. You see, Minister Maareeye is a bit ticked off—with his words on social media cutting through the clutter, like a hot knife through butter. “I’ve been catching wind of naysayers spreading…

The Palestinian health ministry has reported a grievous loss of life in the Tulkarm refugee camp situated in the West Bank, where at least 18 individuals were tragically killed due to an Israeli airstrike. This attack was purportedly aimed at eliminating a Hamas commander, whose presence was significant in the region. A representative from the Palestinian security services described this air raid as the most catastrophic event in the West Bank since the year 2000, highlighting the escalation of violence in recent times.…

D'you hear the news? Djibouti City (AX) — The World Bank is coughing up another $90 million to beef up the Djibouti Regional Economic Corridor, a massive infrastructure project intended to improve regional connectivity and trade throughout the Horn of Africa.This fresh capital injection totals the project's financing to a hefty $160 million, building on an initial $70 million greenlighted back in December 2021.The coin will go toward revamping and maintaining three segments of the Djibouti-Addis Southern Corridor, a vital…

The Central Bank of Libya has officially declared a halt to its operations following the alarming kidnapping of its IT chief by unidentified armed assailants. This disturbing event unfolds amid escalating tensions among various armed factions throughout the nation. Prior to this incident, gunmen had surrounded the bank's headquarters located in Tripoli, demanding the resignation of Governor Seddik al-Kabir. This bold move has sparked international outrage, notably from Richard Norland, the U.S. Ambassador to Libya. He…

Frozen Bank Account Forces Ethiopian Airlines to Halt Eritrean Flights ADDIS ABABA - Ethiopian Airlines has officially announced the suspension of its flights to Eritrea due to the freezing of its bank account. This announcement came just hours prior to Eritrea's declaration of a curfew for foreign aircraft, which they described as a response to alleged 'harassment and lost luggage' incidents. Initially, Ethiopian Airlines attributed the flight suspension to “challenging operating conditions” in Eritrea, which they…

Salaam Somali Bank Provides Micro Credit to Small Businesses in Mogadishu MOGADISHU, Somalia - The Salaam Somali Bank, which is a leading private bank in Somalia, continues to contribute to the country's economic growth by providing free microfinance funds to develop small businesses. On Thursday August 19, 2021, the Bank's branch in the Bakaro market provided microfinance funds called “Qardu…