Latest International Development Association Stories

2010-11-18 23:41:00

MOSCOW, Nov. 19, 2010 /PRNewswire/ -- The International Bank for Reconstruction and Development (IBRD) - an institution that is part of the World Bank Group, and state company Russian Highways (AVTODOR) signed a Memorandum of Understanding for a Strategic Partnership during the Road Traffic Russia - 2010 International Congress. The document was signed for IBRD by Peter Alba, Country Director for Russia, and for AVTODOR by Sergey Kostin, Chairman of the Management Board. The objective of...

2006-02-27 13:03:58

THE HAGUE (Reuters) - World Bank President Paul Wolfowitz said on Monday he was optimistic that agreement would be reached soon on how to fund a plan to cancel the debts of the world's poorest countries. "We're very close to having that package put together," Wolfowitz told a joint news conference with Dutch Finance Minister Gerrit Zalm in The Hague, adding that progress had been made since World Bank governors met in September. The Netherlands is the fifth largest contributor to the...

2005-09-23 20:50:25

By Lesley Wroughton and Sumeet Desai WASHINGTON (Reuters) - Group of Eight finance ministers on Friday reaffirmed their commitment to cancel the debts of impoverished countries, in a bid to ease concerns that the deal was about to unravel. U.S. Treasury Secretary John Snow, clearly aiming to push the deal to a point where it cannot be rejected, said the proposal could be approved by the boards of the IMF and World Bank "within a week." "I am very pleased to see that the (G-8) deal...

2005-08-03 00:16:53

By Lesley Wroughton WASHINGTON (Reuters) - The World Bank is calling for substantial changes in the highly-touted debt relief proposal for poor African countries agreed to at last month's Group of Eight summit. A World Bank staff report given to Reuters says the deal reached by leaders of G-8 industrialized nations -- the United States, Britain, Germany, France, Japan, Italy, Canada and Russia -- lacks sufficient compensation to the bank's low interest lending arm most affected by the debt...

Word of the Day
  • A gigantic fictional humanoid alien god being described with a head resembling an octopus and dragon wings and claws, around whom an insane cult developed.
  • Pertaining to the mythos of Cthulhu and additional otherworldly beings created by H. P. Lovecraft or inspired by his writings and imitators.
This word was invented in 1926 by H.P. Lovecraft for his short story, 'The Call of Cthulhu.' 'Cthulhu' may be based on the word 'chthonic,' which in Greek mythology refers to the underworld.