World Bank

A top official at the International Monetary Fund (IMF) said on Tuesday there had been progress on Greece and the Fund would like to get to a situation where it could help Greece.

"Some progress has been made," David Lipton, first deputy managing director of the IMF, told reporters in Berlin. "We would like to be in a position to help Greece," he added.

[Reuters]

The World Bank said late on Dec. 15 that 48 governments have ratcheted up the fight against extreme poverty by committing $75 billion in new funds to the International Development Association, the bank's fund for the poorest countries. 

EU Commission Vice President Kristalina Georgieva has said she is leaving the EU's executive body the take up a senior position at the World Bank.

The development is due to take effect as of January 02, 2017, Georgieva has said in a statement.

Her new appointment means Bulgaria will have to propose a successor.

The World Bank expects Serbia to ensure a world-class business environment, says WB Country Director for Southeast Europe Ellen Goldstein.

To unleash the power of the private sector, Serbia needs to have "a world-class business environment - not just good in the Balkans, it really has to be top-notch," she said.

IFC, a member of the World Bank Group, has said it had a fourth consecutive record year in Turkey, investing $1.8 billion to support sustainable energy and infrastructure development, improve municipal services, promote local capital markets and help Turkish companies increase competitiveness and impact, in a written statement on Sept. 26. 

The World Bank and the new China-backed Asian Infrastructure Investment Bank, originally seen as possible rivals, joined hands April 13 with an agreement to co-finance projects.

Aleksandar Vucic met on Monday with World Bank Country Director and Regional Coordinator for Southeast Europe, Europe and Central Asia Ellen Goldstein.

The meeting was also attended by World Bank office directors in countries of the Western Balkans and focused on the results which Serbia has achieved so far with its reforms, the government said on its website.

The World Bank's Board of Executive Directors has said it approved a micro, small and medium enterprises (MSMEs) and large enterprises (LEs) supply chain finance project for Turkey in the amount of $200 million in a written statement on Dec. 23. 

Ease of doing business in Turkey has only improved over the past year in terms of acquiring construction permits, the World Bank's Doing Business Report 2016 has revealed, noting that the ease of doing business has otherwise fallen across the board.

Bulgaria ranked 38th in the latest Doing Business ranking of the World Bank, dropping two positions from the place it occupied last year.

Doing Business 2016 ranks 189 economies on their ease of doing business, with a high ease of doing business ranking meaning that the regulatory environment is more conducive to starting and operating a local firm