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S&P warns of US withdrawal risk for World Bank

S&P Global has joined the list of leading credit rating agencies cautioning that an 'unprecedented' withdrawal by the United States from the World Bank and other major multilateral lenders could jeopardise their coveted triple-A credit ratings.

Last week, President Donald Trump signed an Executive Order mandating a six-month review of U.S. support for all international intergovernmental organisations to determine whether the country should withdraw from them o...

ICA joins IFC, others to invest $30m in power plant

IFC, a member of the World Bank Group, has brought in Japanese agency JICA to invest $30m in Sembcorp North-West Power Company, a joint venture of Sembcorp Utilities and Bangladesh‘s state-owned North-West Power Generation Company, that is building a 414MW dual-fuel combined-cycle power plant at Sirajganj, Bangladesh. The plant will significantly expand power-generation capacity in Bangladesh. JICAs $30 million is part of the total financing package of $ 165 million that includes a loan from IFCs own account as well as additional loans mobilized through partners. The total project cost is estimated at around $412 million. JICAs Senior Vice-President Kenichi Tomiyoshi said, “The project is expected to be one of the
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