Monday, September 29, 2025
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Presidential Election in the Islamic Republic of Mauritania (Statement by Foreign Minister KAMIKAWA Yoko)

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Following the Mauritanian presidential election held on June 29, the Constitutional Council of Mauritania announced on July 4 that Mr. Mohamed Ould CHEIKH EL GHAZOUANI, the incumbent candidate, has been elected.

Japan congratulates President GHAZOUANI on his re-election.
Japan reiterates its respect to Mauritania for its important role in peace and stability of the region and is confident that Mauritania’s social and economic development will further progress under the strong leadership of President GHAZOUANI.
Mauritania is the Chair of the African Union this year. Japan is committed to further strengthen friendly and cooperative relations between Japan and Mauritania, including cooperation through the TICAD process.
Distributed by APO Group on behalf of Ministry of Foreign Affairs of Japan.

World Bank Grant to Support Scaling up Social Protection for Vulnerable Zambians Affected by the Drought

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Over 1.6 million vulnerable Zambians, badly affected by the severe drought, are set to benefit from a new World Bank grant meant to address the adverse effects of the ongoing drought, the worst in the last 40 years.

Additional financing to the Scaling-up Shock Responsive Social Protection Project (SSRSP AF2) (http://apo-opa.co/4bIdnwt) will allow Zambia to scale up its Social Cash Transfer (SCT) program, which currently benefits approximately 8.5 million people, 40 percent of Zambia’s population, and covers the 84 drought-impacted districts.

The SSRSP AF2 is an International Development Association (IDA) grant in the amount of $200 million equivalent from the Crisis Response Window (CRW), and will include a grant of $7.6 million from the Zambia Girls’ Education and Women’s Empowerment and Livelihoods (GEWEL) Multi-donor Trust Fund (MDTF).

“This additional financing is a critical intervention in our efforts to support those most affected by the drought in Zambia. It reaffirms the Bank’s commitment to building a resilient social protection system that can adapt to and mitigate the impacts of climate change on the most vulnerable citizens,” said Achim Fock, World Bank Country Manager for Zambia.

In addition to direct financial assistance, the project will continue to support Zambia in strengthening the country’s institutional capacity and social protection delivery systems. This will also enhance the country’s ability to respond more effectively and accountably to shocks in the future, complementing ongoing World Bank-funded social protection projects aimed at increasing climate adaptation and resilience.

 “The emergency cash assistance, provided over a 12-month period, will support about 904,635 current SCT beneficiary households and extend to over 726,361 new households affected by the drought. This financing aims to mitigate the escalating impacts of the drought by ensuring that the most vulnerable populations receive timely and effective support,” said Nadia Selim, World Bank Senior Social Protection Specialist for Zambia

This World Bank support will play a critical role in enhancing Zambia’s social protection framework, ensuring that assistance reaches those in need quickly and efficiently. This initiative aligns with the broader World Bank and Government objectives of promoting sustainable development and improving the livelihoods of Zambia’s poorest populations.

Distributed by APO Group on behalf of The World Bank Group.

World Bank Appoints New Country Director for the Maghreb and Malta

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The World Bank announces Mr. Ahmadou Moustapha Ndiaye as the new Country Director for the Maghreb and Malta. He succeeds Mr. Jesko Hentschel, who has served in the position for the last five years.

Mr. Ndiaye will lead the World Bank’s engagements with the governments of Algeria, Libya, Malta, Morocco, and Tunisia, development partners, and other stakeholders on initiatives aligned with the countries’ priorities and the World Bank’s vision to create a world free of poverty on a livable planet. 

Based in Rabat, Mr. Ndiaye will lead the World Bank’s strategic partnerships in the Maghreb and Malta and oversee a financing portfolio of $11.5 billion, as well as the provision of important innovative knowledge, policy recommendations, and advisory services. He will lead the World Bank’s efforts in supporting the different countries in achieving their respective development priorities including inclusive growth, private sector job creation, climate resilience, critical infrastructure access and human capital development, especially for women and youth.

Mr. Ndiaye brings over 25 years of development experience to his new role, having held a range of operational and leadership positions at the global and country level, including in Africa, Latin America, Eastern Europe, and Central Asia. He has forged a strong track record of delivering impactful results tailored to unique country contexts. Prior to his current appointment, he was the World Bank’s Director of Strategy&Operations for Equitable Finance&Inclusive Growth. A Senegalese national, Mr. Ndiaye holds a Master’s degree from the ESCP Business School in France and is fluent in English and French, as well as his native Wolof.

Distributed by APO Group on behalf of The World Bank Group.

NBE Sets Policy Rate at 15% in Shift to Interest-Rate-Based Monetary Policy

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In a significant move, the National Bank of Ethiopia (NBE) has adopted an interest-rate-based monetary policy framework, aligning with international best practices. This change comes as the central bank transitions away from the previous credit ceiling measure, which was intended as a temporary measure.

According to Mamo Esmelealem Mihretu, the governor of the NBE, the new policy rate has been set at 15%. This rate, he says, reflects the current economic conditions, such as declining inflation, low growth in base money, and the low growth rate of new loans disbursed by banks in the past year.

Notably, the governor emphasized that the new policy rate is independent of the existing seven percent minimum savings rate or bank lending rates. Instead, the NBE policy rate, plus or minus three basis points, will serve as the basis for overnight lending or deposit facilities between the central bank and commercial banks.

This shift to an interest-rate-based monetary policy framework marks a significant step forward for the NBE, as it aims to better signal its policy stance and influence broader monetary and credit conditions in the economy.