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London Stock Exchange welcomes Aluminium Bahrain

– Raises $174.7 million
– Confirms London is international market of choice for Middle Eastern companies
– Exchange now home to 43 Middle Eastern companies

The London Stock Exchange today welcomed Aluminium Bahrain B.S.C. (“Alba”), the world’s fourth-largest producer of aluminium by capacity, to its Main Market.

The total value of the company’s Global Depositary Receipt (GDR) offering in London was US$174.7 million, and was made alongside an Ordinary Share offering on the Bahrain Stock Exchange, raising a total of approximately US$339 million. Trading in the GDRs and Ordinary Shares commenced today on the London and Bahrain Stock Exchanges, respectively, under the symbol “ALBH”.

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Kenya at a Tipping Point for Robust Growth Driven by the Telecommunications Revolution

Kenyans may experience a new wave of robust economic growth driven by several factors including the telecommunications revolution, according to the latest economic forecast by the World Bank in Kenya.

The economy is likely to expand at 4.9 percent in 2010 and 5.3 percent in 2011, says the Kenya Economic Update for December 2010. The economic report, Kenya at the Tipping Point, finds that growth of 6 percent is possible next year if no shocks occur.

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Joint World Bank – African Development Bank Statement on the Situation in Cote d’Ivoire

The World Bank Group and the African Development Bank issued the following joint statement in response to the situation in the Cote d’Ivoire:

The African Development Bank and the World Bank, longstanding multilateral development partners of Cote d’Ivoire, view with great concern and frustration the events unfolding in Cote d’Ivoire in the aftermath of the long-awaited elections which were supposed to usher in peace, stability and a basis for improved governance and inclusive growth that reflects participation of all of Cote d’Ivoire.

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Colombia/Emergency: US$150 Million from WB to Help with Humanitarian Aid and Reconstruction

The World Bank (WB) today announces the immediate disbursement of US$150 million to support Colombia in the face of the humanitarian emergency the country’s worst rainy season in decades. According to official figures this emergency has already affected more than two million people.

These funds come from a contingency loan, approved on December 18th, 2008, that was intended for disaster risk financing.

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Climate Finance Information At Your Fingertips

To help developing countries make sense of the multitude of funds and instruments available for climate finance a landmark website: www.climatefinanceoptions.org was launched today at the United Nations Climate Conference in Cancun.

Climate finance issues are high on the agenda in Cancun. The Climate Finance Options (CFO) web platform, envisioned as the go-to site for information on climate finance will help developing countries in their efforts to identify critical sources of funding to combat climate change.
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Building Capacity to Manage Ghana’s Oil – World Bank Assists with US$38 Million

The World Bank Board today approved a credit of US$38 million to the Government of Ghana for implementation of an Oil and Gas Capacity Building Project.

The Project, which has become necessary following Ghana’s discovery of oil and gas in commercial quantities has two main objectives: first, to help improve public management and regulatory capacity and enhance sector transparency by strengthening the institutions managing and monitoring the sector; and second, support the development of indigenous technical and professional skills needed by the petroleum sector through support to selected educational institutions.

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Bank of England / GfK NOP Inflation Attitudes Survey

Highlights from the survey

Question 1: Asked to give the current rate of inflation, respondents gave a median answer of 3.9%, compared with 3.6% in August.

Question 2a: Median expectations of the rate of inflation over the coming year were 3.9%, compared with 3.4% in August.

Question 2b*: Asked about expected inflation in the twelve months after that, respondents gave a median answer of 3.2%, compared with 2.9% in August.

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Argentina / World Bank: US$1.061 Billion to Improve Health, Road Infrastructure, Water and Sanitation

The World Bank (WB) Board of Directors approved three projects for Argentina totaling US$1.061 billion. Both Great North projects, Water and Infrastructure, will generate opportunities for all to access water and sanitation services, as well as better road infrastructure, to promote integration and foster the competitiveness of this region of the country.

The third project, “Essential Public Health Functions II”, will benefit more than four million people participating in seven health programs.

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