Search Site

TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.

QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

South Sudan: New WB funding to address food insecurity, locust crisis

    • Two new projects totaling $116 million aim to restore livelihoods, food security

    • The country faces increasing levels of food insecurity despite increased production

    World Bank has approved two new projects totaling $116 million for South Sudan that aim to strengthen the capacity of farmers, improve agricultural production, and restore livelihoods and food security.

    The South Sudan Resilient Agricultural Livelihoods Project (RALP) provides a grant of $62.5 million that will support investments in training for farmers to help them efficiently manage their organizations, adopt new technology, and use climate smart agriculture practices to boost their yields.

    The Emergency Locust Response Project (ELRP), which consists of a grant for $53.7 million, will boost South Sudan’s response to desert locusts by restoring livelihoods for the poorest and strengthening the country’s preparedness systems.

    South Sudan is facing increasing levels of food insecurity despite increased production, with exceptionally high food prices constraining access to food for large segments of the population and desert locusts devouring crops.

    It is projected that 7.2 million people will face acute food insecurity in the coming months, which is the highest number since independence.

    “These two timely projects provide a mix of investments in social protection and agriculture to address drivers of both acute and chronic food insecurity,” said Ousmane Dione, World Bank Country Director, Eritrea, Ethiopia, South Sudan and Sudan.

    “The implementation modality supports a broader agenda of institutional capacity building for the Government of the Republic of South Sudan,” he added.

    The two grants will be the first World Bank-financed projects since 2018 to be implemented through government systems, specifically the Ministry of Agriculture and Food Security.