The World Bank Board of Directors today approved a $70 million credit to improve the quality of life of around one million people living in Northern, North Central, Eastern and Uva Provinces in Sri Lanka. The new local development project will put local communities at the center of planning and delivery of essential services such as roads, healthcare and sanitation through closer collaboration with local government authorities.
The expected inclusion of Chinese bonds in the Bloomberg Barclays Global Aggregate Bond Index next month is an "important milestone" in China's financial integration into the world economy, an International Monetary Fund (IMF) official said Wednesday.
"That step both reflects the importance of those bonds in foreign portfolios and likely will encourage more purchases of those securities going forward," said Changyong Rhee, IMF's director of the Asia and Pacific department, at a book forum held in Washington D.C.
COTABATO CITY – The European Union (EU) is set to train Moro Islamic Liberation Front (MILF) officials working in the Bangsamoro Transition Authority (BTA) of the just-created Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) to make them effective administrators.
Initially, 41 middle executives from the MILF will be trained on public policy, governance and management by the Centre for Peace and Conflict Studies (CPCS), and the Bangsamoro Leadership and Management Institute (BLMI) “starting this summer,” an EU statement furnished Friday to the Manila Bulletin said.
South and North Korea have exchanged reports related to a rail project that aims to link the peninsula, South Korea’s Unification Ministry said on February 27, 2019. Officials from the two countries met Monday at the inter-Korean liaison office in the border city of Kaesong to exchange the reports.
Economic viability tests are conducted on projects that get more than about 26 million U.S. dollars in government funds, but the South Korean government will waive the assessments on select projects in the interest of helping less developed regions of the country catch up.
The projects that the government will be waiving the test on are focused on two things: improving traffic and logistics networks across the country and nurturing regional industries.
Myanmar's parliament has approved a proposal for the establishment of a committee to draw up amendments to the country's constitution, which currently gives strong political power to the military.
The ruling National League for Democracy, led by Myanmar's de-facto leader Aung San Suu Kyi, submitted the proposal on Tuesday. Party members say the current constitutional framework makes it difficult for the party to pursue its policy agenda.
The proposal was cleared with majority support, but met with strong opposition from military lawmakers.
The results of the referendum on the Bangsamoro Organic Law (BOL) was announced on January 25, 2018. Voters, who were expected the the proposal for an expanded Muslim-led region, delivered a convincing result of about 1.7 million in favor and some 254,600 against, according to official results from the Philippines elections commission.
Happy over the overwhelming support of the people, Moro Islamic Liberation Front* (MILF) rebel leader Murad Ebrahim told AFP news agency that "It was a landslide. There's been nothing like this."
With the passing of this law, citizens hope that it will bring a measure of peace after decades of fighting in the region has killed thousands and mired the area in poverty.
East Timor’s president has vetoed the government’s budget, possibly jeopardizing plans to develop the Greater Sunrise oil and gas field, seen by leading East Timorese politicians as crucial to the impoverished country’s future
The turnout of the plebiscite on the Bangsamoro Organic Law could make or break the decades-old peace process between the Philippines' national government and the Moro Islamic Liberation Front (the Front), which started out as a secessionist armed movement in the southern island of Mindanao in the late 1970s.
If the "yes" vote wins, Bangsamoro - which means "Moro" nation - will replace the existing Autonomous Region in Muslim Mindanao (ARMM), which has been criticized as merely nominal and failed to end the violent conflict that has left at least 120,000 people dead over the last five decades.
On paper, the proposed new Moro nation will be a more powerful and possibly larger political unit than the ARMM. It will have its own parliament, some exclusive powers previously held by the government in Manila, and a significantly larger share of local revenues. Above all, it will also mean the end of the Front's armed struggle, with the decommissioning of its 35,000 troops and its leaders taking positions in the new civilian government.