US: Federal Reserve Cuts Interest Rate and Signals Future Reductions: Economic Implications for 2025

In a significant move aimed at managing economic growth and inflation, the Federal Reserve (Fed) lowered its key interest rate by 25 basis points at its December meeting. The decision, made by the Federal Open Market Committee (FOMC), brings the fed funds rate down to a range of 4.25%-4.50%, marking the third consecutive rate cut […]

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Databricks Secures $8.6 Billion in Series J Funding, Surpassing OpenAI’s VC Deal in 2024

Databricks, a leader in AI-driven data analytics and infrastructure, has raised an impressive $8.6 billion in its ongoing Series J funding round, surpassing OpenAI’s previously record-breaking venture capital deal for 2024. Led by Thrive Capital, this funding round is positioning Databricks to potentially reach a total of $10 billion, with the company’s valuation climbing to […]

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A conversation with Bitcoin Foundation chairman Brock Pierce

Last year, I had the opportunity to meet and befriend Brock Pierce at an Israel conference at Gotham Hall in New York City. Pierce is a blockchain pioneer, impact investor, and philanthropist with an extensive track record of founding, advising, and investing in disruptive [innovative] businesses. He’s been credited with pioneering the market for digital […]

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How can PAYGo Solar Reach the Underserved and Stay Sustainable? | Blog

The pay-as-you-go (PAYGo) solar sector is crucial for expanding energy access to underserved communities, yet the financial sustainability of companies in the industry remains a significant challenge. Over the past year, CGAP along with MFR and GOGLA analyzed the extent to which different types of PAYGo firms are able to reach low-income customers. Using the […]

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Ensuring Responsible Open Finance for Consumers and their Data | Blog

Open finance holds immense promise for financial inclusion, but with that great opportunity comes significant risk. As consumers share more of their data to access financial services, safeguarding their rights and security becomes paramount. At a recent open finance workshop by the Financial Stability Institute, The World Bank, and CGAP, experts from nearly 50 countries […]

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Funding the Unfunded: Addressing Bias and Unequal Access in the Global Startup Ecosystem

The startup ecosystem is a vibrant and dynamic sector that fuels economic growth, innovation, and job creation across the globe. However, despite the potential for entrepreneurship to uplift communities, the path to securing funding remains an arduous challenge for many, particularly those from underrepresented and marginalized communities. Around the world, access to startup funding is […]

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UK Launches £100M Innovation Fund to Drive Public Sector Reform and Boost Efficiency

The UK government has unveiled a £100 million Innovation Fund aimed at transforming the way the public sector operates. Spearheaded by Pat McFadden, the Minister for Intergovernmental Relations, the initiative seeks to inject a “startup mentality” into government operations by adopting a “test and learn” culture, a practice commonly employed by leading digital firms. The […]

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African Development Bank Approves Initial $1 Billion Loan to South Africa’s Transnet

The African Development Bank (AfDB) has approved the release of the first tranche of a $1 billion, 25-year loan to South Africa’s state-owned freight and infrastructure operator, Transnet. This funding is part of a significant financial agreement aimed at boosting Transnet’s infrastructure development and supporting the country’s economic recovery. Loan Details and Purpose The loan, […]

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World Bank Approves $660 Million Financing for Turkey’s Key Railway Upgrade

The World Bank has approved a $660 million loan to support the Eastern Turkey Middle Corridor Railway Development Project, a vital infrastructure initiative aimed at upgrading a 660-kilometer railway line that stretches from Divriği to Kars in eastern Turkey. This significant investment is part of the World Bank’s ongoing efforts to support Turkey’s transportation sector […]

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