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The Latest Breaking News from World Bank

Young people in the Middle East struggle to see a promising future

The Middle East’s population is growing almost twice as fast as the world overall, and one-third of its people are under the age of 15.

The Conversation

Kenya's election promises: an economist's perspective

Kenya has four presidential candidates in the August 2022 general election. They recently launched their manifestos and one thing ties them together: the economy.

The Conversation

World Bank chafes at lower capital requirements recommended in G20 report - sources

The World Bank is seeking to block release of a report prepared for the Group of 20 major economies that calls for lowering the bank's capital requirements to boost its lending capacity, four sources familiar with the matter said.

Reuters

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Europe puts its foot on the gas — then tells Africa to slow down

After years of Europe pressuring Africa to transition from gas to renewables, EU nations are accelerating dirty fossil fuel burning.

Crikey

How BRICS' New Development Bank can improve transparency and accountability

The New Development Bank, which was formed in July 2014, marks its eighth birthday this year. It was formed by the leaders of Brazil, Russia, India, China and South Africa (BRICS) when they met in Fortaleza, Brazil for the bloc’s summit. The bank was seen as a potential alternative to…

The Conversation

IMF, World Bank to return to in-person annual meetings in October

The International Monetary Fund and World Bank said on Tuesday they will hold 2022 annual meetings fully in person in October, marking their first major gatherings to return to pre-pandemic conditions since October 2019.

Reuters

Ukraine gets $1.7B in fresh aid to pay health care workers

Ukraine is getting an additional $1.7 billion in assistance from the U.S. government and the World Bank

The Independent UK

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With Biden, Palestinians Seeking Freedom Get Permits Instead

For more than two years, the Biden administration has said that Palestinians are entitled to the same measure of "freedom, security and prosperity" enjoyed by Israelis. Instead, they've gotten US aid and permits to work inside Israel and its Jewish settlements. The inconsistency is likely to come up when President…

Asharq Al-Awsat

With Biden, Palestinians seeking freedom get permits instead

For more than two years, the Biden administration has said that Palestinians are entitled to the same measure of “freedom, security and prosperity” enjoyed by Israelis

The Independent UK

Farmers resist fixing of energy meters to farm connections in Anantapur district

The move will add to ryots’ woes, say Left leaders

The Hindu

World Bank rates first phase of Rebuild Kerala programme ‘satisfactory’

State govt. ‘largely met’ requirements to improve disaster and climate resilience, says report

The Hindu

The Pacific’s spiralling debt – and what governments can do about it

Rising debt and declining income seem to add up to an austere future for Pacific Island nations. But belt-tightening may make things worse.

360info

8,000 schools closed to obtain World Bank loan: TDP accuses Andhra Pradesh governmnet

VIJAYAWADA

The Hindu

Chhattisgarh gets Centre’s nod for World Bank funded school project

In-principle approval for $300 million borrowing over five years; World Bank team to visit; detailed plans anticipated

The Hindu

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Al Jazeera

World Bank to give The Gambia $68m grant to revive tourism sector

Grant is meant to support the diversification and climate resilience of tourism after pandemic and economic crisis.

Asharq Al-Awsat

Rising Heat Drives Crippling Sandstorms across the Middle East

Over the past two months, Iraqis have been living, working and breathing in thick clouds of dust, as at least nine sandstorms - lasting up to several days each - have hit the country, blanketing everything in grit. Hospitals have reported a surge in admissions, with thousands of patients coming…

The Independent UK

Sri Lanka's crisis rings alarm for other troubled economies

Sri Lanka is desperate for help to weather its worst crisis in recent memory, but it’s not the only economy that’s in serious trouble as prices of food, fuel and other staples soar, partly due to the war in Ukraine

Al Jazeera

IIT project in India’s Mumbai uses Twitter to issue flood alerts

Residents asked to tweet about floods in their neighbourhoods in order to make real-time geographically specific alerts.

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Al Jazeera

I can turn around Sri Lanka’s economy: PM Ranil Wickremesinghe

Sri Lanka’s newly appointed prime minister says it will take one and a half years to stabilise the crisis-hit economy.

Bangkok Post

Food security an urgent priority

While an earlier meeting of G-20 delegates in Yogyakarta focused on strengthening the global health system, it is no surprise that the Russia-Ukraine war dominated talks at the summit of the Group of Seven rich nations last week.

Asharq Al-Awsat

World Bank Grants Yemen $100 Mn to Expand Electricity Access

The World Bank approved a $100 million grant to Yemen for the second phase of the Yemen Emergency Electricity Access Project, announced Minister of Planning and International Cooperation Waed Badhib. Badhib said that the project aims to increase access to electricity in rural areas and cities' outskirts and plans to…

Asharq Al-Awsat

World Bank Creates Fund to Better Prevent, Respond to Pandemics

The World Bank's board on Thursday approved creation of a fund meant to finance investments in strengthening the fight against pandemics. The fund will support prevention, preparedness and response (PPR), with a focus on low- and middle-income countries, the bank said in a statement. "The devastating human, economic, and social…

Reuters

Some IMF staff work 'unduly influenced' despite strong safeguards - report

Nearly 20% of International Monetary Fund staff say their work has been "unduly influenced" by supervisors, according to an internal survey released on Thursday as part of a review of data integrity standards that generally found "robust mechanisms" for institutional governance.

AFP

World Bank creates fund to better prevent, respond to pandemics

Washington (AFP) - The World Bank's board on Thursday approved creation of a fund meant to finance investments in strengthening the fight against pandemics.

The Conversation

Could more online learning help fix Australia's teacher shortage?

On Thursday, thousands of teachers went on strike in New South Wales, over pay and “unsustainable” workloads.

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