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The Latest Breaking News from World Bank

World Bank to fund Odisha to increase social protection, disaster resilience

The State cabinet had approved this project in December last year. OSCRGP has been declared effective from August 11, 2023 by the World Bank.

The Hindu

First Thing: World Bank spent billions of dollars backing fossil fuels in 2022, study finds

Campaigners estimate about $3.7bn in trade finance was supplied to oil and gas projects despite bank’s green pledges. Plus, the rapid descent of Tucker Carlson

The Guardian - UK

Why world figures urged Bangladesh to stop ‘harassment’ of a Nobel laureate

As Yunus faces corruption and labour law charges, global figures say country’s only Nobel winner is being ‘persecuted’.

Al Jazeera

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India’s G-20 leadership extremely effective, even if Russia generally absent: Janet Yellen

U.S. Treasury Secretary Janet Yellen said India’s G-20 leadership has proven effective on several fronts, including the reforms of multilateral development banks and addressing the debt concerns of vulnerable countries.

The Hindu

Online gig work is growing rapidly, but workers lack job protections, a World Bank report says

A World Bank eport says online gig work is growing globally and is creating an important source of employment for women and young people in poorer countries where jobs are scarce

The Independent UK

Biden is off to India and Vietnam. It's part of his push to counter China's influence

President Biden is using the G20 summit to push for a bigger, better World Bank as an alternative to China's massive lending programs, which have left some low-income countries with massive debt.

WEKU

Africa's vast underground water resources are under pressure from climate change - how to manage them

All countries have a variety of water resources – some are on the surface, like rivers, and some are beneath the ground. This groundwater provides almost 50% of all global domestic use and 43% of all the water used for agriculture.

The Conversation

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Australia tells big development banks to ‘lift their game’ in the Pacific

There are concerns the World Bank and ADB are giving contracts to low-price bidders who then demand more when budgets blow out

The Guardian - AU

Andhra Pradesh students to highlight government’s education schemes on global platforms

10 students, all SSC exam toppers, will speak at the U.N. headquarters, Columbia University, international youth conference in New York, World Bank headquarters in Washington DC during a 12-day exposure trip.

The Hindu

Concern over eviction of families from land allotted under the World Bank-funded MUDP scheme

The Information and Resource Centre for the Deprived Urban Communities (IRCDUC), a non-governmental organisation working for the urban poor, has expressed concern over the recent eviction of around 60 families living for the past several years on the land allotted to them under the World Bank-funded Madras Urban Development Plan…

The Hindu

How the BRICS nations failed to rebuild the global financial order

At its launch almost a decade ago, the BRICS nations’ New Development Bank (NDB) was celebrated as a chance for countries across the Global South to break free of the US-dominated IMF and World Bank and rewrite the rules of financing global development. But while the number of nations signed…

France 24

Clinton Global Initiative will return to New York with Jose Andres, Orlando Bloom, and Matt Damon

The Clinton Global Initiative 2023 will convene “leaders, innovators and dreamers” – ranging from World Bank President Ajay Banga and The Bahamas’ Prime Minister Philip E

The Independent UK

Evidence-based digital investments can help governments save up to 15% of health system costs: World Bank report

World Bank report finds health systems use less than 5% of available data to improve patient outcomes. Digital tech and data can help prevent and manage chronic diseases, care for young and ageing populations and prepare for health emergencies. India has shown the way with digital health and Ayushman Bharat.

The Hindu

World Bank freezes loans to Uganda because of anti-gay laws. But it doesn't mean it's becoming a human rights watchdog

Many people may be tempted to view the World Bank’s recent announcement that it will freeze new loans to Uganda because of the country’s vicious anti-LGBTIQ+ law as a harbinger of the Bank taking a more progressive approach to human rights issues.

The Conversation

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Radio France Internationale

Ugandan leader defiant after World Bank cuts off loans over anti-LGBTQ law

Ugandan President Yoweri Museveni has denounced the World Bank's decision to suspend new funding in response to a law targeting LGBTQ+ people, accusing the lender of using money to try to "coerce" the country's government.

Al Jazeera

Uganda defiant after World Bank halts funding over anti-LGBTQ law

President Museveni says the country will reduce borrowing and not give in to pressure from foreign institutions.

Reason

Was the Radical Left Correct About the IMF and World Bank?

Alex Gladstein on how "monetary colonialism" has crippled the Third World

The Independent UK

World Bank says no new funding to Uganda over anti-gay law

The World Bank says it will not consider new loans to Uganda after the East African country earlier this year enacted an anti-gay bill that rights groups and others have condemned

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Al Jazeera

World Bank halts new loans to Uganda over anti-LGBTQ law

US-based lender says controversial anti-gay law contradicts its values.

The Hindu

Khandre asks officials to prepare DPR for ₹840-crore K-Shore project to clear sea of plastic waste

Minister Khandre directs officials to prepare a project report to prevent plastic waste from entering Karnataka's coastline. World Bank proposed K-Shore project to minimize plastic entry and remove existing plastic from sea. Delegation suggests fishermen help in process, as cleaning sea of plastic could be more remunerative than fishing. World…

The Hindu

Along with Japan and India, China can join debt relief effort for Sri Lanka: Nirmala Sitharaman

Ms. Sitharaman said that a comprehensive, better and quicker approach is required to address the problem within the common framework of the IMF and World Bank, as well as “outside” it.

The Hindu

Morning Digest | Supreme Court asks Centre, six States to respond to plea on lynchings; INDIA MPs to visit Manipur, and more

Read a daily selection of top stories from across India and the world by The Hindu to start your day.

The Hindu

World Bank to provide assessment of damages due to Himachal floods

The World Bank has offered to provide full support to flood-affected Himachal Pradesh and will provide a comprehensive assessment of the damages which will aid reconstruction efforts, a statement issued here on Friday said.

The Hindu

Explained | Is there a rural bias in national surveys?

Govt of India appointed Pronab Sen panel to review NSO methodology due to articles by Ravi and Debroy claiming outdated survey methodology underestimates India's development. Mohanan and Kundu argue no systematic underestimation, but errors should be minimised. Examining NFHS data, no systematic rural bias found. Pronab Sen Committee should address…

The Guardian - UK

Top economists call for action on runaway global inequality

Gulf between rich and poor increases risk of climate breakdown as well as entrenches poverty, says letter to UN and World Bank

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