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The Latest Breaking News from the World Bank

World Bank injects 0 million to fuel Pakistan's economic growth

World Bank's financial boost of 0 million to Pakistan's RISE-II operation heralds new opportunities and economic growth, fueling optimism for the nation...

Top News

Was the COP28 climate summit a milestone or a mirage? | Explained

COP28 provided a mixed bag of outcomes. The commitment to ramp up renewable energy targets is a significant step forward – whereas issues on L&D metrics, fund management and disbursal, market mechanisms, risky technologies, the room left for continued use of fossil fuels in many sectors, and natural gas as…

The Hindu

Philippines’ Marcos faces ‘greenwashing’ claims as climate spending soars

Climate activists say Manila’s massive spending on climate-related initiatives is poorly allocated.

Al Jazeera

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World Bank Blog: Farewell to Great Inflation Fear?

Dive into a captivating exploration of the 'great inflation scare.' Bless adieu, perhaps, to what the World Bank blog has decoded about global economy infl...

Top News

Five major outcomes from the latest UN climate summit

The latest UN climate summit, COP28, was always going to be controversial. It was held in a state whose economy is heavily dependent on oil and gas – the United Arab Emirates. The summit president, Sultan Al Jaber, remains head of the Abu Dhabi National Oil Company and recently declared…

The Conversation

China's economy is forecast to slow sharply in 2024, the World Bank says, calling recovery 'fragile'

The World Bank is forecasting that China's economy will slow next year, with annual growth falling to 4.5% from 5.2% this year

The Independent UK

World Bank Trims Thai Growth Forecast to 2.5% for 2021!

Storms brew in Thailand's financial horizon as the World Bank brandishes red flags, slashing growth predictions to a scanty 2.5% this year.

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Developing Nations Service Record 3.5B Public Debts in 2022

Unfurling a global concern, developing nations shelled out a colossal 3.5 billion on public debt service in 2022, a daunting record tracked by World Bank.

Top News

World Bank warns record debt levels could put developing countries in crisis

High interest rates siphoning money away from spending on health, education and tackling climate crisis

The Guardian - UK

War has left Gaza economy at almost total standstill, says World Bank

Washington-based development organisation providing $20m for citizens suffering ‘multidimensional poverty’

The Guardian - UK

How lending-based climate finance is pushing poor countries deeper into debt

After more than a decade of disappointment, the world’s wealthiest countries may have finally fulfilled their 2009 promise to mobilise $100 billion a year to help developing countries face the climate crisis. But the harsh truth is that developing nations are going to have to pay most of that money…

France 24

Palestinian Economy Severely Impacted By Israel-Hamas War: World Bank

The Israel-Hamas war in Gaza is having a severe impact on the Palestinian economy, according to the World Bank, which now estimates sharp economic contraction this year and next.

International Business Times

Myanmar's economy is deteriorating as its civil conflict intensifies, World Bank report says

The World Bank says Myanmar’s economy is forecast to grow only 1% in the fiscal year that ends in March

The Independent UK

Poor countries need trillions of dollars to go green. A long-shot effort aims to generate the cash

A major, long-shot effort is gearing up to mobilize money to save Planet Earth by helping poorer countries go greener

The Independent UK

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Al Jazeera

For Myanmar’s generals, energy crisis threatens shaky grip on power

Min Aung Hlaing’s administration is facing energy shortages as it struggles to quell opposition to its rule.

International Business Times UK

World Bank Faces Accusations of 'Turning Blind Eye' to Sexual Abuse in Kenyan Schools

The World Bank's failure to act on early warnings and reports of sexual abuse has perpetuated a culture of impunity.

The Conversation

Don't applaud the climate summit's loss and damage fund deal just yet – it might not warrant that standing ovation

Shortly after the opening ceremony of the 2023 United Nations climate negotiations in Dubai, delegates of nations around the world rose in a standing ovation to celebrate a long-awaited agreement to launch a loss and damage fund to help vulnerable countries recover from climate-related disasters.

The Independent UK

Fossil fuels influence and other takeaways from Monday's climate conference events

The influence of fossil fuels was a focal point Monday at the United Nations annual climate conference known as COP28

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news in one place.

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The Guardian - UK

World Bank accused of ‘turning blind eye’ to sexual abuse in Kenyan schools it funded

Calls grow for independent inquiry after the bank’s internal watchdog found 21 cases of child sexual abuse by teaching staff

The Conversation

African countries lost control to foreign mining companies – the 3 steps that allowed this to happen

Within a few years of independence, African governments asserted sovereignty over their metal and mineral resources. Prior to this, the resources were exploited by European mining corporations. Since the 1990s, transnational corporations have once again become the dominant force as owners and managers of major mining projects.

The Guardian - UK

‘My friends were amazed’: Nigerian women break ‘male’ jobs barrier amid cost-of-living crisis

Many women are fighting prejudice to take up better-paid work to make ends meet, from driving a taxi or rickshaw to barbering

The Hindu

World Bank recalls paper on decline in toilet usage in India

The paper titled “Progress on Sanitation in Rural India: Reconciling Diverse Evidence”, was published in September this year.

The Hindu

Finding funds: On COP28 and the ‘loss and damage’ fund

In ensuring climate justice, the loss and damage fund’s contents need to be easily accessible to those who need it most without bureaucratic hurdles, and in sufficient quantities

International Business Times

World Bank To Operate 'Loss And Damage' Climate Fund

The World Bank will "operate" an ambitious new climate change fund, but donors and recipients will likely control how the money is actually spent, the head of the development lender said Friday.

France 24

McDonald's reworks classic burger with 50 tweaks

It's been seven years in the making, but McDonald's is now rolling out 50 tweaks to its classic hamburger in the US. The global food chain hopes to make its signature product taste better and less dry. Also in this business update, the World Bank increases its climate pledges at…

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