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The Latest Breaking News from the World Bank

Inflation, Unemployment Weigh On DR Congo Leader's Economic Gains

President Felix Tshisekedi, who once vowed to transform DR Congo into "the Germany of Africa", has promised to create jobs if he is re-elected, after a first term marked by economic growth but soaring inflation.

International Business Times

Why loss and damage funds are key to climate justice for developing countries at Cop28

Nations contributing least to greenhouse gas emissions are least equipped to deal with climate-related destruction

The Guardian - UK

COP28: oil pushers scrape the barrel as critical climate talks begin in Dubai

Days before the latest climate summit is due to begin in Dubai, the first flight powered entirely by “sustainable aviation fuel” landed safely in New York.

The Conversation

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Feud over 'loss and damages' fund risks derailing climate talks

Despite the so-called “breakthroughs” made ahead of this week’s Cop28 talks, ongoing disputes over a Loss and Damages Fund for poor countries battling climate disasters will prevent the financing tool from ever being workable, critics warn.

Radio France Internationale

What is gas flaring? Toxic air affects millions in the Middle East

Flaring is a waste of a precious natural resource that could be conserved or put to better use, such as producing electricity

Evening Standard

Climate funding is in short supply. So some want to rework the financial system

Efforts to boost climate financing have moved beyond national pledges. Now the focus is on overhauling organizations like the World Bank and providing countries debt relief.

WEKU

FAQ: Annual climate negotiations are about to start. Do they matter?

World leaders, climate experts and oil company executives converge on Dubai later this week to talk about climate change at the United Nations COP28 meeting. Here's what you need to know.

WEKU

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Climate adaptation funds are not reaching frontline communities: what needs to be done about it

Communities around the world face increasingly severe and frequent impacts from climate change. They are on the “frontlines” of droughts, flooding, desertification and sea level rise.

The Conversation

Top Producer Ivory Coast Fears For Cocoa Output After Rains

"Thirty years I've been in cocoa -- and this is the worst season yet," said Siaka Sylla as he contemplated an almost empty warehouse at his cooperative in Ivory Coast, the world's top producer of the bean.

International Business Times

Fund to compensate developing nations for climate change is unfinished business at COP28

A fund to compensate developing nations for the impacts of climate change was the supposed big breakthrough at last year's United Nations-led climate talks in Egypt

The Independent UK

Malnutrition in Pakistan: Over 40% of children under five suffer from stunted growth

According to a recent World Bank report, more than 40 percent of children under the age of five in Pakistan suffer from stunted growth. The situation is especially worrying for some villages in Sindh province, where 66 percent of under-fives are affected. Stunting is closely linked to brain development and…

France 24

Cop28 host UAE breaking its own ban on routine gas flaring, data shows

Exclusive: Fields run by climate summit host have burned gas near daily despite 20-year-old pledge, satellite monitoring reveals

The Guardian - UK

Vietnam's first class education system boasts top-notch students

While Vietnam remains a developing country, it boasts one of the best education systems in the world. According to data from the World Bank, Vietnamese students outperform not only their peers in nearby Malaysia and Thailand, but also those in wealthier countries such as Britain and Canada. Vietnamese students’ top-notch…

France 24

Disaster Declared for Texas Shrimp

The U.S. market—and seafood processors’ freezers—are overflowing with cheap farm-raised imports. Words and photos by Paula Levihn-Coon.

Texas Observer

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The Conversation

COP28: a year on from climate change funding breakthrough, poor countries eye disappointment at Dubai summit

At the COP27 summit in Sharm El-Sheikh, Egypt, an agreement to establish a loss and damage fund was hailed as a major breakthrough on one of the trickiest topics in the UN climate change negotiations. In an otherwise frustrating conference, this decision in November 2022 acknowledged the help that poorer…

Al Jazeera

Is Israel’s Gaza war the deadliest conflict for children in modern times?

Many more children have been killed in Gaza every day compared with Ukraine, Afghanistan, Iraq, other conflict zones.

The Conversation

World Bank suspension of Uganda funds over anti-homosexuality law: what this says about the struggle over funds and sovereignty

The World Bank issued a statement on 8 August 2023, announcing that it had effectively suspended all new public financing to Uganda over concerns with the country’s anti-homosexuality law, which “fundamentally contradicts the World Bank Group’s values”.

The Guardian - UK

DRC offers free maternity care to cut death rate among mothers and babies

Healthcare workers say clinics are being overwhelmed by women seeking help, amid lack of staff and facilities to back programme

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The Guardian - UK

‘Loss and damage’ deal struck to help countries worst hit by climate crisis

Governments draw up blueprint for fund to be administered at first by World Bank after tense Abu Dhabi talks

The Independent UK

Stage set for conflict at COP28 with mixed response to outcome of key climate talks

Tense negotiations at the final meeting on a climate-related loss and damages fund — an international fund to help poor countries hit hard by a warming planet — ended Saturday in Abu Dhabi, with participants agreeing that the World Bank would temporarily oversee the fund for the next four years

The Guardian - UK

Climate crisis talks resume on ‘loss and damage’ funding for poorest countries

World leaders will reconvene in Abu Dhabi before UAE’s Cop28 after talks broke down two weeks ago

The Conversation

Whose job will AI replace? Here's why a clerk in Ethiopia has more to fear than one in California

Artificial intelligence is changing the world – and one of the main areas it will affect in the short-to-medium term is the workforce.

WEKU

As climate threats grow, poor countries still aren't getting enough money to prepare

To adapt to the threats developing countries are facing from climate change, the United Nations says they'll need at least 10 times more money than the public funding they received in 2021.

The Independent UK

Oil prices could reach 'uncharted waters' if the Israel-Hamas war escalates, the World Bank says

The World Bank says oil prices could be pushed into “uncharted waters” if the violence between Israel and Hamas intensifies

The Guardian - UK

World Bank warns oil price could soar to record $150 a barrel

Escalation of Israel-Hamas war into Middle East-wide conflict would disrupt oil supplies and stoke food prices, says Bank

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