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The Latest Breaking News from the World Bank

Mongolians Warm Up On Culture At New Winter Festival

A festival in a frigid park on the edge of the world's coldest capital in February might not sound like a crowd-puller -- but in Mongolia an inaugural celebration of nomadic culture was in fine fettle this week.

International Business Times

Can new Africa Energy Bank power a continent while protecting the planet?

A long-planned bank to fund oil and gas projects in Africa must balance profit with climate considerations, experts say.

Al Jazeera

‘Devastating’: Malawi left in dire straits by Trump’s decision to freeze aid

African nation relies on US and other foreign donors to help fund healthcare projects and schools

The Guardian - UK

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Cambodia's largest bank credits a unique investment for its 'exponential' growth

In Channy, president of ACLEDA Bank, says a proper office convinced ordinary Cambodians to trust the bank: “They say...I want to make sure you exist!”

Fortune

US job creation slowed in January; UK can’t say ‘job done’ fighting inflation, say’s BoE’s Pill – as it happened

US economy added 143,000 new jobs last month, fewer than expected

The Guardian - UK

Rwanda’s evolving stature ensures muted global pressure as M23 advances in eastern Congo

In 2012, when M23 rebels appeared poised to seize control of a major city in eastern Congo, western countries suspended aid to put pressure on Rwanda to withdraw its support

The Independent UK

African nations set to light up the homes of 300 million people by 2030

Several African nations have committed to open up their electricity sectors to attract investors and light up the homes of 300 million people currently lacking power over the next six years. "Mission 300" is driving the agenda at a two-day energy summit in Tanzania.

Radio France Internationale

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Rubbish Roads: Nepal Explores Paving With Plastic

Cars speeding along a smooth, black-coloured street in Nepal's Pokhara are also driving over heaps of discarded plastic, transformed into an ingredient in road construction.

International Business Times

UK billionaires got £35m richer each day in 2024, says Oxfam

Four new billionaires emerged in the UK last year

The Independent UK

IMF sees steady global growth, but warns that Trump tariff, tax and deportation plans cloud outlook

The International Monetary Fund expects the world economy to grow a little faster and inflation to keep falling this year

The Independent UK

World Bank Report: Global Economy Growth Slows

World Bank's report forecasts modest global economic growth with challenges for developing economies. Impacts of COVID-19 and geopolitical events influence...

Top News

World Bank says the global is economy is growing steadily, but not fast enough to help ease poverty

The world economy is growing steadily in the face of global conflict, protectionist trade policies and high interest rates

The Independent UK

BP Nears Deals For Oil Fields, Curbs On Gas Flaring In Iraq

Iraq and British oil giant BP are set to finalise a deal by early February to develop four oil fields in Kirkuk and curb gas flaring, Iraqi authorities announced Wednesday.

International Business Times

Lebanese whose homes were destroyed in the war want to rebuild. Many face a long wait

It's been six weeks since a ceasefire halted the war between Israel and Hezbollah and many displaced Lebanese whose homes were destroyed in the fighting want to rebuild

The Independent UK

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The Guardian - UK

Two-income households need social housing too. Here’s why

In a private property market where supply is restricted, increased family wealth can simply drive up the cost of suitable homes

The Independent UK

China raises its estimate for the size of its economy in 2023

China says its economy grew a bit more in 2023 than earlier thought, according to an economic census conducted every five years

The Guardian - UK

Labour urged to lead global debt relief effort as cost of repayments soars

Campaigners call for action in 2025, as crippling repayments prevent spending to cut poverty and tackle climate crisis

The Guardian - UK

Single-use plastic will soon be banned in Nigeria – but is the country ready?

With restrictions due next month, food vendors are still using such plastics and some traders have not heard of ban

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International Business Times

Palestinian Economy Facing Unprecedented Crisis: World Bank

The war in the Palestinian territories is having a catastrophic impact on the local economy, the World Bank said Monday, noting that all sectors have been badly affected by Israel's attacks.

The Independent UK

Myanmar's economy set to contract as floods and fighting take heavy toll, the World Bank says

The World Bank forecasts that Myanmar's economy will contract this year, as flooding and fighting take a severe toll nearly four years after the military ousted its government headed by Aung San Suu Kyi

International Business Times

World Bank Announces Record $100 Bn Support For World's Poorest Countries

The World Bank announced Thursday that it has raised close to $24 billion to provide loans and grants for some of the world's poorest nations, which it can leverage to generate a record $100 billion in total spending power.

The Independent UK

Afghan economy shows modest signs of growth but recovery remains fragile, says World Bank

The World Bank says Afghanistan’s economy is showing modest signs of growth after two years of severe contraction

International Business Times

Vietnam Pushes Electric Motorbikes As Pollution Becomes 'Unbearable'

In Vietnam's heavily polluted capital Hanoi, teenage taxi driver Phung Khac Trung rides his electric motorbike through streets jammed with two-wheelers belching toxic fumes.

The Guardian - UK

UK increases World Bank contribution, boosting climate finance prospects

Government puts forward £1.98bn in funding over three years, an increase of about 40% on last pledge

Top News

Biden Urges Global Action On Climate Change At G20

President Biden advocates for increased funding for climate initiatives in developing nations to combat climate change.

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