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The Latest Breaking News from World Bank Group

Labor Department submits revised ESG rule to White House

In this week’s edition of Economy and Society:

Ballotpedia

World Bank backs Spain with new Madrid office

First vice-president and economy minister Carlos Cuerpo presents Spain as a key hub for multilateral institutions after the opening of the World Bank office.

Euronews

South Asia can generate millions of jobs through agriculture sector: World Bank Group

With agriculture sector employing around 43 per cent of the South Asian workforce, the region has strong potential to emerge as a global leader in food systems, said World Bank Group, as per a statement by the Ministry of Food Processing Industries.

The Economic Times

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The world’s waste mountain is rising at an alarming rate

The world is struggling to deal with ever-growing quantities of waste.

The Conversation

World Bank Group opens its first office in Qatar

The World Bank Group has officially opened its first office in Doha, marking a new phase in its partnership with Qatar and strengthening cooperation on development, private investment and support for fragile economies in the region.

Euronews

Rising poverty in conflict zones ‘causes a billion people to go hungry’

In first assessment since pandemic in 2020, World Bank urges other countries to step up support

The Guardian - UK

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 Conversation

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IMF Head Backs Reforms To Increase China’s Voting Power

IMF's Georgieva supports giving China more voting power amid global economic changes.

Zenger

World Bank elects US nominee Ajay Banga president

He replaces Malpass, who was criticised for his stance on climate change and will step down nearly a year early.

Al Jazeera

Bangkok to host 2026 IMF-World Bank meetings

WASHINGTON: The International Monetary Fund and World Bank Group said on Wednesday they will hold their 2026 annual meetings in Bangkok, returning the October gathering to Thailand for the first time since 1991.

Bangkok Post

Can this former CEO fix the World Bank and solve the world's climate finance and debt crises as the institution's next president?

Over the past two years, a drumbeat of calls for reforming the World Bank has pushed its way onto the front pages of major newspapers and the agenda of heads of state.

The Conversation

Sergio Pimenta (IFC): 'We need to rethink the agriculture sector in Africa'

In this show we address the issue of food security in Africa and ways to strengthen it moving forward, whether that's in the face of geopolitical events like the war in Ukraine or climate change. Charles Pellegrin talks to Sergio Pimenta, Regional Vice President for Africa at the International Finance…

France 24

Why World Bank head’s resignation is good news for climate crisis fight

David Malpass’s decision to quit has delighted frustrated developing nations, donors, experts and campaigners

The Guardian - UK

World Bank president to step down early

The president of the World Bank Group, David Malpass, will leave his post about a year before the end of his five-year term. Appointed by former US president Donald Trump in 2019, Malpass courted controversy for his views on climate change, but said he was “proud” of the work he…

France 24

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France 24

World Bank warns economic slowdown will 'hit developing countries hard'

Another economic forecast has painted a grim picture for global growth, shining a spotlight on the impact on developing economies. The World Bank's Global Economic Prospects report cuts forecasts for 95 percent of advanced economies and nearly 70 percent of emerging market and developing economies. David Malpass, World Bank Group…

The Conversation

4 signs of progress at the UN climate change summit

Something significant is happening in the desert in Egypt as countries meet at COP27, the United Nations summit on climate change.

Salon

World Bank breaks sustainability vow

A new report alleges the World Bank has failed on its promise to align more closely with the Paris agreement

Reuters

World Bank defends climate record in meeting with NGOs

World Bank President David Malpass defended the institution's commitment to tackling climate change on Tuesday, telling civil society groups that have criticized his leadership on the issue that the bank is focused on global warming.

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The Guardian - UK

World Bank ‘has given nearly $15bn to fossil fuel projects since Paris deal’

A group of 50 NGOs found that bank and subsidiaries had funded oil refinery and gas processing

The Guardian - UK

Head of World Bank under pressure after White House condemns his ‘climate denial’ comments

David Malpass apologises after saying he ‘doesn’t know’ if he accepts climate science

The Conversation

Uber files: how World Bank-sponsored research on gender painted the company in a positive light

The recent leak of 124,000 confidential Uber documents has shed light on some of the ethically questionable activities that have arguably helped fuel the ride-hailing company’s global rise. Among allegations of law breaking and the secret lobbying of government figures, the “Uber files” show that the company paid academics to…

Dynamite News

World Bank to double educational funding for Central, West Africa

The World Bank Group seeks to double its funding for education in the Western and Central African region by 2025 to accelerate the work of educational reforms, a senior official of the bank said here late Monday.

Asharq Al-Awsat

World Bank Earmarks Additional Aid For Yemen’s Food Security

The World Bank Group’s Board of Executive Directors endorsed a new two-year Country Engagement Note (CEN) for Yemen aimed at preserving institutions that provide services to the Yemeni people and promoting food security. In a statement, the World Bank Group (WBG) said that its overarching goal was to support the…

Asharq Al-Awsat

Saudi Call for Financing First International Fund to Support Global Tourism Sector

Saudi Arabia called on donor countries to participate in financing the first international fund dedicated to supporting the tourism sector.

Bangkok Post

Thais urged to embrace disruptive tech

Accelerating the roll-out of digital and disruptive technologies while promoting a circular economy approach in key industries could generate up to US$3.4 billion per year through investment flows, savings and revenues for Thailand, according to a new World Bank Group report launched on Tuesday.

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