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The Latest Breaking News from World Bank

Cautious welcome: World Bank and IMF return to Africa, but questions remain

The annual meetings of the World Bank and International Monetary Fund (IMF) are due to take place in Marrakech, Morocco, in mid-October. The city and country are still reeling from a devastating earthquake in early September.

The Conversation

Lack of safety nets hurt Ghana’s most vulnerable as economic woes deepen

Ghana’s low-income households and working class are feeling the effects as the country grapples with an economic crisis.

Al Jazeera

Study finds more people are moving into high flood zones, increasing risk of water disasters

A new study finds that far more people are in harm's way as they move into high flood zones around the world

The Independent UK

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Despite early gains of Swachh Bharat Mission, toilet use declining since 2018-19: World Bank paper

While noting that this analysis was for the absolute increase from 2014-15 to 2019-21, the paper also said that the annual improvements in regular toilet use had not been linear “and masks two distinct phases evident in the data”.

The Hindu

Investigation launched into killings and evictions on World Bank tourism project

Tanzania government blamed for violence against villagers in national park, while thousands more people face losing their homes

The Guardian - UK

I don't have house in my name, but my govt turned lakhs of daughters in country house-owners: PM Modi

PM Modi launched various development projects worth over ₹5,000 crore, including projects worth ₹4,500 crore related to education sector in Gujarat

The Hindu

Who wants to rule the world? I will, says Joe Biden. No, it’ll be me, says Xi Jinping

The US and China are building rival global coalitions as the UN stumbles. Tackling collective challenges will be harder in a fragmented world

The Guardian - UK

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Agencies want World Bank and T.N. govt to address long-pending issues in housing projects for urban poor

Non-govt orgs demand WB, TN govt intervention to address long-pending issues in WB-funded housing projects for urban poor. Report highlights unresolved issues, threats of eviction, delays in land alienation. WB urged to propose remedial measures, TN govt to form high-level committee to monitor progress, TNUHDB to put in place transparent…

The Hindu

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

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

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The Conversation

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 Guardian - AU

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 Hindu

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…

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France 24

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…

The Independent UK

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 Hindu

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 Conversation

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.

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

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