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The Latest Breaking News from World Bank

World Bank suspends $1 billion worth of project funding in Congo

The World Bank has suspended funding for humanitarian and development projects in Democratic Republic of Congo worth more than $1 billion after the government dissolved the project fund without warning, the lender said.

Reuters

Off-grid solar brings light, time and income to remotest villages

In Indonesia's far-east island of Sumba, off-grid solar is lighting up lives for residents still living out of reach of the country's national electricity provider

The Independent UK

World bank team holds discussions with Kerala govt., reviews activities under Rebuild Kerala Initiative

Senior World Bank officials have expressed interest in the various projects planned by Kerala for achieving carbon neutrality by 2050, the State government said on Friday.

The Hindu

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World Bank Vice President calls for continued vigilance against zoonotic diseases

Martin Raiser, Vice President for the South Asia Region, World Bank, on Friday underscored the need for continued vigilance against zoonotic diseases.

The Hindu

$315 million World Bank funding in the pipeline for State: World Bank VP

Additional World Bank funding for Kerala totalling $315 million, subject to negotiations and approvals, is in the pipeline, Martin Raiser, Vice President for the South Asia Region, World Bank, said here on Friday.

The Hindu

Morning Digest | Late night scuffle between wrestlers, Delhi police at Jantar Mantar; Ajay Banga becomes World Bank chief unopposed, and more

The Hindu’s Morning Digest brings readers a select list of stories to start the day

The Hindu

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

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Global Food Security Remains Under Threat, Despite Drop in Commodity Prices

Global commodity prices are expected to decline this year at the fastest clip since the onset of the COVID-19 pandemic, clouding the growth prospects of almost two-thirds of developing economies that depend on commodity exports, according to the World Bank's latest Commodity Markets Outlook report. However, according to the bank's…

Asharq Al-Awsat

World Bank: MENA Region Faces Unprecedented Water Scarcity

The Middle East and North Africa (MENA) region is going to face unprecedented water scarcity in the future, warned the World Bank. In a report, titled "The Economics of Water Scarcity in the Middle East and North Africa Region – Institutional Solutions," it indicated that by 2030, the water available…

Asharq Al-Awsat

Reconstruction in Ukraine: Kyiv hopes to attract private investors

Russian forces continue to wage war across Ukraine, but Volodymyr Zelensky's government is already looking ahead to the task of rebuilding. The European Commission and World Bank predict that this could come with a price tag of some $400 billion. Oleksandr Gryban, Ukraine’s Deputy Economy Minister admits that attracting investors…

France 24

World Bank: Global migration to grow, needs better management

Rapid aging of both wealthy and middle-income countries will make their economies increasingly dependent on migration from poorer countries, and the process needs to be better managed, the World Bank said on Tuesday.

Reuters

World Bank President Praises Saudi Arabia for Helping Evacuate its Staff from Khartoum

World Bank Group President David Malpass expressed on Tuesday his gratitude and appreciation to Custodian of the Two Holy Mosques, King Salman bin Abdulaziz for the Kingdom’s contribution and support in evacuating the World Bank staff from Sudan to Saudi Arabia. ‎In a letter sent to King Salman, he said:…

Asharq Al-Awsat

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

World Bank warns Fiji to cut debt urgently or risk stalling pandemic recovery

Fiji must take urgent action to reduce a debt burden that exceeds 90% of gross domestic product or put at risk its recovery from the COVID pandemic and plans for sustainable economic development, the World Bank said on Tuesday.

Reuters

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The Independent UK

Slow start on World Bank reform angers climate-hit countries

World Bank meetings in Washington were supposed to be a first step in a new era of affordable loans for developing nations hard hit by climate change

Caixin Global

PBOC Chief and Fed Chair Hold First In-Person Meeting Since 2019

Central bank Governor Yi Gang also confers in Washington with G-20 officials and Bank of Japan chief amid World Bank and IMF meetings

Foreign Policy

The World Bank Is Still Failing the Poor

Poverty alleviation in the economically weakest parts of the world will require giving the poor a real seat at the table—which the World Bank has…

Dynamite News

Nirmala Sitharaman, World Bank chief discuss empowering women leaders

Union Minister Nirmala Sitharaman on Thursday (local time) participated in a panel discussion on 'Empowering Women as Entrepreneurs and Leaders' in Washington DC. Read further on Dynamite News:

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The Independent UK

Workers at anti-poverty World Bank struggle to pay bills

As finance leaders from around the world meet at the World Bank in Washington this week, food service workers at the poverty-fighting organization are highlighting what they see as a galling situation: The workers who put food on the table for an organization whose mission is to fight poverty are…

Reuters

U.S., UK, EU officials met with financial firms on Russian sanctions evasion

Senior officials from the United States, Europe and Britain met on Thursday with financial institutions to brief them on efforts by Russia to evade Western sanctions imposed over its invasion of Ukraine, a senior U.S. Treasury official told reporters.

France 24

'We need to stay engaged with developing countries': World Bank's van Trotsenburg

The World Bank and International Monetary Fund's Spring Meetings kicked off this week with concerns over high inflation, rising geopolitical tensions, climate change and financial instability. World Bank Senior Managing Director Axel van Trotsenburg told FRANCE 24 that "we need to stay engaged with developing countries. More than ever, problems…

France 24

Brazil's Lula takes swipe at IMF and World Bank on China trip

Brazilian President Luiz Inacio Lula da Silva has praised the Shanghai-based New Development Bank (NDB) on his trip to China, saying it "frees emerging countries from submission to traditional financial institutions". The NDB was created by the BRICS group and is headed by his predecessor Dilma Rousseff. Meanwhile in Washington,…

The Guardian - UK

First Thing: Pentagon leaks linked to young gun enthusiast employee – report

Man known online as ‘OG’ said to have access to classified material and to regard intelligence services as repressive. Plus, why America’s most popular flower ‘never goes out of style’

The Independent UK

New India-born World Bank chief: Real change or rebranding?

The incoming president of the World Bank was born in India and had his early success in business there

Financial Times

How China changed the game for countries in default

The fragile process for dealing with insolvent economies is now at risk of unravelling completely owing to a powerful and unpredictable force in sovereign debt

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