The Latest Breaking News from World Bank

U.S. President Joe Biden nominated former Mastercard Inc CEO Ajay Banga to lead the World Bank, betting the India-born executive's ties to the private sector and emerging markets will jump-start the 77-year-old institution's overhaul to better address climate change.

The United States is nominating former Mastercard CEO Ajay Banga to lead the World Bank

The economy defied fears of a recession and previous predictions that it would contract by more than 12 percent.

Global hunger declined for decades before pandemic policies and Russia’s invasion broke the world.

Middle East and North Africa (MENA) countries should follow the lead of Saudi Arabia, the United Arab Emirates, and the Gulf states in economic reforms, said World Bank Vice President for Middle East and North Africa Ferid Belhaj. Belhaj explained that Gulf countries worked on deep and structural reforms by…

When asked about climate change, David Malpass said he’s “not a scientist.” Soon he won’t be a World Bank president

Many believe there is little future in trying to tackle problems of the 2020s with institutions created in the 1940s

Africa’s agriculture sector accounts for about 35% of the continent’s gross domestic product, and provides the livelihood of more than 50% of the continent’s population. These shares are more than double those of the world average and much higher than those of any other emerging region.

U.S. Treasury Secretary Janet Yellen will travel to India next week for G20 finance meetings that will focus on unblocking distressed-country debt restructuring, boosting support for Ukraine and reforming multilateral development banks.