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The Latest Breaking News from World Bank

World Bank puts cost of rebuilding Ukraine at $411 billion

A new World Bank report puts the cost of Ukraine’s recovery and rebuilding from Russia’s invasion at $411 billion over the next decade

The Independent UK

Pressure grows on shipping industry to accept carbon levy

World Bank among those urging levy to fund climate action in developing world and encourage fleets to upgrade

The Guardian - UK

World Bank estimates Syria's three-year earthquake recovery needs at $7.9 billion

The World Bank on Monday said the February earthquakes are expected to have caused Syria's real GDP output to contract by 5.5% in 2023, with recovery and reconstruction needs estimated at $7.9 billion over three years.

Reuters

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A Eugene Kohn: Architect of soaring skyscrapers

His New York-based firm was a global powerhouse responsible for four of the tallest buildings in the world

The Independent UK

World Bank Sets Conditions for Lebanon to Access Electricity Funding

Lebanon has to audit its state electricity company among other reforms the World Bank has required before it will consider funding Lebanon's worn-down electricity sector, the bank's regional vice president Ferid Belhaj said on Tuesday. Public provision of electricity in Lebanon has been poor since the country's 1975-90 civil war…

Asharq Al-Awsat

Nigeria’s cities are growing fast: family planning must be part of urban development plans

Nigeria is rapidly urbanising, with more people living in urban areas than in rural communities. A recent World Bank estimate shows that 53% of the 213 million Nigerians live in urban areas. That’s projected to rise above 70% by 2050.

The Conversation

Rights group says Lebanon electricity crisis deepens poverty

Human Rights Watch says many middle and working class families in Lebanon have been forced to spend most of their monthly income to pay shady neighborhood businessmen running private generators

The Independent UK

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Tunisia's president is targeting migrants to divert attention from serious domestic problems – a classic tactic

Tunisia’s president Kais Saied recently called for urgent measures against illegal immigration of sub-Saharan African nationals. He said they were a source of “violence, crime and unacceptable acts”. His comments were condemned by the international community and the World Bank paused talks over its future engagement with Tunisia. They also…

The Conversation

Costa Rica ponders ways to sustain reforestation success

Costa Rica went from having one of the world’s highest deforestation rates in the 1980s to a nation centered on ecotourism

The Independent UK

World Bank Halts Talks with Tunisia over President's Anti-migrant Remarks

The World Bank is pausing talks over its future engagement with Tunisia following anti-immigrant comments made by the country's president, Kais Saied, according to an internal message to staff seen by AFP.

Asharq Al-Awsat

World Bank halts Tunisia program amid migrant crackdown

The World Bank suspends work with Tunisia over a spike in racist attacks fuelled by an inflammatory speech by President Kais Saied. In Nigeria, the opposition party leads peaceful protests in condemnation of the electoral commission's handling of last month's flawed presidential election. And a few hours after the Michelin…

France 24

World Bank halts Tunisia program over president's migrant remarks

WASHINGTON - The World Bank is pausing talks over its future engagement with Tunisia following anti-immigrant comments made by the country's president, Kais Saied, according to an internal message to staff seen by AFP.

Bangkok Post

A Month after Quake, Survivors Need Shelter, Sanitation

One month after a powerful quake devastated parts of Türkiye and Syria, hundreds of thousands of people still need adequate shelter and sanitation, and an appeal for $1 billion to assist survivors is only 10% funded, hampering efforts to tackle the humanitarian crisis, a United Nations official said Monday. The…

Asharq Al-Awsat

Hundreds of thousands of survivors still need help a month after deadly Turkey earthquakes

An appeal for $1bn (£832m) to assist people across the country is only 10 per cent funded, UN official says

The Independent UK

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The Independent UK

A month after quake, survivors need shelter, sanitation

A United Nations official says one month after a powerful quake devastated parts of Turkey and Syria, hundreds of thousands of people continue to have “extensive humanitarian needs,” including shelter and sanitation

Al Jazeera

How town at the epicentre of Turkey’s 1999 earthquake was rebuilt

As Turkey reels from last month’s tremors, Golcuk’s reconstruction could offer glimpse into what needs to happen now.

Asharq Al-Awsat

Earthquakes Caused $5.1 Bln in Damage in Syria, World Bank Estimates

The deadly earthquakes that hit Turkey and Syria last month caused about $5.1 billion in direct physical damage in Syria, the World Bank said on Friday, furthering destruction in a country already devastated by years of civil war. The current value of damaged and destroyed buildings and infrastructure is estimated…

France 24

SOS diaspora: How Lebanese abroad help their country survive crisis

As their country sinks deeper into a financial crisis, more Lebanese people depend on money sent by relatives living abroad to survive. Remittances sent by the Lebanese diaspora, one of the largest in the world, partly explain why Lebanon has not yet descended into social chaos or full-scale revolt, despite…

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Bangkok Post

How to finance global survival

We must face, and act upon, an inconvenient truth. The impact of human activities on Earth's geology and ecosystems is threatening the foundations of life on our planet and decades of progress in human development.

The Times of India

India lends support to Ajay Banga's nomination for World Bank President post

NEW DELHI: India on Thursday extended support to the candidature of Ajay Banga as World Bank President, saying his nomination comes at a time when the multilateral lending agency is considering next-generation reforms.

France 24

Turkey's Erdogan indicates May elections to go ahead despite quake

Turkish President Recep Tayyip Erdogan indicated on Wednesday that his government still intends to hold elections a month earlier than scheduled despite an earthquake last month that devastated parts of southern Turkey.

Fortune

70% of dealmakers say that investment managers share culpability for FTX

Investors have historically been made out to be victims in court when a startup implodes. But investors think VC firms share some responsibility.

The Independent UK

Turkey intends to hold elections on May 14 despite quake

Turkey's president has indicated that his government intends to hold elections in May despite an earthquake that devastated parts of southern Turkey

The Times of India

India's Q3 GDP at 4.4%; economy to grow at 7% in FY23

NEW DELHI: India's gross domestic product for the third quarter (September-December 2022) of financial year 2022-23 grew by 4.4%, data released by the Centre showed on Tuesday.

Asharq Al-Awsat

Sudan to Raise Import Duties on 130 Items

The Sudanese authorities have raised customs duties on 130 commodities, including gasoline and wheat, to cover the expected deficit in this year's budget. The tariff hike, which immediately entered into force, would increase the prices of many imported and local goods amid the country's stagflation. The Customs Authority stated that…

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