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The Latest Breaking News from World Bank

The Pacific’s spiralling debt – and what governments can do about it

Rising debt and declining income seem to add up to an austere future for Pacific Island nations. But belt-tightening may make things worse.

360info

8,000 schools closed to obtain World Bank loan: TDP accuses Andhra Pradesh governmnet

VIJAYAWADA

The Hindu

Chhattisgarh gets Centre’s nod for World Bank funded school project

In-principle approval for $300 million borrowing over five years; World Bank team to visit; detailed plans anticipated

The Hindu

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World Bank to give The Gambia $68m grant to revive tourism sector

Grant is meant to support the diversification and climate resilience of tourism after pandemic and economic crisis.

Al Jazeera

Rising Heat Drives Crippling Sandstorms across the Middle East

Over the past two months, Iraqis have been living, working and breathing in thick clouds of dust, as at least nine sandstorms - lasting up to several days each - have hit the country, blanketing everything in grit. Hospitals have reported a surge in admissions, with thousands of patients coming…

Asharq Al-Awsat

Sri Lanka's crisis rings alarm for other troubled economies

Sri Lanka is desperate for help to weather its worst crisis in recent memory, but it’s not the only economy that’s in serious trouble as prices of food, fuel and other staples soar, partly due to the war in Ukraine

The Independent UK

IIT project in India’s Mumbai uses Twitter to issue flood alerts

Residents asked to tweet about floods in their neighbourhoods in order to make real-time geographically specific alerts.

Al Jazeera

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I can turn around Sri Lanka’s economy: PM Ranil Wickremesinghe

Sri Lanka’s newly appointed prime minister says it will take one and a half years to stabilise the crisis-hit economy.

Al Jazeera

Food security an urgent priority

While an earlier meeting of G-20 delegates in Yogyakarta focused on strengthening the global health system, it is no surprise that the Russia-Ukraine war dominated talks at the summit of the Group of Seven rich nations last week.

Bangkok Post

World Bank Grants Yemen $100 Mn to Expand Electricity Access

The World Bank approved a $100 million grant to Yemen for the second phase of the Yemen Emergency Electricity Access Project, announced Minister of Planning and International Cooperation Waed Badhib. Badhib said that the project aims to increase access to electricity in rural areas and cities' outskirts and plans to…

Asharq Al-Awsat

World Bank Creates Fund to Better Prevent, Respond to Pandemics

The World Bank's board on Thursday approved creation of a fund meant to finance investments in strengthening the fight against pandemics. The fund will support prevention, preparedness and response (PPR), with a focus on low- and middle-income countries, the bank said in a statement. "The devastating human, economic, and social…

Asharq Al-Awsat

Some IMF staff work 'unduly influenced' despite strong safeguards - report

Nearly 20% of International Monetary Fund staff say their work has been "unduly influenced" by supervisors, according to an internal survey released on Thursday as part of a review of data integrity standards that generally found "robust mechanisms" for institutional governance.

Reuters

Could more online learning help fix Australia's teacher shortage?

On Thursday, thousands of teachers went on strike in New South Wales, over pay and “unsustainable” workloads.

The Conversation

TS to implement road safety management project

World Bank agrees to finance US $ 250 million for the project in seven States

The Hindu

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Asharq Al-Awsat

Egypt to Receive $500Mln Loan from World Bank to Address Food Shortage Crisis

The World Bank’s Board of Executive Directors approved on Wednesday a $500 million loan to bolster Egypt’s efforts to ensure that poor and vulnerable households have uninterrupted access to bread, strengthen Egypt’s resilience to food crises and support reforms in food security policies, including to improve nutritional outcomes. In a…

Asharq Al-Awsat

US Disburses $1.3 bn of Promised Aid to Ukraine

The US Treasury Department announced Wednesday the transfer of $1.3 billion in economic aid to Ukraine as part of the initial $7.5 billion promised to Kyiv by the Biden administration in May. "With this delivery of economic assistance, we reaffirm our resolute commitment to the people of Ukraine as they…

France 24

Russia quits Black Sea outpost of Snake Island in blow to blockade of Ukraine

Russian forces have abandoned their positions on Snake Island, a Ukrainian outpost in the Black Sea, weakening their blockade of Ukraine's ports, Ukrainian defence officials said on Thursday. US President Joe Biden said Washington will announce an additional $800 million in military aid for Kyiv at the close of a…

Bangkok Post

World Bank views Thai uptick at 2.9%

Thailand's economy is expected to expand by 2.9% in 2022, unchanged from a forecast in April, supported by private consumption and a tourism recovery, according to the World Bank.

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The Independent UK

World Bank agrees $500m to help Egypt fund wheat purchases

Egypt will receive $500 million loan from the World Bank to help the Arab world's most populous country finance its purchases of wheat

Asharq Al-Awsat

World Bank Approves $130M Loan to Tunisia to Finance Wheat Imports

The World Bank has said it approved a $130 million loan to Tunisia to finance wheat imports.

Asharq Al-Awsat

Yemen Agrees with World Bank to Support Institutions, Achieve Economic Recovery

The World Bank agreed to support government institutions and achieve economic recovery in Yemen, Prime Minister Maeen Abdulmalik has announced. Abdulmalik said Yemeni officials met with World Bank and International Finance Corporation officials in Aden. The meeting resulted in an agreement on boosting the Bank's presence in the interim capital…

Al Jazeera

Ukraine latest updates: Battle for Lysychansk city grinds on

Ukraine news from June 29: Lysychansk is last eastern stronghold following retreat of Ukraine forces from Severodonetsk.

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.

Bangkok Post

How G7 can help those with debt

From the weekend until today, G7 leaders have gathered in Germany to discuss a litany of overlapping global crises, including the war in Ukraine, food insecurity, inflation, backlogged global supply chains, the pandemic response and climate change. These challenges have a common denominator: All are falling hardest on low- and…

The Hindu

World Bank approves $250 mn loan for road safety

The project will be implemented in seven States

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