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The Latest Breaking News from World Bank

Stage set for conflict at COP28 with mixed response to outcome of key climate talks

Tense negotiations at the final meeting on a climate-related loss and damages fund — an international fund to help poor countries hit hard by a warming planet — ended Saturday in Abu Dhabi, with participants agreeing that the World Bank would temporarily oversee the fund for the next four years

The Independent UK

Climate crisis talks resume on ‘loss and damage’ funding for poorest countries

World leaders will reconvene in Abu Dhabi before UAE’s Cop28 after talks broke down two weeks ago

The Guardian - UK

What Revolut’s attempt to secure a UK banking licence could mean for its current customers and for the 'unbanked'

Last year, the CEO of financial technology (fintech) company Revolut added a UK banking license to his 2022 Christmas wish list, telling startup news outlet Sifted: “I would love to have it as a Christmas present. A present for me personally and for the business.”

The Conversation

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Oil prices could reach 'uncharted waters' if the Israel-Hamas war escalates, the World Bank says

The World Bank says oil prices could be pushed into “uncharted waters” if the violence between Israel and Hamas intensifies

The Independent UK

World Bank warns oil price could soar to record $150 a barrel

Escalation of Israel-Hamas war into Middle East-wide conflict would disrupt oil supplies and stoke food prices, says Bank

The Guardian - UK

International experts to feature in Keraleeyam seminars

Keraleeyam 2023: 20+ int'l experts to lead 25 seminars. Robin Jeffrey, Patrick Heller to discuss Kerala economy. Richard A. Cash to lecture on pandemic. Prakash Kalarickal, Glenn Denning to speak on dairy, food security. World Bank's Dilip Ratha, Rajai Jureidhini from Hamad Bin Khalifa Univ. to join.

The Hindu

The World Bank and the IMF need to keep reforming to become fit for purpose

The World Bank and the International Monetary Fund are being challenged to make substantial reforms so that they become fit for purpose in the 21st century.

The Conversation

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World Bank to implement LGBTQ safeguards before resuming new Uganda funding

The World Bank will aim to ensure gay and transgender Ugandans are not discriminated against in its programmes before resuming new funding, which was halted in August over an anti-LGBTQ law, a bank executive said.

Radio France Internationale

UK needs to rebuild global development reputation, admits Andrew Mitchell

Development minister’s comments at World Bank summit in Marrakech acknowledge effect of aid budget cuts

The Guardian - UK

Rich nations, the IMF and World Bank are worried about the Israel-Hamas war, but not nearly enough

Just like the Yom Kippur war 50 years before, the current conflict represents a grave threat to an already fragile global economy

The Guardian - UK

Africa’s ‘optimist-in-chief’ on the continent’s renaissance: ‘Don’t just believe me, believe the data’

In an exclusive interview, Akinwumi Adesina, head of the African Development Bank, says the outlook is good for a continent with the workers of the future and the best investment opportunities

The Guardian - UK

IMF and World Bank are urged to boost funding for African nations facing conflict and climate change

Most of the population in conflict-affected countries like Niger, Mali, Burkina Faso, Chad and northern Nigeria depends on climate-vulnerable agriculture

The Independent UK

Severe debt burdens thwarting progress on climate and poverty, says World Bank

Bank’s new president Ajay Banga urges faster action on providing debt relief but says there is no ‘magic wand’

The Guardian - UK

'Ending poverty on a liveable planet': World Bank in push to boost climate finance

As the annual meetings of the International Monetary Fund and World Bank take place this week in Marrakech, FRANCE 24's Charles Pellegrin speaks to the World Bank's Senior Managing Director Axel Van Trotsenburg about the urgent need to increase climate financing, calls for reform of the institution and the potential…

France 24

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The Independent UK

Morocco welcomes the annual meeting of the IMF and World Bank a month after its deadly earthquake

The International Monetary Fund and World Bank are holding their annual meeting in Morocco, one month after an earthquake killed nearly 3,000 people in the North African country

Radio France Internationale

IMF, World Bank hold first meetings in Africa in 50 years

The IMF and World Bank gather in Morocco Monday for their first annual meetings on African soil in 50 years, under pressure to reform to better aid poor nations blighted by debt and climate change.

Foreign Policy

The World Bank’s Big Week

What to know ahead of the institution’s annual meetings.

The Guardian - UK

IMF clings to a hopeful agenda as crisis follows crisis

At the fund’s annual meeting this week in Morocco, ambitions for climate and debt relief may be overwhelmed by events – again

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The Conversation

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.

Al Jazeera

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.

The Independent UK

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 Hindu

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 Guardian - UK

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 Hindu

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 Guardian - UK

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

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