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The Latest Breaking News from IFC

World Bank CEO Denies IFC Cover-Up of Kenya School Abuse

World Bank denies covering up abuse involving a Kenya school investment, refuting allegations of an IFC cover-up. Details on the controversy at hand.

Top News

'To shift the balance': Carnell and Emerson launch ACT independents party

The game just changed for the 2024 territory election.

The Canberra Times

World Bank Faces Accusations of 'Turning Blind Eye' to Sexual Abuse in Kenyan Schools

The World Bank's failure to act on early warnings and reports of sexual abuse has perpetuated a culture of impunity.

International Business Times UK

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World Bank accused of ‘turning blind eye’ to sexual abuse in Kenyan schools it funded

Calls grow for independent inquiry after the bank’s internal watchdog found 21 cases of child sexual abuse by teaching staff

The Guardian - UK

Projects funded by the World Bank Group's private sector arm fuel violent conflict – it's time to reform the system

To what extent does private investment help developing countries to reduce conflict and violence and to achieve the Sustainable Development Goals?

The Conversation

The energy transition is under threat as the Global South lags behind

Together, we can make climate-smart economies the new global standard, write the IFC's Makhtar Diop and Masdar's Mohamed Jameel Al Ramahi.

Fortune

World Bank spent billions of dollars backing fossil fuels in 2022, study finds

Campaigners estimate about $3.7bn in trade finance was supplied to oil and gas projects despite bank’s green pledges

The Guardian - UK

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Water level now receding gradually, will take a day’s time: Delhi PWD minister Atishi on waterlogging

Delhi Public Works Department (PWD) Minister Atishi on Friday said that the water level of Yamuna river is receding gradually at a rate of 0.1 metre and will take a day’s time for the situation to return to normal.

Dynamite News

Thai Credit banks $105m IFC loan

International Finance Corp (IFC), a unit of the World Bank Group, is providing a US$105-million loan to Thai Credit Retail Bank Plc (Thai Credit) to support female entrepreneurs in Thailand.

Bangkok Post

Summer movie season is in full swing. Here's what's coming through Labor Day

There is something for everyone at the movies this summer, both in theaters and streaming at home

The Independent UK

Siamese Asset targets green certification for all new projects

SET-listed developer Siamese Asset plans to apply for green certification for all of its new projects, hoping to qualify for a green loan from the World Bank Group's International Finance Corporation (IFC).

Bangkok Post

Fosun Pharma Secures $54 Million of IFC Loans for West Africa Plant

Côte d’Ivoire factory will produce anti-malaria and anti-bacterial drugs to improve public health across the region, World Bank unit says

Caixin Global

Summer Movie Guide: What to watch from May through Labor Day

There is something for everyone at the movies this summer, both in theaters and streaming at home

The Independent UK

World Bank staff were told to give special treatment to son of Trump official

Exclusive: Leaked recording raises concerns over governance at development bank, at which David Malpass is now president

The Guardian - UK

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Creative Bloq

New EA Sports FC logo misses the net

Fans think it's getting confused with another sport.

Los Angeles Times

Hasan Minhaj’s savage monologue sends gasps through Spirit Awards

LOS ANGELES — “Let’s dream big. This is our time to do it.”

Reuters

External backers pour billions into Ukraine to counter war damage

Pictures of devastation in Ukraine following Russia's invasion have sparked urgent questions over how its reconstruction can be paid for. But before they can even begin to be answered, Kyiv is seeking billions just to ride out this year.

The Independent UK

$2B in loans to help Ukraine's ag, fuel import businesses

Private businesses in Ukraine are in line to receive $2 billion in financing arranged by the International Finance Corp. to help rebuild the country’s agriculture and fuel import industries and other ventures, which have faced extensive losses because of the war

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Asharq Al-Awsat

World Bank Launches $2 bn Ukraine Private Sector Aid Package

The World Bank on Thursday announced a $2 billion package to support Ukraine's private sector, in a bid to help pave the way for reconstruction amid the devastation resulting from Russia's invasion. The latest package by the International Finance Corporation (IFC), the bank's development arm focused on private-sector development in…

Reuters

World Bank's private arm launches $2 billion program to help Ukrainian businesses

The World Bank's private investment arm on Thursday said it had launched a $2 billion support package for Ukraine to help build the resilience of the Ukrainian private sector devastated by Russia's war and to prepare for reconstruction.

Asharq Al-Awsat

Egypt Close to Deals on 1GW of Solar and Wind Projects

COP27 host Egypt is close to signing final agreements to build two wind and solar projects with combined capacity of a gigawatt (GW) to boost the country's lagging renewable power development. High levels of solar irradiation, strong winds and expanses of desert in which to construct plants mean Egypt has…

The Independent UK

Cornell frat parties on hold; druggings, assault reported

Fraternity parties are temporarily suspended at Cornell University after reports that a student was sexually assaulted over the weekend and four others were reportedly drugged in recent weeks

Tribune News Service

TV shows to watch this week: Zoe Saldana takes a back seat to Italy in 'From Scratch'

'From Scratch'

Wales Online

Mum who suffered nine miscarriages before baby son urges couples to consider treatment abroad

Pamela Mackenzie finally fell pregnant after travelling to Prague for IVF treatment

The Conversation

Uber files: how World Bank-sponsored research on gender painted the company in a positive light

The recent leak of 124,000 confidential Uber documents has shed light on some of the ethically questionable activities that have arguably helped fuel the ride-hailing company’s global rise. Among allegations of law breaking and the secret lobbying of government figures, the “Uber files” show that the company paid academics to…

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