The Latest Breaking News from the World Bank

The World Bank's new president Ajay Banga on Friday asked the lender's 16,000 staff to "double down" on development and climate efforts as he seeks to accelerate the bank's evolution to tackle the most pressing global problems.

South Africa will host the BRICS summit in August 2023. The event could offer the country an opportunity to exercise leadership in the BRICS’ efforts to reform the arrangements for global economic governance and in supporting sustainable and inclusive development in Africa and the Global South. However, the opportunity has…

Thailand must bolster its revenue collection in the long term to meet growing public spending needs stemming from an ageing population, according to the World Bank.

Thailand's economy is on a solid path to recovery and showing resiliency, helped by good revenue collection and a normalisation of its tourism sector, while inflation should come in below 3% this year, the finance minister said on Monday.

The World Bank has approved a $300 million additional financing to Lebanon's poor, giving cash to families struggling in the country’s historic economic meltdown

Ha Long (Vietnam) (AFP) - Squinting in the bright light of a hot summer morning, Vu Thi Thinh perches on the edge of her small wooden boat and plucks a polystyrene block from the calm waters of Vietnam's Ha Long Bay.

As rains failed, Tunisian farmers watched their crops wither this spring, harvesting early to salvage some as animal feed and piling costs on a state struggling to afford wheat imports with bakeries running out of bread.

Africa Day this year marks 60 years since the founding of the Organisation of African Unity (OAU). The anniversary begs the question: How much of the vision of the OAU’s founding fathers has been realised 60 years on? What would not be there but for the efforts of the organisation…

Beirut (AFP) - The World Bank has warned that nearly half of crisis-hit Lebanon's economy is now cash-based as trust in banks has plummeted, heightening money laundering risks and slashing hopes for recovery.