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The Latest Breaking News from the World Bank

World Bank freezes loans to Uganda because of anti-gay laws. But it doesn't mean it's becoming a human rights watchdog

Many people may be tempted to view the World Bank’s recent announcement that it will freeze new loans to Uganda because of the country’s vicious anti-LGBTIQ+ law as a harbinger of the Bank taking a more progressive approach to human rights issues.

The Conversation

Kerala Solid Waste Management Project set to get off the ground next week

Kerala to shift from decentralised to hybrid waste mgmt approach, ₹2400 cr KSWMP to start next week. Project to cover 6 Corp & 87 muni, ₹800 cr for regional facilities, dust bins to return, modern waste collection vehicles, 70% funds from WB & AIIB, 30% from State.

The Hindu

Explained | How One Health can help India respond better to health crises

The economic benefits of One Health are understood in contrast to the cost of managing a pandemic with a non-One-Health approach. An assessment of the G20 Joint Finance and Health Taskforce estimated the latter to be around $30 billion a year. On the other hand, estimates by the World Bank…

The Hindu

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The Taliban are entrenched in Afghanistan after 2 years of rule. Women and girls pay the price

After two years in power, the Taliban are entrenched as rulers of Afghanistan, facing no significant opposition that could topple them

The Independent UK

Ugandan leader defiant after World Bank cuts off loans over anti-LGBTQ law

Ugandan President Yoweri Museveni has denounced the World Bank's decision to suspend new funding in response to a law targeting LGBTQ+ people, accusing the lender of using money to try to "coerce" the country's government.

Radio France Internationale

Uganda defiant after World Bank halts funding over anti-LGBTQ law

President Museveni says the country will reduce borrowing and not give in to pressure from foreign institutions.

Al Jazeera

Brothers at ‘war’: Niger citizens bear the brunt of ECOWAS sanctions

The diplomatic standoff between ECOWAS and Niger coup plotters has made life harder for Nigeriens.

Al Jazeera

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How much is the Russia-Ukraine war costing?

It’s been almost 18 months since Russia began its invasion of Ukraine and an end to the conflict between the two states seems no closer.

The Week

Was the Radical Left Correct About the IMF and World Bank?

Alex Gladstein on how "monetary colonialism" has crippled the Third World

Reason

World Bank says no new funding to Uganda over anti-gay law

The World Bank says it will not consider new loans to Uganda after the East African country earlier this year enacted an anti-gay bill that rights groups and others have condemned

The Independent UK

World Bank halts new loans to Uganda over anti-LGBTQ law

US-based lender says controversial anti-gay law contradicts its values.

Al Jazeera

Banks from 4 Arab countries are in talks to invest in struggling Lebanese banks, official says

Banks from four Arab countries are interested in investing in Lebanon’s struggling banking sector, which has been hard-hit by the small nation’s three-year economic meltdown

The Independent UK

Rate hikes may have slowed inflation in the US – but they have also heightened the risk of financial crises for lower-income nations

The campaign to fight U.S. inflation by upping interest rates has been going on for a year and a half – and its impacts are being felt around the world.

The Conversation

Now a wanted man, Lebanon’s central bank head steps down

Amid accusations of fraud, a tarnished end to a governorship that started in 1993 at the request of the PM.

Al Jazeera

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The Hindu

World Bank to provide assessment of damages due to Himachal floods

The World Bank has offered to provide full support to flood-affected Himachal Pradesh and will provide a comprehensive assessment of the damages which will aid reconstruction efforts, a statement issued here on Friday said.

The Guardian - UK

Top economists call for action on runaway global inequality

Gulf between rich and poor increases risk of climate breakdown as well as entrenches poverty, says letter to UN and World Bank

The Conversation

Looking for work? 3 tips on how social media can help young South Africans

South Africa has a growing unemployment rate. Statistics show the unemployment rate to be above 60% for those aged 15-24 and over 40% for those aged 25-34 years. Rankings from the World Bank position South Africa as having the highest unemployment rate in the world.

Al Jazeera

China-based development bank rejects claims of CCP control

Asian Infrastructure Investment Bank says internal review shows lender follows ‘highest standards’ of governance.

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The Hindu

Pakistan hopes India would implement Indus Waters Treaty in 'good faith'

Pakistan has expressed the hope that India would implement the Indus Waters Treaty in “good faith” after New Delhi

The Hindu

India rejects ruling by Permanent Court of Arbitration in dispute with Pakistan

Bagchi said India’s consistent and principled position has been that the constitution of the so-called Court of Arbitration is in contravention of the provisions of the Indus Waters Treaty.

Tribune News Service

Spending bill targets Kerry’s office, global climate spending

WASHINGTON -- House Republican appropriators want to eliminate funding for John Kerry’s position as President Joe Biden’s special envoy and for other international climate efforts.

Roll Call

Spending bill targets Kerry's office, global climate spending - Roll Call

House Republican appropriators want to eliminate John Kerry's job, one of the cuts they would make to climate spending.

Al Jazeera

Is a global debt bomb about to explode?

The majority of low-income nations are on the cusp of a debt crisis, sparking fears of global contagion.

Bangkok Post

Indonesia regains upper-middle income rank on growth rebound

A strong post-pandemic rebound has pushed Indonesia back into the upper-middle income band of countries, according to the World Bank, putting it back on track to pursue its high-income status goal.

Bangkok Post

Eppo prepping hydrogen pilot project

Energy officials plan to push ahead with hydrogen fuel development in an effort to make it one of the main fuels used in the power, transport and industrial sectors, with the aim of becoming less dependent on fossil fuels, says the Energy Policy and Planning Office (Eppo).

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