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The Latest Breaking News from the World Bank

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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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 Hindu

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 Guardian - UK

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.

The Conversation

China-based development bank rejects claims of CCP control

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

Al Jazeera

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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.

The Hindu

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.

Tribune News Service

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.

Roll Call

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.

Al Jazeera

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).

Bangkok Post

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Bangkok Post

World Bank puts Thai growth at 3.9%

Thailand's economy is projected to expand 3.9% in 2023 from 2.6% last year because of stronger demand from China, Europe and the US, private consumption growth and a recovery in tourism, says the World Bank in its semi-annual Thailand Economic Monitor.

The Hindu

World Bank to provide nearly ₹3000 crore for flood prevention in the city

The State government is in the final stages of finalising an action plan for a World Bank project to prevent floods in the city. The project will make a whopping ₹3000 crore available for flood mitigation in the city, parts of which have been flooded over the years including in…

Bangkok Post

World Bank lifts Thailand growth forecast

The World Bank has upgraded its economic growth forecast for Thailand, saying improved performance will be helped by private consumption growth and a recovery in tourism.

Bangkok Post

How Thailand's welfare state could change

For the past few decades, many countries have been working towards providing "healthcare for all", including equity in access to healthcare and healthcare financing.

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The Guardian - UK

‘We could lose our status as a state’: what happens to a people when their land disappears

Small island countries press for guarantees as rising sea levels risk leaving their citizens stateless

Bangkok Post

World Bank: Myanmar recovery years away

The economy of Myanmar has shown some signs of stabilising in the first half of this year but it is unlikely to recover to pre-Covid levels until 2027 or 2028, according to the World Bank.

The Hindu

World Bank approves $391 million for Assam, Tripura to boost healthcare, economic opportunities

The World Bank on June 26 approved $391 million in financing to improve access to high-quality healthcare services and to economic opportunities for people in Assam and Tripura

The Hindu

World Bank approves $255.5 million loan for better technical education in government-run institutions in India

The World Bank has approved a $255.5 million loan for improving the quality of technical education in government-run institutions in India.

The Guardian - UK

Paris finance reforms could untie poor countries’ hands in climate crisis

Changes to the World Bank could unlock developing states access to loans and to the means of staving off disaster

The Guardian - UK

Paris climate finance summit fails to deliver debt forgiveness plan

Countries in debt distress thrown financial lifeline but critics say measures fall short of what is needed

Radio France Internationale

Rich nations pledge to unlock hundreds of billions for climate fight

Multilateral development banks like the World Bank are expected to find $200 billion in extra firepower for low-income economies by taking on more risk, a move that may require wealthy nations to inject more cash, world leaders said on Friday.

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