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The Latest Breaking News from the World Bank

Major Climate-GDP Study Under Review After Facing Challenge

A blockbuster study published in top science journal Nature last year warned that unchecked climate change could slash global GDP by a staggering 62 percent by century's end, setting off alarm bells among financial institutions worldwide.

International Business Times

Explained: Why India’s inequality is underestimated

India’s consumption gap appears to shrink, but income inequality is rising fast, as per analysis of India’s consumption data by the World Bank.

Newslaundry

Trump’s tariff bullying: Why India must stand its ground

Donald Trump’s chaotic act continues. His latest move: slapping a 25 percent tariff and a penalty on Indian goods exports to the United States.It’s vintage Trump – unapologetic – designed to get the other side, in this case India, to surrender to his demands. He is like a kid in…

Newslaundry

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Afghans Show Solidarity As Migrant Returns From Iran Surge

At the border with Iran, Fatima Rezaei distributes food and hygiene products to Afghans forced to return, unable to passively stand by as the deportation crisis grows.

International Business Times

UK admits foreign aid cuts could see deaths rise – with Africa hit hardest

The government’s own impact assessment warns that cuts to projects will likely increase death and disease

The Independent UK

Funding for some aid organisations and countries to be cut, minister says

The minister for development said the Government is ‘modernising’ its approach.

Evening Standard

Hanoi Scooter Riders Baulk At Petrol-powered Bikes Ban

Vietnam's plan to bar gas-guzzling motorbikes from central Hanoi may clear the air of the smog-smothered capital, but riders fear paying a high toll for the capital's green transition.

International Business Times

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Education aid cuts to severely harm futures of children across developing world, research says

Exclusive: The slashing of aid by countries like the US and UK will be felt for years, new research suggests

The Independent UK

Trump brutally ended Obama’s flagship project to power Africa – but the dream is not dead

IN FOCUS: Power Africa – established more than a decade ago – aimed to help bring stable electricity to 600 million people across Africa, writes Nick Ferris, before being cut by the current president. But all hope is not lost

The Independent UK

Cash in Gaza: Palestinians pay a high price in a shattered economy

At a time of surging inflation, high unemployment and dwindling savings, the scarcity of cash has magnified the financial squeeze on families, some of whom have begun to sell their possessions to buy essential goods.

Euronews

Cash is scarce in Gaza. Palestinians are paying a high price to get it

Cash is the lifeblood of the Gaza Strip’s shattered economy, and like all other necessities in this war-torn territory — food, fuel, medicine — it is in extremely short supply

The Independent UK

Concern that Ukraine will be split up casts shadow over reconstruction talks

Leaders meet in Rome amid forecasts that more than a third of rebuild costs could fall to Russia if Ukraine concedes land

The Guardian - UK

As US abruptly ends support, Liberia faces empty health clinics and unplanned pregnancies

Roseline Phay is a farmer in the West African nation of Liberia

The Independent UK

Modi government called ‘out of touch’ for claiming India is one of world’s most equal nations

World Bank data seized upon by government – but economists say it doesn’t paint the full picture

The Independent UK

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The Conversation

Why investing in climate-vulnerable countries makes good business sense

At a coastal port in Chittagong, Bangladesh, something remarkable is underway. With support from a US$850 million (£620 million) investment from the World Bank, engineers are building flood-resistant infrastructure that can survive rising seas and stronger storms. A new 3.7-mile-long barrier will protect people, homes, and trade in one of…

Radio France Internationale

UN chief says aid surge needed to face 'climate chaos, raging conflicts'

UN Secretary-General Antonio Guterres urged the world to "rev up the engine of development" at an aid conference in Spain on Monday at a time when US-led cuts are jeopardising the fight against poverty and climate change.

International Business Times

UN Conference Seeks Boost For Aid As US Cuts Bite

A UN conference aiming to rally fresh support for development aid begins in Spain on Monday with the sector in crisis as US-led funding cuts jeopardise the fight against poverty.

The Independent UK

World Bank warns that 39 fragile states are falling further behind as conflicts grow, get deadlier

The world’s most desperate countries are falling further and further behind, their plight worsened by conflicts that are growing deadlier and more frequent

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The Guardian - UK

Rising poverty in conflict zones ‘causes a billion people to go hungry’

In first assessment since pandemic in 2020, World Bank urges other countries to step up support

The Conversation

Africa’s development banks are being undermined: the continent will pay the price

Ghana and Zambia’s official creditors are pressing them to default on loans to two African multilateral financial institutions: the African Export-Import Bank (Afreximbank) and the Trade and Development Bank (TDB).

Euronews

World Bank approves $1bn for development projects in Iraq, Syria and Lebanon

The biggest amount went to Iraq, where the World Bank approved $930 million to help improve the country’s railway infrastructure, boost domestic trade and create jobs.

Al Jazeera

India forcibly sterilised 8m men: One village remembers, 50 years later

The imposition of a state of national emergency on June 25, 1975, was India’s closest brush with dictatorship.

Euronews

AIIB elects former anti-corruption official as new president

Zou Jiayi has been elected as the next president of the Asian Infrastructure Investment Bank (AIIB) by the group’s board of governors.

The Independent UK

World Bank grants South Africa a $1.5B loan for infrastructure upgrade and green energy transition

South Africa's National Treasury says the World Bank has granted South Africa a $1.5 billion loan to upgrade transportation infrastructure and help it transition toward a low-carbon economy

International Business Times

World Bank And IMF Climate Snub 'Worrying': COP29 Presidency

The hosts of the most recent UN climate talks are worried international lenders are retreating from their commitments to help boost funding for developing countries' response to global warming.

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