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The Latest Breaking News from World Bank

How the BRICS nations failed to rebuild the global financial order

At its launch almost a decade ago, the BRICS nations’ New Development Bank (NDB) was celebrated as a chance for countries across the Global South to break free of the US-dominated IMF and World Bank and rewrite the rules of financing global development. But while the number of nations signed…

France 24

Clinton Global Initiative will return to New York with Jose Andres, Orlando Bloom, and Matt Damon

The Clinton Global Initiative 2023 will convene “leaders, innovators and dreamers” – ranging from World Bank President Ajay Banga and The Bahamas’ Prime Minister Philip E

The Independent UK

Evidence-based digital investments can help governments save up to 15% of health system costs: World Bank report

World Bank report finds health systems use less than 5% of available data to improve patient outcomes. Digital tech and data can help prevent and manage chronic diseases, care for young and ageing populations and prepare for health emergencies. India has shown the way with digital health and Ayushman Bharat.

The Hindu

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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

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

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

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

Reason

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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

Khandre asks officials to prepare DPR for ₹840-crore K-Shore project to clear sea of plastic waste

Minister Khandre directs officials to prepare a project report to prevent plastic waste from entering Karnataka's coastline. World Bank proposed K-Shore project to minimize plastic entry and remove existing plastic from sea. Delegation suggests fishermen help in process, as cleaning sea of plastic could be more remunerative than fishing. World…

The Hindu

Along with Japan and India, China can join debt relief effort for Sri Lanka: Nirmala Sitharaman

Ms. Sitharaman said that a comprehensive, better and quicker approach is required to address the problem within the common framework of the IMF and World Bank, as well as “outside” it.

The Hindu

Morning Digest | Supreme Court asks Centre, six States to respond to plea on lynchings; INDIA MPs to visit Manipur, and more

Read a daily selection of top stories from across India and the world by The Hindu to start your day.

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 Hindu

Explained | Is there a rural bias in national surveys?

Govt of India appointed Pronab Sen panel to review NSO methodology due to articles by Ravi and Debroy claiming outdated survey methodology underestimates India's development. Mohanan and Kundu argue no systematic underestimation, but errors should be minimised. Examining NFHS data, no systematic rural bias found. Pronab Sen Committee should address…

The Hindu

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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 Hindu

Kerala seeks quick nod for KERA

Agriculture Minister P. Prasad has urged the Central government to expedite the approval for the World Bank-assisted Kerala Economic Revival Program (KERA) aimed at agricultural revival through socio-economic interventions.

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.

The Hindu

Morning Digest | ‘Human error’ led to Balasore train tragedy, says report; NCP feud festers, goes to Maharashtra Assembly Speaker’s court, and more

The Hindu’s Morning Digest brings readers a select list of stories to start the day

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The Hindu

India doubles its share of global commercial services exports between 2005 and 2022: World Bank & WTO report

India has doubled its share of global commercial services exports to 4.4% in 2022 from 2% in 2005, according to a World Bank and World Trade Organization (WTO) report.

Newsroom.co.nz

Commerce Commission should probe 'stubbornly' high remittance costs

Global currency tech company Wise is calling on the Commerce Commission to investigate what banks charge for overseas remittances when it conducts its market study into the retail banking sector.

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…

The Independent UK

Pedro Pascal and World Bank's Ajay Banga among those named to Carnegie's 2023 Great Immigrants list

World Bank President Ajay Banga, Oscar winner Ke Huy Quan, singer-songwriter Alanis Morissette and “The Mandalorian” star Pedro Pascal are on this year’s Great Immigrants list from the Carnegie Corporation of New York

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 Guardian - AU

Ticket to freedom: free bus rides for women spark joy for millions in Karnataka

The state government has launched free bus travel for women in an attempt to boost employment, and the change has been heartily welcomed

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