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The Latest Breaking News from World Bank

World Bank Approves $500 Mln to Expand Social Security in Egypt

The World Bank's executive board has approved $500 million in development financing for Egypt to expand its social safety net and protection program in the face of global economic pressures filtering through to the country's economy, the international cooperation minister said on Friday. The funds will support the government's Takaful…

Asharq Al-Awsat

World Bank approves $500 million to expand social security in Egypt - ministry

The World Bank's executive board has approved $500 million in development financing for Egypt to expand its social safety net and protection programme in the face of global economic pressures filtering through to the country's economy, the international cooperation minister said on Friday.

Reuters

World Bank to lend $500 million to help Brazil meet climate goals

The World Bank´s board of directors approved late on Thursday a $500 million project in Brazil to expand sustainability-linked finance and strengthen the private sector’s capacity to access carbon credit markets and help the country curb deforestation.

Reuters

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Lebanon PM Says Sweeping Reforms Still Needed despite Return to Growth

Lebanon's caretaker Prime Minister Najib Mikati said Thursday that sweeping reforms remain vital to rescue the stricken economy, despite a return to modest growth this year. Mikati said the economy had grown by nearly two percent in 2022 after two straight years of severe recession that saw Gross Domestic Product…

Asharq Al-Awsat

World Bank Cuts China Growth Forecasts on Property Slump, Reopening Complications

Real GDP growth is expected to slow to 2.7% this year, before rebounding to 4.3% in 2023

Caixin Global

COVID-19 case numbers are exploding in China. Here's how the surge could impact the global economy

COVID-19 cases have surged in China since stringent restrictions were lifted and there are concerns about the economic ramifications this could bring.

ABC News

World Bank approves additional $610 million in financing for Ukraine

The World Bank on Tuesday said it had approved an additional financing package totaling $610 million to address urgent relief and recovery needs in Ukraine as the war with Russia continues.

Reuters

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World Bank cuts China growth outlook on COVID, property woes

The World Bank has cut its China growth outlook for this year and next, citing the impact of the abrupt loosening of strict COVID-19 containment measures and persistent property sector weakness.

Reuters

World Bank approves $1.69 billion for Pakistan flood relief projects

The World Bank has approved financing of $1.69 billion for flood relief projects in Pakistan, it said in a statement on Monday.

Reuters

World Bank Launches $2 bn Ukraine Private Sector Aid Package

The World Bank on Thursday announced a $2 billion package to support Ukraine's private sector, in a bid to help pave the way for reconstruction amid the devastation resulting from Russia's invasion. The latest package by the International Finance Corporation (IFC), the bank's development arm focused on private-sector development in…

Asharq Al-Awsat

EU denounces Russia's 'indiscriminate terror' in Ukraine after fresh missile attacks

The European Union's foreign policy chief Josep Borrell on Friday condemned the "indiscriminate terror" that Russia's latest missile attacks were inflicting on Ukraine. Read FRANCE 24's liveblog below to see how the day's events unfolded. All times are Paris time (GMT+1).

France 24

World Bank's private arm launches $2 billion program to help Ukrainian businesses

The World Bank's private investment arm on Thursday said it had launched a $2 billion support package for Ukraine to help build the resilience of the Ukrainian private sector devastated by Russia's war and to prepare for reconstruction.

Reuters

World Bank eyes slower Thai growth

The Thai economy is projected to recover faster than expected this year, but will face slower growth in 2023 because of global headwinds, according to the World Bank.

Bangkok Post

World Bank: Iraq Must Pursue Greener Growth Model

Iraq, a top oil exporter battered by climate change impact, must diversify its economy and pursue a “greener growth model,” the World Bank said Tuesday. In a new report presented to authorities in Baghdad, the Washington-based institution said $233 billion must be invested by 2040 to allow Iraq to embark…

Asharq Al-Awsat

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Bangkok Post

Economy can withstand global risks, says finance minister

The Thai economy is still on the recovery path and should grow 3.4% in 2022 and 3.8% next year, supported by a rebound in the vital tourism sector, Finance Minister Arkhom Termpittayapaisith said on Wednesday.

Bangkok Post

Thailand aims high for 2037

The government has approved a blueprint for higher education development as part of efforts to steer Thailand to become a developed country by 2037.

Bangkok Post

Investing in nature pays dividends

The mega-challenges engulfing the world today -- from Covid-19 to climate change -- have highlighted the interdependencies between people, planet, and the economy. As we chart a course to reignite global growth and drive green, resilient, and inclusive development, we must not ignore these interlinkages. Nature -- meaning biodiversity and…

France 24

Paris conference to put Ukrainian civil society at 'heart of humanitarian response'

Paris is hosting a bilateral conference to help Ukraine resist and rebuild after the war with Russia. The objective: to identify the immediate needs of Ukrainians and how to meet them, and to help them recover from the conflict once it is over. The meeting comes as winter sets in…

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Reuters

G7 says it is setting up multi-agency platform to coordinate aid to Ukraine

Group of Seven rich nations on Monday said they would set up a multi-agency platform to coordinate aid to Ukraine and support its repair, recovery and reconstruction, with senior representatives to convene as soon as possible in January.

The Independent UK

Helping Ukraine is 'self-preservation,' finance chief says

Ukraine's finance minister says crucial Western financial aid is “not charity” but “self-preservation" as donor countries share the price of turning back Russian aggression

Bangkok Post

Economists upbeat on 2023

Thailand's economic outlook remains positive for next year despite global headwinds, according to economists.

The Independent UK

Fired state TV chief's World Bank job shocks many in Poland

The former head of Poland’s state broadcaster says he now has a job the World Bank

The Times of India

Need action on terror, eco fugitives: India

UDAIPUR: India has made a pitch for a strong response from G20 nations to counter the menace of terrorism and narcotics, while also laying out a strong anti-corruption agenda that focuses on the deliverables on combating financial crimes and addresses the issue of fugitive economic offenders.

The Guardian - UK

World’s poorest countries’ debt interest payments rise 35%, report says

Report’s author, the World Bank, states concern over poor countries’ increasing spending on debt

The Times of India

Explained: Why World Bank upgraded India's economic forecast for FY23

NEW DELHI: The World Bank on Tuesday revised upwards its GDP growth forecast from 6.5% for India to 6.9% for 2022-23, saying the country was showing higher resilience to global shocks.

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