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The Latest Breaking News from World Bank

World Bank, AIIB to help Alappuzha manage solid waste

Institutions to extend ₹30-crore aid to municipality

The Hindu

Drought Tightens Its Grip on Morocco

Mohamed gave up farming because of successive droughts that have hit his previously fertile but isolated village in Morocco and because he just couldn't bear it any longer. "To see villagers rush to public fountains in the morning or to a neighbor to get water makes you want to cry,"…

Asharq Al-Awsat

Water supply of Hubballi-Dharwad is not being privatised, clarify Karnataka officials

Officials of Karnataka Urban Water supply Modernisation Project (KUWSMP) said that the entire water supply infrastructure would be handed over back to the Hubballi-Dharwad Municipal Corporation after the contract period

The Hindu

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NZ exports to Russia plummet 90% after sanctions

Vladimir Putin's war in Ukraine comes at a cost of an 11% contraction to his nation's economy, as sanctions bite.

Newsroom.co.nz

China-US tensions: how global trade began splitting into two blocs

Speaker Nancy Pelosi’s visit to Taiwan has elicited a strong response from China: three days of simulated attack on Taiwan with further drills announced, plus a withdrawal from critical ongoing conversations with the US on climate change and the military.

The Conversation

US announces fresh military and financial aid for Ukraine

Russia suffered 70,000 to 80,000 casualties – troops killed or wounded in action – since war began, US official says.

Al Jazeera

World Bank says mobilizing $4.5 billion U.S. grant for Ukraine

The World Bank on Monday said it was mobilizing a $4.5 billion grant for Ukraine provided by the United States that will help Kyiv meet urgent needs created by Russia's invasion, including healthcare, pensions and social payments.

Reuters

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Exclusive-U.S. to send $4.5 billion more to Ukraine for budget needs

The United States will provide an additional $4.5 billion to Ukraine's government, bringing its total budgetary support since Russia's February invasion to $8.5 billion, the U.S. Agency for International Development said on Monday.

Reuters

Egypt, World Bank Discuss Activating Food Security Agreement

Cairo is discussing with the World Bank a $500 million development funding deal, which is meant to boost Egypt’s efforts to help achieve food security and to strengthen the Egyptian economy to confront the repercussions of the Russia-Ukraine war. Minister of International Cooperation Rania Al-Mashat and Minister of Supply Ali…

Asharq Al-Awsat

Sri Lanka syndrome: Is Bangladesh out of danger?

With global inflation rising and the fear of fuel and food crises looming large, clouds are gathering on the economic horizon of South Asian countries. Sri Lanka in particular remains mired in a crisis driven by a mix of high indebtedness, soaring inflation and poor economic management.

Bangkok Post

‘Captain Condom’ turned the tide in war on Aids, overpopulation

Mechai Viravaidya twice saw Thailand in desperate trouble — first from a ruinous population explosion and then from the Aids epidemic — and he responded to both crises the same way: with condoms and his own considerable charisma.

Bangkok Post

Nobody Wants the Current World Order

How All the Major Powers—Even the United States—Became Revisionists

Foreign Affairs

How to prevent developing country debt crises

Since the Latin American debt crisis of the 1980s, sovereign-debt crises have become a regular occurrence for emerging and developing economies. Today, Sri Lanka needs a bailout from the International Monetary Fund (IMF) after defaulting on its foreign debt in May, and a growing number of low-income countries are facing…

Bangkok Post

World Bank Accuses Lebanese Politicians of Cruelty over Deposit Promises

The World Bank accused Lebanese politicians of being cruel by asserting that deposits in the country's collapsed banking sector are sacred, saying such slogans "flagrantly contradict the reality" in a report on Wednesday. Lebanon is in the third year of a financial meltdown that has left eight in ten people…

Asharq Al-Awsat

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Reuters

World Bank accuses Lebanese politicians of cruelty over deposit promises

Reuters

Bangladesh seeking $2 Billion from World Bank, ADB - Bloomberg News

Bangladesh is seeking $2 billion from the World Bank and the Asian Development Bank (ADB) amid efforts to bolster its foreign exchange reserves, Bloomberg News reported on Wednesday.

The Times of India

West Bengal: Microcredit route for macro empowerment of the poorest

KOLKATA: In 2001, Chandra Shekhar Ghosh started Bandhan-Konnagar with the objective of empowering the underprivileged and creating new employment opportunities. He concerned himself with figuring out ways to provide support to people to increase their per capita income. The answer was microcredit. While the venture was a success, Ghosh realised…

France 24

First shipment of Ukrainian grain reaches Turkish waters

The first shipment of Ukrainian grain since Russia’s invasion reached Turkish territorial waters on Tuesday near the entrance to the Bosphorus Strait. The number of border crossings from Ukraine has surpassed 10 million, the UN Refugee Agency reported. Read about the day's events as they unfolded on our liveblog. All…

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The Guardian - UK

Food prices soaring in developing world amid Ukraine crisis, World Bank finds

Lebanon is worst-hit by food inflation after food grain store explosion in Beirut in 2020

Asharq Al-Awsat

Lebanese Face Long 'Insulting' Queues to Buy Bread

In bankrupt Lebanon, Khalil Mansour has to queue for hours every day just to buy bread for his family and some days he can't afford any. In a country which once boasted the nickname "Switzerland of the Middle East" for its thriving banking sector before financial crisis hit in 2019,…

Bangkok Post

World Bank refuses new funding for Sri Lanka

COLOMBO: The World Bank has told Sri Lanka it will not offer new funding unless the bankrupt country carries out “deep structural reforms” to stabilise its crashing economy.

Foreign Policy

The International Monetary Fund: Holy Grail or Poisoned Chalice?

As the global south struggles to grapple with its debt pandemic, experts question the efficacy of the IMF’s conditional lending.

Reuters

World Bank says no new plans for financing for Sri Lanka

The World Bank does not plan to offer new financing to Sri Lanka until an adequate macroeconomic policy framework is in place, it said in a statement on Thursday.

The Independent UK

Minister: Lebanon to build new silos to ease wheat crisis

Cash-strapped Lebanon plans to build two new grain silos to fight its food security crisis for millions living in poverty

Asharq Al-Awsat

Morocco, World Bank Sign Agreement to Strengthen Human Capital

The World Bank approved last week $500 million to help strengthen human capital and resilience in Morocco. Minister Delegate in charge of the Budget Fouzi Lekjaa and World Bank Director of Operations for the Maghreb and Malta Jesko Hentschel signed the agreement on Monday, which represents the first tranche of…

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