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The Latest Breaking News from World Bank

Lebanon Approves $150 Million World Bank Wheat Loan

Lebanon's parliament approved on Tuesday a $150 million World Bank loan to import wheat, as shortages of subsidized bread intensify in the cash-strapped country, local media reported. Long lines have formed in front of bakeries and supermarkets where people wait hours for a bag of subsidized Arabic bread -- in…

Asharq Al-Awsat

Lebanon's Parliament votes to spend World Bank loan on wheat

Lebanese lawmakers have voted to use a $150 million World Bank loan to import wheat for its cash-strapped country

The Independent UK

Exclusive: U.S. and Taliban make progress on Afghan reserves, but big gaps remain

U.S. and Taliban officials have exchanged proposals for the release of billions of dollars from Afghan central bank reserves held abroad into a trust fund, three sources familiar with the talks said, offering a hint of progress in efforts to ease Afghanistan's economic crisis.

Reuters

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World Bank picks Pune Municipal Corporation for pilot on food supply chain

PUNE: The Work Bank has selected the Pune Municipal Corporation (PMC) for a pilot project to improve urban food supply chain, wherein the civic body would get Rs 9 crore for standardizing weekly markets and modernizing a slaughterhouse.

The Times of India

Haunted by his father's role in Vietnam, he turned to farming to grow a new legacy

WINTERS, Calif. — Craig McNamara had come prepared to talk about heavy things.

Los Angeles Times

Senegalese island keeps coastal erosion at bay with stakes in the sand

Simple wooden structures padded with coconut tree fronds are helping residents of Diogue island in southern Senegal to win back stretches of sandy beach from the Atlantic swells that threaten much of the West African coast.

Reuters

Mideast nations wake up to damage from climate change

The Middle East is one of the most vulnerable regions in the world to the impact of climate change — and already the effects are being seen

The Independent UK

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The UN wants to educate children – it will succeed only if it feeds them first

Millions have missed out on education during the pandemic, and school meals programmes are another Covid casualty

The Guardian - UK

Pandemic action must be global

At their meeting in Bali on July 15-16, G20 finance ministers reaffirmed their commitment to coordinated action to get the Covid-19 pandemic under control and better prepare for the next global health emergency.

Bangkok Post

Sri Lanka's crisis: Can the South Asian economy break from the past and find a route to stability?

Sri Lanka has a new president and prime minister – but a change in who leads the crisis-hit South Asian nation alone will not solve the country’s severe economic problems.

The Conversation

Mixed reactions as Nigeria’s state oil firm goes private

For years, the oil firm has been plagued with financial transparency issues. Analysts say going commercial could fix it.

Al Jazeera

Africa's top public health body gets $100 million from World Bank

Africa's main public health body, the Africa Centres for Disease Control and Prevention (Africa CDC), will receive $100 million from the World Bank to help African countries prepare for, detect and respond to disease outbreaks.

Reuters

World Bank to Fund $100 Million in Food Insecurity Aid to Sudan Through WFP

The World Bank has agreed to provide the UN's World Food Program with $100 million for an “emergency safety net project” to address food insecurity in Sudan, it said in a statement on Thursday. The program, whose funding comes from the European Union, United Kingdom, and several other nations, aims…

Asharq Al-Awsat

World Bank to fund $100 million in food insecurity aid to Sudan through WFP

The World Bank has agreed to provide the U.N.'s World Food Programme with $100 million for an “emergency safety net project” to address food insecurity in Sudan, it said in a statement on Thursday.

Reuters

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The Guardian - UK

Revealed: oil sector’s ‘staggering’ $3bn-a-day profits for last 50 years

Vast sums provide power to ‘buy every politician’ and delay action on climate crisis, says expert

The Independent UK

Myanmar's economy fragile as fighting, inflation hit poor

Reports by the World Bank and other experts say army-ruled Myanmar's economy remains fragile as civil strife, inflation and onerous policy decisions add to troubles facing farmers and businesses

The Conversation

7 ways to reduce the learning loss caused by the pandemic

School closures and the shift to online learning due to the COVID-19 pandemic have resulted in learning loss in developed and developing countries. Learning loss is generally defined as any specific or general loss of knowledge and skills or reversals in academic progress when students are not in school.

Bangkok Post

World Bank urges more direct aid

Fabrizio Zarcone, the newly appointed World Bank country manager for Thailand, recommends three fiscal measures to help protect Thai households from shocks, build social cohesion and resilience while creating space for public investment.

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The Hindu

Sharing power with the next generations

A new idea of ‘inter-generational justice’ is gaining traction as a better way of producing a more equitable global order

The Guardian - UK

David Evans obituary

Other lives: Development economist who worked on the inequality and poverty impacts of trade liberalisation

Asharq Al-Awsat

Iraq's Date Palms: Rescuing a National Icon

Thousands of young date palms, Iraq's national symbol, form lines that extend from the edge of the desert near the central city of Karbala and into the horizon. Iraq's prized trees are central to a push aimed to preserve a long-threatened ancestral culture, whose fruit historically presented prosperity across the…

The Conversation

Young people in the Middle East struggle to see a promising future

The Middle East’s population is growing almost twice as fast as the world overall, and one-third of its people are under the age of 15.

The Conversation

Kenya's election promises: an economist's perspective

Kenya has four presidential candidates in the August 2022 general election. They recently launched their manifestos and one thing ties them together: the economy.

Reuters

World Bank chafes at lower capital requirements recommended in G20 report - sources

The World Bank is seeking to block release of a report prepared for the Group of 20 major economies that calls for lowering the bank's capital requirements to boost its lending capacity, four sources familiar with the matter said.

The Conversation

How BRICS' New Development Bank can improve transparency and accountability

The New Development Bank, which was formed in July 2014, marks its eighth birthday this year. It was formed by the leaders of Brazil, Russia, India, China and South Africa (BRICS) when they met in Fortaleza, Brazil for the bloc’s summit. The bank was seen as a potential alternative to…

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