The Latest Breaking News from World Bank

Report says 2.3 billion people globally use polluting fuel to cook; 675 million have no electricity

A report by five international organizations says up to 2.3 billion people around the world are still using polluting fuels to cook, and 675 million don’t have electricity

The Independent UK · Jun 6, 2023

New Lowy South-East Asia Aid Map finds China overtaken as largest provider of development money in region

New research finds China has surrendered its position as the largest single provider of development finance in South-East Asia in the wake of the COVID-19 pandemic.

ABC News · Jun 4, 2023

World Bank's new chief asks staff to 'double down' on development, climate efforts

The World Bank's new president Ajay Banga on Friday asked the lender's 16,000 staff to "double down" on development and climate efforts as he seeks to accelerate the bank's evolution to tackle the most pressing global problems.

Reuters · Jun 2, 2023

Ghana and the IMF have struck a deal, but hard choices lie ahead

In mid-May 2023 the International Monetary Fund (IMF) finally approved a US$3 billion 36-month arrangement with Ghana. It immediately disbursed the first tranche of US$600 million.

The Conversation · May 30, 2023

World Bank approves $1 billion loan to Kenya

The World Bank said on Tuesday it approved a $1 billion loan to Kenya to support its budget as East Africa's economic powerhouse confronts high debts and a weakening currency.

Reuters · May 30, 2023

Arkhom coy on diesel excise tax cut

Finance Minister Arkhom Termpittayapaisith has refused to take a stance on whether the diesel excise tax cut needs to be extended, saying it depends on global oil prices.

Bangkok Post · May 29, 2023

Thailand must raise revenue to boost spending: World Bank

Thailand must bolster its revenue collection in the long term to meet growing public spending needs stemming from an ageing population, according to the World Bank.

Bangkok Post · May 29, 2023

Thai economy resilient, on path to full recovery: Arkhom

Thailand's economy is on a solid path to recovery and showing resiliency, helped by good revenue collection and a normalisation of its tourism sector, while inflation should come in below 3% this year, the finance minister said on Monday.

Bangkok Post · May 29, 2023

World Bank approves $300 million financing to help poor people in Lebanon

The World Bank has approved a $300 million additional financing to Lebanon's poor, giving cash to families struggling in the country’s historic economic meltdown

The Independent UK · May 26, 2023

Trying to keep small islands afloat

It is too early to tell whether all the talk about reforming development finance at this year's International Monetary Fund and World Bank Spring Meetings will translate into meaningful policy action for the Global South. But multilateral financial institutions increasingly recognise the need to evolve to remain relevant in light…

Bangkok Post · May 25, 2023