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The Latest Breaking News from World Bank

Ukraine-Russia latest updates: Moscow slams West for sanctions

Ukraine news from May 26: Moscow presses West to lift sanctions against Russia as it tries to shift food crisis blame.

Al Jazeera

World Bank's IFC still disbursing funds in Ukraine despite war, chief says

The World Bank's investment arm has continued disbursing funds to some private firms in Ukraine despite the war there and is looking to finance efforts to re-orient the country toward "greening" its economy, the head of the unit said on Wednesday.

Reuters

G20 pandemic fund ploughs ahead amid fears world not ready for future threats

A multi-billion dollar fund set up by G20 countries to help developing countries better prepare for pandemics could be operational within months, according to the World Bank.

Reuters

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Cambodia, Laos to benefit as Pfizer slashes drug prices for poorest nations

Pfizer Inc plans to sell its entire portfolio of brand-name drugs at cost in as many as 45 lower-income countries, including Cambodia and Laos, one of the most comprehensive and ambitious drug-access programmes ever announced by a large pharmaceutical manufacturer.

Bangkok Post

Greening the city to prevent mental illness

Trees, grass and greenery lower the risk of mental health problems. It’s a lesson city planners need to learn.

360info

Why Britain really can't afford to cut civil servants right now

A letter leaked to the BBC has revealed that the UK government aims to cut up to 91,000 civil service jobs over the next three years to save money. The letter, sent to civil servants by Simon Case, the cabinet secretary, sets out the aim of reducing staffing levels back…

The Conversation

The Observer view on the growing crisis in Sri Lanka

As western countries retreat from international aid, China is poised to swoop with its ‘belt and road’ programme

The Guardian - UK

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Explained: 'India looks a lot like Sri Lanka'?

NEW DELHI: In one of his several attacks on the Centre over economic situation of the country, Congress leader Rahul Gandhi slammed the government over rising inflation and unemployment.

The Times of India

Ukraine says it gets $530 million in U.S., UK grants from World Bank fund

Ukraine has received roughly $530 million in U.S. and British grants from a fund set up by the World Bank for donations to the Kyiv government in the wake of Russia's invasion, the finance ministry said.

Reuters

Which foods will there be shortages of as UN warns of crisis in famine

The World Bank has increased food funding over the next 15 months to $30billion, as over 45 million people across the world teeter on edge of famine after UN warning

Daily Mirror

Guatemalan congress approves $500 million loan from World Bank

Guatemala's congress approved on Wednesday a $500 million loan from the World Bank that the government has said will be used to pay down debt, freeing up funds for social spending.

Reuters

Japan to double fiscal support for Ukraine to $600 million, PM says

Japan will double fiscal aid for Ukraine to $600 million in a coordinated move with the World Bank to back the country's near-term fiscal necessities damaged by Russia's invasion, Prime Minister Fumio Kishida told reporters on Thursday.

Reuters

Ukraine war has stoked global food crisis that could last years, says UN

Shortages of grain and fertiliser could cause ‘mass hunger and famine, says chief, as World Bank pledges $12bn to ease shortfall

The Guardian - AU

Russia-Ukraine war: what we know on day 85 of the invasion

Russia says 1,730 fighters at Azovstal plant have surrendered since Monday; ‘culture of cover-ups’ in Russian military, says UK’s MoD

The Guardian - UK

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Bangkok Post

Can we still unite to do big things?

When US Secretary of the Treasury Henry Morgenthau opened the Bretton Woods Conference almost 80 years ago, he reminded delegates that failures of international cooperation had led to the Great Depression, social division and ultimately war. "Prosperity, like peace, is indivisible," he concluded, "we cannot afford to have it scattered…

The Guardian - UK

World Bank pledges $12bn to support low-income countries hit by shortages

Move follows warning from head of UN World Food Programme about high prices leading to social unrest

Reuters

World Bank to offer $30 billion as Ukraine war threatens food security

The World Bank said on Wednesday it will make $30 billion available to help stem a food security crisis threatened by Russia's war in Ukraine, which has cut off most grain exports from the two countries.

The Independent UK

US, banks unveil plan to ease food crisis from Russia's war

Ahead of the G7 finance ministers’ meetings, the U.S. Treasury, several global development banks and other groups have unveiled a multi-billion dollar plan meant to address a worldwide food security crisis exacerbated by Russia’s war in Ukraine

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The Hindu

Export only surplus cotton: Piyush Goyal

Minister holds talks with stakeholders to soften rising prices of the commodity

Reuters

More pain in Sri Lanka before any resolution to crisis

Sri Lanka's central bank has secured foreign exchange to pay for fuel and cooking gas shipments that will ease crippling shortages, its governor said on Thursday, as the prime minister said supplies had been locked in for at least a month.

Reuters

When Africans asked for COVID shots, they didn't get them. Now they don't want them

It's noisy inside the Mamprobi clinic in Accra as kids clamber over their mothers while they wait to get their measles vaccines. Outside, an area reserved for COVID-19 shots is empty. A health worker leans back in his chair and scrolls on a tablet.

Al Jazeera

Ethiopia to get $300m World Bank grant for reconstruction

Fighting in the northern region of Tigray has eased since a unilateral ceasefire was declared by the federal government.

Reuters

Ethiopia, World Bank sign $300 million grant agreement for reconstruction

Ethiopia and the World Bank have signed an agreement for a $300 million grant to help with reconstruction and recovery in conflict-hit areas, the finance ministry said.

Al Jazeera

Inflation rises in Nigeria amid fuel scarcity and insecurity

The hike in inflation means purchasing power of Nigerians, some of whom live on $50 monthly minimum wage, is declining.

The Independent UK

Yellen meets war refugees in Poland, pushes food crisis plan

U.S. Treasury Secretary Janet Yellen has met with Ukrainian refugees and urged the need to confront Russian brutality as she visited Poland ahead of a meeting of finance ministers for the Group of Seven leading economies

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