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The Latest Breaking News from World Bank

Combative economist and former president face off in Costa Rica election

Costa Ricans vote on Sunday for a new president in what looks primed to be a close contest between a former leader promising continuity and a pugnacious economist who could pull the country down an anti-establishment path.

Reuters

Central Asian migrants eye Russia exit amid economic pain

Dushanbe (Tajikistan) (AFP) - Weeks after returning from Russia amid sanctions triggered by Moscow's invasion of Ukraine, Emomali Safarov has swapped construction tools for a video camera and his old low-paid journalism job in Tajikistan's capital Dushanbe.

AFP

Afghanistan aid pledges could fall far short of target, officials fear

Taliban’s increasingly repressive rule could lead to donor backlash at UN pledging conference on Thursday

The Guardian - UK

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World Bank approves $400 million for Tunisia to help vulnerable households

The World Bank said on Tuesday it approved $400 million for Tunisia to help about 900,000 vulnerable Tunisian households cope with the health and economic impacts of the COVID-19 crisis.

Reuters

World Bank freezes Afghan projects after Taliban bans girls from high school

The World Bank has put four projects in Afghanistan worth $600 million on hold amid concerns over a decision by the country's ruling Islamist leaders to ban girls from returning to public high schools, the bank said.

Reuters

Food supplies take Ukraine war hit

The war in Ukraine is causing immense, heart-wrenching human suffering. At the World Trade Organization (WTO), an institution based on the rule of law and established to help forge peace, we find the violence abhorrent to our fundamental principles. We echo UN Secretary-General Antonio Guterres's call for the bloodshed to…

Bangkok Post

A.P. intensifies research on groundwater table in Godavari, Krishna regions

World Bank is funding the National Hydrology Project

The Hindu

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As prices soar in crisis-hit Sri Lanka, many forced to moonlight

Low-income workers take on multiple jobs to survive as the economic crisis sees food, fuel and medicine costs surge.

Al Jazeera

Juxtaposition: Opulent resort hosts climate summit in Dubai

The United Arab Emirates is hosting a United Nations-backed climate summit next week

The Independent UK

Iran Ready to Supply Wheat to Lebanon, Lebanese President Cites Iranian FM

Lebanese President Michel Aoun tweeted on Friday that Iranian Foreign Minister Hossein Amirabdollahian assured him after their meeting in Beirut that Iran was ready to support Lebanon in all fields, "most notably in the provision of wheat". Lebanon bought the bulk of its wheat from Ukraine until Russia's invasion, and…

Asharq Al-Awsat

Sri Lanka to seek World Bank support alongside IMF loan programme - sources

Sri Lanka will seek World Bank assistance to stave off a severe economic crisis in addition to an International Monetary Fund (IMF) rescue plan to be discussed next month, two sources said.

Reuters

Ukraine war's spillover swamps poor countries still reeling from Covid-19

Over the past 120 years, a Beirut bakery has survived civil war, Lebanon's financial crisis and the Covid-19 pandemic. Fighting in Ukraine, disrupting food and energy supplies world-wide, may soon put it out of business.

Bangkok Post

'Rhino bond' charges onto markets to save S. African animals

Washington (AFP) - Critically endangered black rhinos in South Africa will get help from an unusual source: Wall Street, where institutional investors have expressed a willingness to buy a new type of bond being issued by the World Bank that will pay for successful efforts to save the animals.

AFP

Russia-Ukraine war is hurting Zimbabwe’s struggling economy

The war’s ripple effects are hitting developing nations like Zimbabwe hard as supplies of fuel, food are disrupted.

Al Jazeera

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Asharq Al-Awsat

Economic Impact of Saudi Geospatial Information Stands at $10.6b Annually

The economic impact of geospatial information according to 7 major sectors in Saudi Arabia is estimated between SAR 22 billion ($5.8 billion) and SAR 40 billion ($10.6 billion) annually. Saudi Arabia’s General Authority for Survey & Geospatial Information, in cooperation with the World Bank, announced the results of a study…

Bangkok Post

Will Putin's war slow China's economic growth?

On March 5, China announced a GDP growth target for this year of about 5.5%, the lowest target since 1991. But that should not come as a surprise. In 2013, World Bank economists and the Chinese State Council projected that China's annual growth rate would decline to 5% by 2030.…

The Hindu

Govt kickstarts USD300 million solid waste management project

World Bank, AIIB to provide assistance

Asharq Al-Awsat

Lebanon Cabinet Approves Electricity Reform Plan

Lebanon's Cabinet on Wednesday approved a plan to reform and restructure the country's crippled electricity sector, a main condition of Western donors and the World Bank to provide financing for regional deals to increase the country's power supply. Al Jadeed TV reported that the Cabinet had endorsed the plan with…

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Asharq Al-Awsat

World Bank: Economic Digitalization in Middle East Can Generate $1.6 Trillion in Gains

The World Bank said the full digitization of the economy in the Middle East and North Africa could raise GDP per capita by at least 46 percent over 30 years, or long-term gains of $1.6 trillion. In a new report entitled, “The Upside of Digital for the Middle East and…

AFP

Food security worsens in Afghanistan as wages fall: World Bank

Washington (AFP) - Food security in Afghanistan has deteriorated sharply since the Taliban took power in August, while wages have fallen "dramatically" for more than two-thirds of workers, a World Bank survey said Tuesday.

Reuters

More Afghans going hungry, fewer jobs available - World Bank

The number of people in Afghanistan who cannot afford food and other essentials has doubled since the Taliban takeover of the country in August 2021 as unemployment rises and wages fall, a World Bank survey showed on Tuesday.

Reuters

World Bank's Malpass warns against hoarding of food or gasoline

World Bank President David Malpass on Monday warned people and businesses against hoarding food and gasoline despite the surge in prices sparked by Russia's invasion of Ukraine and massive sanctions imposed on Moscow.

Reuters

World Bank approves $200 million in additional funding for Ukraine

The World Bank on Monday announced it was making available nearly $200 million in additional and reprogrammed financing to bolster Ukraine’s social services for vulnerable people, on top of $723 million approved last week.

The Guardian - UK

What happens if Russia can’t pay its debts after western sanctions?

World Bank’s chief economist has warned Russia and Belarus are ‘mightily close’ to default

Asharq Al-Awsat

South Africa Most Unequal Country In the World, Says Report

South Africa is the most unequal country in the world, with race playing a determining factor in a society where 10 percent of the population owns more than 80 percent of the wealth, a World Bank report said Wednesday. "South Africa...

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