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The Latest Breaking News from World Bank

World Bank CEO Denies IFC Cover-Up of Kenya School Abuse

World Bank denies covering up abuse involving a Kenya school investment, refuting allegations of an IFC cover-up. Details on the controversy at hand.

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Kerala Budget 2024-25 | Outlay for farm sector goes up to ₹1,698.30 cr.; World Bank-aided KERA to be launched next fiscal

The State government allocates ₹1,698.30 crore for agriculture, launching the KERA project to enhance climate-resilient commercialization and exports.

The Hindu

World Bank Provides Emergency Funds to Countries through Existing Loans

Learn about the World Bank's new initiative to alleviate the financial burden of countries during disasters by offering access to emergency funds from exis...

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3 China Stocks to Buy for Smart Investors in 2024

Even though trade data and the recovery remain uneven, the Chinese economy exceeded the government’s set target of 5% for 2023. Moreover, several experts remain upbeat about the nation’s economic outlook for 2024 and beyond. Thus, quality China stocks Sohu.com (SOHU), Youdao (DAO), and Autohome (ATHM) could be smart investments…

StockNews.com

For thousands of families in Tamil Nadu, the promise of home belied

Tamil Nadu executed three World Bank-funded projects, mainly in Chennai, between 1977 and 1988, through which plots were sold to those residing in slums on a hire-purchase basis. The beneficiaries were to pay a monthly instalment for about 10 years to get ownership of the land. Four decades later, around 85,000…

The Hindu

State govt. to implement Tamil Nadu Coastal Restoration Mission at a cost of ₹1,675 crore over five years

Tamil Nadu Coastal Restoration Mission aims to strengthen coastal biodiversity, sustainable tourism, and reduce plastic waste with World Bank support.

The Hindu

Cabinet nod for World Bank-aided $285-million KERA project

The Cabinet on Wednesday cleared the Kerala Climate Resilient Agri-Value Chain Modernisation (KERA) Project aimed at modernising the State’s food and nutritional security. The World Bank-aided project has an outlay of $285 million. It places emphasis on the increased participation of small farmers and micro, small and medium enterprises (MSME)…

The Hindu

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2024 Global Growth forecast: Slowing Trend Continues

The World Bank predicts global growth to decelerate for the third year in a row in 2024, signaling potential challenges ahead. Stay informed!

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Global economy will slow for a third straight year in 2024, World Bank predicts

Hobbled by high interest rates, persistent inflation, slumping trade and a diminished China, the global economy will slow for a third consecutive year in 2024

The Independent UK

Risk of financial ‘wasted decade’ for poor countries, World Bank warns

Global economy set to slow for third year in 2024, with poor countries especially hard hit, body says

The Guardian - UK

China's capitalist reforms are said to have moved 800 million out of extreme poverty – new data suggests the opposite

It has become an article of faith among many economists that China’s pro-market reforms of the 1980s and 1990s ushered in a sustained reduction in poverty.

The Conversation

Private Sector Funding Key To Climate Transition, World Bank Chief Says

The World Bank is working to slash how long it takes to get financing projects off the ground as part of a push to speed up and scale up the 79-year-old development lender, its president told AFP on Wednesday.

International Business Times

Muhammad Yunus: Bangladesh's 'Banker To The Poor'

Jailed Nobel-winning microfinance pioneer Muhammad Yunus is celebrated around the world for helping millions of people out of poverty, but at home in Bangladesh he has a powerful enemy.

International Business Times

Moldova's Pro-EU President To Seek Second Term

Moldovan President Maia Sandu on Sunday said she would seek a second term next year as she looks to steer the former Soviet republic to EU membership.

International Business Times

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World Bank injects 0 million to fuel Pakistan's economic growth

World Bank's financial boost of 0 million to Pakistan's RISE-II operation heralds new opportunities and economic growth, fueling optimism for the nation...

The Independent UK

Somalia secures $4.5 billion debt relief deal with international creditors

Somalia has secured a $4.5 billion debt relief deal from its international creditors,

Top News

World Bank Economist Forecasts Long-lasting High Interest Rates

Amid a whirling dervish of economic uncertainties, a World Bank economist paints a vivid portrait of sustained high interest rates. Buckle up for a long ride.

The Independent UK

Myanmar's economy is deteriorating as its civil conflict intensifies, World Bank report says

The World Bank says Myanmar’s economy is forecast to grow only 1% in the fiscal year that ends in March

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Al Jazeera

For Myanmar’s generals, energy crisis threatens shaky grip on power

Min Aung Hlaing’s administration is facing energy shortages as it struggles to quell opposition to its rule.

International Business Times UK

World Bank Faces Accusations of 'Turning Blind Eye' to Sexual Abuse in Kenyan Schools

The World Bank's failure to act on early warnings and reports of sexual abuse has perpetuated a culture of impunity.

The Conversation

Don't applaud the climate summit's loss and damage fund deal just yet – it might not warrant that standing ovation

Shortly after the opening ceremony of the 2023 United Nations climate negotiations in Dubai, delegates of nations around the world rose in a standing ovation to celebrate a long-awaited agreement to launch a loss and damage fund to help vulnerable countries recover from climate-related disasters.

The Guardian - UK

World Bank accused of ‘turning blind eye’ to sexual abuse in Kenyan schools it funded

Calls grow for independent inquiry after the bank’s internal watchdog found 21 cases of child sexual abuse by teaching staff

The Hindu

World Bank recalls paper on decline in toilet usage in India

The paper titled “Progress on Sanitation in Rural India: Reconciling Diverse Evidence”, was published in September this year.

International Business Times

World Bank To Operate 'Loss And Damage' Climate Fund

The World Bank will "operate" an ambitious new climate change fund, but donors and recipients will likely control how the money is actually spent, the head of the development lender said Friday.

The Conversation

COP28 climate summit just approved a 'loss and damage' fund. What does this mean?

Day one of the COP28 climate summit saw the first big breakthrough: agreement on a “loss and damage” fund to compensate poor states for the effects of climate change.

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