The Latest Breaking News from World Bank

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…

Asharq Al-Awsat · Mar 16, 2022

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…

Asharq Al-Awsat · Mar 16, 2022

World Bank has total portfolio of about Rs 3,160 crore in state: Himachal Pradesh CM

SHIMLA: The cooperation between the State of Himachal Pradesh and World Bank has been increasing by leaps and bounds since last few years as today World Bank has total portfolio of close to Rs 3160 crores. This was stated by the Chief Minister Jai Ram Thakur while interacting with the…

The Times of India · Mar 15, 2022

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

The Guardian - UK · Mar 11, 2022

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...

Asharq Al-Awsat · Mar 10, 2022

Ukraine war-related inflation may drive protests and riots, World Bank warns

Soaring energy and food prices triggered by Russia's invasion of Ukraine could exacerbate existing food security concerns in the Middle East and Africa, and may fuel growing social unrest, World Bank chief economist Carmen Reinhart said.

Reuters · Mar 10, 2022

Lebanon Central Bank Seeks Names of Those Who Failed to Repatriate Funds amid Crisis

Lebanon's central bank has asked commercial banks to provide the names of political figures who failed to comply with a circular ordering them to repatriate funds sent abroad in the lead-up to the country's 2019 financial meltdown. Lebanon's financial crisis, which the World Bank has labeled one of the deepest…

Asharq Al-Awsat · Mar 9, 2022

Explainer-Ousting Russia from WTO, IMF would mark end of an era

Amid the devastation of World War Two, the United States and its allies created the institutions that have governed the post-war global economic order, focused on rebuilding Europe, fighting poverty and bringing rivals together to work out trade disputes peacefully.

Reuters · Mar 9, 2022

Bahraini Women: From Empowerment to Progress

Bahraini women are making remarkable progress on the national level, according to recent reports by several international institutions, such as the United Nations Women, the World Bank, and the World Economic Forum (WEF). Bahrain's Supreme Council for Women (SCW) is a body concerned with Bahraini women's affairs, aiming to empower…

Asharq Al-Awsat · Mar 8, 2022

World Bank approves $723 million in loans, grants for Ukraine

The World Bank said its executive board on Monday approved a $723 million package of loans and grants for Ukraine, providing desperately needed government budget support as the country battles a Russian invasion.

Reuters · Mar 8, 2022