The Latest Breaking News from World Bank

Understanding the Indus Waters Treaty

What is the river water-sharing treaty between India and Pakistan and why are delegations from both countries set to meet in March? 

The Hindu · Feb 25, 2022

World Bank preparing ways to support Ukraine as fallout assessed

The World Bank said on Thursday it was preparing options to provide immediate support to Ukraine's government, as the development lender and the International Monetary Fund assess the economic fallout from the conflict in Ukraine.

Reuters · Feb 24, 2022

South Africa and international financial institutions: a liaison group could recalibrate relations

Since the onset of the COVID pandemic in 2020, South Africa has borrowed a total of about US$7 billion (about R106 billion). The money has come from the International Monetary Fund, the New Development Bank, the African Development Bank, and the World Bank.

The Conversation · Feb 24, 2022

Lebanon's 'Zombie Banks' Downsize to Weather Crisis

Once the economy's crown jewel, Lebanon's banks are shutting branches and laying off employees in droves, resizing to the bleak reality of a crisis they are widely blamed for. Before the onset in 2019 of a financial collapse deemed one of the world's worst since the 1850s by the World…

Asharq Al-Awsat · Feb 20, 2022

Ghana's debt makes development impossible: here are some solutions

By the year 2000, the government of Ghana had borrowed so much that the country was in debt distress. It then subscribed to the Heavily Indebted Poor Countries initiative of the International Monetary Fund and World Bank. Consequently, much of the country’s external debt of over US$4 billion was written…

The Conversation · Feb 20, 2022

World Bank readies $350 million Ukraine disbursement, pledges more support

The World Bank Group on Saturday said it is readying a $350 million disbursement to Ukraine that the group's board will consider by the end of March as part of a plan for short- and long-term financing for the country.

Reuters · Feb 19, 2022

Exclusive-World Bank proposal would shift about $1 billion from Afghan trust

The World Bank's management has approved a plan to use some $1 billion in a frozen Afghanistan trust fund for education, agriculture, health and family programs, according to a bank paper and two sources, in what would be a major boost to efforts to ease the country's worsening humanitarian and…

Reuters · Feb 18, 2022

Uganda needs a mind shift to address poor growth and persistent inequality

Uganda aspires to become an upper-middle-income country by 2040. This is classified by the World Bank as a country with Gross National Income per capita income above $4,096. That’s far and above Uganda’s latest figure of under $1,000.

The Conversation · Feb 18, 2022

Tunisia Says World Bank to Lend it $400 Mln

The World Bank will lend Tunisia about $400 million to finance social reforms, the Tunisian government said on Tuesday, as it started talks with the International Monetary Fund on economic reforms. The country, which is suffering from a financial crisis, is seeking to obtain a rescue package from the IMF…

Asharq Al-Awsat · Feb 17, 2022

Tunisian President Will Launch a Committee to Audit Loans and Grants

Tunisian president Kais Saied said on Tuesday he will launch a committee to audit all the loans and grants that Tunisia has obtained in the past years, accusing former officials of corruption and looting of funds. "Where did the money go? The people's money should go back to the people,"…

Asharq Al-Awsat · Feb 15, 2022