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The Latest Breaking News from World Bank

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.

International Business Times

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.

The Conversation

Who’s who at Cop28: the leaders with the world’s future in their hands

From fossil fuel chiefs to an outspoken UN secretary general, a look at who will attend the UAE’s climate summit

The Guardian - UK

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Africa's young leaders demand financial aid to combat extreme weather events

Young people in Africa have called on developed countries to double the funding for climate change adaptation in Africa.

Radio France Internationale

Malnutrition in Pakistan: Over 40% of children under five suffer from stunted growth

According to a recent World Bank report, more than 40 percent of children under the age of five in Pakistan suffer from stunted growth. The situation is especially worrying for some villages in Sindh province, where 66 percent of under-fives are affected. Stunting is closely linked to brain development and…

France 24

Cop28 host UAE breaking its own ban on routine gas flaring, data shows

Exclusive: Fields run by climate summit host have burned gas near daily despite 20-year-old pledge, satellite monitoring reveals

The Guardian - UK

West Africa’s plastic waste could be fuelling the economy instead of polluting the ocean: experts

Plastic pollution is an urgent environmental issue, globally. Every year, about eight million tonnes of plastic end up in the oceans.

The Conversation

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Projects funded by the World Bank Group's private sector arm fuel violent conflict – it's time to reform the system

To what extent does private investment help developing countries to reduce conflict and violence and to achieve the Sustainable Development Goals?

The Conversation

Chief Secretary-led high-level steering committee formed for World Bank-aided KERA project in agriculture sector

The Hindu

World Bank suspension of Uganda funds over anti-homosexuality law: what this says about the struggle over funds and sovereignty

The World Bank issued a statement on 8 August 2023, announcing that it had effectively suspended all new public financing to Uganda over concerns with the country’s anti-homosexuality law, which “fundamentally contradicts the World Bank Group’s values”.

The Conversation

Stage set for conflict at COP28 with mixed response to outcome of key climate talks

Tense negotiations at the final meeting on a climate-related loss and damages fund — an international fund to help poor countries hit hard by a warming planet — ended Saturday in Abu Dhabi, with participants agreeing that the World Bank would temporarily oversee the fund for the next four years

The Independent UK

Climate crisis talks resume on ‘loss and damage’ funding for poorest countries

World leaders will reconvene in Abu Dhabi before UAE’s Cop28 after talks broke down two weeks ago

The Guardian - UK

What Revolut’s attempt to secure a UK banking licence could mean for its current customers and for the 'unbanked'

Last year, the CEO of financial technology (fintech) company Revolut added a UK banking license to his 2022 Christmas wish list, telling startup news outlet Sifted: “I would love to have it as a Christmas present. A present for me personally and for the business.”

The Conversation

Oil prices could reach 'uncharted waters' if the Israel-Hamas war escalates, the World Bank says

The World Bank says oil prices could be pushed into “uncharted waters” if the violence between Israel and Hamas intensifies

The Independent UK

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The Guardian - UK

World Bank warns oil price could soar to record $150 a barrel

Escalation of Israel-Hamas war into Middle East-wide conflict would disrupt oil supplies and stoke food prices, says Bank

The Hindu

International experts to feature in Keraleeyam seminars

Keraleeyam 2023: 20+ int'l experts to lead 25 seminars. Robin Jeffrey, Patrick Heller to discuss Kerala economy. Richard A. Cash to lecture on pandemic. Prakash Kalarickal, Glenn Denning to speak on dairy, food security. World Bank's Dilip Ratha, Rajai Jureidhini from Hamad Bin Khalifa Univ. to join.

The Conversation

The World Bank and the IMF need to keep reforming to become fit for purpose

The World Bank and the International Monetary Fund are being challenged to make substantial reforms so that they become fit for purpose in the 21st century.

Radio France Internationale

World Bank to implement LGBTQ safeguards before resuming new Uganda funding

The World Bank will aim to ensure gay and transgender Ugandans are not discriminated against in its programmes before resuming new funding, which was halted in August over an anti-LGBTQ law, a bank executive said.

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The Guardian - UK

UK needs to rebuild global development reputation, admits Andrew Mitchell

Development minister’s comments at World Bank summit in Marrakech acknowledge effect of aid budget cuts

The Guardian - UK

Rich nations, the IMF and World Bank are worried about the Israel-Hamas war, but not nearly enough

Just like the Yom Kippur war 50 years before, the current conflict represents a grave threat to an already fragile global economy

The Guardian - UK

Africa’s ‘optimist-in-chief’ on the continent’s renaissance: ‘Don’t just believe me, believe the data’

In an exclusive interview, Akinwumi Adesina, head of the African Development Bank, says the outlook is good for a continent with the workers of the future and the best investment opportunities

The Independent UK

IMF and World Bank are urged to boost funding for African nations facing conflict and climate change

Most of the population in conflict-affected countries like Niger, Mali, Burkina Faso, Chad and northern Nigeria depends on climate-vulnerable agriculture

The Guardian - UK

Severe debt burdens thwarting progress on climate and poverty, says World Bank

Bank’s new president Ajay Banga urges faster action on providing debt relief but says there is no ‘magic wand’

France 24

'Ending poverty on a liveable planet': World Bank in push to boost climate finance

As the annual meetings of the International Monetary Fund and World Bank take place this week in Marrakech, FRANCE 24's Charles Pellegrin speaks to the World Bank's Senior Managing Director Axel Van Trotsenburg about the urgent need to increase climate financing, calls for reform of the institution and the potential…

The Independent UK

Morocco welcomes the annual meeting of the IMF and World Bank a month after its deadly earthquake

The International Monetary Fund and World Bank are holding their annual meeting in Morocco, one month after an earthquake killed nearly 3,000 people in the North African country

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