world Bank

Ukraine needs $486 bln to recover, rebuild after nearly two years of war – World Bank

By Andrea Shalal WASHINGTON, Feb 15 (Reuters) - Rebuilding Ukraine's economy after Russia's invasion nearly two years ago is expected to cost $486 billion, 2.8 times its 2023 expected economic…

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World Bank, WTO chiefs seek to reignite services trade negotiations

The heads of the World Bank and the World Trade Organization on Monday called for countries to boost efforts to make trade in global services more transparent and predictable, saying…

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World Bank lends $50.8 mln to cut air pollution in Bosnian region

SARAJEVO (Reuters) - The World Bank has approved a 46.1 million euro ($50.8 million) loan to help Bosnia's autonomous Bosniak-Croat Federation tackle alarming air pollution and its health and economic…

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World Bank set to launch more robust, transparent business climate rankings

By Andrea Shalal WASHINGTON, May 1 (Reuters) - The World Bank will announce on Monday a new methodology for assessing the business climate in up to 180 countries after embarrassing…

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World Bank: Global migration to grow, needs better management

By David Lawder WASHINGTON (Reuters) - Rapid aging of both wealthy and middle-income countries will make their economies increasingly dependent on migration from poorer countries, and the process needs to…

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World Bank seeks more private cash as yearly needs balloon to $2.4 trillion

(Reuters) - World Bank President David Malpass set out this week a new road map for private sector participation in project financing across emerging and developing economies as yearly financing…

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World Bank chief to leave by July

By Andrea Shalal, David Lawder and Valerie Volcovici WASHINGTON, Feb 15 (Reuters) - World Bank President David Malpass on Wednesday said he would leave his post well before his term…

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World Bank lends Tunisia $120 mln to finance small and medium firms

TUNIS, Feb 9 (Reuters) - The World Bank has approved a $120 million loan for Tunisia to support access to finance for Tunisian small and medium enterprises, the bank said…

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World Bank seeks more funds to address climate change, other crises

The World Bank is seeking to vastly expand its lending capacity to address climate change and other global crises and will negotiate with shareholders ahead of April meetings on proposals that include a…

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World Bank says Ukraine has tenfold increase in poverty due to war

WASHINGTON (Reuters) - Russia's attacks on civilian infrastructure in Ukrainian cities away from the front lines will complicate the dire economic situation facing the country, which has already seen a…

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World Bank accuses Lebanese politicians of cruelty over deposit promises

BEIRUT, Aug 3 (Reuters) - The World Bank accused Lebanese politicians of being cruel by asserting that deposits in the country's collapsed banking sector are sacred, saying such slogans "flagrantly…

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World Bank’s Reinhart ‘skeptical’ global recession can be avoided

World Bank chief economist Carmen Reinhart said she is skeptical that the U.S. and global economies can dodge a recession, given spiking inflation, sharp hikes in interest rates and slowing growth in…

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World Bank to give Egypt $500 million to boost food security

CAIRO, June 29 (Reuters) - The World Bank has agreed to provide Egypt with $500 million in development funds to boost food security amid the fallout from the coronavirus pandemic and the…

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Microsoft partners with World Bank to improve disability representation

Microsoft announced a collaborative initiative with the World Bank to help bridge the disability divide through the use of digital technologies. According to a report by the World Bank, many…

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World Bank, IMF, WTO leaders urge quick action on action plan to address food security

The leaders of the International Monetary Fund, World Trade Organization and the World Bank called for quick work on a new action plan on food security to be prepared by…

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

TUNIS, (Reuters) - The World Bank said 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. It…

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Grim warning by World Bank that Ukraine war-related inflation may drive protests and riots

WASHINGTON (Reuters) - 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,…

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Poland gets World Bank loan to help wean households off coal heating

WARSAW, Dec 9 (Reuters) - Poland is to receive a 250 million euro ($282.93 million) loan from the World Bank to help households replace coal heating and get their homes…

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World Bank works to redirect frozen funds to Afghanistan for humanitarian aid only

The World Bank is finalizing a proposal to deliver up to $500 million from a frozen Afghanistan aid fund to humanitarian agencies, people familiar with the plans told Reuters, but it leaves out…

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Britain to fund $3 bln worth of green investments in developing economies

Britain announced on Monday it will fund green investments of more than 3 billion pounds ($4.11 billion) over five years and new guarantees to support clean infrastructure projects in developing…

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IMF’s Georgieva accuses former World Bank President Kim’s office of manipulation

IMF chief Kristalina Georgieva criticized as "false and spurious" the findings of an independent probe into allegations that as World Bank head she pressured staff to manipulate data to make…

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IMF chief called out over pressure to favor China while at World Bank

World Bank leaders, including then-Chief Executive Kristalina Georgieva, applied "undue pressure" on staff to boost China's ranking in the bank's "Doing Business 2018" report, according to an independent investigation released…

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World Bank rejects El Salvador request for help on bitcoin implementation

The World Bank said it could not assist El Salvador's bitcoin implementation given environmental and transparency drawbacks. "We are committed to helping El Salvador in numerous ways including for currency…

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World Bank readies COVID-19 vaccine funds for around 30 African countries

The World Bank is preparing emergency financing to help about 30 African countries access COVID-19 vaccines, the global lender told Reuters, as the continent scrambles to secure doses and start…

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World Bank to invest $5 bln in 11 African countries

The World Bank on Monday said it would invest over $5 billion over the next five years to help restore degraded landscapes, improve agriculture productivity, and promote livelihoods in 11…

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World Bank board approves $12 billion for COVID-19 vaccines, treatments in developing countries

he World Bank said its executive board approved $12 billion in new funding for developing countries to finance the purchase and distribution of COVID-19 vaccines, tests and treatments for their…

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Sub-Saharan Africa to contract 3.3% this year, World Bank says

The coronavirus crisis is expected to drive a 3.3% contraction in sub-Saharan African economies in 2020 and could push 40 million people into extreme poverty, the World Bank said on…

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South Asia faces worst ever recession, tipping millions into poverty – World Bank

Millions of people in South Asia are being pushed into extreme poverty as the region where a quarter of humanity lives suffers its worst-ever recession due to the devastating impact…

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World Bank seeks board approval for $12 bln coronavirus vaccine financing plan

World Bank President David Malpass said he is seeking board approval for a $12 billion coronavirus vaccine financing plan to help poor and developing countries secure a sufficient share of…

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Global economic recovery may take 5 years, World Bank chief economist says

The global economic recovery from the crisis originated by the coronavirus pandemic may take as much as five years, the World Bank's chief economist Carmen Reinhart said on Thursday. "There…

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World Bank says coronavirus to shrink 2020 global output by 5.2%

The coronavirus will cause global economic output to contract by 5.2% in 2020, the World Bank said , warning that its latest forecasts would be revised downward if uncertainty over…

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World Bank warns 60m at risk of ‘extreme poverty’

Up to 60m people will be pushed into "extreme poverty" by the coronavirus warns the president of the World Bank. David Malpass said the bank expects global economic growth to…

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Sub-Saharan Africa to fall into recession in 2020, says World Bank

The rapidly-spreading coronavirus outbreak is expected to push sub-Saharan Africa into recession in 2020 for the first time in 25 years, the World Bank said in a new forecast on Thursday.…

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Coronavirus will be devastating for poorest nations – World Bank

The managing director of the World Bank has told Sky News that the coronavirus could wreak devastation on populations in the developing world. Axel van Trotsenberg says poorer countries urgently…

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World Bank ready to support Lebanon

The World Bank said it stood ready to back a new Lebanese government, warning the country had no time to waste to tackle an emerging economic crisis worsening by the…

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World Bank president resigns

Jim Yong Kim, the president of the World Bank, abruptly announced that he will be leaving his post on February 1, more than three years ahead of the end of…

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