The World Bank
Recent News About The World Bank
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World Bank supports global education resilience amid COVID-19
During the COVID-19 pandemic, several countries implemented remote learning strategies to ensure educational continuity amid school closures.
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World Bank supports Maldivian secondary education with additional financing
The World Bank has approved a $2.7 million grant from the Global Partnership for Education to enhance the Atoll Education Development Project in the Maldives.
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Amazonia Bonds: New guidelines aim to finance sustainable projects in the region
The Inter-American Development Bank (IDB) and the World Bank have unveiled guidelines for Amazonia Bonds, a new capital markets instrument aimed at financing activities that positively impact local communities, biodiversity, and zero deforestation...
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Nepal secures $150M from World Bank to boost disaster resilience
The Government of Nepal and the World Bank have formalized a US$150 million financing agreement aimed at enhancing Nepal's disaster response capabilities.
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World Bank aids Haitian displaced with essential WASH support
Marie Jeanne Montrose, a widow with four children, is among the many displaced individuals in Port-au-Prince, Haiti.
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World Bank forecasts declining commodity prices amid global slowdown
The World Bank has released its latest Commodity Markets Outlook, predicting a continued decline in most commodity prices into 2025. This follows a period of exceptional growth between 2021 and mid-2022. According to the report, energy prices are projected to drop by 14% next year after an expected fall of 26% this year.
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World Bank grants $21 million for Samoan finance sector development
The World Bank has approved a $21 million grant to support the Samoa Finance Sector Resilience and Development Project.
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Sweden and Iceland invest in World Bank's hybrid capital
Sweden and Iceland have announced their commitments to invest in hybrid capital, a financial product that significantly enhances the World Bank's lending capacity.
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Rogun hydropower plant project progresses towards regional energy security
Tajikistan is progressing with the Rogun Hydropower Plant Project, which aims to enhance energy security and promote renewable energy in Central Asia.
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Japan partners with World Bank in $1B portfolio guarantee deal
Japan has entered into a $1 billion portfolio guarantee agreement with the World Bank, aimed at enhancing financing for projects that tackle global challenges.
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World Bank Conclave focuses on equipping youth with essential future job skills
In a rapidly evolving world influenced by digital technology, climate change, and fragility, the youth face new challenges and opportunities.
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Latvia boosts contribution to World Bank fund by 60% amid global crises
Latvia has committed to increasing its financial contribution to the International Development Association (IDA) by 60%, amounting to €9.48 million.
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World Bank focuses on jobs and gender at Annual Meetings
The World Bank Group's recent Annual Meetings showcased significant progress in its reform agenda and introduced a new focus on job creation.
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International bodies propose coordinated approach on climate action in new joint report
Five international organizations have released a significant report detailing potential coordinated approaches to climate action, carbon pricing, and the cross-border effects of climate change mitigation policies. The report was presented by the Joint Task Force on Climate Action, Carbon Pricing, and Policy Spillovers, convened by the World Trade Organization (WTO) and joined by the International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), United Nations Conference on Trade and Development (UNCTAD), and the World Bank.
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World Bank launches strategy for women's economic empowerment by 2030
The World Bank Group has announced its Gender Strategy 2030, aiming to enhance economic opportunities for women by 2030. The initiative was introduced at the 2024 World Bank Group Annual Meetings and focuses on three main areas: broadband access, social protection, and capital provision.
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World Bank reviews Nepal's human capital for economic growth
The World Bank Group has released the Nepal Human Capital Review (NHCR) as part of its global Human Capital Project. This initiative highlights the importance of investing in people to boost economic growth and prosperity through improved education, health, and nutrition. The review aims to understand why income inequalities persist and why many Nepalis remain in poverty.
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Spain boosts financial pledge by nearly 40% for international development association
Spain has announced an early financial commitment of €400 million to the International Development Association (IDA), the World Bank's fund for low-income countries. This represents a 37% increase compared to the previous IDA replenishment cycle, highlighting Spain's ongoing dedication to sustainable development worldwide. With this contribution, Spain's total donations exceed €5 billion since IDA's inception.
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Cabo Verde advances toward becoming a West African digital hub
Cabo Verde is setting its sights on becoming a digital hub in West Africa, with significant investments aimed at modernizing public services and boosting the economy. The government has outlined plans to digitize 60% of public services by 2026, with aspirations to reach over 80% by 2030. Key initiatives include the Weblabs program, which educates nearly 14,000 students in digital fields, and Cabo Verde Digital's efforts to foster innovation among startups.
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World Bank doubles commitment in agribusiness aiming for $9 billion annually by 2030
The World Bank Group has announced a significant shift in its approach to agribusiness, aiming to create a comprehensive ecosystem for the industry. This new strategy will see the institution double its agri-finance and agribusiness commitments to $9 billion annually by 2030. The announcement comes as four key trends—climate change, financial innovations, digitalization, and solutions to fragmentation—are reshaping the agribusiness landscape.
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World Bank Group partners with Austria for new Vienna Development Knowledge Center
Austria has been a long-standing partner of the World Bank Group (WBG), supporting various knowledge programs over the years. These programs have covered topics such as financial sector reform, investment climate, urban development, climate change, and water management. Recently, Austria supported the expansion of the WBG Vienna office into a significant operations hub for the Europe and Central Asia (ECA) region, which now hosts over 300 staff.