The World Bank
Recent News About The World Bank
-
World Bank urges urgent educational reform for inclusive growth in Sub-Saharan Africa
Despite signs of a fragile economic recovery, Sub-Saharan Africa remains in "low gear," with a large youth population at risk of being left behind. According to the latest edition of Africa's Pulse, the World Bank’s regional economic update released on October 14, two factors are critical for inclusive growth: stabilizing economies and transforming education to equip the region’s workforce with foundational skills and market-relevant expertise.
-
Malaysia anticipates economic growth amid agricultural modernization efforts
Malaysia's economy is projected to grow by 4.9 percent in 2024, an increase from the previous year's 3.7 percent, according to recent findings. This growth forecast is revised upwards by 0.6 percentage points due to strong performance in consumption, investment, and trade activities during the first half of 2024.
-
World Bank highlights digital tech's role in boosting Malaysia's agricultural economy
Widespread use and scaling of digital agriculture technologies (DATs) are expected to accelerate Malaysia's progress toward becoming a high-income nation, according to a World Bank report. The Malaysia Economic Monitor report, titled "Farming the Future: Harvesting Malaysia’s Agricultural Resilience through Digital Technologies," emphasizes that DATs can significantly boost economic growth by enhancing productivity in the vital agriculture sector.
-
World Bank outlines diverse agenda for CBD COP16 in Cali
The World Bank has released its schedule of events for the 16th Conference of the Parties to the Convention on Biological Diversity (CBD COP16), taking place in Cali, Colombia. The series of events will span from October 21 to October 31, focusing on various themes related to biodiversity, finance, and sustainable development.
-
World Bank emphasizes investment in global education for vulnerable young women
With 122 million girls out of school globally, many in fragile and conflict-affected areas, the World Bank emphasizes investing in girls' education as part of its new Gender Strategy. The International Day of the Girl Child on October 11 highlights the need for equitable education for all children, particularly in these challenging contexts.
-
World Bank appoints new country manager for Romania and Hungary
Mr. Yasser El-Gammal has been appointed as the World Bank Country Manager for Romania and Hungary, effective from October 1, 2024. Based in Bucharest, he will oversee the World Bank's operations in both countries and lead discussions with government officials, private sector representatives, civil society, and other stakeholders.
-
World Bank forecasts stronger growth for South Asia amid challenges
The World Bank has released its latest economic outlook, focusing on the growth prospects for South Asia and analyzing how the region can capitalize on the green energy transition. According to the report, growth in South Asia is anticipated to surpass previous expectations, marking a broad-based upturn that outpaces other emerging market and developing economies.
-
World Bank urges Maldives to implement urgent economic reforms amid rising vulnerabilities
The Maldives is facing significant economic challenges that require immediate and comprehensive reforms, according to the World Bank's latest country economic update. The report, titled "Maldives Development Update: Seeking Stability in Turbulent Times," highlights vulnerabilities in the country's fiscal and external sectors.
-
World Bank urges reforms for sustained recovery in Pakistan
Pakistan's economy is showing signs of stabilization following a recent economic crisis, with growth reaching 2.5 percent in the fiscal year ending June 2024, according to the World Bank's latest country economic update. The report, titled "The Dynamics of Power Sector Distribution Reform," highlights improvements in agricultural output, lower inflation, prudent macroeconomic measures, and reduced political uncertainty as factors contributing to this recovery.
-
World Bank urges reforms as South Asia's economic growth exceeds expectations
Growth in South Asia is anticipated to rise to 6.4 percent this year, surpassing earlier predictions and positioning the region as the fastest-growing globally. The World Bank's latest regional outlook suggests that increasing women's participation in the workforce and enhancing global trade and investment could further accelerate growth.
-
World Bank advises fiscal measures as Sierra Leone faces slower growth
Sierra Leone's economy grew by 5.7% in 2023, surpassing expectations, largely due to strong performance in the mining sector. However, a new report from the World Bank forecasts a slowdown to 4.3% growth in 2024, attributed to declining iron ore prices. The Sierra Leone Economic Update, released today, presents a cautiously optimistic medium-term outlook with growth anticipated to recover to its long-term average of 4.6%. This recovery is expected to be driven by a resurgence in the service sector, improved agricultural productivity, robust mining activity, and ongoing fiscal...
-
World Bank reports on Sri Lanka's stabilized economy amid ongoing reforms
Sri Lanka's economy is showing signs of stabilization, with growth projected to reach 4.4 percent in 2024, according to the World Bank. This forecast surpasses earlier predictions and follows four consecutive quarters of growth driven by the industrial and tourism sectors. The positive outlook has been supported by critical structural and policy reforms.
-
World Bank issues SEK 3 billion bond supporting sustainable development goals
The World Bank has issued a Swedish krona-denominated bond, raising SEK 3 billion. The bond, which matures on October 10, 2034, was placed with Nordic investors and offers an annual coupon of 2.5%. Nordea Bank Abp acted as the lead manager for this transaction.
-
World Bank: Greater investment crucial as Pacific economy slows
The World Bank's October 2024 Pacific Economic Update offers a comprehensive evaluation of the economies in several Pacific nations, including the Federated States of Micronesia, Fiji, Kiribati, and others. This report is the first post-pandemic analysis to provide fresh insights into investment trends and forecasts for the region.
-
World Bank coordinates donor financing mechanisms to aid Ukrainian recovery
Since the Russian invasion in February 2022, the World Bank Group has been instrumental in providing essential financing to support Ukraine. This assistance comes through various mechanisms such as trust funds, financial intermediaries, guarantees, and co-financing aimed at sustaining public services, rebuilding infrastructure, and supporting private sector initiatives.
-
World Bank funds Philippine project for improved broadband connectivity
The World Bank has approved funding of EUR 268.22 million (US$287.24 million) for the Philippines Digital Infrastructure Project, which aims to enhance broadband connectivity across the country. This initiative is expected to benefit over 20 million Filipinos by improving internet access and infrastructure.
-
World Bank report outlines challenges for Mongolia amid global shift from coal
Mongolia is facing significant challenges from climate change and the global transition to a low-carbon economy, according to a new report by the World Bank Group. The Mongolia Country Climate and Development Report (CCDR) highlights the need for urgent actions to enhance climate resilience while reducing reliance on coal, a major economic driver.
-
World Bank report assesses air quality issues and solutions for Tashkent
The World Bank has released a report titled "Air Quality Assessment for Tashkent and the Roadmap for Air Quality Management Improvement in Uzbekistan," which evaluates air quality in Tashkent and proposes a roadmap for enhancing air quality management across Uzbekistan. The report was jointly produced with the Ministry of Ecology, Environmental Protection and Climate Change of Uzbekistan, supported by the Ministry of Economy and Finance.
-
World Bank highlights opportunities for growth in Latin America amid structural challenges
Latin America and the Caribbean are projected to experience a growth rate of 1.9 percent in 2024, according to the World Bank's latest report titled "Taxing Wealth for Equity and Growth." The region is expected to grow by 2.6 percent in 2025, which remains the lowest among global regions due to ongoing structural challenges.
-
World Bank aids DRC's fight against mpox with strategic investments
The World Bank has taken significant steps to support the Democratic Republic of Congo (DRC) in combating the mpox epidemic. According to Dr. Michel Muvudi, long-term investment financing has been provided for healthcare and diagnostic infrastructure, with over $2 billion invested in the health sector over the past decade. The World Bank is actively supporting the government's response plan by mobilizing funds for projects like REDISSE and PMNS.