The World Bank
Recent News About The World Bank
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World Bank approves $90M funding boost for Djibouti economic corridor
The World Bank’s Board of Directors has approved US$90 million in additional financing for the Horn of Africa Initiative: Djibouti Regional Economic Corridor project. The new support will expand the scope of the US$70 million original project, approved in December 2021, to enhance regional connectivity and resilience, logistics efficiency, and improve accessibility for the population living in Djibouti along the Djibouti-Addis Southern corridor.
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World Bank approves $100.4 million project for Burkina Faso
The World Bank has approved a $100.4 million Human Capital Protection Project to support Burkina Faso's efforts in delivering basic social services. The project aims to improve access to health and education services in the country.
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Guinea's economic update reveals strong growth driven by mining sector
The First Annual Edition of the Guinea Economic Update: Natural Resource Management for Development presents an overview of Guinea’s evolving macroeconomic position, recent economic developments, macroeconomic outlook, and risks. It highlights the importance of agriculture for structural transformation and climate-proofing Guinea’s economy. It also includes measures that could help the Guinean Government foster agricultural growth that is more productive, inclusive, resilient to climate change risks, and contributes less to climate change.
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World Bank unveils framework for sustainable artisanal mining
The World Bank today unveiled a new vision to unlock the potential of artisanal and small-scale mining (ASM) to drive economic growth, boost development, and reduce poverty in developing countries. The sector, which supplies minerals essential for the global clean energy transition, continues to face significant challenges, including environmental harm, gender inequality, human rights issues, and health and safety risks.
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World Bank's "Mission 300" aims for widespread electrification in Sub-Saharan Africa by 2030
Africans, soon to be the world’s largest workforce, have an opportunity to transform their region into a global economic powerhouse—provided they have access to modern power.
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World Bank renews partnership with Romania aiming at growth competitiveness
The World Bank Group’s Board of Executive Directors has endorsed a new five-year Country Partnership Framework (CPF) for Romania. The framework aims to reduce poverty and promote prosperity across the country by improving human capital outcomes, creating better job opportunities and a more competitive economy, and speeding up the green transition.
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World Bank reports record $42.6 billion climate finance for fiscal year 2024
WASHINGTON, September 19, 2024 -- The World Bank Group delivered a record $42.6 billion in climate finance in fiscal year 2024—which covers July 1, 2023 to June 30, 2024—supporting efforts to end poverty on a livable planet, investing in cleaner energy, more resilient communities, and stronger economies. This represents a 10% increase in climate finance compared to the previous year.
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World Bank urges urgent reforms for Solomon Islands' economic resilience
Research shows reform could drive country to upper-middle income status by 2040
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World Bank Vice President visits Bangladesh for high-level meetings
DHAKA, September 18, 2024 — The World Bank Vice President for the South Asia Region, Martin Raiser, arrives in Dhaka today.
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Social accountability initiatives transform lives: A case study from Cambodia
Channa Pak’s journey from waste picker in an urban slum in Phnom Penh to becoming one of 3,523 Community Accountability Facilitators in Cambodia exemplifies the transformative power of social accountability initiatives. The Social Accountability Forum held in Phnom Penh on March 29, 2024, brought together government ministries, civil society organizations, development partners, the media, and youth groups to highlight the impact of citizen engagement on public service delivery.
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World Bank supports Rwandan initiative on skill development
Investing in skills development across key sectors of the economy is crucial to accelerating the growth of Rwanda’s private sector and achieving the country’s economic targets, as outlined in Vision 2050.
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Rwanda's economy grows by nearly ten percent amid global slowdown
Rwanda's Economy Registers Strong Growth in Early 2024 Despite Persistent Challenges
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World Bank outlines strategies for Maldivian climate resilience in new report
The Maldives, with an economy heavily reliant on tourism and fisheries, faces significant threats from climate change. These two sectors account for nearly half of the nation's GDP and employment. The impacts of climate change on coral reefs and fisheries are already evident and are projected to worsen by mid-century under both high and moderate emission scenarios. This environmental degradation poses severe risks to the Maldives' economy and ecosystems.
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Dominica leverages natural resources for climate resilience and economic growth
Dominica is not a typical Caribbean island. While it lacks white sand beaches, its beauty is evident through its lush forests, geothermal springs, rivers, and waterfalls. Dominica's forests cover more than 60 percent of the island's landmass and are home to diverse species such as the Jaco parrot and the Manicou possum.
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Solomon Islands study identifies key areas for economic growth
The Solomon Islands Country Economic Memorandum Sources of Growth Study emphasizes opportunities to boost growth in the country through digitalization, improved transport connectivity, and better urban planning. It also outlines steps to stimulate private-sector investment in tourism, agriculture, and fisheries.
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Western Cape report suggests strategies for improving education sector
The Western Cape Education Sector Analysis, jointly prepared by the World Bank and South Africa’s Western Cape Education Department (WCED), offers key insights and recommendations for improving the quality of learning in the province’s schools while addressing the growing demand for access due to rising enrolments. The Western Cape is a coastal province at the southernmost tip of South Africa, home to a culturally diverse population spread across agricultural and fishing towns, various townships, and the city of Cape Town.
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World Bank launches innovative project supporting Uzbekistan's green transition
Across the globe, countries are looking to cut their greenhouse gas (GHG) emissions to meet the national determined contributions (NDCs) they have committed to as part of the Paris Agreement to combat climate change.
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Climate change threatens key Maldivian industries per World Bank report
MALE’, September 17, 2024 – The Maldives’ economy, heavily reliant on tourism and fisheries, is facing severe risks due to climate change, according to a new World Bank Group report released today.
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Global report urges investment in healthy longevity amid rapid demographic shifts
Global aging represents a significant achievement in development, with adults over 60 being the fastest-growing demographic worldwide. This demographic shift will influence labor markets, immigration policies, healthcare systems, social protection frameworks, and economies. Rapidly aging societies must develop adaptable strategies focusing on marginalized groups, particularly women who often live longer with non-communicable diseases (NCDs) and chronic illnesses while bearing most caregiving responsibilities.
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World Bank approves $100 million loan for rural roads improvement in Ecuador's Guayas Province
Washington, D.C., September 13, 2024 - The World Bank Board of Directors has approved a new loan to support rural road improvement in Guayas Province, Ecuador.