The World Bank
Recent News About The World Bank
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Sri Lanka completes pandemic preparedness assessment amid aging population concerns
The Sri Lanka Pandemic Preparedness Assessment, conducted from 2020 to 2023, aimed to assist the government in optimizing health investments and enhancing preparedness for future pandemics, with a particular focus on addressing the needs of a rapidly aging population.
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World Bank reports over 400 million students affected by weather-related school closures since 2022
A new World Bank report reveals that more than 400 million students worldwide have experienced school closures due to extreme weather since 2022. The report, released today, underscores the severe impact of climate change on education in low- and middle-income countries and proposes solutions to leverage education for climate action. It estimates that a one-time investment of $18.51 per child can mitigate the adverse effects of climate shocks.
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Education key in mitigating effects of widespread school closures due to climate change
More than 400 million students have been affected by climate-related school closures since 2022, according to a recent report. The report emphasizes that for less than $20 per student, schools can adapt and minimize learning losses.
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World Bank projects strong economic growth for India despite subdued global conditions
NEW DELHI, September 3, 2024 — The Indian economy continues to grow at a healthy pace despite challenging global conditions, according to the World Bank’s latest India Development Update: India’s Trade Opportunities in a Changing Global Context. However, to reach its $1 trillion merchandise exports goal by 2030, India needs to diversify its export basket and leverage global value chains.
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Serbia receives $65 million from World Bank for railway maintenance
Serbia will enhance the maintenance of its railway infrastructure with a new $65 million support from the World Bank. This funding represents the second tranche of the Multiphase Programmatic Approach (MPA) for Serbia Railway Sector Modernization Project, aimed at building a safer, more efficient, and climate-friendly rail sector.
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World Bank appoints Qimiao Fan as country director for Kenya, Rwanda, Somalia & Uganda
Nairobi, September 2, 2024 – The World Bank has appointed Mr. Qimiao Fan as the new Country Director for Kenya, Rwanda, Somalia, and Uganda, effective September 1, 2024. Mr. Fan, who has over 35 years of experience in development practice, will oversee the design and implementation of the World Bank’s support program to the four countries that has an active portfolio consisting of 102 projects totaling $17.2 billion.
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World Bank outlines strategies for Paraguay’s economic transformation
Paraguay is positioned for a promising future, with abundant natural resources, a young population, and a stable macroeconomic environment. However, to fully realize its potential, the country needs to adopt a new growth strategy that prioritizes productivity, resilience, and sustainability.
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World Bank outlines policy recommendations for Mongolia's sustainable development vision
The World Bank Group has prepared a series of Policy Notes to address a range of issues and provide actionable recommendations for Mongolia's new government, formed in July 2024. These notes aim to assist the government in diversifying and strengthening national assets beyond the mining sector to meet the country's sustainable and green development goals, as outlined in Mongolia’s Vision 2050 and New Recovery Policy objectives.
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World Bank delegation emphasizes strong development engagement during visit to Haiti
Port-au-Prince, Haiti, 30 August 2024 — Director for the World Bank’s International Development Association (IDA) Resource Mobilization, Dirk Reinermann, completed a three-day visit to Haiti on Friday, August 30. During the visit, priorities of the new administration were discussed and the World Bank’s commitment to continue fighting against extreme poverty in Haiti was underscored.
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World Bank announces $415 million aid for Ukrainian education amid ongoing conflict
WASHINGTON, August 30, 2024—A new $415 million education program to improve primary and secondary education in Ukraine will reach one million students, teachers, and school staff, the World Bank announced today.
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World Bank warns against fraudulent scheme in DR Congo
KINSHASA, August 30, 2024: Following recent reports linking an entity calling itself "Pan-African Investment Program" to the World Bank in the Democratic Republic of Congo, the World Bank is warning the general public of ongoing scams. This entity claims to be recruiting local companies for a project to "build ten schools per province," falsely associated with World Bank financing.
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Digital technology's role in transforming global food systems
The global food system faces significant challenges, with inefficiencies and waste prevalent despite increased output. Abundance and hunger coexist, highlighting a core issue: unequal access to information among farmers and within markets. These inflexible systems result in high transaction costs.
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World Bank highlights gaps in climate finance among emerging market banks
WASHINGTON, August 29, 2024 — In almost 60% of banks in Emerging Market and Developing Economies (EMDEs), lending for climate-related investment accounts for less than 5% of their overall portfolios, and more than one-quarter offer no climate financing at all, according to a new World Bank report.
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World Bank aids Batken region in post-conflict recovery
Баткенская область Кыргызской Республики, расположенная на юго-западе страны и граничащая с Таджикистаном и Узбекистаном, известна своими горными пейзажами и культурным разнообразием. Однако этот регион остается малоразвитым и сталкивается с серьезными вызовами, особенно после конфликта вдоль кыргызско-таджикской границы в сентябре 2022 года. Конфликт привел к гибели десятков людей и разрушению объектов социальной инфраструктуры, таких как школы, детские сады и медицинские учреждения. Этот кризис значительно повлиял на местных жителей, нарушив процесс обучения и ограничив...
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World Bank aids Kyrgyz Republic's post-conflict recovery
The Kyrgyz Republic’s Batken region, located in the country’s southwest and bordering both Tajikistan and Uzbekistan, is celebrated for its mountainous landscapes and rich cultural diversity. However, this remote area remains underdeveloped and has faced significant challenges, particularly following conflict along the Kyrgyz-Tajik border in September 2022, which claimed dozens of lives and caused damage, destruction, and closure of public infrastructure like schools, kindergartens, and health clinics. This significantly impacted local children and families, disrupting...
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World Bank calls for better-targeted agricultural subsidies
The bulk of government support to agriculture provides short-term benefits that are often at the cost of long-term outcomes for people, economies, and the planet. Globally, agriculture receives more than $700 billion a year in public support. Much of this is poorly targeted: each subsidized dollar farmers receive generates only 35 cents in additional output. Agricultural policies play a critical role in the development of resilient food supply chains. But many policies create incentives that favor unsustainable production, increasing emissions, accelerating land degradation,...
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Mobilizing capital for development in agriculture
Transforming food systems to reduce carbon emissions and achieve the Sustainable Development Goals requires a significant increase in investment across the agricultural value chain. Large, coordinated flows of public and private capital are needed to address decades of underinvestment and meet current and future challenges.
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Upcoming Finance and Prosperity Report 2024 offers critical insights
Discover the critical insights of the upcoming Finance and Prosperity Report 2024 through these compelling interactive graphs. Engage with these visualizations to explore the data, understand the trends, and gain valuable insights into the future of finance and prosperity.
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World Bank emphasizes resilience in global food security amid climate challenges
Food and nutrition security crises are expected to persist in the coming years. While it is impossible to avoid shocks, especially with the intensification of climate change, their impacts can be mitigated to prevent significant setbacks in achieving long-term development goals. This necessitates improved preparedness for swift responses when crisis risks first appear and bolstering innovative efforts to construct resilient food and nutrition systems globally.
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Kinshasa adopts nature-based solutions to tackle urbanization challenges
Kinshasa, the capital city of the Democratic Republic of the Congo, is experiencing rapid urban growth, expanding by approximately 2,000 people and five hectares daily. This expansion has led to significant challenges, including flooding, soil erosion, and increased temperatures due to the replacement of green spaces with concrete and metal structures.