The World Bank
Recent News About The World Bank
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Philippines urged to invest more effectively in human capital
Honorable Secretary Arsenio Balisacan of NEDA, Honorable Secretary Renato Solidum, Jr. of the Department of Science and Technology, other government officials, panelists of this forum, leaders of academia, civil society, the private sector, development partners, esteemed guests, colleagues, and friends. Good morning.
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World Bank urges Philippine investment in early childhood development
Increasing investment in children's early development will improve the well-being of all Filipinos and strengthen the country's economic potential, a World Bank report released on Monday said.
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World Bank projects steady economic growth for Indonesia amid structural challenges
Indonesia’s economy is projected to grow steadily in the coming years, bolstered by increased public spending, rising business investment, and steady consumer demand, according to a new report from the World Bank.
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Cambodia improves maternal-child healthcare through community-based initiatives
Providing equitable access to quality health and nutrition services for women and children in the first 1,000 days of life remains a challenge in Cambodia. Through the Cambodia Nutrition Project, the national government has reformed health and nutrition systems to give local authorities more control over managing and delivering services in their communes/sangkats and villages. The project funded the recruitment and training of 4,459 village health workers — 3,255 of them women — supporting higher quality service delivery across nine provinces.
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World Bank approves $150 million for improving primary healthcare in Sri Lanka
The World Bank’s Board of Executive Directors has approved $150 million in financing for Sri Lanka to enhance the quality and utilization of its primary healthcare services. The newly sanctioned Sri Lanka Primary Healthcare System Enhancing Project aims to improve care quality and increase the use of primary medical care institutions, which provide essential health services to local communities.
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World Bank suggests $546M investment in Tanzanian livestock
Tanzania can significantly boost its livestock sector's economic contribution with a comprehensive plan that emphasizes climate-smart strategies and innovations, according to a new report by the World Bank. The 21st Tanzania Economic Update, titled "Harnessing the Opportunity for a Climate-Smart and Competitive Livestock Sector in Tanzania," recommends backing such a plan with at least $546 million in public investments over the next five years. This annual investment of approximately $109 million represents a fivefold increase over previous budgets and a 50 percent increase...
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World Bank debars Future Netwings Solutions over collusive practices
The World Bank Group announced today the 15-month debarment of Future Netwings Solutions Private Limited (FNSPL), an India-based IT and networking services provider, due to collusive practices related to the West Bengal Institutional Strengthening of Gram Panchayats Program II in India.
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World Bank approves $600 million funding for Moroccan public sector improvement
The World Bank's Board of Directors has approved US$600 million for Morocco to finance two projects aimed at improving public service delivery, inclusiveness, and the performance of the public sector.
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World Bank approves $200 million to improve Senegal's water security
The World Bank has approved $200 million in financing to aid Senegal in enhancing its sanitation services and water resources in key water security hotspots. This initiative marks the first phase of the Integrated Water Security and Sanitation Program for Senegal (PISEA), targeting improved access to drinking water, better sanitation, and resilience against flood and drought risks.
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World Bank approves $110M boost for municipal support program in Senegal
The World Bank has approved an additional $110 million in Program for Results financing for the Municipal and Agglomeration Support Program (PACASEN) in Senegal. This additional financing aims to scale up efforts to local governments and improve their management of public investments.
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World Bank approves $107 million credit for sustainable transport infrastructure in southern Viet Nam
The World Bank Board of Directors has approved a US$107 million credit to enhance the capacity, efficiency, and safety of inland waterways in southern Viet Nam. This initiative aims to reduce greenhouse gas emissions within the country's transport sector.
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World Bank approves $145 million investment for Cambodia's water security
Over 113,000 people in Cambodia are expected to benefit from improved water supply infrastructure following the approval of a new World Bank-supported project. Funded by a US$145 million credit from the World Bank’s International Development Association, the Cambodia Water Security Improvement Project aims to enhance water security, increase agricultural productivity, and build resilience to climate risks.
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Uzbekistan receives $7.5 million grant from World Bank for emissions reduction
Uzbekistan has become the first country to receive a payment from the World Bank for reducing carbon emissions through a policy crediting program. The Innovative Carbon Resource Application for Energy Transition (iCRAFT) project was designed to support Uzbekistan in implementing energy efficiency measures, phasing out energy subsidies, and transitioning to cleaner energy sources.
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World Bank approves $120 million financing package for Chad's social protection
The World Bank has approved $100 million in International Development Association (IDA) financing for Chad, supplemented by an additional $20 million from the Sahel Adaptive Social Protection Program, a multi-donor trust fund. This funding aims to enhance access to social safety nets for poor and vulnerable populations, including refugees, and to strengthen Chad's social protection system.
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IMF announces Madagascar as first beneficiary of Enhanced Cooperation Framework
WASHINGTON, June 21, 2024 – The World Bank Group (WBG) and International Monetary Fund (IMF) announced that the Enhanced Cooperation Framework for Climate Action is now operational. Madagascar will be the first country to benefit from the Framework under the Resilience and Sustainability Facility (RSF) arrangement approved today by the IMF Executive Board, alongside active WBG engagement on climate change in the country.
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World Bank approves $900 million funding package for Bangladesh
The World Bank's Board of Executive Directors has approved two projects totaling $900 million to aid Bangladesh in bolstering fiscal and financial sector policies, as well as enhancing urban infrastructure and management for sustainable and climate-resilient growth.
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Somalia anticipates 3.1% GDP growth amid improved weather conditions
Somalia's economy is projected to grow by 3.1 percent in 2023, an increase from the 2.4 percent growth seen in 2022. This recovery has been attributed to improved weather conditions and policy reforms implemented by the government aimed at reaching the Heavily Indebted Poor Countries (HIPC) Completion Point.
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World Bank Group launches academy to enhance global development expertise
A new World Bank Group (WBG) platform, the WBG Academy, aims to equip future leaders with development expertise to help them realize their countries’ full potential. As a key component of the Bank Group’s efforts to transform its approach to knowledge, the Academy will deliver programs that enhance engagement among government, development practitioners, Bank Group staff, and other stakeholders. The goal is to share knowledge, learn from experience, and identify actions needed to solve difficult development challenges.
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Solar power expands electricity access in rural Malawi
Lilongwe – As the sun sets in most villages in Malawi, darkness brings anxiety for many, particularly school-going children. Only 23% of Malawi’s population has access to electricity. Many households rely on battery-powered torches, candles, and kerosene lamps for lighting. This struggle impacts daily life, security, and food preparation.
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World Bank approves $275 million credit for Cambodia's economic growth
The World Bank Board of Directors approved $275 million in credit to support Cambodia’s efforts to promote long-term economic growth and resilience. The financing, sourced from low-interest International Development Association funds for developing countries, aims to enhance private sector competitiveness, strengthen the country's fiscal position, and provide assistance to the most vulnerable populations.