The World Bank
Recent News About The World Bank
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World Bank approves $110 million loan for Sergipe's fiscal sustainability initiative
The World Bank Board of Directors has approved a US$110 million loan to support the state of Sergipe, Brazil. This project aims to strengthen fiscal sustainability and improve natural resource management in Sergipe, Brazil's smallest state by geographic area. The initiative addresses significant development challenges faced by the state, including low GDP per capita and high poverty rates.
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World Bank forecasts Vietnam's economy to grow by 6.1% in 2024
Viet Nam’s economic growth is expected to accelerate in 2024, driven by a rebound in manufactured exports, tourism, and recovering consumption and business investment, according to a new report by the World Bank.
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Vietnam leads global effort with innovative carbon program
For Nguyen Tham, Bach Ma National Park in Hue Province is his life. It holds his childhood memories, sustains his family, and is where he works as a forest guardian.
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Report highlights challenges faced by refugees and host communities in Kenya
Nairobi, August 21, 2024 – Kenya has made significant progress in developing a policy framework aimed at refugee and host community self-reliance, but challenges remain in accessing services and improving welfare. This is according to a new report titled "Building Evidence to Enhance the Welfare of Refugees and Host Communities in Kenya," which underscores the urgency of addressing immediate, mid-term, and long-term needs of both groups.
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World Bank raises $6.5 Billion in record-breaking sustainable development bond issuance
The World Bank has raised USD 6.5 billion through a dual-tranche Sustainable Development Bond transaction, marking its largest order book to date. The transaction included a USD 3 billion 2-year bond maturing in August 2026 and a USD 3.5 billion 10-year bond maturing in August 2034.
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World bank mobilizes €2.5 billion for sustainable development from globally diversified investors
The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) has priced a EUR 2.5 billion 7-year euro-denominated benchmark bond maturing in August 2031. The transaction attracted over 75 orders totaling almost EUR 4 billion from European and global investors seeking safe and liquid investment opportunities with a positive impact on sustainable development.
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World Bank issues $225M Amazon reforestation-linked outcome bond
The World Bank (International Bank for Reconstruction and Development, IBRD) has issued the Amazon Reforestation-Linked Outcome Bond, a USD 225 million bond aimed at supporting reforestation activities in the Amazon. Priced on August 13, 2024, and due July 31, 2033, this nine-year bond links investors’ financial returns to measurable development outcomes.
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World Bank to advise Bulgaria on roads infrastructure development
The Bulgarian Road Infrastructure Agency (BRIA) will receive strategic advice from the World Bank over the next 30 months through a Reimbursable Advisory Services Agreement. The agreement was signed today by Yordan Valchev, Chairman of BRIA’s Management Board, and Lasse Melgaard, World Bank Resident Representative for Bulgaria, Czechia, and Slovakia.
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IDB joins forces with World Bank & CAF for security policies
Guayaquil, August 19, 2024. The Inter-American Development Bank (IDB), the World Bank, and CAF—development bank of Latin America and the Caribbean—have agreed to collaborate more closely to generate knowledge and support public policies related to transnational organized crime in Latin America and the Caribbean.
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World Bank approves $10 million wastewater project in Sint Maarten
Washington, D.C., August 19, 2024 - The Government of Sint Maarten, the National Recovery Program Bureau, and the World Bank have signed a $10 million agreement aimed at improving water quality and quantity in Sint Maarten. An additional $15 million will be financed by the Government of Sint Maarten through a co-financing loan from the Government of the Netherlands.
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Bangladesh integrates Japanese expertise to enhance flood resilience
Bangladesh, recognized as one of the most vulnerable countries to climate change and among the most disaster-prone, is experiencing an increasing number of people affected by frequent and intense floods. These events disproportionately impact the poorest populations, causing significant damage to property and livelihoods while disrupting children's education.
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Junior analyst aids $100M bond initiative targeting plastic pollution
Federico, a Junior Analyst at the World Bank, shared insights into his background and involvement in tackling plastic pollution through innovative financial instruments. Born in Italy, Federico studied economics and finance at Bocconi University before interning at the World Bank Treasury. He later joined the Structured Finance and Market Solutions Team within the Capital Markets Department.
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World Bank addresses inaccuracies in media reports about Iran Economic Monitor
Media reports have recently made false claims about a World Bank report on Iran’s economy.
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World Bank reports gradual recovery for Congolese economy amid ongoing challenges
BRAZZAVILLE, August 13, 2024 – A new World Bank report released today indicates that the Congolese economy is gradually recovering, with GDP growth estimated at 1.9% in 2023. Growth is projected to reach 3.5% in 2024, supported by oil and non-oil activities expected to increase by 4.2% and 3.5%, respectively. The recovery remains fragile due primarily to the volatility of oil production.
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Investors back record-breaking $225 million World Bank outcome bond for Amazon reforestation
An increasing number of private investors are supporting outcome bonds that link financial returns to measurable and impactful development outcomes. The World Bank (International Bank for Reconstruction and Development, IBRD) has priced a 9-year USD 225 million principal-protected Amazon Reforestation-Linked Bond, marking the largest World Bank outcome bond ever issued. This bond offers investors a coupon with both a fixed guaranteed component and a variable component tied to the generation of Carbon Removal Units (CRUs) from reforestation projects in Brazil's Amazon rainforest.
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New model aims at accelerating Amazon reforestation efforts
Investing in forests is investing in people, economies, and the health of our planet. The World Bank estimates that the Amazon rainforest regions of Brazil provide USD 317 billion of economic value annually for the communities that live there. The Amazon also benefits the world as a whole, representing more than half of the planet’s remaining tropical forest and serving as one of the world’s largest carbon sinks. The Brazilian regions alone provide a theoretical annual value of USD 210 billion to the planet. While deforestation in the Brazilian Amazon has slowed in recent...
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World Bank launches council to tackle global jobs crisis
The World Bank Group today announced the launch of the High-Level Advisory Council on Jobs, a new initiative aimed at identifying actionable policies and programs to address the looming jobs crisis in the Global South.
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World Bank approves $55 million credit for modernization of Peru's National Social Registry
The World Bank’s Board of Executive Directors has approved a credit for Peru to modernize its National Social Registry (SINAFO), focusing on the social household registry. The project aims to create an integrated social policy information system that is inclusive, dynamic, and interoperable, suitable for both regular programs and emergency responses.
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World Bank approves $500 million loan to support Peru's economic reforms
The World Bank’s Board of Executive Directors has approved a loan to assist Peru in achieving a more efficient fiscal policy and a productive economy adapted to climate change. This initiative is aimed at helping the country progress toward OECD accession.
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Indigenous women from Bolivia advocate against poverty at global stage
In the bustling city of El Alto, Bolivia, where the Aymara and Quechua cultures converge, two women, Roxana Quispe and Emma Poma, have dedicated their lives to fighting poverty and promoting the rights of indigenous people. Their journey from poverty to empowerment is a testament to resilience, community, and inclusive development.