The World Bank
Recent News About The World Bank
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Supporting indigenous communities vital for Nepal's sustainable forestry
Nepal, endowed with approximately 6.4 million hectares of forest resources, has seen a significant increase in its forest cover from 26 percent to 45 percent between 1992 and 2016. This progress is largely attributed to the country's sustainable community-based forest management practices.
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World Bank approves $30 million for sanitation projects in Ghana
The World Bank has approved $30 million from the International Development Association (IDA) for the Greater Accra Metropolitan Area Sanitation and Water Project (GAMA SWP). This second additional financing aims to assist the Government of Ghana in addressing financial shortfalls caused by inflation.
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World Bank collaborates with Indigenous Peoples on new resilience framework
Indigenous Peoples have demonstrated resilience and made significant contributions to the sustainability of the planet, despite persistent threats to their peoples, cultures, and ways of life. Although they have contributed little to climate change and have made notable efforts in climate mitigation, Indigenous Peoples are disproportionately impacted by climate shocks and disasters.
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Framework highlights indigenous peoples' role in global climate resilience
When a Category 5 hurricane struck the Caribbean Coast, multiple Indigenous communities faced significant destruction. A Miskitu Indigenous leader recounted, “All I could see were fragments of what were once our homes, reduced to tiny pieces of wood.”
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World Bank launches reports on Cameroon's economy highlighting need for fiscal reforms
YAOUNDÉ, August 6, 2024 - The World Bank has launched two flagship economic reports: the 2024 Cameroon Economic Update and the Cameroon Public Finance Review.
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Anne-Lucie Lefebvre appointed as World Bank Country Manager for Haiti
Anne-Lucie Lefebvre has been appointed as World Bank Country Manager for Haiti, based in Port au Prince. In her new role, Lefebvre is responsible for leading the Bank’s dialogue with the government and working closely with key development partners and stakeholders.
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Nepal signs $100 million deal with World Bank for road improvement
KATHMANDU, August 5, 2024—The Government of Nepal and the World Bank today signed a financing agreement for a US$100 million concessional loan from the International Development Association (IDA) to improve the connectivity, efficiency, resilience, and safety of Nepal’s provincial and local road network. The project also aims to strengthen the government’s capacity to manage this infrastructure.
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Eastern Caribbean schools embrace digital transformation with World Bank support
Nestled amid Saint Lucia's lush greenery, the vibrantly colored classrooms of Vide Bouteille Primary School host over 300 young learners from kindergarten to sixth grade. Ten-year-old Ayan skillfully watches real-time scores from a math app on her tablet as they are reflected on the interactive board at the front of the room. She says she's eager to become a veterinarian.
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Leveraging international trade for sustainable growth in South Africa
International trade can be a powerful force for economic growth and poverty reduction. This report, “Unlocking South Africa’s Potential: Leveraging Trade for Inclusive Growth and Resilience,” synthesizes analytical work carried out over the last four years. It provides an overview of South Africa’s export performance over the past decade for both goods and services and discusses how trade policies and trade facilitation reforms can support robust, inclusive, and resilient economic growth in South Africa. In a changing world marked by unprecedented supply chain disruptions...
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World Bank appoints Anne Tully as new country manager for Myanmar
The World Bank has appointed Anne Tully as its new Country Manager for Myanmar, effective August 7, 2024.
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Thailand advances sustainable finance initiatives amid global trends
In the evolving landscape of sustainable finance, Thailand is actively integrating environmental, social, and governance (ESG) factors into its financial sector. Authorities and market players are making strides to align with global trends and regional standards.
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World Bank appoints Faris Hadad-Zervos as new country director for Afghanistan
WASHINGTON, August 1, 2024—Mr. Faris Hadad-Zervos has been appointed the World Bank’s new Country Director for Afghanistan, effective today.
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World Bank outlines strategies for developing nations facing "middle-income trap
New research offers a 21st century playbook for high-quality growth
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Forest management project improves livelihoods in DRC
The Democratic Republic of the Congo (DRC) faces numerous challenges and opportunities, from its vast mineral resources to its expansive forests. These forests cover two-thirds of the country and are part of the Congo Basin, which houses the world's second-largest rainforest. Over half of DRC's population lives in rural areas, relying heavily on these forests for sustenance, often at the expense of environmental health.
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World Bank approves $24 million grant for education in São Tomé and Príncipe
The World Bank Board of Directors has approved the Safeguarding Access to Fiscal and Educational Resources Project (SAFER) with a grant of $24 million from the International Development Association (IDA). This initiative aims to address the fiscal crisis in São Tomé and Príncipe, ensuring the continued delivery of education services amid ongoing challenges in the energy sector.
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World Bank approves $27 million for community-driven development in Kyrgyz Republic
The World Bank’s Board of Executive Directors has approved $27 million for the National Community Initiatives Project (NCIP) in the Kyrgyz Republic. The project aims to enhance access to socio-economic infrastructure and increase economic opportunities at the local level, with a focus on women and youth.
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Nepal's multi-donor trust fund supports significant financial management reforms
The Nepal Public Financial Management Multi-Donor Trust Fund (PFM MDTF) was established in 2010 to enhance public financial management performance, transparency, and accountability in Nepal. The MDTF has been instrumental in supporting the government’s execution of various reforms.
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World Bank launches multi-sectoral project for human capital development in Burundi
WASHINGTON, July 30, 2024 — A new World Bank-financed project focusing on nutrition, healthcare, and education aims to empower boys and girls in Burundi through improved access to quality services. The initiative is expected to benefit an estimated 13.2 million people over five years, including 1.9 million refugees and host communities.
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Albania improves rural roads through World Bank-backed initiative
Albania's road network, spanning 15,000 kilometers, serves as a lifeline for communities, facilitating trade, access to services, and connectivity. Yet lack of funding left many rural roads and regional routes outside the national highway system in disrepair, threatening public safety and impeding economic activity. For years, many remote villages faced isolation because of such dilapidated roadways.
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World Bank launches $205M initiative for climate preparedness in Comoros Madagascar Mozambique
Over six million people in Comoros, Madagascar, and Mozambique are set to benefit from a new World Bank regional program that will enhance Eastern and Southern African countries' financial preparedness to respond to climate shocks. The Regional Emergency Preparedness and Inclusive Recovery Program (REPAIR), approved today, will strengthen countries’ resilience against climate shocks and seek to attract $205 million in private capital to support these efforts in its first phase.