The World Bank
Recent News About The World Bank
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World Bank Group appoints Radi Anguelova as Vice President for Human Resources
The World Bank Group has announced the appointment of Radoslava “Radi” Anguelova as Vice President for Human Resources, effective immediately. The announcement was made by World Bank Group President Ajay Banga on July 30, 2024.
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World Bank appoints Sangbu Kim as first VP for digital transformation
World Bank Group President Ajay Banga announced today the appointment of Sangbu Kim as the World Bank’s first Vice President for Digital Transformation.
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World Bank appoints Tania Meyer as new country manager for Cambodia
Phnom Penh, July 29, 2024—The World Bank has appointed Tania Meyer as its new Country Manager for Cambodia.
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Efforts bolster food security amid desert locust crisis in South Sudan
Desert locusts are the most destructive migratory agricultural pests globally, with a small swarm capable of consuming as much food in one day as 35,000 people. The upsurge that began affecting South Sudan in April 2020 was driven by climate change and conflict. Two cyclones hit the Arabian Peninsula in 2018, preventing effective swarm control due to ongoing conflicts in Yemen and Somalia. By April 2020, 23 countries were affected. Swarms reached South Sudan in March 2020, damaging over 20,000 hectares of crops; insecurity and COVID-19 restrictions prevented a full damage...
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World Bank approves $600 million for Türkiye's earthquake recovery
The World Bank Board has approved $600 million in financing to support the revival of micro enterprises destroyed or severely damaged by the earthquakes that struck Türkiye in February 2023.
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World Bank approves $150 million boost for Azerbaijan's employment support program
The World Bank’s Board of Executive Directors has approved an additional $150 million in financing to expand the ongoing Azerbaijan Employment Support Project (AESP). The project aims to assist vulnerable populations, particularly internally displaced persons, women, youth, and the long-term unemployed, by promoting self-employment opportunities.
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World Bank supports Serbia's real estate management with $32.5M loan
The World Bank’s Board of Executive Directors has approved a EUR30 million ($32.5 million equivalent) loan for the Second Real Estate Management Project, aimed at enhancing Serbia's real property management systems.
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Pilot program launched in Lebanon supports economic empowerment for low-income households
BEIRUT, July 25, 2024 – The Ministry of Social Affairs, the René Moawad Foundation, and the World Bank launched today the Productive Economic Inclusion in Lebanon (PEIL) program. This pilot initiative aims to improve the livelihoods of 1,500 low-income Lebanese households who are current beneficiaries of the Emergency Social Safety Net Program (ESSNP). Funded by a $2.7 million grant from the Japan Social Development Fund, the PEIL program complements the ESSNP by providing services aimed at enhancing household income, welfare, and resilience.
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World Bank highlights women's empowerment in Sub-Saharan Africa
Saying that women are vital to ending poverty is particularly relevant in Sub-Saharan Africa. Despite the devastating social and economic effects of the COVID-19 pandemic, women in Western and Central Africa have been challenging norms and stereotypes.
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Mauritania's economy shows resilience amid global challenges but faces long-term structural issues
Nouakchott, July 26, 2024 – Despite a slowdown in economic growth in 2023, lower inflation and improved fiscal and external balances have helped strengthen Mauritania's macroeconomic stability. Although growth has moderated, it remains above the global average and that of Sub-Saharan Africa.
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World Bank releases economic update on Mauritania’s slowdown
NOUAKCHOTT, July 26, 2024 - The World Bank has released the seventh edition of its Economic Update for Mauritania, highlighting a slowdown in economic growth in 2023 despite strengthened macroeconomic stability.
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World Bank approves €599.1 million loan for green growth in Romania
The World Bank Group Board of Executive Directors approved a Development Policy Loan (DPL) for Romania amounting to €599.1 million. The Romania Fiscal Management and Green Growth DPL aims to strengthen the country's fiscal framework, promote green and inclusive growth, and stimulate private-sector investment.
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Malawi faces economic hurdles amid drought; urgent reforms needed
LILONGWE, July 25, 2024 – A drought and an incomplete reform agenda are undermining prospects for a rapid economic recovery in Malawi. Economic growth in Malawi fell short of expectations in 2023 and is projected to remain subdued in 2024. While the implementation of planned macroeconomic and structural reforms is expected to boost GDP growth over the medium term, an El Niño-induced drought has worsened the near-term growth outlook. The drought has compounded longstanding macroeconomic imbalances, with large fiscal deficits, balance-of-payments challenges, unsustainable debt,...
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Community efforts revive abandoned center near Valle Nuevo National Park
At the border of Valle Nuevo National Park in the Dominican Republic, an abandoned community center known as “Las Golondrinas” stands as a testament to unfulfilled aspirations. Named after the endemic bird species residing in the park, the center was built in 2010 to foster social connections and promote conservation efforts for Valle Nuevo National Park.
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World Bank urges urgent reforms for Malawi's economic stability
Malawi's current economic challenges necessitate a blend of immediate response measures and urgent reforms to address longstanding macroeconomic imbalances, including persistent fiscal deficits, balance-of-payments issues, unsustainable debt, and price instability. These factors have significantly impacted the country's economy in recent years, according to the latest World Bank Malawi Economic Monitor (MEM).
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World Bank highlights circular economy potential in Central Asia
The World Bank has released a new report titled "Circular Economy as an Opportunity for Central Asia," highlighting the potential benefits of adopting circular economy principles in the region. The report outlines three action plans focused on construction, agri-food, and urban management sectors, based on case studies from Kazakhstan and Uzbekistan.
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US commits $667M; Germany pledges $54M towards pandemic fund goal
The United States has pledged up to $667 million and Germany has committed $54 million to the Pandemic Fund, aiming to raise at least $2 billion to address high demand from low- and middle-income countries. This announcement was made on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting in Rio de Janeiro.
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World Bank commits as lead knowledge partner in G20 Global Alliance Against Hunger
Poverty and hunger are intertwined and impacted by many challenges that have far-reaching consequences if left unaddressed.
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World Bank announces new initiatives targeting global hunger
The World Bank Group today unveiled a comprehensive package of initiatives to address urgent poverty and hunger, aiming to enable vulnerable populations to increase earnings, enhance resilience against climate shocks, and promote empowerment for women and girls.
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World Bank announces new partnership framework with Cameroon focusing on jobs and service delivery
WASHINGTON, July 23, 2024 – The World Bank Group (WBG) has announced a new Country Partnership Framework (CPF) for Cameroon, focusing on creating more and better jobs and enhancing effective and inclusive service delivery institutions. This initiative will also pay special attention to climate and fragility issues.