The World Bank
Recent News About The World Bank
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Nepal's YETI project aids thousands with temporary employment
Usha Bhujel resides in Rainas Municipality in Lamjung of Gandaki Province. Originally from Gorkha, Usha moved to Lamjung with her husband after marriage. Married at 19, she worked in agriculture, growing seasonal vegetables and other crops on her family's land. Her husband worked abroad as a security guard before returning due to the COVID-19 pandemic.
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Nepal's youth find purpose through Youth Employment Transformation Initiative
Gujri Devi Ban is from Aurahi Rural Municipality, Dhanusha, in Nepal’s Madhesh Province. She has been part of the temporary employment program under the Youth Employment Transformation Initiative (YETI) Project since 2021. She is currently employed in the construction and maintenance of gardens around the Aurahi Rural Municipality offices.
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World Bank launches enterprise survey in Malaysia for B-READY project
The World Bank’s Enterprise Analysis Unit is currently collecting data to gather feedback from private sector enterprises on the state of the business environment among firms in Malaysia. This initiative is part of the World Bank Enterprise Surveys and will run from March to November 2024.
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Nepalese cities transform with IDA-backed urban governance initiative
Far from the bustling streets of Kathmandu, Nepal’s federal capital, a quiet revolution is transforming secondary cities across the country. This transformation is led by local governments as they take charge of their development agendas under the federal structure introduced in 2017.
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World Bank report highlights steps for reducing poverty sustainably in Bangsamoro
Maintaining peace, supported by increasing farm profitability, diversifying income sources, enhancing access to basic social services, and upgrading infrastructure will accelerate poverty reduction in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), according to the World Bank’s Philippines Economic Update released today.
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World Bank approves $400 million project for environmental reform in Dominican Republic
The World Bank has approved a new project to assist the Dominican Republic in promoting key institutional reforms for climate resilience, reducing water, soil, and air pollution, and enhancing natural resource protection. The US$400 million project aims to strengthen the government's institutional and financial capacity for environmental protection, with positive effects on public health and the livelihoods of communities involved in tourism and fishing activities.
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West African nations combat coastal erosion through collaborative efforts
When the powerful waves crashed onto the shores of Aného, Togo, and Grand Popo, Benin in April 2024, communities of these neighboring West African border towns were unfazed. Seeking relief from the hot sun, they gathered under coconut trees to enjoy the fresh sea breeze.
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World Bank reports slight economic improvement for Cambodia driven by export revival
Cambodia's economic activity showed signs of improvement in the first quarter of 2024, driven by a resurgence in services and goods exports, despite weak domestic demand, according to the World Bank's Cambodia Economic Update released today.
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World Bank extends PROBLUE Ocean Trust Fund through 2030
Global demand for blue economy initiatives is soaring, prompting PROBLUE to seek additional funding to support countries and regions in their development efforts.
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Youth entrepreneurship programs foster job creation in Mozambique
Gaspar Sitóe, a young man from southern Mozambique, aspired to become an entrepreneur and create a clothing brand marketed through the tertiary industry. However, he lacked the necessary skills to start his venture. This changed in 2022 when he was selected for Agora Emprega, a World Bank-supported program designed to aid young entrepreneurs with grants and mentorship opportunities.
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World Bank outlines strategies for sustained growth in Zambia
LUSAKA, June 6, 2024 – While Zambia’s economy is still recovering from the COVID-19 pandemic and a previous recession, a new Country Economic Monitor (CEM) report shows pathways that can support the country’s productivity to enhance economic transformation, create better jobs, and deliver sustained and inclusive growth.
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World Bank finds gaps in post-issuance reporting among emerging market green bond issuers
Washington, June 6, 2024: A new study by the World Bank, "Trends in Allocation and Impact Reporting: Ensuring Transparency in Emerging Market Sovereign Green, Social, and Sustainability Bonds," has found that emerging market sovereign issuers are publishing allocation and impact reports following the issuance of green, social, and sustainability (GSS) bonds. However, there is room for improvement to meet investor expectations. The report is based on a comprehensive analysis of GSS bond allocation and impact reports combined with surveys of public debt management offices and...
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Indonesian social forestry program empowers communities while protecting rainforests
Indonesia's tropical forests are a vital source of food, fuel, shelter, and employment for more than one-fifth of the country's population and a crucial resource in the fight against climate change. However, many communities that rely on the world’s third-largest tropical rainforest face economic challenges, including elevated poverty rates and limited opportunities to develop surrounding land.
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Kenya's economy grows despite challenges: World Bank report
Nairobi, June 5, 2024 — Kenya’s real GDP growth accelerated to 5.6% in 2023, surpassing the previous year’s growth of 4.9%. However, GDP growth in 2024 is expected to slow down to 5.0%, according to the latest Kenya Economic Update (KEU) launched today. The report attributes the 2023 growth to the recovery of the agriculture sector following improved weather conditions and significant contributions from tourism and financial services within the services sector.
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Philippines urged by World Bank: strengthen climate resilience for sustainable growth
The Philippines needs to intensify steps to bolster community resilience against the effects of climate change and extreme weather to minimize economic disruption and sustain inclusive growth, according to the World Bank’s Philippines Economic Update (PEU), released today.
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Global shifts influence container port performance; Asian ports dominate rankings
The latest global Container Port Performance Index (CPPI) indicates that East and Southeast Asian ports excelled in 2023, securing 13 of the top 20 positions. The CPPI, developed by the World Bank and S&P Global Market Intelligence, is based on extensive data from over 182,000 vessel calls, 238.2 million moves, and approximately 381 million twenty-foot equivalents (TEUs) for the full calendar year of 2023.
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World Bank reports analyze global impact of government subsidies
Governments worldwide are increasingly deploying subsidies to secure supplies of vital materials and components, reduce greenhouse gas emissions, or promote advanced technology. Some of these programs can distort trade and confer an advantage on domestic producers over foreign competitors. The World Bank, in partnership with other international organizations, is collecting data and conducting analysis on the extent, types, and objectives of government subsidies as well as their effects on trade. The purpose is to advance international dialogue on how the global, rules-based...
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World Bank report highlights benefits of climate-resilient irrigation
Climate-resilient irrigation is a significant development in agriculture, enabling farmers to produce more food with less water and land. This method reduces water stress, increases crop yields, and lowers food prices, potentially feeding an additional 1.4 billion people.
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Female workforce faces hurdles but gains ground in Nepal's transport sector
Meet Tila Puri, Kamala Budamagar, and Sushma Magar, female construction workers engaged in the upgradation of the Nagdhunga-Naubise-Mugling (NNM) road corridor, a crucial connectivity and trade route within Nepal and with its neighboring countries.
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World Bank approves $40 million for Armenia's clean energy transition
The World Bank’s Board of Executive Directors has approved $40 million in support of the Enabling the Energy Transition project for Armenia. This initiative aims to assist the implementation of Armenia's Energy Sector Development Strategy to 2040, focusing on rehabilitating power transmission substations, adopting reforms to enable private financing for the transmission company, and promoting energy sector modernization and regional cooperation among emerging economies in Europe and Central Asia.