The World Bank
Recent News About The World Bank
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Public Institutions Data and Analytics Global Unit enhances governance through strategic data initiatives
The Public Institutions Data and Analytics Global Unit is responsible for enhancing the use of data and analytics in governance and institutional topics. It provides strategic support for cross-cutting engagements with a focus on how data and evidence can improve the functioning of public institutions. The unit delivers on three main programs: global trends in governance, country-level data and analytics, and climate change and institutions, including the political economy of climate change.
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World Bank partners with Japan on $2.76M project benefiting farmers
SAN SALVADOR, July 23, 2024—The World Bank, Japan, and El Salvador are collaborating on a project to improve market access, food security, and dietary diversity in the El Bálsamo mountain range in La Libertad department. This initiative will directly benefit 6,250 farming families and will be implemented by Catholic Relief Services (CRS) of El Salvador.
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Trends show fragile states receive less climate adaptation funding
Global funds supporting climate adaptation are essential for low-income countries, particularly those experiencing fragility and conflict. Countries on the World Bank’s Fragile and Conflict-affected Situations (FCS) list are notably underserved in terms of adaptation finance from international funders. The scale and nature of this financing gap remain unclear, as does the allocation of adaptation finance across different fragile and conflict-affected settings.
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World Bank reaffirms support to South Africa & Namibia amid developmental progress
A delegation of the World Bank Group’s (WBG) Board of Executive Directors (EDs) has noted South Africa’s and Namibia’s progress in achieving their development goals and reaffirmed the World Bank Group's commitment to providing support. The 11 EDs and Alternate EDs were hosted by the World Bank and International Finance Corporation (IFC) country offices during their visit from July 7-13.
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World Bank notes steady progress but calls for continued reform in Ghana
ACCRA, July 22, 2024 - The World Bank’s 8th Economic Update for Ghana, titled "Strengthening Domestic Revenue Systems for Fiscal Sustainability," indicates that despite recent increases in exchange rate depreciation and slower-than-expected inflation reduction, Ghana’s economic indicators remain on track for 2024 and beyond.
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Algeria moves up income classification amid modernization efforts
The most recent example of this was seen in the release of the World Bank's annual income classification report on July 1, 2024. Algeria was one of only four countries worldwide that moved across the threshold from a lower-middle-income to upper-middle-income classification. The remarkable aspect of this shift for Algeria is that it was primarily due to a modernization of systems to overhaul statistical capacity, which allowed a more accurate measure of the country’s GDP. While the Algerian economy grew by 4.1% in 2023, the main driver of the upward reclassification was a...
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World Bank approves $21M for financial stability and climate resilience in Marshall Islands
The World Bank’s Board of Executive Directors has approved a new support package aimed at strengthening fiscal management and enhancing disaster and climate resilience in the Republic of the Marshall Islands (RMI). The initiative, valued at US$21 million in grants, seeks to address long-term challenges posed by climate change, population decline, and a limited private sector.
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Bosnia marks three decades of partnership with World Bank
Since 1993, the World Bank Group has been a partner to Bosnia and Herzegovina, fostering a lasting collaboration. Bosnia and Herzegovina has witnessed the benefits of international development support, enabling it to achieve upper-middle-income status. Today, the World Bank Group and Bosnia and Herzegovina remain dedicated to advancing the economy, enhancing living standards, and supporting the country’s aspirations to join the European Union.
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New program launched for rural land transformation in Côte d'Ivoire
The government of Côte d’Ivoire and the World Bank have officially launched the Rural Land Tenure Management Strengthening Program (PRESFOR) in Guiglo, located in the Cavally region. PRESFOR, implemented by the Rural Land Agency (AFOR), supports the $200 million National Rural Land Registration Program across 16 of the country’s 31 regions, focusing on efficiency, inclusiveness, and social cohesion.
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Moroccan economy shows resilience amid global challenges but faces internal hurdles
RABAT, July 18, 2024 — Despite various obstacles, including a slowdown in the global economy, an inflation shock, and the Al Haouz earthquake, the Moroccan economy has shown resilience and accelerated with real output increasing by 3.4 percent in 2023, according to the World Bank's latest economic monitor for the country.
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Uzbekistan empowers villages through community-driven development projects
Nearly half of Uzbekistan’s 37 million population resides in rural areas, where access to clean drinking water, quality healthcare services, and education outcomes are often limited. These disparities particularly affect women and children.
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Morocco's economy grows despite challenges; private sector faces productivity issues
The Moroccan economy expanded by 3.4% in 2023 despite global economic headwinds, an inflation surge, and the Al-Haouz earthquake. Growth was propelled by a tourism rebound, strong manufacturing exports, and increased private consumption, supported by sound macroeconomic policies. Foreign direct investment (IDA) inflows grew, and the current account deficit shrank to its lowest since 2007. Challenges remain, with per capita consumption just reaching pre-pandemic levels and a new social aid program to assist vulnerable households. Growth is expected to slow to 2.9% in 2024,...
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Western Balkan economies urged to invest $37B in climate resilience
VIENNA, July 17, 2024 – The six economies of the Western Balkans need to collectively invest at least $37 billion over the next decade to effectively protect people and property from the damaging impacts of climate change, according to the World Bank Group’s Western Balkans regional Country Climate and Development Report (CCDR), released today.
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Uganda combines economic ecological advancement amid pandemic pressures
When the COVID-19 pandemic impacted global economies in early 2020, Uganda's forests and national parks faced increased pressure from illegal extraction as nearby communities struggled to sustain their livelihoods. The tourism sector, which had been growing, came to a halt, reducing funds for conservation activities.
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India's drive towards becoming a global business destination through enhanced logistics
An efficient logistics sector is pivotal for India to become a globally preferred business destination. It reduces manufacturing costs, makes businesses more competitive, and links them with global value chains, boosting the Make in India initiative. The sector is also one of India’s largest employers, employing over 22 million people.
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Western Balkans report outlines $69 billion investment plan for climate neutrality by 2050
The Western Balkans 6 Country Climate and Development Report (CCDR) examines how the region can enhance climate adaptation and reduce greenhouse gas emissions while continuing to meet broader development goals. This comprehensive report covers six economies of the Western Balkans: Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia.
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Tajikistan's robust growth tempered by structural challenges
The Tajikistan Economic Update is an annual report that analyzes recent economic developments, prospects, and policy issues in Tajikistan.
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Key highlights from CPIA Africa report on structural reforms
The Country Policy and Institutional Assessment (CPIA) for Africa is an annual diagnostic tool for Sub-Saharan African (SSA) countries eligible for financing from the International Development Association (IDA), a part of the World Bank that assists low-income countries by providing grants and low to zero-interest loans. The CPIA Report aims to capture the quality of each country’s policies and institutional arrangements, focusing on elements within the country’s control. The scores assess sustainable growth and poverty reduction supported through existing frameworks.
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Tanzania's integrated justice centers improve access for women and families
DAR ES SALAAM, July 16, 2024 — Fatuma Mbaruku, a 38-year-old mother of four, traveled from Azimio to the Temeke Integrated Justice Center to file for custody and support for her children following her 2023 divorce.
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Caribbean institute launches platforms to boost environmental sustainability
Port of Spain, 28 June 2024 – In 2023, the Caribbean Natural Resources Institute (CANARI) launched two online platforms aimed at enhancing environmental stewardship and sustainable development efforts across the Caribbean. The Caribbean Resilience Knowledge Platform and the Caribbean Local Green-Blue Enterprises (LGEs) Knowledge Platform serve as dynamic hubs for individuals, communities, and organizations to share knowledge, ideas, and solutions.