The World Bank
Recent News About The World Bank
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Romania publishes roadmap for developing offshore wind industry
The European Commission and the World Bank Group have collaborated with the Government of Romania to publish a new roadmap aimed at developing offshore wind energy in the Black Sea. The document, part of the project 'Internal energy market and energy transition in Romania,' received technical support from the European Commission’s Directorate General for Structural Reform Support (DG REFORM). The initiative was funded by the European Union through the Technical Support Instrument and implemented by the World Bank and International Finance Corporation (IFC), alongside DG...
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World Bank grants $30 million to support Zambian refugee policy
The World Bank has approved a new grant to help Zambia improve socio-economic opportunities for refugees and their host communities. The $30 million Zambia Refugee and Host Communities Project will focus on legislative reforms supporting the Government of Zambia’s 2023 Refugee Policy and invest in social and economic activities within the Meheba refugee settlement.
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Uruguay's Ceibal initiative highlights benefits of tech in education
Ceibal, Uruguay’s digital education initiative, offers valuable lessons for countries seeking to leverage technology for improved learning outcomes and educational equity. This brief explores Ceibal's journey from its initial goal of providing laptops to every student and teacher to its evolution into a comprehensive platform for educational innovation.
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World Bank Group expands partnership with IFRS Foundation on sustainability standards
The World Bank Group and the IFRS Foundation have announced their commitment to expand their partnership towards adopting sustainability standards in emerging markets and developing economies (EMDEs). This announcement was made during New York Climate Week.
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World Bank supports Serbia with EUR 25 million for innovation growth
Serbia is set to enhance its international competitiveness and accelerate economic growth by strengthening the links between scientists and innovators, supporting artificial intelligence (AI) solutions and biotechnology, and mobilizing private capital. The World Bank has approved EUR 25 million in additional financing through the Serbia Accelerating Innovation and Growth Entrepreneurship (SAIGE) Project to support these efforts.
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World Bank continues extensive support efforts for Afghan people
The World Bank Group has provided over $1.7 billion in support to the Afghan people since August 2021, focusing on service delivery for women and girls. The funds are managed outside the control of the Interim Taliban Administration (ITA).
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World Bank highlights economic benefits of nature-based tourism
Nature-based tourism is emerging as a significant driver for economic development and biodiversity conservation, according to recent findings. In areas rich in natural assets but with limited economic opportunities, nature-based tourism can create jobs and diversify rural economies. The spending by tourists on activities, transportation, food, and accommodation benefits local communities by generating jobs and income. This ripple effect extends to both poor and non-poor households.
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UN agencies collaborate with EU & World Bank Group against gender-based violence
The United Nations, European Commission, and World Bank Group have announced a joint commitment to prioritize gender equality and the eradication of violence against women and girls as part of their cooperation efforts. This initiative aligns with the 2030 Agenda for Sustainable Development.
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World Bank debars three Indian IT firms over collusive practices
The World Bank Group has announced the 15-month debarment of three India-based IT companies—Venus Softwares, Venus IT Solutions Private Limited, and Zytron Systems. This action is in response to collusive practices related to the West Bengal Institutional Strengthening of Gram Panchayats Program II in India.
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Governments urge increased investment in Latin American education at UN summit
On the sidelines of the 79th session of the United Nations General Assembly and the Summit of the Future, governments and multilateral organizations have called for increased financing for education in Latin America and the Caribbean. The Dominican Republic and Chile, supported by UNICEF, UNESCO, ECLAC, IDB, World Bank, CAF, OEI, CLADE, and Varkey Foundation, emphasized education as crucial for achieving Sustainable Development Goal 4.
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World Bank approves $1.57 billion funding package for Nigeria
The World Bank has approved three operations totaling $1.57 billion to aid Nigeria in enhancing health outcomes, dam safety, and irrigation services. The financing includes $500 million for the HOPE-GOV program, $570 million for the Primary Healthcare Provision Strengthening Program (HOPE-PHC), and $500 million for the Sustainable Power and Irrigation for Nigeria Project (SPIN).
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Uruguay advances digital transformation through e-government initiatives
Uruguay's government has made significant strides in digital transformation, particularly during the COVID-19 pandemic. Efforts to bridge the digital divide have enabled citizens to access essential services without traveling long distances, allowed rural children to continue their education from home, and helped small businesses streamline operations.
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New resources launched to measure early childhood development
The Anchor Items for the Measurement of Early Childhood Development (AIM-ECD) are tools designed to help countries assess and improve early childhood development. AIM-ECD includes two free tools: the Caregiver Report (CR) and the Child Direct Assessment (DA). These tools measure early literacy, early numeracy, executive functioning, and social-emotional development in children aged 4 to 6.
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World Bank official calls for collective action on high-integrity carbon markets
Axel van Trotsenburg, the World Bank's Senior Managing Director, addressed the need for accelerating climate action through high-integrity carbon markets in a recent speech. He acknowledged the leadership of Annette, Chris, and Rachel in the carbon market ecosystem and thanked Bloomberg Philanthropies and GFANZ for their support.
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World Bank approves $92.2 million grant for broadband expansion in Chad
The World Bank has approved a $92.2 million grant from the International Development Association (IDA) to enhance broadband connectivity and improve digital public services in Chad. The initiative, known as the Chad Digital Transformation Project, aims to bolster the institutional, strategic, legal, regulatory, and policy frameworks for internet access in Chad.
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World Bank launches $2.5 billion clean energy program in East Asia
A new World Bank program aims to help developing countries in East Asia and the Pacific increase their renewable energy capacity. The $2.5 billion initiative is part of a global effort to accelerate the transition to low-carbon energy and combat climate change.
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IMF and World Bank host high-level retreat for Bretton Woods at 80 Initiative
As part of the Bretton Woods at 80 Initiative, the International Monetary Fund (IMF) and the World Bank Group will host a high-level retreat in Bretton Woods, New Hampshire, on September 26-27, 2024.
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Mongolia continues push for gender equality amid ongoing challenges
ULAANBAATAR, September 24, 2024 — Despite significant equality reforms over recent years, women in Mongolia continue to face impediments to equal participation that could see past progress recede.
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World Bank approves $80 million to improve higher education in Cambodia
The World Bank's Board of Executive Directors has approved $80 million in financing to support Cambodia’s efforts to enhance the quality of higher education and research, particularly in the fields of science, technology, engineering, and mathematics (STEM). The funding for this initiative comes from the International Development Association (IDA), which is the World Bank’s concessional lending arm for low-income countries.
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World Bank highlights steps needed to boost Polish economy
A new World Bank report emphasizes that productivity growth through faster technological adoption, labor market reforms, and a smart industrial strategy aligned with green ambitions is crucial for Poland's economic competitiveness. This must be coupled with increased social inclusion as the country faces challenges such as an aging population and the costs of delayed decarbonization.