The World Bank
Recent News About The World Bank
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World Bank outlines policy recommendations for Mongolia's sustainable development vision
The World Bank Group has prepared a series of Policy Notes to address a range of issues and provide actionable recommendations for Mongolia's new government, formed in July 2024. These notes aim to assist the government in diversifying and strengthening national assets beyond the mining sector to meet the country's sustainable and green development goals, as outlined in Mongolia’s Vision 2050 and New Recovery Policy objectives.
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World Bank delegation emphasizes strong development engagement during visit to Haiti
Port-au-Prince, Haiti, 30 August 2024 — Director for the World Bank’s International Development Association (IDA) Resource Mobilization, Dirk Reinermann, completed a three-day visit to Haiti on Friday, August 30. During the visit, priorities of the new administration were discussed and the World Bank’s commitment to continue fighting against extreme poverty in Haiti was underscored.
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World Bank announces $415 million aid for Ukrainian education amid ongoing conflict
WASHINGTON, August 30, 2024—A new $415 million education program to improve primary and secondary education in Ukraine will reach one million students, teachers, and school staff, the World Bank announced today.
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World Bank warns against fraudulent scheme in DR Congo
KINSHASA, August 30, 2024: Following recent reports linking an entity calling itself "Pan-African Investment Program" to the World Bank in the Democratic Republic of Congo, the World Bank is warning the general public of ongoing scams. This entity claims to be recruiting local companies for a project to "build ten schools per province," falsely associated with World Bank financing.
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Digital technology's role in transforming global food systems
The global food system faces significant challenges, with inefficiencies and waste prevalent despite increased output. Abundance and hunger coexist, highlighting a core issue: unequal access to information among farmers and within markets. These inflexible systems result in high transaction costs.
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World Bank highlights gaps in climate finance among emerging market banks
WASHINGTON, August 29, 2024 — In almost 60% of banks in Emerging Market and Developing Economies (EMDEs), lending for climate-related investment accounts for less than 5% of their overall portfolios, and more than one-quarter offer no climate financing at all, according to a new World Bank report.
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World Bank aids Batken region in post-conflict recovery
Баткенская область Кыргызской Республики, расположенная на юго-западе страны и граничащая с Таджикистаном и Узбекистаном, известна своими горными пейзажами и культурным разнообразием. Однако этот регион остается малоразвитым и сталкивается с серьезными вызовами, особенно после конфликта вдоль кыргызско-таджикской границы в сентябре 2022 года. Конфликт привел к гибели десятков людей и разрушению объектов социальной инфраструктуры, таких как школы, детские сады и медицинские учреждения. Этот кризис значительно повлиял на местных жителей, нарушив процесс обучения и ограничив...
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World Bank aids Kyrgyz Republic's post-conflict recovery
The Kyrgyz Republic’s Batken region, located in the country’s southwest and bordering both Tajikistan and Uzbekistan, is celebrated for its mountainous landscapes and rich cultural diversity. However, this remote area remains underdeveloped and has faced significant challenges, particularly following conflict along the Kyrgyz-Tajik border in September 2022, which claimed dozens of lives and caused damage, destruction, and closure of public infrastructure like schools, kindergartens, and health clinics. This significantly impacted local children and families, disrupting...
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World Bank calls for better-targeted agricultural subsidies
The bulk of government support to agriculture provides short-term benefits that are often at the cost of long-term outcomes for people, economies, and the planet. Globally, agriculture receives more than $700 billion a year in public support. Much of this is poorly targeted: each subsidized dollar farmers receive generates only 35 cents in additional output. Agricultural policies play a critical role in the development of resilient food supply chains. But many policies create incentives that favor unsustainable production, increasing emissions, accelerating land degradation,...
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Mobilizing capital for development in agriculture
Transforming food systems to reduce carbon emissions and achieve the Sustainable Development Goals requires a significant increase in investment across the agricultural value chain. Large, coordinated flows of public and private capital are needed to address decades of underinvestment and meet current and future challenges.
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Upcoming Finance and Prosperity Report 2024 offers critical insights
Discover the critical insights of the upcoming Finance and Prosperity Report 2024 through these compelling interactive graphs. Engage with these visualizations to explore the data, understand the trends, and gain valuable insights into the future of finance and prosperity.
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World Bank emphasizes resilience in global food security amid climate challenges
Food and nutrition security crises are expected to persist in the coming years. While it is impossible to avoid shocks, especially with the intensification of climate change, their impacts can be mitigated to prevent significant setbacks in achieving long-term development goals. This necessitates improved preparedness for swift responses when crisis risks first appear and bolstering innovative efforts to construct resilient food and nutrition systems globally.
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Kinshasa adopts nature-based solutions to tackle urbanization challenges
Kinshasa, the capital city of the Democratic Republic of the Congo, is experiencing rapid urban growth, expanding by approximately 2,000 people and five hectares daily. This expansion has led to significant challenges, including flooding, soil erosion, and increased temperatures due to the replacement of green spaces with concrete and metal structures.
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World Bank approves $110 million loan for Sergipe's fiscal sustainability initiative
The World Bank Board of Directors has approved a US$110 million loan to support the state of Sergipe, Brazil. This project aims to strengthen fiscal sustainability and improve natural resource management in Sergipe, Brazil's smallest state by geographic area. The initiative addresses significant development challenges faced by the state, including low GDP per capita and high poverty rates.
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World Bank forecasts Vietnam's economy to grow by 6.1% in 2024
Viet Nam’s economic growth is expected to accelerate in 2024, driven by a rebound in manufactured exports, tourism, and recovering consumption and business investment, according to a new report by the World Bank.
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Vietnam leads global effort with innovative carbon program
For Nguyen Tham, Bach Ma National Park in Hue Province is his life. It holds his childhood memories, sustains his family, and is where he works as a forest guardian.
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Report highlights challenges faced by refugees and host communities in Kenya
Nairobi, August 21, 2024 – Kenya has made significant progress in developing a policy framework aimed at refugee and host community self-reliance, but challenges remain in accessing services and improving welfare. This is according to a new report titled "Building Evidence to Enhance the Welfare of Refugees and Host Communities in Kenya," which underscores the urgency of addressing immediate, mid-term, and long-term needs of both groups.
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World Bank raises $6.5 Billion in record-breaking sustainable development bond issuance
The World Bank has raised USD 6.5 billion through a dual-tranche Sustainable Development Bond transaction, marking its largest order book to date. The transaction included a USD 3 billion 2-year bond maturing in August 2026 and a USD 3.5 billion 10-year bond maturing in August 2034.
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World bank mobilizes €2.5 billion for sustainable development from globally diversified investors
The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) has priced a EUR 2.5 billion 7-year euro-denominated benchmark bond maturing in August 2031. The transaction attracted over 75 orders totaling almost EUR 4 billion from European and global investors seeking safe and liquid investment opportunities with a positive impact on sustainable development.
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World Bank issues $225M Amazon reforestation-linked outcome bond
The World Bank (International Bank for Reconstruction and Development, IBRD) has issued the Amazon Reforestation-Linked Outcome Bond, a USD 225 million bond aimed at supporting reforestation activities in the Amazon. Priced on August 13, 2024, and due July 31, 2033, this nine-year bond links investors’ financial returns to measurable development outcomes.