The World Bank
Recent News About The World Bank
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World Bank to advise Bulgaria on roads infrastructure development
The Bulgarian Road Infrastructure Agency (BRIA) will receive strategic advice from the World Bank over the next 30 months through a Reimbursable Advisory Services Agreement. The agreement was signed today by Yordan Valchev, Chairman of BRIA’s Management Board, and Lasse Melgaard, World Bank Resident Representative for Bulgaria, Czechia, and Slovakia.
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IDB joins forces with World Bank & CAF for security policies
Guayaquil, August 19, 2024. The Inter-American Development Bank (IDB), the World Bank, and CAF—development bank of Latin America and the Caribbean—have agreed to collaborate more closely to generate knowledge and support public policies related to transnational organized crime in Latin America and the Caribbean.
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World Bank approves $10 million wastewater project in Sint Maarten
Washington, D.C., August 19, 2024 - The Government of Sint Maarten, the National Recovery Program Bureau, and the World Bank have signed a $10 million agreement aimed at improving water quality and quantity in Sint Maarten. An additional $15 million will be financed by the Government of Sint Maarten through a co-financing loan from the Government of the Netherlands.
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Bangladesh integrates Japanese expertise to enhance flood resilience
Bangladesh, recognized as one of the most vulnerable countries to climate change and among the most disaster-prone, is experiencing an increasing number of people affected by frequent and intense floods. These events disproportionately impact the poorest populations, causing significant damage to property and livelihoods while disrupting children's education.
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Junior analyst aids $100M bond initiative targeting plastic pollution
Federico, a Junior Analyst at the World Bank, shared insights into his background and involvement in tackling plastic pollution through innovative financial instruments. Born in Italy, Federico studied economics and finance at Bocconi University before interning at the World Bank Treasury. He later joined the Structured Finance and Market Solutions Team within the Capital Markets Department.
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World Bank addresses inaccuracies in media reports about Iran Economic Monitor
Media reports have recently made false claims about a World Bank report on Iran’s economy.
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World Bank reports gradual recovery for Congolese economy amid ongoing challenges
BRAZZAVILLE, August 13, 2024 – A new World Bank report released today indicates that the Congolese economy is gradually recovering, with GDP growth estimated at 1.9% in 2023. Growth is projected to reach 3.5% in 2024, supported by oil and non-oil activities expected to increase by 4.2% and 3.5%, respectively. The recovery remains fragile due primarily to the volatility of oil production.
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Investors back record-breaking $225 million World Bank outcome bond for Amazon reforestation
An increasing number of private investors are supporting outcome bonds that link financial returns to measurable and impactful development outcomes. The World Bank (International Bank for Reconstruction and Development, IBRD) has priced a 9-year USD 225 million principal-protected Amazon Reforestation-Linked Bond, marking the largest World Bank outcome bond ever issued. This bond offers investors a coupon with both a fixed guaranteed component and a variable component tied to the generation of Carbon Removal Units (CRUs) from reforestation projects in Brazil's Amazon rainforest.
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New model aims at accelerating Amazon reforestation efforts
Investing in forests is investing in people, economies, and the health of our planet. The World Bank estimates that the Amazon rainforest regions of Brazil provide USD 317 billion of economic value annually for the communities that live there. The Amazon also benefits the world as a whole, representing more than half of the planet’s remaining tropical forest and serving as one of the world’s largest carbon sinks. The Brazilian regions alone provide a theoretical annual value of USD 210 billion to the planet. While deforestation in the Brazilian Amazon has slowed in recent...
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World Bank launches council to tackle global jobs crisis
The World Bank Group today announced the launch of the High-Level Advisory Council on Jobs, a new initiative aimed at identifying actionable policies and programs to address the looming jobs crisis in the Global South.
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World Bank approves $55 million credit for modernization of Peru's National Social Registry
The World Bank’s Board of Executive Directors has approved a credit for Peru to modernize its National Social Registry (SINAFO), focusing on the social household registry. The project aims to create an integrated social policy information system that is inclusive, dynamic, and interoperable, suitable for both regular programs and emergency responses.
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World Bank approves $500 million loan to support Peru's economic reforms
The World Bank’s Board of Executive Directors has approved a loan to assist Peru in achieving a more efficient fiscal policy and a productive economy adapted to climate change. This initiative is aimed at helping the country progress toward OECD accession.
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Indigenous women from Bolivia advocate against poverty at global stage
In the bustling city of El Alto, Bolivia, where the Aymara and Quechua cultures converge, two women, Roxana Quispe and Emma Poma, have dedicated their lives to fighting poverty and promoting the rights of indigenous people. Their journey from poverty to empowerment is a testament to resilience, community, and inclusive development.
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Supporting indigenous communities vital for Nepal's sustainable forestry
Nepal, endowed with approximately 6.4 million hectares of forest resources, has seen a significant increase in its forest cover from 26 percent to 45 percent between 1992 and 2016. This progress is largely attributed to the country's sustainable community-based forest management practices.
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World Bank approves $30 million for sanitation projects in Ghana
The World Bank has approved $30 million from the International Development Association (IDA) for the Greater Accra Metropolitan Area Sanitation and Water Project (GAMA SWP). This second additional financing aims to assist the Government of Ghana in addressing financial shortfalls caused by inflation.
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World Bank collaborates with Indigenous Peoples on new resilience framework
Indigenous Peoples have demonstrated resilience and made significant contributions to the sustainability of the planet, despite persistent threats to their peoples, cultures, and ways of life. Although they have contributed little to climate change and have made notable efforts in climate mitigation, Indigenous Peoples are disproportionately impacted by climate shocks and disasters.
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Framework highlights indigenous peoples' role in global climate resilience
When a Category 5 hurricane struck the Caribbean Coast, multiple Indigenous communities faced significant destruction. A Miskitu Indigenous leader recounted, “All I could see were fragments of what were once our homes, reduced to tiny pieces of wood.”
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World Bank launches reports on Cameroon's economy highlighting need for fiscal reforms
YAOUNDÉ, August 6, 2024 - The World Bank has launched two flagship economic reports: the 2024 Cameroon Economic Update and the Cameroon Public Finance Review.
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Anne-Lucie Lefebvre appointed as World Bank Country Manager for Haiti
Anne-Lucie Lefebvre has been appointed as World Bank Country Manager for Haiti, based in Port au Prince. In her new role, Lefebvre is responsible for leading the Bank’s dialogue with the government and working closely with key development partners and stakeholders.
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Nepal signs $100 million deal with World Bank for road improvement
KATHMANDU, August 5, 2024—The Government of Nepal and the World Bank today signed a financing agreement for a US$100 million concessional loan from the International Development Association (IDA) to improve the connectivity, efficiency, resilience, and safety of Nepal’s provincial and local road network. The project also aims to strengthen the government’s capacity to manage this infrastructure.