The World Bank
Recent News About The World Bank
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Eastern Caribbean schools embrace digital transformation with World Bank support
Nestled amid Saint Lucia's lush greenery, the vibrantly colored classrooms of Vide Bouteille Primary School host over 300 young learners from kindergarten to sixth grade. Ten-year-old Ayan skillfully watches real-time scores from a math app on her tablet as they are reflected on the interactive board at the front of the room. She says she's eager to become a veterinarian.
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Leveraging international trade for sustainable growth in South Africa
International trade can be a powerful force for economic growth and poverty reduction. This report, “Unlocking South Africa’s Potential: Leveraging Trade for Inclusive Growth and Resilience,” synthesizes analytical work carried out over the last four years. It provides an overview of South Africa’s export performance over the past decade for both goods and services and discusses how trade policies and trade facilitation reforms can support robust, inclusive, and resilient economic growth in South Africa. In a changing world marked by unprecedented supply chain disruptions...
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World Bank appoints Anne Tully as new country manager for Myanmar
The World Bank has appointed Anne Tully as its new Country Manager for Myanmar, effective August 7, 2024.
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Thailand advances sustainable finance initiatives amid global trends
In the evolving landscape of sustainable finance, Thailand is actively integrating environmental, social, and governance (ESG) factors into its financial sector. Authorities and market players are making strides to align with global trends and regional standards.
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World Bank appoints Faris Hadad-Zervos as new country director for Afghanistan
WASHINGTON, August 1, 2024—Mr. Faris Hadad-Zervos has been appointed the World Bank’s new Country Director for Afghanistan, effective today.
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World Bank outlines strategies for developing nations facing "middle-income trap
New research offers a 21st century playbook for high-quality growth
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Forest management project improves livelihoods in DRC
The Democratic Republic of the Congo (DRC) faces numerous challenges and opportunities, from its vast mineral resources to its expansive forests. These forests cover two-thirds of the country and are part of the Congo Basin, which houses the world's second-largest rainforest. Over half of DRC's population lives in rural areas, relying heavily on these forests for sustenance, often at the expense of environmental health.
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World Bank approves $24 million grant for education in São Tomé and Príncipe
The World Bank Board of Directors has approved the Safeguarding Access to Fiscal and Educational Resources Project (SAFER) with a grant of $24 million from the International Development Association (IDA). This initiative aims to address the fiscal crisis in São Tomé and Príncipe, ensuring the continued delivery of education services amid ongoing challenges in the energy sector.
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World Bank approves $27 million for community-driven development in Kyrgyz Republic
The World Bank’s Board of Executive Directors has approved $27 million for the National Community Initiatives Project (NCIP) in the Kyrgyz Republic. The project aims to enhance access to socio-economic infrastructure and increase economic opportunities at the local level, with a focus on women and youth.
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Nepal's multi-donor trust fund supports significant financial management reforms
The Nepal Public Financial Management Multi-Donor Trust Fund (PFM MDTF) was established in 2010 to enhance public financial management performance, transparency, and accountability in Nepal. The MDTF has been instrumental in supporting the government’s execution of various reforms.
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World Bank launches multi-sectoral project for human capital development in Burundi
WASHINGTON, July 30, 2024 — A new World Bank-financed project focusing on nutrition, healthcare, and education aims to empower boys and girls in Burundi through improved access to quality services. The initiative is expected to benefit an estimated 13.2 million people over five years, including 1.9 million refugees and host communities.
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Albania improves rural roads through World Bank-backed initiative
Albania's road network, spanning 15,000 kilometers, serves as a lifeline for communities, facilitating trade, access to services, and connectivity. Yet lack of funding left many rural roads and regional routes outside the national highway system in disrepair, threatening public safety and impeding economic activity. For years, many remote villages faced isolation because of such dilapidated roadways.
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World Bank launches $205M initiative for climate preparedness in Comoros Madagascar Mozambique
Over six million people in Comoros, Madagascar, and Mozambique are set to benefit from a new World Bank regional program that will enhance Eastern and Southern African countries' financial preparedness to respond to climate shocks. The Regional Emergency Preparedness and Inclusive Recovery Program (REPAIR), approved today, will strengthen countries’ resilience against climate shocks and seek to attract $205 million in private capital to support these efforts in its first phase.
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Toolkit launched for assessing suitability of plastic pollution measurement methods
In response to the plastic pollution crisis, numerous methodologies for quantifying plastic pollution have been developed. The breadth of these assessment methodologies can make it challenging for practitioners to determine which methods best suit their needs. The ‘Plastic Pollution Assessment Methodologies Suitability Toolkit’ (PLAST) has been designed to characterize and compare these methodologies, suggesting the most suitable options based on a user’s requirements. PLAST focuses on quantification assessments that determine the amounts of plastic pollution and provide...
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World Bank approves policy operation supporting Ethiopia's economic reforms
The World Bank’s Board of Executive Directors has approved the Ethiopia First Sustainable and Inclusive Growth Development Policy Operation. This initiative supports home-grown reforms aimed at transitioning Ethiopia to a more inclusive economy, enhancing private sector contributions to growth, strengthening the financial sector, expanding trade options, and improving fiscal transparency. The operation includes a $1 billion grant and $500 million concessional credit from the International Development Association (IDA).
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World Bank approves $125M grant supporting economic resilience in Somalia
NAIROBI, July 30, 2024 — The World Bank’s Board of Executive Directors has approved Development Policy Financing (DPF) that introduces for the first time drought index insurance to 180,000 of Somalia’s pastoralists, including 90,000 women.
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World Bank Group appoints Radi Anguelova as Vice President for Human Resources
The World Bank Group has announced the appointment of Radoslava “Radi” Anguelova as Vice President for Human Resources, effective immediately. The announcement was made by World Bank Group President Ajay Banga on July 30, 2024.
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World Bank appoints Sangbu Kim as first VP for digital transformation
World Bank Group President Ajay Banga announced today the appointment of Sangbu Kim as the World Bank’s first Vice President for Digital Transformation.
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World Bank appoints Tania Meyer as new country manager for Cambodia
Phnom Penh, July 29, 2024—The World Bank has appointed Tania Meyer as its new Country Manager for Cambodia.
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Efforts bolster food security amid desert locust crisis in South Sudan
Desert locusts are the most destructive migratory agricultural pests globally, with a small swarm capable of consuming as much food in one day as 35,000 people. The upsurge that began affecting South Sudan in April 2020 was driven by climate change and conflict. Two cyclones hit the Arabian Peninsula in 2018, preventing effective swarm control due to ongoing conflicts in Yemen and Somalia. By April 2020, 23 countries were affected. Swarms reached South Sudan in March 2020, damaging over 20,000 hectares of crops; insecurity and COVID-19 restrictions prevented a full damage...