The World Bank
Recent News About The World Bank
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World Bank official highlights China's role in global development at CIDCA conference
Distinguished Colleagues,
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World Bank Group launches new framework for resilient growth in Tanzania
The World Bank Group’s Board of Executive Directors has endorsed a new Country Partnership Framework (CPF) for Tanzania. This initiative aims to support the nation in consolidating its middle-income status, achieving high levels of human development, and contributing to the World Bank Group’s mission to end extreme poverty and boost prosperity on a livable planet.
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World Bank provides additional funding for hydropower project in Kyrgyz Republic
The World Bank’s Board of Executive Directors approved $13.6 million in additional financing to supplement the ongoing $5 million Technical Assistance for Kambarata-1 Hydropower Plant (HPP) Project in the Kyrgyz Republic. The project aims to support the Government of the Kyrgyz Republic in preparing the Kambarata-1 HPP project sustainably.
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Mali improves healthcare access through international support programs
Ms. Salama Traoré, during her seventh pregnancy, finally received adequate health care at a community health center in Bamako. She expressed relief, recalling past hardships. "My first six children were born at home because my husband and I couldn't afford the cost of pre- and post-natal care," she said, noting the loss of two children due to inadequate care. Ms. Traoré now benefits from the Accelerating Progress Toward Health Coverage Project (PACSU), which provides quality health care to Mali's poorest.
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World Bank-backed initiative improves road safety across Madhya Pradesh
Young girls at the Senior Secondary School in Madhya Pradesh’s Raruarai village in Dhar district were hesitant to go to school. Harassed daily by bystanders outside the school, girls found the journey to school a daunting experience, impacting their education. Sixteen-year-old student Manisha Chauhan recalls, “I live in the girls' hostel next door and didn’t feel safe even walking the 50 meters from the hostel to the school. There were vendors everywhere, buses stopped haphazardly, and always a crowd of men who made us all walking together feel uncomfortable.”
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Efforts underway to transform remittance landscape for economic empowerment
June 16th marked the International Day of Family Remittances, a significant occasion for millions worldwide. To honor this day, the World Bank, in collaboration with the Bank of Albania, organized the MONEY smART Exhibition. This event aimed to highlight the crucial role remittances play in Albania's economy—as a lifeline for families, a macroeconomic stabilizer, and a gateway to financial inclusion. The exhibition was part of the Remittances and Payments Program (RPP), which is implemented across the Western Balkans with financial support from the Swiss Secretariat of...
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World Bank joins multilateral banks in commitment to sustainable procurement
The World Bank has joined eleven other Multilateral Development Banks (MDBs) to release a statement reflecting their commitment to integrating sustainable procurement into their development operations.
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World Bank launches fiscal year with GBP 750 million bond issuance
The World Bank (International Bank for Reconstruction and Development, IBRD) has initiated its Fiscal Year 2025 funding program with the pricing of a 7-year British pound sterling (GBP) benchmark bond due July 2031. The GBP 750 million Sustainable Development Bond (SDB) attracted investors seeking a secure and liquid product while supporting the World Bank's development initiatives.
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World Bank debars Indonesian consultancy firm PT. LPPSLH Konsultan for 65 months
The World Bank Group announced today the 65-month debarment of Indonesia-based consulting company PT. LPPSLH Konsultan in connection with fraudulent, corrupt, and obstructive practices related to the Investing in Nutrition and Early Years Project in Indonesia.
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Cattle industry in Tocantins embraces technology bridging generational gaps
A visit to Agropecuária Água Benta, located in Ponte Alta, Tocantins, reveals contrasting approaches to cattle farming between André Seabra, a 39-year-old farmer, and his grandparents, Ivone and Zenon Pinto, aged 82 and 90 respectively. The farm houses 700 cattle, predominantly of the Nelore breed, focusing on raising calves.
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World Bank grants $200M for Zambian drought relief
LUSAKA, July 9, 2024— Over 1.6 million vulnerable Zambians affected by a severe drought are set to benefit from a new World Bank grant aimed at addressing the adverse effects of the ongoing drought, the worst in the last 40 years.
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World Bank appoints Ahmadou Moustapha Ndiaye as Country Director for Maghreb and Malta
The World Bank has announced the appointment of Mr. Ahmadou Moustapha Ndiaye as the new Country Director for the Maghreb and Malta, effective July 9, 2024. He succeeds Mr. Jesko Hentschel, who served in the position for five years.
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World Bank releases update on Chad's economy focusing on refugee inclusion
N'DJAMENA, July 8, 2024 - Enhancing the economic inclusion of refugees necessitates acknowledging their economic contributions, according to the World Bank Chad Economic Update 2024. The report dedicates a special chapter to examining the economic ramifications of refugee influxes.
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World Bank appoints new country director for Nigeria
ABUJA, July 8, 2024 - The newly appointed Country Director for Nigeria, Dr. Ndiamé Diop, assumed his new position today. He succeeds Shubham Chaudhuri, who completed his term in the same capacity.
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South Asian nations urged to adopt progressive universalism for better social protection
Countries in South Asia have seen substantial reductions in poverty over recent decades, yet a significant portion of households remains impoverished. Recent shocks such as the COVID-19 pandemic, economic crises, and climate-related disasters are estimated to have pushed millions more into poverty, severely affecting vulnerable groups like women, youth, and children. These impacts are further amplified by megatrends such as demographic shifts and technological disruptions, which if managed well, can present significant opportunities for the region.
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India launches world's largest dam rehabilitation program
India has initiated the world’s largest dam rehabilitation program, addressing the challenges posed by aging infrastructure and changing precipitation patterns. The country, with over 6,000 dams crucial for irrigation, flood protection, and power generation, faces significant risks due to outdated designs and minimal maintenance.
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Lesotho's entrepreneurial growth spurred by targeted financial inclusion initiative
After a five-year struggle with unemployment following his tertiary education, Mosebetsi found inspiration in his name, which means ‘work’ in English. He realized he was destined to create work rather than wait for a job. In 2016, at age 27, he co-founded Iconics Clothing, a venture that gained instrumental support and guidance from the Lesotho Competitiveness and Financial Inclusion Project (CAFI).
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Thailand projects steady economic recovery through private consumption tourism goods exports
The economy of Thailand is projected to recover in 2024, supported by sustained private consumption as well as a recovery in tourism and goods exports. Growth is expected to accelerate from 1.9 percent in 2023 to 2.4 percent in 2024, and further reach 2.8 percent in 2025, driven by both domestic and external demand. This outlook is bolstered by the revised fiscal budget proposal for fiscal year 2025 and anticipated acceleration in budget execution following significant delays earlier this year.
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Ethiopian delegation learns sustainable practices from Uruguayan livestock industry
Ethiopia, leading Africa in livestock numbers with 70.3 million cattle, 95.4 million sheep and goats, and 8.1 million camels, combines mixed farming in the highlands with extensive livestock farming in the lowlands. However, both systems face climate risks such as droughts and floods and struggle with low productivity due to diseases and poor practices.
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Mozambique launches nationwide free-ID campaign with support from World Bank
Isac, a 13-year-old boy from Homoíne district in Inhambane province, southern Mozambique, dreams of becoming a nurse. Until recently, his aspirations were hindered by the lack of a legal identity document (ID), which prevented him from enrolling in school. Instead, he spent his days collecting and selling wood for food. “If I were to get an ID today, I would go back to school and achieve my dream of becoming a nurse and healing people,” he said.