World Bank

international financial institution

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01.07.2024Labour Party wins the general election

01.07.2024Labour Party wins the general election

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business 2025-06-25 09:44
World Bank allocates over $1 billion to rebuild Iraq, Syria, and Lebanon
  • The World Bank has approved more than $1 billion for key projects in Iraq, Syria, and Lebanon.
  • This funding aims to rebuild critical infrastructure and support economic recovery in the regions.
  • These investments are part of a broader strategy to stimulate growth and foster long-term stability.
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Japan's growth forecast plummets amid inflation concerns
business 2025-06-11 18:22
Japan's growth forecast plummets amid inflation concerns
  • Japan's growth is decreasing due to weak domestic and external demand.
  • Food price inflation and U.S. tariff policy are major contributing factors.
  • The World Bank reduced its growth forecast for Japan's GDP to 0.7% for 2025.
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World Bank predicts global economic slump due to trade wars
business 2025-06-10 19:28
World Bank predicts global economic slump due to trade wars
  • The World Bank has downgraded its forecast for global economic growth, predicting a rate of just 2.3% for 2025.
  • The economic forecast has been significantly impacted by increasing trade barriers and uncertainty stemming from U.S. trade policies.
  • Without a swift change in course, living standards globally may suffer deeper consequences.
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Sun King aims to triple sales in Nigeria with World Bank backing
business 2025-05-21 07:41
Sun King aims to triple sales in Nigeria with World Bank backing
  • Sun King sold over 2 million solar kits in Nigeria over the past three years.
  • The company secured an $80 million loan from the IFC to support sales growth in Nigeria.
  • The firm plans to triple its sales in Nigeria, targeting the vast market of nearly 90 million people without electricity.
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politics 2025-05-16 15:07
Saudi Arabia and Qatar clear Syria's debt to the World Bank
  • Saudi Arabia and Qatar paid off Syria's $15.5 million debt to the World Bank.
  • This action allows Syria to take out new loans for development projects.
  • The clearance of debt is seen as a crucial step towards recovery and reconstruction in Syria.
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Africa's startups need significant exits for growth
business 2025-04-30 10:56
Africa's startups need significant exits for growth
  • A total of 188 ventures in Africa raised over $2.2 billion in 2024.
  • The lack of significant exits hampers investment growth in the region.
  • Creating a strategy for exiting investments is critical for the startup ecosystem's future.
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Saudi Arabia and Qatar step up to pay Syria's World Bank debt
politics 2025-04-28 11:14
Saudi Arabia and Qatar step up to pay Syria's World Bank debt
  • Saudi Arabia and Qatar commit to repaying Syria's outstanding debt to the World Bank, which totals nearly $15 million.
  • This repayment is poised to enable the World Bank to resume its support services in Syria after a 14-year halt.
  • The financial support from these nations could significantly aid Syria's reconstruction efforts in the aftermath of its prolonged civil conflict.
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business 2025-04-24 14:49
Lebanon secures $250 million loan to tackle electricity crisis
  • Lebanon's finance ministry announced the World Bank loan aimed at addressing electricity shortages.
  • The economic collapse since late 2019 has worsened Lebanon's electricity situation significantly.
  • This loan represents a critical step in combining financial assistance with reform efforts to rebuild Lebanon's economy.
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World Bank prioritizes investment plans for Pakistan's energy sector
business 2025-04-15 05:35
World Bank prioritizes investment plans for Pakistan's energy sector
  • The World Bank Group is exploring new investment opportunities in Pakistan's energy sector.
  • Discussions emphasize the promotion of public-private partnerships and revisiting key energy policies.
  • The World Bank is committed to developing a long-term partnership plan to enhance reform and attract investments.
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Pakistan launches financial literacy week to boost public inclusion
business 2025-04-09 06:31
Pakistan launches financial literacy week to boost public inclusion
  • The Pakistan Financial Literacy Week 2025 will run from April 14 to 18, 2025.
  • The initiative is a collaboration between the State Bank of Pakistan, the World Bank, and the Asian Development Bank.
  • This event aims to increase public engagement and promote financial inclusion across the country.
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World Bank approves $102 million to strengthen microfinance in Pakistan
business 2025-03-20 05:39
World Bank approves $102 million to strengthen microfinance in Pakistan
  • The World Bank has approved $102 million to enhance access to microcredit and strengthen the microfinance sector in Pakistan.
  • The project aims to benefit approximately 1.89 million people, with a focus on vulnerable populations such as women and rural families.
  • Microfinance will continue to play a vital role in supporting livelihoods and increasing resilience against climate shocks.
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Pakistan secures $20 billion World Bank funding pledge
business 2025-01-15 19:25
Pakistan secures $20 billion World Bank funding pledge
  • Pakistan has secured a $20 billion funding agreement with the World Bank to commence in 2026.
  • The funding will focus on areas such as renewable energy, education, and climate resilience.
  • This partnership reflects confidence in Pakistan's economic stability amid ongoing challenges.
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Malala Yousafzai sparks debate by returning to Pakistan for girls' education summit
society 2025-01-14 07:14
Malala Yousafzai sparks debate by returning to Pakistan for girls' education summit
  • Malala Yousafzai spoke at a summit in Pakistan focused on girls' education and called for support against the Taliban.
  • She denounced the Taliban's gender apartheid policies restricting women's rights and education.
  • Her remarks highlight the urgent need for Muslim leaders to unite in advocating for girls' education and opposing oppressive measures.
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World Bank raises China's GDP forecast but warns of looming challenges
business 2024-12-28 11:54
World Bank raises China's GDP forecast but warns of looming challenges
  • China's GDP estimate for 2023 was revised to 129.4 trillion yuan based on a census.
  • The government maintains a growth forecast of around 5% despite economic challenges.
  • Long-term reforms are necessary to support sustainable growth amidst ongoing property sector issues.
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World Bank funds highest dam in Tajikistan amid regime repression
society 2024-12-15 00:00
World Bank funds highest dam in Tajikistan amid regime repression
  • The World Bank is scheduled to vote on financing the Rogun mega dam project in Tajikistan on December 17.
  • The project has already displaced over 7,000 people and threatens local ecosystems and human rights.
  • There are alternative energy solutions that the World Bank can consider to mitigate adverse impacts.
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Myanmar's economy faces collapse as floods and fighting ravage the nation
business 2024-12-13 06:46
Myanmar's economy faces collapse as floods and fighting ravage the nation
  • Myanmar is experiencing economic contraction due to extensive flooding and conflict.
  • The World Bank projects a 1% reduction in the economy this fiscal year.
  • Ongoing hostilities and natural disasters have worsened humanitarian conditions in Myanmar.
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Afghanistan's economy is recovering after two years of decline
business 2024-12-05 04:44
Afghanistan's economy is recovering after two years of decline
  • Afghanistan's economy shows a GDP growth of 2.7% after two years of downturn due to private consumption.
  • There is a growing trade deficit due to increasing imports, while exports remain stable.
  • Urgent investment in the domestic private sector is crucial for sustainable economic recovery.
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business 2024-12-05 02:04
World Bank warns afghan economy is facing significant challenges
  • Afghanistan's economy has shown GDP growth of 2.7%, primarily driven by private consumption.
  • The World Bank identified ongoing challenges such as fiscal constraints, trade imbalances, and limited capacity for public investment.
  • Without significant changes, the uncertainty surrounding Afghanistan's economic future persists.
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business 2024-12-04 02:16
Xiamen leads the way in sustainable coastal development practices
  • Xiamen has made significant progress in ecological restoration and sustainable development over the past 30 years.
  • International experts have recognized Xiamen's initiatives during a recent event focused on ecological conservation strategies.
  • Xiamen's success serves as a model for other coastal cities confronting environmental challenges.
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World Bank warns poor countries face dire debt crisis
society 2024-12-03 00:00
World Bank warns poor countries face dire debt crisis
  • Developing countries are facing record high debt costs due to global interest rate hikes.
  • More than 30 of the poorest nations are experiencing debt distress, with some defaults reported.
  • The World Bank emphasizes the need for urgent debt relief to foster economic growth and avoid prolonged financial hardship.
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Ukraine secures $4.8 billion loan as critical aid during ongoing conflict
politics 2024-11-27 09:09
Ukraine secures $4.8 billion loan as critical aid during ongoing conflict
  • Ukraine's Prime Minister Denys Shymhal confirmed a $4.8 billion loan from the World Bank to assist with recovery efforts.
  • Recent Russian strikes have caused civilian casualties and heightened the urgency for humanitarian aid.
  • The financial support from the World Bank is expected to help sustain public services and infrastructure amid ongoing conflict.
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Sri Lanka's economy shows surprising recovery in 2024
business 2024-10-10 17:07
Sri Lanka's economy shows surprising recovery in 2024
  • The World Bank has increased Sri Lanka's growth forecast for 2024 to 4.4 percent due to recovery in key sectors.
  • The new administration is addressing the economic fallout from the 2022 crisis, which nearly doubled poverty levels.
  • Despite the positive outlook, the World Bank warns that the recovery is fragile and requires ongoing reforms and stability.
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World Bank Suspends Ads on X Over Racist Content
society, business 2024-08-23 10:54
World Bank Suspends Ads on X Over Racist Content
  • The World Bank stops paid advertising on X after CBS News uncovers racist content.
  • The decision comes following promoted ads being found under racist posts.
  • World Bank takes action to address the issue swiftly and decisively.
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World Bank Economist Urges Investment and Innovation in China and India
politics, business 2024-08-12 00:00
World Bank Economist Urges Investment and Innovation in China and India
  • The World Bank's chief economist emphasizes the importance of investment and innovation in China and India.
  • He suggests a strategy of investing first, infusing foreign technology, and then focusing on innovation.
  • This approach aims to boost economic growth and development in both countries.
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World Bank upgrades global growth forecast on back of robust US economy
business 2024-06-11 15:50
World Bank upgrades global growth forecast on back of robust US economy
  • The World Bank raises its global economic growth projection to 2.6% fueled by the strong performance of the US economy.
  • US economy expected to grow by 2.5% this year according to the World Bank's forecast.
  • The global economy anticipates a positive outlook due to sustained growth in the United States.
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World Bank approves $1 billion loan for Pakistan's Dasu hydropower project with China's assistance
international affairs 2024-06-11 11:50
World Bank approves $1 billion loan for Pakistan's Dasu hydropower project with China's assistance
  • The World Bank has granted a $1 billion loan for Pakistan's largest Dasu hydropower project.
  • The project is located in the country's northwest and is being constructed with the assistance of China.
  • This financial support aims to boost Pakistan's energy sector and infrastructure development.
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The World Bank reveals staggering increase in poverty rates in Lebanon
international affairs 2024-05-23 13:58
The World Bank reveals staggering increase in poverty rates in Lebanon
  • Poverty in Lebanon has more than tripled over the past decade, according to the World Bank.
  • The country's descent into a prolonged financial crisis has particularly affected the Syrian refugee population.
  • The World Bank report sheds light on the dire economic situation in Lebanon.
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World Bank Halts Funding for Controversial Tanzania Tourism Project
society 2024-04-23 08:46
World Bank Halts Funding for Controversial Tanzania Tourism Project
  • The World Bank has suspended funding for the Ruaha National Park project in Tanzania.
  • Allegations of human rights abuses during the park's expansion have led to this decision.
  • Rights groups have pressured the World Bank to reconsider their involvement in the project.
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