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The Latest Breaking News from the World Bank

‘Loss and damage’ deal struck to help countries worst hit by climate crisis

Governments draw up blueprint for fund to be administered at first by World Bank after tense Abu Dhabi talks

The Guardian - UK

Stage set for conflict at COP28 with mixed response to outcome of key climate talks

Tense negotiations at the final meeting on a climate-related loss and damages fund — an international fund to help poor countries hit hard by a warming planet — ended Saturday in Abu Dhabi, with participants agreeing that the World Bank would temporarily oversee the fund for the next four years

The Independent UK

Climate crisis talks resume on ‘loss and damage’ funding for poorest countries

World leaders will reconvene in Abu Dhabi before UAE’s Cop28 after talks broke down two weeks ago

The Guardian - UK

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Whose job will AI replace? Here's why a clerk in Ethiopia has more to fear than one in California

Artificial intelligence is changing the world – and one of the main areas it will affect in the short-to-medium term is the workforce.

The Conversation

As climate threats grow, poor countries still aren't getting enough money to prepare

To adapt to the threats developing countries are facing from climate change, the United Nations says they'll need at least 10 times more money than the public funding they received in 2021.

WEKU

Oil prices could reach 'uncharted waters' if the Israel-Hamas war escalates, the World Bank says

The World Bank says oil prices could be pushed into “uncharted waters” if the violence between Israel and Hamas intensifies

The Independent UK

World Bank warns oil price could soar to record $150 a barrel

Escalation of Israel-Hamas war into Middle East-wide conflict would disrupt oil supplies and stoke food prices, says Bank

The Guardian - UK

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The World Bank approved a $1B loan to help blackout-hit South Africa's energy sector

The World Bank has approved a $1 billion loan for South Africa to help it address an energy crisis that has peaked this year with the country’s worst electricity blackouts

The Independent UK

The US invaded the island of Grenada 40 years ago. The legacy of revolution lives on

Why we must remember Maurice Bishop and the Grenadian revolution

The Guardian - US

Chief Minister instructs to fill Kalyana Karnataka, backlog posts in Higher Education Department

Chief Minister Siddaramaiah has instructed officials of the Finance, the Higher and Technical Education Departments to fill up Kalyana Karnataka vacancies and other backlog posts which have been pending for many years

The Hindu

As Colorado Races to Set New Rules for Climate-Friendly Industries, Its Plan Raises Concerns Over Dual Role of State Regulator

Coal is back, despite banks’ pledge to stop financing such projects.

Capital & Main

Gaza’s dire humanitarian crisis explained

Israel’s strikes and blockade are pushing Gaza’s essential services and resources to the brink of collapse.

Al Jazeera

The World Bank and the IMF need to keep reforming to become fit for purpose

The World Bank and the International Monetary Fund are being challenged to make substantial reforms so that they become fit for purpose in the 21st century.

The Conversation

World Bank to implement LGBTQ safeguards before resuming new Uganda funding

The World Bank will aim to ensure gay and transgender Ugandans are not discriminated against in its programmes before resuming new funding, which was halted in August over an anti-LGBTQ law, a bank executive said.

Radio France Internationale

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The Guardian - UK

UK needs to rebuild global development reputation, admits Andrew Mitchell

Development minister’s comments at World Bank summit in Marrakech acknowledge effect of aid budget cuts

The Guardian - UK

Rich nations, the IMF and World Bank are worried about the Israel-Hamas war, but not nearly enough

Just like the Yom Kippur war 50 years before, the current conflict represents a grave threat to an already fragile global economy

The Independent UK

IMF and World Bank are urged to boost funding for African nations facing conflict and climate change

Most of the population in conflict-affected countries like Niger, Mali, Burkina Faso, Chad and northern Nigeria depends on climate-vulnerable agriculture

Radio France Internationale

IMF, World Bank hold first meetings in Africa in 50 years

The IMF and World Bank gather in Morocco Monday for their first annual meetings on African soil in 50 years, under pressure to reform to better aid poor nations blighted by debt and climate change.

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Foreign Policy

The World Bank’s Big Week

What to know ahead of the institution’s annual meetings.

The Guardian - UK

IMF clings to a hopeful agenda as crisis follows crisis

At the fund’s annual meeting this week in Morocco, ambitions for climate and debt relief may be overwhelmed by events – again

The Conversation

Cautious welcome: World Bank and IMF return to Africa, but questions remain

The annual meetings of the World Bank and International Monetary Fund (IMF) are due to take place in Marrakech, Morocco, in mid-October. The city and country are still reeling from a devastating earthquake in early September.

The Hindu

Despite early gains of Swachh Bharat Mission, toilet use declining since 2018-19: World Bank paper

While noting that this analysis was for the absolute increase from 2014-15 to 2019-21, the paper also said that the annual improvements in regular toilet use had not been linear “and masks two distinct phases evident in the data”.

The Independent UK

South Asia is expected to grow by nearly 6% this year, making it the world's fastest-growing region

The World Bank says South Asia is expected to grow by 5.8% this year, making it the fastest-growing region in the world even as the pace remains below pre-pandemic levels

The Hindu

Allocation of funds in Karnataka gram panchayats influenced by the elite, says World Bank research paper

Though the Karnataka government has taken many legislative measures to decentralise powers to rural local bodies during the last three decades, fund allocations in gram panchayats (GPs) are most influenced by the elite, according to a research paper of the World Bank. Men and ‘upper’ caste individuals in GPs ensure…

The Hindu

India’s statistical performance on the global stage

Questions have been raised about the credibility of the statistics India produces and the competence of the official statisticians

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