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The Latest Breaking News from World Bank

Biden pick Ajay Banga cleared to take top job at World Bank

The Biden administration’s choice to run the World Bank — former Mastercard CEO Ajay Banga — appears to have a lock on the job

The Independent UK

World Bank chief calls for dramatic hike in funding to help developing world

Outgoing boss David Malpass says more money needed to combat overlapping crises of war, pandemics and climate emergency

The Guardian - UK

Can this former CEO fix the World Bank and solve the world's climate finance and debt crises as the institution's next president?

Over the past two years, a drumbeat of calls for reforming the World Bank has pushed its way onto the front pages of major newspapers and the agenda of heads of state.

The Conversation

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Exclusive: Biden's World Bank pick sets ambitious course

Ajay Banga: World Bank should focus on both poverty and climate change.

Axios

Global economy is skidding towards a 'lost decade,' World Bank warns

The past 30 years of economic growth and development could be reversed this decade if governments don't act.

Fortune

Graham Pyatt obituary

Other lives: Warwick University economics professor and World Bank development economist

The Guardian - UK

The World Bank used to cause untold harm - but 30 years ago it started reforming. What went right

Development projects can have profound impacts on their societies. There are many benefits that flow from building new roads and power plants, and from modernising agricultural practices. But they can also have permanent negative consequences.

The Conversation

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From Bush to Blix: what happened to the key figures in the Iraq war?

The ex-president is a painter, his VP an avid fly fisher, while Tony Blair has built a property empire. They appear unrepentant

The Guardian - US

World Bank says $411bn cost to rebuild war-torn Ukraine

World Bank said the figure of $411bn over the next 10 years should be considered a minimum as the war continues.

Al Jazeera

World Bank puts cost of rebuilding Ukraine at $411 billion

A new World Bank report puts the cost of Ukraine’s recovery and rebuilding from Russia’s invasion at $411 billion over the next decade

The Independent UK

Pressure grows on shipping industry to accept carbon levy

World Bank among those urging levy to fund climate action in developing world and encourage fleets to upgrade

The Guardian - UK

World Bank estimates Syria's three-year earthquake recovery needs at $7.9 billion

The World Bank on Monday said the February earthquakes are expected to have caused Syria's real GDP output to contract by 5.5% in 2023, with recovery and reconstruction needs estimated at $7.9 billion over three years.

Reuters

A Eugene Kohn: Architect of soaring skyscrapers

His New York-based firm was a global powerhouse responsible for four of the tallest buildings in the world

The Independent UK

World Bank Sets Conditions for Lebanon to Access Electricity Funding

Lebanon has to audit its state electricity company among other reforms the World Bank has required before it will consider funding Lebanon's worn-down electricity sector, the bank's regional vice president Ferid Belhaj said on Tuesday. Public provision of electricity in Lebanon has been poor since the country's 1975-90 civil war…

Asharq Al-Awsat

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The Conversation

Nigeria’s cities are growing fast: family planning must be part of urban development plans

Nigeria is rapidly urbanising, with more people living in urban areas than in rural communities. A recent World Bank estimate shows that 53% of the 213 million Nigerians live in urban areas. That’s projected to rise above 70% by 2050.

The Independent UK

Rights group says Lebanon electricity crisis deepens poverty

Human Rights Watch says many middle and working class families in Lebanon have been forced to spend most of their monthly income to pay shady neighborhood businessmen running private generators

The Conversation

Tunisia's president is targeting migrants to divert attention from serious domestic problems – a classic tactic

Tunisia’s president Kais Saied recently called for urgent measures against illegal immigration of sub-Saharan African nationals. He said they were a source of “violence, crime and unacceptable acts”. His comments were condemned by the international community and the World Bank paused talks over its future engagement with Tunisia. They also…

The Independent UK

Costa Rica ponders ways to sustain reforestation success

Costa Rica went from having one of the world’s highest deforestation rates in the 1980s to a nation centered on ecotourism

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Asharq Al-Awsat

World Bank Halts Talks with Tunisia over President's Anti-migrant Remarks

The World Bank is pausing talks over its future engagement with Tunisia following anti-immigrant comments made by the country's president, Kais Saied, according to an internal message to staff seen by AFP.

France 24

World Bank halts Tunisia program amid migrant crackdown

The World Bank suspends work with Tunisia over a spike in racist attacks fuelled by an inflammatory speech by President Kais Saied. In Nigeria, the opposition party leads peaceful protests in condemnation of the electoral commission's handling of last month's flawed presidential election. And a few hours after the Michelin…

Bangkok Post

World Bank halts Tunisia program over president's migrant remarks

WASHINGTON - The World Bank is pausing talks over its future engagement with Tunisia following anti-immigrant comments made by the country's president, Kais Saied, according to an internal message to staff seen by AFP.

Asharq Al-Awsat

A Month after Quake, Survivors Need Shelter, Sanitation

One month after a powerful quake devastated parts of Türkiye and Syria, hundreds of thousands of people still need adequate shelter and sanitation, and an appeal for $1 billion to assist survivors is only 10% funded, hampering efforts to tackle the humanitarian crisis, a United Nations official said Monday. The…

The Independent UK

Hundreds of thousands of survivors still need help a month after deadly Turkey earthquakes

An appeal for $1bn (£832m) to assist people across the country is only 10 per cent funded, UN official says

The Independent UK

A month after quake, survivors need shelter, sanitation

A United Nations official says one month after a powerful quake devastated parts of Turkey and Syria, hundreds of thousands of people continue to have “extensive humanitarian needs,” including shelter and sanitation

Al Jazeera

How town at the epicentre of Turkey’s 1999 earthquake was rebuilt

As Turkey reels from last month’s tremors, Golcuk’s reconstruction could offer glimpse into what needs to happen now.

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