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The Latest Breaking News from World Bank

Nigeria, Pakistan, Philippines and Australia. What can we learn from the world's devastating floods?

Extreme weather is drowning many parts of the world with countries lacking the resilience and funding to cope with the devastating downpours. What can we learn from these global floods and what solutions are on the table at COP27?

ABC News

Developing countries ‘will need $2tn a year in climate funding by 2030’

Report co-written by Nicholas Stern says figure required to switch away from fossil fuels and cope with extreme weather impacts

The Guardian - UK

Money talks: why climate finance at Cop27 is key to beating global heating

Funding urgently needed to cope with climate disasters – and to prevent distrust crashing UN negotiations

The Guardian - UK

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Who’s who at Cop27: the leaders who hold the world’s future in their hands

A look at who will – and who may not – be at the Sharm el-Sheikh climate summit this month

The Guardian - UK

IP rights are key to sustainability

Indonesians are increasingly aware of the need to develop in a more sustainable manner. In October 2022, the Jakarta High Court rejected the government's appeal of a citizen lawsuit that found President Joko Widodo negligent in failing to tackle Jakarta's notorious air pollution. Report after report indicates the rapidly growing…

Bangkok Post

Riyadh Hosts International Workshop to Improve Yemeni Institutions

The Coordination Group for Building and Developing the Capacity of Yemeni Institutions held on Tuesday its first workshop in Riyadh, with the participation of a number of Yemeni and Saudi institutions and international organizations. The two-day workshop aims to discuss means to strengthen the work of the Yemeni government and…

Asharq Al-Awsat

World Bank: Saudi Green Initiatives Will Grow Region’s Economy to $13 Trillion by 2050

The World Bank confirmed that Saudi green initiatives will grow the region's economy to $13 trillion by 2050.

Asharq Al-Awsat

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Rating Agencies Cite ‘Cautious’ Positive Outlook for Lebanon after Maritime Demarcation Deal with Israel

The conclusions of two international credit rating agencies agreed on the initial positive outlook for Lebanon and its economy following its signing of the US-mediated sea border deal with Israel. “The agreement is credit positive for Lebanon because it establishes the necessary geopolitical security conditions for international energy companies to…

Asharq Al-Awsat

Explained: Where are the women in Indian newsrooms?

Latest government data shows that the labour force participation rate of women in India fell from 43 percent in 2005 to 25 percent in 2021. According to the World Bank, the number of working women in India fell from 26 percent in 2010 to 19 percent in 2020.

Newslaundry

Deputy premier hopeful for 2023

Thailand's economy should not succumb to the global economic slowdown projected for next year, but rather continue its recovery propelled by new infrastructure development and increasing digital know-how among people, says Deputy Prime Minister Supattanapong Punmeechaow.

Bangkok Post

Fight against poverty has ground to a halt, World Bank warns

The Covid-19 pandemic and Russia's invasion of Ukraine have reversed three decades of progress in reducing poverty, according to the World Bank, which is warning that the global goal of eradicating extreme poverty by 2030 is now out of reach. In its latest report, the Washington-based lender estimates that 70…

France 24

World Bank warns Solomon Islands of unsustainable debt without reform

The Solomon Islands will need to implement fiscal reforms such as alterations to its tax system and more efficient public spending or its debt levels may become unsustainable, the World Bank said in a report on Wednesday.

Reuters

India's crisis a self-inflicted catastrophe

Nearly 80% of the estimated 70 million people around the world who fell into extreme poverty at the onset of Covid-19 in 2020 were from India, a recent World Bank report has revealed. But even this shocking figure could be an underestimation, as the lack of official data makes it…

Bangkok Post

Ukraine War: German Chancellor Vows To Help Rebuild Ukraine

Rebuilding Ukraine will cost 349 billion US dollars, according to an analysis released last month by the World Bank. Read on for details:

Dynamite News

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France 24

Putin admits Russia enduring ‘economic difficulties’ due to Western sanctions

President Vladimir Putin on Tuesday acknowledged that his country was experiencing “economic difficulties” because of different “restrictions” imposed on his country due to the war in Ukraine. The UK's new Prime Minister Rishi Sunak, meanwhile, vowed to support Ukraine in its war against Russia, saying it must “be seen successfully…

Reuters

World Bank disburses additional $500 million to Ukraine

The World Bank said on Monday it had disbursed an additional $500 million to help Ukraine meet urgent spending needs created by Russia's Feb. 24 invasion and the ongoing war.

Bangkok Post

Lake bridge needs review

The cabinet last week approved 6.6 billion baht for construction of two bridges in southern region -- one of which raises fears about its impact on rare and endangered Irrawaddy dolphins in Songkhla Lake.

Reuters

Poor nations face peril over elusive G-20 debt relief push

A failure to secure meaningful progress on a debt relief for the world's poorest nations at the International Monetary Fund and World Bank annual meeting in Washington has left policymakers, campaigners and investors frustrated.

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Bangkok Post

Multiple issues slow poverty reduction

Thailand has made remarkable progress in reducing poverty from 58% in 1990 to 6.8% in 2020, driven by high growth rates and structural transformation.

Al Jazeera

Economic woes, shifting ties complicate Pakistan’s flood recovery

Government seeking to generate much-needed funding but analysts say domestic and external challenges pose a risk.

Zenger

Janet Yellen Calls OPEC+ Move ‘Unhelpful And Unwise’ For Global Economy

The United States has expressed disappointment in OPEC+'s plans to cut output.

Salon

World Bank breaks sustainability vow

A new report alleges the World Bank has failed on its promise to align more closely with the Paris agreement

The Guardian - AU

China’s decade under Xi Jinping explained in seven charts

Xi has overseen rapid economic growth and rising wealth, while spending big on the military, but inequality has widened has and a demographic crisis looms

The Independent UK

Pakistan: World Bank estimates floods caused $40B in damages

Pakistan's government says the World Bank estimates that this summer’s record-breaking floods have caused $40 billion in damages in this impoverished country

The Conversation

Why migrants bring gifts from abroad. A sense of obligation and a fear of social backlash

An estimated 281 million migrants span the globe. The remittances they send home get a lot of attention from policymakers and development agencies like the World Bank due to their positive impacts on developing economies. This is because the movement of money is – for the most part – quantifiable,…

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