Latest World Bank News
As flooding becomes a yearly disaster in South Sudan, thousands survive on the edge of a canal
AYOD, South Sudan (AP) — Long-horned cattle wade through flooded lands and climb a slope along a canal that has become a refuge for displaced families in South Sudan. Smoke from burning dung rises near homes of mud and grass where thousands of people now live after floods swept away their...
UN food agency says 40 million people are struggling to feed themselves in West and Central Africa
DAKAR, Senegal (AP) — More than 40 million people are now struggling to feed themselves across West and Central Africa with that number set to rise to 52 million by the middle of next year, the United Nations food agency said Friday. According to a new report released Friday, the...
Grassroots funding for Ukraine's military declines as groups look for creative ways to raise money
KYIV, Ukraine (AP) — The concert took place in an old movie studio in Kyiv, the location kept secret until the final moment in case it was the target of a Russian attack. More than 1,000 soldiers and young people gathered to listen to the artists who joined forces with a military...
Parents in Africa struggle with unpredictable school fees that force children to drop out
KAMPALA, Uganda (AP) — The day Shalom Mirembe was sent home from school last month over unpaid tuition, her father lay dying in a hospital. Even as her mother sat by his bedside, school officials were calling and demanding payment. For Mirembe's mother, a shoe vendor who looks...
Myanmar's economy set to contract as floods and fighting take heavy toll, the World Bank says
BANGKOK (AP) — Myanmar’s economy is forecast to contract this year, the World Bank said Wednesday, as flooding and fighting take a severe toll nearly four years after the military ousted its elected government headed by Aung San Suu Kyi. In an update issued Wednesday, the bank...
Chinese leaders pledge 'moderately loose' monetary policy, more support for slowing economy
BANGKOK (AP) — China’s top leaders have pledged to loosen monetary policy and provide more support for the slowing economy, while Premier Li Qiang swiped at threats of higher tariffs on Chinese exports, saying they hinder global growth. Shares in Hong Kong jumped Monday after...
Afghan economy shows modest signs of growth but recovery remains fragile, says World Bank
Afghanistan’s economy is showing modest signs of growth after two years of severe contraction, the World Bank said. In its latest development update issued late Wednesday, the financial institution said modest GDP growth of 2.7% was driven by private consumption. The partial...
Namibia's decision to extend election voting due to technical issues draws opposition complaints
WINDHOEK, Namibia (AP) — Voting in Namibia for a new president and parliament has been extended into the weekend by the electoral agency due to shortages of ballot papers, a move challenged by the main opposition which is alleging fraud. The southern African country’s elections...
Multilateral banks are key to financing the fight against global warming. Here is how they work
As climate change leads to a seemingly endless stream of weather disasters around the world, countries are struggling to adapt to the new reality. Preparing to better withstand hurricanes, floods, heat waves, droughts and wildfires will take hundreds of billions of dollars. And then...
IMF chief warns that world risks falling into slow-growth rut and urges China to enact reforms
WASHINGTON (AP) — The world economy, buffeted by conflict and growing geopolitical rivalries, is in danger of getting stuck in a slow-growth, high-debt rut, the head of the International Monetary Fund warned Thursday. She also urged Chinese leaders to take more decisive action to jump-start their...
