Latest World Bank News

The Latest: World Bank ups climate funding to $200 billion

Dec. 3, 2018 2:27 AM EST

KATOWICE, Poland (AP) — The Latest on the U.N. climate talks taking place in Katowice, Poland (all times local): 2 a.m. The World Bank Group says it is doubling funding for poor countries preparing for climate change to $200 billion over five years. The Washington-based organization said Monday that about...

Lebanon's economy faces stark choice: Reform or collapse

Nov. 22, 2018 9:10 AM EST

BEIRUT (AP) — Lebanon marked 75 years of independence with a military parade Thursday in Beirut, but many anxious Lebanese feel they have little to celebrate: the country's corruption-plagued economy is dangerously close to collapse and political bickering over shares in a new Cabinet is threatening to...

Denmark, citing human rights, withholds some aid to Tanzania

Nov. 15, 2018 11:01 AM EST

KAMPALA, Uganda (AP) — Denmark is cutting about $10 million in aid to the government of Tanzania over what it called "negative developments" in human rights in the East African country. Ulla Tornaes, Denmark's minister for development cooperation, said on Twitter she is "deeply concerned" by developments...

Heads of World Bank, IMF say risks of trade tensions growing

Nov. 6, 2018 8:18 AM EST

BEIJING (AP) — Leaders of the World Bank, International Monetary Fund and other global financial organizations warned Tuesday that trade tensions pose a growing risk for emerging economies. With the U.S. and China embroiled in their worst trade conflict in decades, global growth has "plateaued and some...

World Bank: Venezuela exodus costs Colombia up to $1 billion

Nov. 2, 2018 7:22 PM EDT

BOGOTA, Colombia (AP) — The World Bank is estimating it will cost Colombia upward of $1 billion to tend to the surge of Venezuelan migrants fleeing their nation's economic and humanitarian crisis. In a report published Friday, bank analysts conclude Colombia will need to make substantial investments in...

World Bank, IDB approve $1.8 billion in loans to Argentina

Nov. 1, 2018 4:18 PM EDT

WASHINGTON (AP) — The World Bank and the Inter-American Development Bank are providing Argentina with three loans totaling more than $1.8 billion, aiming to help the South American country cope with financial difficulties and support citizens most at risk. The World Bank said Thursday in a press release...

IMF-World Bank ends meetings with call to brace for risks

Oct. 13, 2018 4:55 AM EDT

NUSA DUA, Indonesia (AP) — Global financial leaders wrapped up an annual meeting of the International Monetary Fund and World Bank on Saturday by urging countries to brace for potential risks from trade disputes and other tensions. The meetings in Bali, Indonesia, this week were overshadowed by a spate of...

The Latest: IMF's Lagarde planning to attend Saudi meeting

Oct. 13, 2018 3:55 AM EDT

NUSA DUA, Indonesia (AP) — The Latest on the annual meeting of the International Monetary Fund and World Bank in Bali, Indonesia (all times local): 3:55 p.m. The managing director of the International Monetary Fund, Christine Lagarde, has said she still intends to attend an investment conference in Saudi...

UN secretary general visits quake-hit Indonesian city

Oct. 12, 2018 6:05 AM EDT

JAKARTA, Indonesia (AP) — U.N. Secretary-General Antonio Guterres on Friday visited an Indonesian city shattered by an earthquake and tsunami to personally assess the impact of the disasters. Guterres is attending the annual meetings of the International Monetary Fund and World Bank on the island of Bali....

Indonesian president says trade wars too destructive

Oct. 12, 2018 5:18 AM EDT

NUSA DUA, Indonesia (AP) — Indonesian President Joko "Jokowi" Widodo added to a chorus of criticism Friday over trade friction between the U.S. and China, telling financial leaders gathered in Bali, Indonesia, that victory in a trade war would be pointless in a "sinking world." Widodo's comments at the...