Latest World Bank News

Lebanon to receive Jordan electricity via Syria, deal signed

Jan. 26, 2022 13:36 PM EST

BEIRUT (AP) — Lebanon signed deals on Wednesday to purchase electricity from Jordan via Syria to help the small Mediterranean country deal with its crippling energy crisis. The deals are expected to bring Lebanon up to 250 megawatts of electricity a day within two months, enough...

World Bank: Lebanon's meltdown threatens social peace

Jan. 25, 2022 13:07 PM EST

BEIRUT (AP) — Lebanon’s economy contracted by more than 58%, the World Bank said Tuesday, warning in a report that the small country’s financial meltdown poses a threat to long-term stability and social peace. It accused Lebanese leaders of being indifferent to the nation’s...

EXPLAINER: Why effort to help Afghanistan is falling short

Jan. 24, 2022 11:26 AM EST

WASHINGTON (AP) — As winter deepens, a grim situation in Afghanistan is getting worse. Freezing temperatures are compounding misery from the downward spiral that has come with the fall of the U.S.-backed government and the Taliban takeover. Aid groups and international agencies...

Outbreaks, bottlenecks expected to slow global growth in '22

Jan. 11, 2022 10:49 AM EST

WASHINGTON (AP) — The World Bank is downgrading its outlook for the global economy, blaming continuing outbreaks of COVID-19, a reduction in government economic support and ongoing bottlenecks in global supply chains. The 189-country, anti-poverty agency forecasts worldwide...