Latest World Bank News
In diesel-dependent East Timor, renewable energy transition remains slow despite government pledges
JAKARTA, Indonesia (AP) — East Timor is at an energy development crossroads. While the small Southeast Asian nation — and one of the world's youngest countries — has made international and domestic pledges to reduce its carbon footprint through untapped solar and other...
East Timor looks to the pope's visit as a reward after 20 years of fragile stability
DILI, East Timor (AP) — East Timor is in a festive mood as it prepares for the arrival of Pope Francis on his first trip to the deeply Catholic country, hard on the heels of the 25th anniversary of the referendum on independence from Indonesia. Francis is due to arrive Monday in...
The trash in Mali's capital is piling up. Donkey carts are coming to help
BAMAKO, Mali (AP) — When handling the garbage of a city of over 3 million people and equipped with little more than a face mask and gloves, it helps to have a sense of humor. Yacouba Diallo decided to name the two donkeys that pull his cart after his cousins, Keita and Kanté. ...
Former Mozambique finance minister on trial in US over 'tuna bond' scandal that spurred debt crisis
NEW YORK (AP) — The “ tuna bond ” scandal that shook Mozambique's economy is washing into a U.S. court, where a former Mozambican finance minister is being tried on charges that he took bribes to commit his country — secretly — to huge loans that prosecutors say got looted. ...
Kenya's urban population is growing. The need for affordable housing is, too
NAIROBI, Kenya (AP) — In the heart of the crowded Kibera neighborhood in Kenya's capital, Jacinter Awino shares a small tin house with her husband and four children. She envies those who have escaped such makeshift homes to more permanent dwellings under the government’s affordable housing...
Nigeria bets on a new $2.25B World Bank loan to support reforms that have resulted in hardship
ABUJA, Nigeria (AP) — The World Bank has approved a $2.25 billion loan for Nigeria to shore up revenue and support economic reforms that have contributed to the worst cost-of-living crisis in many years for Africa’s most populous country. The bank said in a statement late...
Myanmar's economy in crisis as civil strife disrupts trade and livelihoods
BANGKOK (AP) — Myanmar, once a thriving emerging economy, is struggling to regain momentum as the country’s civil war increasingly disrupts trade and livelihoods. World Bank economists estimate the country's economy grew at a 1% annual pace in the year that ended in March, more...
