Latest World Bank News

A worker wearing a face mask to help protect against the spread of the new coronavirus cleans near a bank's currency advertisement board in Seoul, South Korea, Friday, June 26, 2020. (AP Photo/Ahn Young-joon)

The Latest: More virus cases in Seoul as new clusters emerge

Jun. 26, 2020 11:11 PM EDT

SEOUL, South Korea — South Korea has reported 51 more confirmed coronavirus cases as new clusters emerge in the densely populated Seoul area where people have been increasingly venturing out despite government warnings against complacency. Thirty-five of the new cases are in the capital region, which is at...

Correction: Nile Dam-Talks story

Jun. 18, 2020 3:41 AM EDT

CAIRO (AP) — In a story published June 17, 2020, about talks between three Nile basin countries on construction of a hydroelectric dam in Ethiopia, The Associated Press erroneously reported that the World Bank was involved in crafting a deal that could end a dispute among the three countries over the...

World Bank: world will suffer largest downturn since 1940s

Jun. 8, 2020 11:16 AM EDT

WASHINGTON (AP) — The World Bank said Monday the world is facing an unprecedented health and economic crisis that has spread with astonishing speed and will result in the largest shock the global economy has witnessed in more than seven decades. Millions of people are expected to be pushed into extreme...

Palestinian children play on a cart outside their house in a slum on the outskirts of Khan Younis Refugee Camp, in the southern Gaza Strip, Monday, June 1, 2020. (AP Photo/Khalil Hamra)

World Bank: Palestinian economy could shrink by 11%

Jun. 1, 2020 10:52 AM EDT

JERUSALEM (AP) — The Palestinian economy could shrink by as much as 11% in the coming year as the coronavirus pandemic inflicts yet another blow to the Palestinian Authority's already shaky finances, the World Bank said Monday. The economic deterioration comes as tensions with Israel soar ahead of Israel's...

FILE- In this file photo taken Thursday, April 30, 2020, Women carrying their children lineup to receive vegetables from the Jan Hofmeyer community services in the Vrededorp neighborhood of Johannesburg. South Africa is struggling to balance its fight against the coronavirus with its dire need to resume economic activity. The country with the Africa’s most developed economy also has its highest number of infections — more than 19,000.  (AP Photo/Jerome Delay, file)

UN chief warns leaders pandemic may cause historic famine

May. 28, 2020 7:41 PM EDT

UNITED NATIONS (AP) — The U.N. chief on Thursday warned the largest gathering of world leaders since the coronavirus pandemic began that it will cause “unimaginable devastation and suffering around the world,” with historic levels of hunger and famine and up to 1.6 billion people unable to...

FILE - In this Friday, Jan. 24, 2020 file photo, a farmer's son raises his arms as he is surrounded by desert locusts while trying to chase them away from his crops, in Katitika village, Kitui county, Kenya. Locusts, COVID-19 and deadly flooding pose a

Locusts, COVID-19, flooding pose 'triple threat' in Africa

May. 21, 2020 6:26 PM EDT

KAMPALA, Uganda (AP) — Locusts, COVID-19 and deadly flooding pose a “triple threat” to millions of people across East Africa, officials warned Thursday, while the World Bank announced a $500 million program for countries affected by the historic desert locust swarms. A new and larger...