For world's poorest nations, the economic outlook is bleak
As interest rates soar and the economy slows, the World Bank sees an 'enduring setback' for developing economies due to high interest rates, war in Europe and the pandemic.
World Bank Group
Founded in 1944, the Washington-based World Bank Group provides financial and technical assistance to developing countries around the world. Its mission is to fight poverty and to help people help themselves and their environment.
Researchers find 1.77B children worldwide lack basic safety net
The number of children without basic social protections is increasing worldwide, UNICEF and ILO say in a new study.
Biden picks former Mastercard CEO to replace the World Bank's leader
As the largest shareholder in the World Bank, the United States traditionally nominates candidates for a five-year term as president. They are vetted by the bank’s executive board.
African nations pay 'extortionate' interest rates on debt, U.N. chief says
Women and girls still don't get the support they need, U.N. Secretary-General António Guterres said, and African nations cannot develop with "one hand tied behind their backs."
Watchdog finds scant progress in fight against corruption
As the world becomes a less peaceful place, a new report finds a clear connection between more violence and corruption.
Flood aid conference raises US$9B for Pakistan rebuilding
Climate-induced devastating floods submerged a third of Pakistan last year, affecting 33 million people and leaving 1,739 dead, and could force 9 million people into poverty.
Global Fund has US$15.7 billion finish but misses its fundraising goal
Based on a final tally for its seventh replenishment cycle, the board said it has approved spending US$13.7 billion in more than 120 countries over the next three years to fight HIV, TB and malaria and strengthen those nations' health systems.
World bankers meet against backdrop of global inflation and recession threats
With leadership under fire and a community facing an historic convergence of crises, finance ministers and central bankers met at the World Bank and IMF.
Hunger caused by climate change, conflicts and rising prices threaten millions in the developing world
While you are reading this sentence, another man, woman or child will have died of starvation. That’s the message of an open letter from hundreds of NGOs.
War in Ukraine accelerates poverty and starvation
Skyrocketing food and energy prices caused by Russia's invasion of Ukraine pushed 71 million more people into extreme poverty, UNDP reported.
Ukraine maps US$750B postwar recovery plan
More than 40 nations and international organizations signed onto a roadmap for Ukraine's recovery with longterm financial, political and technical support.
WTO tackles food, vaccines, fishing subsidies
Hunger, vaccine patents and fishing subsidies top the agenda as the global trade body holds its first ministerial conference in four and a half years.
Pandemic, climate, economy top Davos Agenda
Despite U.S.-China tensions, leaders touted cooperation on the pandemic, climate action, and economic recovery during the Davos Agenda virtual gathering.
More than US$5 billion aid sought for Afghans
Afghanistan needs more than $5 billion in aid to avert looming humanitarian and economic crises, the United Nations said in its largest-ever such appeal.
COVAX expands with World Bank backing
The World Bank approved US$2 billion in financing for COVID-19 vaccines in 17 developing countries as part of a two-year US$12 billion package.
U.N. study shows 'horrifying' violence against women
About 30% of all women worldwide have been subjected to physical or sexual violence at least once during their lives, U.N. agencies found in a survey.