World Bank Group Advances Gender Strategy, Unveils Economic Opportunity Ambitions
World Bank
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12h ago
The World Bank Group today took the first steps toward implementing Gender Strategy 2030, announcing a set of actions and concrete goals that aim to boost economic opportunities for more women.  The targets, unveiled at a flagship event during the 2024 World Bank Group Annual Meetings, will focus on use of broadband, social protection, and access to capital ..read more
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Ending Poverty for Half the World Could Take More Than a Century
World Bank
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12h ago
At today’s feeble pace, it could take more than a century to eliminate poverty as it is defined for nearly half the world – people who live on less than $6.85 per day, according to the World Bank’s new Poverty, Prosperity, and Planet Report. The report offers the first post-pandemic assessment of global progress toward eradicating poverty and boosting shared prosperity on a livable planet ..read more
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Japan signs $1 billion portfolio guarantee with World Bank
World Bank
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12h ago
The guarantee falls under a new Portfolio Guarantee Platform with leveraging ability that allows Japan’s $1 billion commitment to enable new funding of $6 billion over 10 years. The platform permits shareholders with high credit ratings to step in if a borrower fails to pay back a loan from the International Bank for Reconstruction and Development (IBRD), a member of the World Bank Group ..read more
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World Bank Group Announces Strategic Pivot in Agribusiness, Doubles Financial Commitment
World Bank
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12h ago
The new approach arrives as four trends are fundamentally reshaping the agribusiness landscape: climate change, innovations in finance, digitalization, and solutions to fragmentation. It also aims to take advantage of demand for food that is set to increase by 60 percent in the coming decades, and respond to a critical need for jobs in emerging markets ..read more
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Spain Announces Early Financial Commitment of €400 Million to IDA, a Near 40% Increase in Pledge
World Bank
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12h ago
This is a 37% increase compared to the previous IDA replenishment cycle and underscores Spain’s continued commitment to sustainable development worldwide. This raises Spain’s total contribution to over €5 billion since IDA’s creation. The announcement was made on the sidelines of the World Bank Group-IMF Annual Meetings and comes weeks ahead of the final 21st replenishment (IDA21) meeting in December ..read more
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Oversupply Could Mute Effects of Wider Middle-East Conflict on Oil Prices
World Bank
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12h ago
Global commodity prices are set to tumble to a five-year low in 2025 amid an oil glut that is so large that it is likely to limit the price effects even of a wider conflict in the Middle East, according to the World Bank’s latest Commodity Markets Outlook. Even so, overall commodity prices will remain 30% higher than they were in the five years before the COVID-19 pandemic ..read more
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1.2 Billion People at High Risk from Climate Change Worldwide
World Bank
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12h ago
1.2 billion people face life-changing risks through exposure to at least one critical climate hazard, such as heatwaves, flooding, hurricanes, and drought. However, a new report from the World Bank Group outlines how faster development and sustainable economic growth can reduce climate change-related economic and quality of life losses ..read more
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Poorest Economies Face Toughest Conditions in Two Decades
World Bank
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1w ago
The world’s 26 poorest economies—home to about 40 percent of all people who live on less than $2.15 a day—are deeper in debt than at any time since 2006 and increasingly vulnerable to natural disasters and other shocks, new analysis from the World Bank shows. Yet international aid as a share of their GDP has dwindled to a two-decade low, forcing many to obtain financing on punishing terms ..read more
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Implementation Gaps Hinder Business Climate in 50 Economies
World Bank
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1w ago
Economies do better at enacting regulations to improve the national business climate than they do in providing the public services needed to secure actual progress, according to the World Bank Group’s new Business Ready report ..read more
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Climate Finance Fiscal Year 2024 Snapshot
World Bank
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3w ago
The World Bank Group delivered a record $42.6 billion in climate finance in fiscal year 2024—which covers July 1, 2023 to June 30, 2024—supporting efforts to end poverty on a livable planet, investing in cleaner energy, more resilient communities, and stronger economies. This is a 10% increase in climate finance compared to the previous year ..read more
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