worldbank
Established 80 years ago, in July 1944, at a time before many developing countries had gained independence, the Bretton Woods institutions reflect the governance and priorities of a very different era. Yet, despite their shortcomings, the two institutions remain critical instruments through which European countries can mobilise climate and development finance for low- and middle-income countries — and, in doing so, pursue Europe’s own climate ambitions. The World Bank (often described simply as The Bank) plays a unique role in the international system. Its central function — to leverage shareh...
Euronews (English)
The second and final day of the Ukraine Recovery Conference in Berlin concluded with a pledge to support Ukraine's critical infrastructure ahead of a cold winter. During his speech and at a press conference with German Chancellor Olaf Scholz on the first day of the conference, Ukrainian President Volodymyr Zelenskyy appealed to his Western counterparts to help Ukraine rebuild and decentralise its energy infrastructure. Increased Russian attacks on Ukraine's energy networks and power plants have forced the government to introduce rolling blackouts in all major cities for several hours a day and...
Euronews (English)
Climate finance talks at the Bonn Climate Conference on Tuesday ended in a stalemate as countries failed to make any concrete progress on the issue. It has been at the centre of discussions in Germany with nations needing to agree on the New Collective Quantified Goal (NCGQ) at COP29 in Baku this November. This is the amount of money developed countries need to mobilise each year from 2025 to support climate action in developing nations. But there have been serious disagreements over how much this should be, who should be prioritised for finance, what form this money takes and what counts as a...
Euronews (English)
A World Bank forecast reports that the global economy is stabilizing for the first time in three years, despite geopolitical tensions and high interest rates - albeit at a low level. As in the previous year, the global economy will grow by 2.6% this year, the World Bank announced in Washington on Tuesday. This is a slight rise on the level it had forecast in January at plus 0.2 percentage points. For the years 2025 and 2026, the World Bank predicts economic growth of 2.7%. The report says the global economy finally seems to be heading for a so-called soft landing. This means less inflation wit...
DPA Breaking News
Washington (AFP) - The World Bank raised its global growth outlook on Tuesday on the back of resilient consumer spending in the United States, but warned that growth remains weak by historical standards. In updated forecasts, the Washington-based development lender said it now expects the world economy to grow by 2.6 percent this year in real terms, up 0.2 percentage points from its last update in January. Its global growth forecast for 2025 remains unchanged at 2.7 percent -- below the average rate of 3.1 percent seen in the decade before the Covid-19 pandemic. "Growth is at lower levels tha...
AFP
The World Bank said that 1.8 million more Ukrainians are living in poverty than in 2020, in a report released on May 29. The report was based on a survey conducted in collaboration with the Kyiv International Institute of Sociology (KIIS). It found that 9 million Ukrainians, out of a total estimated population of 32 million, were living in poverty. While the situation is dire, the World Bank said it would be much worse if Ukraine had not received foreign aid to help pay for pensions and salaries. "If international partners, especially the U.S., had not crowded in resources specifically tailore...
Kyiv Independent
The World Bank said that 1.8 million more Ukrainians are living in poverty than in 2020, in a report released on May 29. The report was based on a survey conducted in collaboration with the Kyiv International Institute of Sociology (KIIS). It found that 9 million Ukrainians, out of a total estimated population of 32 million, were living in poverty. While the situation is dire, the World Bank said it would be much worse if Ukraine had not received foreign aid to help pay for pensions and salaries. "If international partners, especially the U.S., had not crowded in resources specifically tailore...
Kyiv Independent (CA)
The World Bank said that 1.8 million more Ukrainians are living in poverty than in 2020, in a report released on May 29. The report was based on a survey conducted in collaboration with the Kyiv International Institute of Sociology (KIIS). It found that 9 million Ukrainians, out of a total estimated population of 32 million, were living in poverty. While the situation is dire, the World Bank said it would be much worse if Ukraine had not received foreign aid to help pay for pensions and salaries. "If international partners, especially the U.S., had not crowded in resources specifically tailore...
Kyiv Independent (UK)
Editor’s note: This is issue 57 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from May 20–26, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. World Bank prioritiesParliament adopted a draft law on vehicle insurance. On May 21, the Verkhovna Rada, Ukraine's parliament, adopted draft law #8300 on mandatory civil liability insurance of land vehicle owners. The draft law is aimed to harmonize Uk...
Kyiv Independent
Editor’s note: This is issue 57 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from May 20–26, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. World Bank prioritiesParliament adopted a draft law on vehicle insurance. On May 21, the Verkhovna Rada, Ukraine's parliament, adopted draft law #8300 on mandatory civil liability insurance of land vehicle owners. The draft law is aimed to harmonize Uk...
Kyiv Independent (CA)
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