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EXPLAINED: 12 - The Real Truth

Somalia secures $4.5 billion debt relief deal with international creditors

Somalia has secured a $4.5 billion debt relief deal from its international creditors,

The Independent UK

World Bank Economist Forecasts Long-lasting High Interest Rates

Amid a whirling dervish of economic uncertainties, a World Bank economist paints a vivid portrait of sustained high interest rates. Buckle up for a long ride.

Top News

Myanmar's economy is deteriorating as its civil conflict intensifies, World Bank report says

The World Bank says Myanmar’s economy is forecast to grow only 1% in the fiscal year that ends in March

The Independent UK

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For Myanmar’s generals, energy crisis threatens shaky grip on power

Min Aung Hlaing’s administration is facing energy shortages as it struggles to quell opposition to its rule.

Al Jazeera

World Bank Faces Accusations of 'Turning Blind Eye' to Sexual Abuse in Kenyan Schools

The World Bank's failure to act on early warnings and reports of sexual abuse has perpetuated a culture of impunity.

International Business Times UK

Don't applaud the climate summit's loss and damage fund deal just yet – it might not warrant that standing ovation

Shortly after the opening ceremony of the 2023 United Nations climate negotiations in Dubai, delegates of nations around the world rose in a standing ovation to celebrate a long-awaited agreement to launch a loss and damage fund to help vulnerable countries recover from climate-related disasters.

The Conversation

World Bank accused of ‘turning blind eye’ to sexual abuse in Kenyan schools it funded

Calls grow for independent inquiry after the bank’s internal watchdog found 21 cases of child sexual abuse by teaching staff

The Guardian - UK

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World Bank recalls paper on decline in toilet usage in India

The paper titled “Progress on Sanitation in Rural India: Reconciling Diverse Evidence”, was published in September this year.

The Hindu

World Bank To Operate 'Loss And Damage' Climate Fund

The World Bank will "operate" an ambitious new climate change fund, but donors and recipients will likely control how the money is actually spent, the head of the development lender said Friday.

International Business Times

COP28 climate summit just approved a 'loss and damage' fund. What does this mean?

Day one of the COP28 climate summit saw the first big breakthrough: agreement on a “loss and damage” fund to compensate poor states for the effects of climate change.

The Conversation

Who’s who at Cop28: the leaders with the world’s future in their hands

From fossil fuel chiefs to an outspoken UN secretary general, a look at who will attend the UAE’s climate summit

The Guardian - UK

Africa's young leaders demand financial aid to combat extreme weather events

Young people in Africa have called on developed countries to double the funding for climate change adaptation in Africa.

Radio France Internationale

Malnutrition in Pakistan: Over 40% of children under five suffer from stunted growth

According to a recent World Bank report, more than 40 percent of children under the age of five in Pakistan suffer from stunted growth. The situation is especially worrying for some villages in Sindh province, where 66 percent of under-fives are affected. Stunting is closely linked to brain development and…

France 24

Cop28 host UAE breaking its own ban on routine gas flaring, data shows

Exclusive: Fields run by climate summit host have burned gas near daily despite 20-year-old pledge, satellite monitoring reveals

The Guardian - UK

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The Conversation

West Africa’s plastic waste could be fuelling the economy instead of polluting the ocean: experts

Plastic pollution is an urgent environmental issue, globally. Every year, about eight million tonnes of plastic end up in the oceans.

The Conversation

Projects funded by the World Bank Group's private sector arm fuel violent conflict – it's time to reform the system

To what extent does private investment help developing countries to reduce conflict and violence and to achieve the Sustainable Development Goals?

The Hindu

Chief Secretary-led high-level steering committee formed for World Bank-aided KERA project in agriculture sector

The Conversation

World Bank suspension of Uganda funds over anti-homosexuality law: what this says about the struggle over funds and sovereignty

The World Bank issued a statement on 8 August 2023, announcing that it had effectively suspended all new public financing to Uganda over concerns with the country’s anti-homosexuality law, which “fundamentally contradicts the World Bank Group’s values”.

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The Independent UK

Stage set for conflict at COP28 with mixed response to outcome of key climate talks

Tense negotiations at the final meeting on a climate-related loss and damages fund — an international fund to help poor countries hit hard by a warming planet — ended Saturday in Abu Dhabi, with participants agreeing that the World Bank would temporarily oversee the fund for the next four years

The Guardian - UK

Climate crisis talks resume on ‘loss and damage’ funding for poorest countries

World leaders will reconvene in Abu Dhabi before UAE’s Cop28 after talks broke down two weeks ago

The Conversation

What Revolut’s attempt to secure a UK banking licence could mean for its current customers and for the 'unbanked'

Last year, the CEO of financial technology (fintech) company Revolut added a UK banking license to his 2022 Christmas wish list, telling startup news outlet Sifted: “I would love to have it as a Christmas present. A present for me personally and for the business.”

The Independent UK

Oil prices could reach 'uncharted waters' if the Israel-Hamas war escalates, the World Bank says

The World Bank says oil prices could be pushed into “uncharted waters” if the violence between Israel and Hamas intensifies

The Guardian - UK

World Bank warns oil price could soar to record $150 a barrel

Escalation of Israel-Hamas war into Middle East-wide conflict would disrupt oil supplies and stoke food prices, says Bank

The Hindu

International experts to feature in Keraleeyam seminars

Keraleeyam 2023: 20+ int'l experts to lead 25 seminars. Robin Jeffrey, Patrick Heller to discuss Kerala economy. Richard A. Cash to lecture on pandemic. Prakash Kalarickal, Glenn Denning to speak on dairy, food security. World Bank's Dilip Ratha, Rajai Jureidhini from Hamad Bin Khalifa Univ. to join.

The Conversation

The World Bank and the IMF need to keep reforming to become fit for purpose

The World Bank and the International Monetary Fund are being challenged to make substantial reforms so that they become fit for purpose in the 21st century.

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