The $4bn increase shows progress but is well short of the trillions of dollars in additional resources needed annually to finance the clean energy transition
More than 100 countries, such as China, India, Brazil, and South Africa, face serious obstacles that could hinder their efforts to become high-income countries in the next few decades, reveals World Bank’s recent report
Lebanon’s multiple crises include a contracting economy, lack of governance and tensions in the region causing an influx of refugees
European officials say they want to help Egypt become more resilient by boosting investment in the private sector
The World Bank projects that the support programme will create jobs, strengthen the economy, and enhance Egypt’s resilience to environmental and economic challenges
The agreements seek to eliminate double taxation, additional taxes, indirect taxes, and tax evasion while addressing cross-border trade challenges
Growth in Saudi Arabia is projected to grow by 4.1 per cent this year, rising to 4.2 per cent next year
The former World Bank executive also talks about the hard choices the world has to make to get to net zero
The meeting also addressed global economic conditions, the economic impact of crises, and the World Bank’s support for the upcoming UN climate conference
Geopolitical tensions heightened by the Middle East crisis pose the biggest threat to the world economy
The Indian-born US citizen said he was calling on member countries to replenish the bank’s Crisis Response Window, with a goal of raising $4bn
The IMF and the World Bank, which are holding their annual annual meet in Morocco said the ongoing violence in Israel threatened to darken the already tepid global economic outlook
The World Bank has forecasted a 2.8 per cent growth in the UAE’s real GDP for this year
The French president hosted world leaders to discuss new ways to support climate financing
The two-day Paris gathering aimed to overhaul the climate finance system that is targeted at countries most vulnerable to global warming
The economies of the Gulf Cooperation Council are projected to grow by 2.5 per cent in 2023 and 3.2 per cent in 2024
The framework’s projects will be supported with $7bn in lending, comprising of $1bn a year from the International Bank for Reconstruction and Development
Over the next two years, per-capita income growth in emerging market and developing economies is projected to average 2.8 per cent, a full percentage point lower than the 2010-2019 average
Many governments improved their electricity access policies, with Sub-Saharan Africa and Latin America and the Caribbean scoring the highest on this indicator
A region already suffering from chronic youth unemployment must innovate and train the next generation
Covid-19 has exacerbated women’s challenges in employment and education
The dual shock of lower Brent prices and the coronavirus pandemic this year has taken an especially heavy toll on the region
Mustapha Adib quit on Saturday after a meeting with President Michel Aoun in Baabda near the capital, Beirut
Offers for help flow from all over the world, GCC countries lead response
The top five destination countries for remittances were India, Pakistan, Philippines, Egypt and the US
The US has long been the top source for outflows, with other major countries including the United Arab Emirates, Saudi Arabia, Switzerland, Germany and Russia
Jim Yong Kim’s resignation takes effect from February 1