#world bank


EXCLUSIVE: Former World Bank MD says ‘global governance under stress’

The former World Bank executive also talks about the hard choices the world has to make to get to net zero


UAE President Sheikh Mohamed bin Zayed meets World Bank President Ajay Banga

The meeting also addressed global economic conditions, the economic impact of crises, and the World Bank’s support for the upcoming UN climate conference

Ajay Banga, president of the World Bank Group

World Bank chief Ajay Banga warns of economic headwinds for global economy

Geopolitical tensions heightened by the Middle East crisis pose the biggest threat to the world economy

climate change world bank

World Bank’s Banga eyes longer, cheaper loans as mission expands to climate

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


Israel-Hamas conflict is ‘new cloud’ darkening economic outlook: IMF chief

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

UAE economy

UAE economy primed for stronger growth in H2 2023

The World Bank has forecasted a 2.8 per cent growth in the UAE’s real GDP for this year


Macron calls for fresh overhaul of global taxation to support climate finance: Paris Summit

The French president hosted world leaders to discuss new ways to support climate financing

COP28 president designate

Dr Sultan Al Jaber calls for solidarity before COP28 conference

The two-day Paris gathering aimed to overhaul the climate finance system that is targeted at countries most vulnerable to global warming

World Bank non-oil

World Bank expects UAE’s non-oil economy to grow by 4.8% in 2023

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

World Bank Egypt

World Bank approves five-year plan to support Egypt development

The framework’s projects will be supported with $7bn in lending, comprising of $1bn a year from the International Bank for Reconstruction and Development

Global economy ‘slowing sharply’, projected to grow by 1.7% in 2023, says World Bank

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

Rise report 2022

Covid-19 recovery efforts triggered new energy access policies, reveals new World Bank report

Many governments improved their electricity access policies, with Sub-Saharan Africa and Latin America and the Caribbean scoring the highest on this indicator

How should regional economies strive today to create the ‘jobs of tomorrow’

A region already suffering from chronic youth unemployment must innovate and train the next generation

Women on average have just 76% of men’s legal rights worldwide

Covid-19 has exacerbated women’s challenges in employment and education

World Bank sees 5.2% contraction in MENA, in line with IMF

The dual shock of lower Brent prices and the coronavirus pandemic this year has taken an especially heavy toll on the region

Mustapha Adib Lebanon

Lebanon PM-designate steps down, unable to form government

Mustapha Adib quit on Saturday after a meeting with President Michel Aoun in Baabda near the capital, Beirut

GCC states, World Bank say ready to support Lebanon after blast

Offers for help flow from all over the world, GCC countries lead response

Outward personal remittances from the UAE in Q1 2020 increased 7.8% y-on-y

The top five destination countries for remittances were India, Pakistan, Philippines, Egypt and the US

World Bank sees record 20% slump in remittances due to virus

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

World Bank President Jim Yong Kim

The president of the World Bank resigns

Jim Yong Kim’s resignation takes effect from February 1