WASHINGTON, Nov 17, 2021 — Remittances to low- and middle-income countries are projected to have grown a strong 7.3 percent to reach $589 billion in 2021. This return to growth is more robust than earlier estimates and follows the resilience of flows in 2020 when remittances declined by only 1.7 percent despite a severe global recession due to COVID-19, according to estimates from the World Bank’s Migration and Development Brief released today.
As our annual Law, Justice, and Development Week draws to a close, I am proud that we are launching publicly the first World Bank Group Anti-Racism Charter. The Charter is an aspirational, non-binding document, and a significant milestone in our ongoing work to tackle racism and racial discrimination in our workplaces, development work, and local communities. Let me explain how it fits into our efforts, and what it means for us going forward.
What is the link between plastics and hurricanes Sandy and Katrina in the United States, melting glaciers in Antarctica, summer heat waves and erosion of coastal areas in Australia, and other natural disasters hitting us with greater frequency? We blame climate change for that. However, the contribution of plastic waste and the plastics industry to climate change is often less known or worse, disregarded.
Ahead of the IDA20 Replenishment pledging meeting in Tokyo next month, the proposed replenishment package is now at an advanced stage. At this meeting, the IDA20 Deputies’ Report will be tabled for endorsement by IDA Deputies and Borrower Representatives. Before this happens, the public is invited to review the draft IDA20 Deputies’ Report and provide comments before November 26.
- If not phased out before 2040, coal will push the world closer to climate change catastrophe.
- Experience has shown that the shift from coal can take decades and present not only economic and employment challenges, but social and cultural ones.
- The Supporting Energy Transition in Coal Regions initiative provides advice and financing to countries that have made the decision to transition away from coal.
At a time when sovereign debt in the poorest countries has surged to dangerously high levels, global and country-by-country systems for tracking it are proving to be inadequate. A new report marks the first comprehensive assessment of the global and national systems for monitoring sovereign debt.
Manufacturing is key to development by building economic complexity through industrialization. As the manufacturing sector adds new capabilities to produce more products, participates in value chains, and adds process technologies, this results in more resources and materials being used. Circular economy models are necessary to replace the make, use and dispose linear production model.
The manufacturing sector is now focusing on its crucial role in conserving resources, eliminating waste, and transitioning into more regenerative business models where repairing, reusing, and recycling products replaces simply disposing of them.
The third IFC Global Manufacturing Conference will address the critical questions regarding Circular Economy and provide a dynamic forum for exploring the future of manufacturing.
When you think of climate migration, you probably think of people moving from one country to another to escape rising seas or expanding deserts. And to some extent, you’d be right. But the fact is,
The findings of our new Groundswell report forecast that Hotspots of climate migration may start to emerge as early as 2030, as people leave places that can no longer sustain them and go to areas that offer opportunities. The drivers of these migrations, according to the report, will be water scarcity, declining crop productivity and sea-level rise.