Category Archives: WBG News & Reports

World Bank Group Stands with Ukraine and its People

Posted on by

Prepares to support countries in the region affected by the conflict World Bank building

WASHINGTON, Feb. 24, 2022—David Malpass, President of the World Bank Group, today released the following statement: 

“The World Bank Group is horrified by the shocking violence and loss of life as a result of the events unfolding in Ukraine. We are a long-standing partner of Ukraine and stand with its people at this critical moment.

Today, I discussed the situation with our Board of Directors and have mobilized our Global Crisis Risk Platform to accelerate coordination across the World Bank Group.

The devastating developments in Ukraine will have far-reaching economic and social impacts. We are coordinating closely with the IMF to assess these costs.

When I met with President Zelenskyy in Munich on Saturday, I reaffirmed the World Bank Group’s strong support and commitment to the people of Ukraine and the region.

We stand ready to provide immediate support to Ukraine and are preparing options for such support, including fast-disbursing financing. Alongside development partners, the World Bank Group will use all our financing and technical support tools for rapid response.

The World Bank Group is also in active dialogue to support neighboring countries and people that may be affected by this conflict and will make additional resources available.”

Prepares to support countries in the region affected by the conflict 

WASHINGTON, Feb. 24, 2022—David Malpass, President of the World Bank Group, today released the following statement: 

“The World Bank Group is horrified by the shocking violence and loss of life as a result of the events unfolding in Ukraine. We are a long-standing partner of Ukraine and stand with its people at this critical moment.

Today, I discussed the situation with our Board of Directors and have mobilized our Global Crisis Risk Platform to accelerate coordination across the World Bank Group.

The devastating developments in Ukraine will have far-reaching economic and social impacts. We are coordinating closely with the IMF to assess these costs.

When I met with President Zelenskyy in Munich on Saturday, I reaffirmed the World Bank Group’s strong support and commitment to the people of Ukraine and the region.

We stand ready to provide immediate support to Ukraine and are preparing options for such support, including fast-disbursing financing. Alongside development partners, the World Bank Group will use all our financing and technical support tools for rapid response.

The World Bank Group is also in active dialogue to support neighboring countries and people that may be affected by this conflict and will make additional resources available.”

An Accessible Future for Persons with Disabilities

Posted on by

120 kilometers south of Kigali, in a remote part of Southern Rwanda’s Huye District, dl1b0245wb-iei-rwanda-1-900x1350 lies the G.S. Kabuga school.  

Warm sunshine—with the occasional drizzle of rain—greets students as they trickle into class on a Monday morning. Led by their class prefect and teacher, the kids assume their seats inside a spacious classroom with two large blackboards on opposing flanks. One learner, a wheelchair user, rolls up alongside a bench and shuffles in alongside a classmate. 

“Children with disabilities are just like other children,” remarks Brother Jovite Sindayigaya, headmaster at the school. “The country needs them and so does the world in general. I get happiness from seeing them succeed.” 

G.S. Kabuga is one of 3,388 schools in Rwanda that have benefitted from reconstruction and refurbishment efforts, funded by the government of Rwanda and the World Bank, with technical assistance provided by the Bank’s Inclusive Education Initiative. In the span of just one year, 22,505 classrooms across all 30 districts of Rwanda were built or refurbished with some accessibility features for learners with disabilities.

FULL ARTICLE

Addressing fragility is critical for development

Posted on by

The outlook for people in developing countries remains grim.  The COVID-19 pandemic anddm_fcv_blog_feb_17_1140 related shutdowns are challenging the effectiveness of civil and institutional structures around the world and adding to fragility and violence, resulting in interrelated crises for foreign policy, development, and economics.

Continue reading →

What You Need to Know About Oceans and Climate Change

Posted on by
Oceans play a critical role in regulating the climate, but how healthy are our oceans todayClimate-Explainer-Series-banner and what kind of impact is climate change having? We sat down with Charlotte De Fontaubert, Global Lead for the Blue Economy at the World Bank, to learn about the state of our oceans and what the World Bank is doing to help keep them healthy and productive.

 

Continue reading →

The Fragility Forum 2022 is committed to peace and development in the midst of new and intensifying crisis

Posted on by

Over the last two years the world has been on edge, with serious implications for the mostshutterstock_648806605_blog_resized fragile economies.

Since the last Fragility Forum in 2020 and in a year dominated by the COVID-19 pandemic, peace and development around the world have faced massive setbacks from Asia to Africa to Latin America.  Fragility and conflict risks are also on the rise in middle-income countries. Our most recent economic forecast indicates that, by 2023, the output of fragile and conflict-affected countries will be 7.5 percent below pre-pandemic levels. This is well below prospects in emerging and developing countries at large. For the most vulnerable, this means food insecurity, extreme poverty, loss of human capital and fewer economic opportunities in addition to the threat of violence and forced displacement.

Continue reading →

Five threats to equitable and inclusive recovery from COVID-19: Evidence from East Asia and Pacific

Posted on by

Nearly two years into the COVID-19 pandemic, the World Bank’s High-Frequency Phone jan2022_covidblog_eap_mainimageSurveys (HFPS) in the East Asia and Pacific (EAP) Region show that poorer households have been disproportionately affected and  have been slower to recover. Findings from the HFPS reported in the recent EAP Economic Update and a new regional study show that inequality has likely been exacerbated in several dimensions.

Continue reading →

Solidarity with the poorest countries: A renewed commitment to recovery

Posted on by

axel_socialA few weeks ago, the international community agreed to a record $93 billion financing package for the world’s poorest countries.   This support will be delivered through the World Bank’s International Development Association (IDA) over the next three years, starting in July. 

Continue reading →

Climate change and poverty: the perfect storm

Posted on by

We often hear that climate change disproportionately impacts the poor and the scenariosfarming_in_haiti._world_bank_eng are worrisome. For example, climate change will lead to up to a 300 % increase in extreme poverty in Latin America and the Caribbean (LAC) by 2030. 

Beneath this alarming headline, we know that climate-related losses will fluctuate across time and geographies. Impacts on people will be as varied and specific as household income sources and consumption patterns.

Continue reading →

How the World Bank Delivered COVID Vaccines in East Asia and the Pacific

Posted on by

 

STORY HIGHLIGHTSVaccine-Story-1

  • The World Bank has provided US$1.44 billion to support the purchase and distribution of COVID-19 vaccines, tests, and treatments in the East Asia and the Pacific (EAP) region, especially for the poor and vulnerable.
  • Strong partnerships and flexible financing approaches have helped countries ramp up their vaccination programs while investing in health, education, and social protection to ensure a more resilient future.
  • Based on the current pace of vaccination and availability of vaccines to EAP countries, most will achieve at least 70% coverage by mid-2022.

Continue reading →