Food Security Update

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August 15, 2022 – Record high food prices have triggered a global crisis that will drive millions more into extreme poverty, magnifying hunger and malnutrition, while threatening to erase hard-won gains in development. The war in Ukraine, supply chain disruptions, and the continued economic fallout of the COVID-19 pandemic are reversing years of development gains and pushing food prices to all-time highs. Rising food prices have a greater impact on people in low- and middle-income countries, since they spend a larger share of their income on food than people in high-income countries. This brief looks at rising food insecurity and World Bank responses to date. 

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What IPCC climate projections mean for World Bank energy projects in Africa

 

We already knew climate change would be a major threat to development gains in Africa, but a blog_senegal_energy_-_with_wbg_cop27_branding_fullrecent report by the UN’s Intergovernmental Panel on Climate Change (IPCC) reveals the impacts could be significantly worse. Across the continent, research indicates with greater precision and certainty the future increases in flooding severity and extreme weather events over the coming decades. Among the findings: In West Africa, the number of potentially lethal heat days reaches 50–150 per year at 1.6°C global warming and 100–250 per year at 2.5°C global warming, with the highest increases in coastal regions; In Southern Africa, heavy rainfall events would become more frequent and intense at all levels of global warming, increasing exposure to flooding; and, at 2°C global warming, unprecedented extreme droughts are projected to emerge. These are alarming projections given that the continent is the least responsible for climate change but most vulnerable to its consequences.

Yet even as the climate crisis accelerates, Africa needs to close its huge energy access gap and achieve its development goals. Millions of people across Africa still lack access to basic electricity services.  Communities still live without reliable and affordable electricity needed to deliver social services and to be more resilient, better prepared, and more responsive when disasters hit.

“Yet even as the climate crisis accelerates, Africa needs to close its huge energy access gap and achieve its development goals.

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Three ways a strong dollar impacts emerging markets

World Bank Mobilizes $4.5 billion in Additional Financing for Vital Support to Ukraine

 

WASHINGTON, August 8, 2022—The World Bank Group today announced $4.5 billion in additional financing mobilized for Ukraine under the Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) Project, which aims to help the Government of Ukraine meet urgent needs created by the ongoing war. The financing package is comprised of a $4.5 billion grant provided by the United States.

The additional financing will contribute to sustaining the government’s administrative and service delivery capacity to exercise core functions at the national and regional levels. Specifically, the project will help the Government of Ukraine to cover social payments, healthcare services, and pensions, which are essential for the well-being of the country’s citizens in mitigating the social and economic impacts of the war.

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World Water Week 2022

August 23-September 01, 2022siwi-wwweek-main-photo780
Online and Stockholm, Sweden

World Water Week, organized each year by the Stockholm International Water Institute (SIWI), brings together experts, professionals, innovators and entrepreneurs from various sectors and countries with the aim of developing solutions for water-related challenges.

The theme of this year’s event is “Seeing the Unseen: The Value of Water,” with a focus on the diverse aspects of water, how others view and value water, and the exploration of water’s full value to society. For the first time, the conference will be hybrid, allowing delegates to join online and/or in-person in Stockholm, Sweden.

The World Bank Group will convene and participate in multiple sessions on topics ranging from transboundary cooperation and financing to agriculture, technology, innovation, and the climate crisis.

You can also follow our sessions along via @WorldBankWater using #wwweek

 

 

World Water Week 2022 Aug 23 – Sep 1

World Water Week, organized each year by the Stockholm International Water Institute (SIWI),siwi-wwweek-main-photo780 brings together experts, professionals, innovators and entrepreneurs from various sectors and countries with the aim of developing solutions for water-related challenges.

The theme of this year’s event is “Seeing the Unseen: The Value of Water,” with a focus on the diverse aspects of water, how others view and value water, and the exploration of water’s full value to society. For the first time, the conference will be hybrid, allowing delegates to join online and/or in-person in Stockholm, Sweden.

The World Bank Group will convene and participate in multiple sessions on topics ranging from transboundary cooperation and financing to agriculture, technology, innovation, and the climate crisis.

You can also follow our sessions along via @WorldBankWater using #wwweek.