March 2020 global poverty update from the World Bank: New poverty estimates for 2018

The March 2020 global poverty update added more than 200 new surveys to PovcalNet,

figure 1.2

Table 1. Poverty estimates for reference year 2018, different poverty lines

bringing the total number of surveys to more than 1,900. New poverty estimates for the reference year 2018 are now included for some regions, and the previously published global and regional estimates from 1981 to 2015 have been revised, reflecting data revisions and the availability of new data. More details on the revisions can be found in Atamanov et al. (2020).

Continue reading

World Bank Group Announces Up to $12 Billion Immediate Support for COVID-19 Country Response

As COVID-19 reaches more than 60 countries, the World Bank Group is making available IDAan initial package of up to $12 billion in immediate support to assist countries coping with the health and economic impacts of the global outbreak. This financing is designed to help member countries take effective action to respond to and, where possible, lessen the tragic impacts posed by the COVID-19 (coronavirus).

Through this new fast track package, the World Bank Group will help developing countries strengthen health systems, including better access to health services to safeguard people from the epidemic, strengthen disease surveillance, bolster public health interventions, and work with the private sector to reduce the impact on economies. The financial package, with financing drawn from across IDA, IBRD and IFC, will be globally coordinated to support country-based responses.

Continue reading

Developing countries want more action on climate: The World Bank is stepping up

By Axel van Trotsenburg, World Bank Managingfloods.jpgDirector of Operations

I have read the many reports that summarize the dire state of the climate and our planet’s worsening prospects. I know the hard statistics docum

enting rising temperatures, the increasing intensity of natural disasters and warmer seas. I have been meeting with representatives from developing countries who have one request: we need less talk and more action on climate.  

Continue reading

The learning crisis requires a new approach

For most children, turning 10 is an exciting moment. They’re learning more about the untitled.pngworld and expanding their horizons. But too many children – more than half of all 10-year-olds in low- and middle-income countries – cannot read and understand a simple story. We are in the middle of a global learning crisis that stifles opportunities and aspirations of hundreds of millions of children.   That is unacceptable.

Continue reading

Putting biodiversity at the heart of IDA’s work

When people talk about biodiversity, it is often through the lens of conservation and theuntitled survival of animal and plant species. But the value drawn from a healthy biosphere is much more than that – it delivers a steady supply of food, water, jobs and livelihoods and helps to regulate climate.

Nature underpins all forms of life and economic activities, but this way of life is threatened on many fronts.  Our oceans are overfished and polluted with plastic; 1 million plant and animal species (out of 8 million) face extinction within decades, according to the latest scientific assessments, and deforestation and soil degradation have reached epic levels.

Continue reading

Global Community Renews Commitment to the World’s Poorest Countries with $82 Billion

PRESS RELEASE NO: 2020/083/DFI

STOCKHOLM, December 13, 2019 — A global coalition of development partners announced today their commitment to maintain momentum in the fight against extreme poverty, with $82 billion for the International Development Association (IDA), the World Bank’s fund for the poorest. The financing, which includes more than $53 billion for Africa, will help countries invest in the needs of their people, boost economic growth, and bolster resilience to climate shocks and natural disasters.

Continue reading

Now is the time to invest in South Asia’s future

A few years ago, Binita Biswokarma’s life took a sharp turn for the worse.35161860665_6f3a2b1999_k.jpg

With no skills, relatives, or farmland, the young woman from Kaski, a rural district in West Nepal, struggled to provide for her son’s education, buy food and necessities, let alone repair the roof of her home.

Then came an opportunity to work as a road maintenance worker—and find a way out of poverty.

Continue reading

Impact investing with the World Bank. How to make a difference – the case of IDA

For over 70 years, the World Bank Group has successfully raised funds in the capital ida_blog.jpgmarkets to invest in development projects. Through its arm for middle-income countries, the International Bank for Reconstruction and Development (IBRD), the World Bank Group funded public sector projects like roads, green energy, health or education systems; and through the International Finance Corporation (IFC), it provided capital to the private sector in developing countries to help businesses grow and provide jobs, taxes and other wider societal benefits.

Continue reading

IDA is a vital development partner now more than ever

It is undeniable that progress has been made in reducing extreme poverty over the last ht-jessica-education780pxquarter century—from 36 percent of the world population in 1990 to an estimated 8.6 percent in 2018—and that living standards for hundreds of millions of people have improved over that time.

Yet, poverty reduction has not been consistent across countries and today it is slowing. For the world’s poorest countries, extreme poverty remains stubbornly high with 31 percent of their people living on less than $1.90 a day. 

Continue reading

Staying focused on better outcomes for the world’s poorest people

Global growth remains subdued, with the pace of investment and trade softening, and DC_presdownside risks persisting due to policy uncertainty, trade tensions, financial volatility, and rising debt. The World Bank Group, in cooperation with the International Monetary Fund, can help emerging and low-income countries bolster potential growth, increase their resilience to shocks, boost domestic revenues, and continue building policy buffers. The two organizations have an important role to play in addressing the increase in debt vulnerabilities, and they can help countries meet a range of challenges to the international financial system, including tackling corruption.

Continue reading