In this month’s edition of IFC Insights, we focus on the power of connections. While the
proliferation of new technologies has increased the ease and possibilities of connectivity across the globe, the access to and uptake of these tools has not always been evenly spread.
Tag Archives: IMF
Joint Statement by the Heads of the Food and Agriculture Organization, International Monetary Fund, World Bank Group, World Food Programme and World Trade Organization on the Global Food and Nutrition Security Crisis
Food and Agriculture Organization (FAO) Director General Qu Dongyu, International Monetary Fund (IMF) Managing Director Kristalina Georgieva, World Bank Group (WBG) President David Malpass, World Food Programme (WFP) Executive Director David Beasley and World Trade Organization (WTO) Director General Ngozi Okonjo-Iweala issued the following joint statement calling for continued urgent action to address the global crisis on food and nutrition security.
World Bank Group Announces Major Initiative to Electrify Sub-Saharan Africa with Distributed Renewable Energy
Initiative will use solar off-grid, mini-grids and other means to promote universal access to electricity
Washington, Nov. 9, 2022—The World Bank Group announced today an innovative initiative to accelerate the pace of electrification in Africa to achieve universal access by 2030. The World Bank, the Multilateral Investment Guarantee Agency (MIGA), the International Finance Corporation (IFC), and other development agencies will promote private investment in distributed renewable energy (DRE) systems to electrify targeted areas quickly and efficiently. The Distributed Access through Renewable Energy Scale-Up Platform (DARES) calls for joint action by government, private investors, and development agencies to solve Africa’s immediate needs while developing DRE solutions that can be applied globally.
Empower HER to address food and nutrition security in Africa
Food price inflation exceeds 
overall inflation in most countries, and at least 123 million people in Sub-Saharan Africa (SSA) will be in food crisis by the end of the year. This is partly due to lack of investments in domestic food production, exacerbated by climatic shocks, the COVID-19 crisis, and impacts of the war in Ukraine.
Currency Depreciations Risk Intensifying Food, Energy Crisis in Developing EconomiesFood Security: Latest Update – October 17, 2022
Elevated commodity prices could prolong inflationary pressures
WASHINGTON, October 26, 2022—The shrinking value of the currencies of most developing economies is driving up food and fuel prices in ways that could deepen the food and energy crises that many of them already face, according to the World Bank’s latest Commodity Markets Outlook report.
One Health Approach Can Prevent the Next Pandemic
The number of emerging infectious disease (EID) outbreaks has grown to several hundred per 
year since 2000. Recent diseases such as SARS, avian influenza, Ebola – and the enormous health, economic, and societal impacts of COVID-19 – have not yet solicited global unity on the importance of preventing pandemics rather than responding to outbreaks as they emerge. What will it take for world leaders, countries, organizations, and communities to understand that prevention is better than cure? The World Bank’s latest flagship report, “Putting Pandemics Behind Us: Investing in One Health to Reduce Risks of Emerging Infectious Diseases,” is a clarion call for the universal adoption of an integrated approach to sustainably balance and optimize the health of people, animals, and ecosystems.
year since 2000. Recent diseases such as SARS, avian influenza, Ebola – and the enormous health, economic, and societal impacts of COVID-19 – have not yet solicited global unity on the importance of preventing pandemics rather than responding to outbreaks as they emerge. What will it take for world leaders, countries, organizations, and communities to understand that prevention is better than cure? The World Bank’s latest flagship report, “Putting Pandemics Behind Us: Investing in One Health to Reduce Risks of Emerging Infectious Diseases,” is a clarion call for the universal adoption of an integrated approach to sustainably balance and optimize the health of people, animals, and ecosystems.Setting standards: Why updating poverty lines matters in East Asia
East Asia prides itself on rapid economic progress over the past few decades with millions
lifted out of poverty. Between 2008 and 2018, real per capita GDP in the region grew at an average rate of 6.7 percent per year, significantly above the global average of 1.5 percent. Yet the extent of progress on poverty is exaggerated by the fact that poverty thresholds are set too low compared to other countries at similar income levels. This leads to policies which do not do justice to the scale of the problem. New numbers released by the World Bank using global benchmarks underscore this point.
Food Security: Latest Update – October 17, 2022
Domestic food price inflation remains high around the world. Information between May to
September 2022 shows high inflation in almost all low-income and middle-income countries; 88.9% of low-income countries, 91.1% of lower-middle-income countries, and 96% of upper-middle-income countries have seen inflation levels above 5%, with many experiencing double-digit inflation. The share of high-income countries with high food price inflation has risen to 85.7%.
Correcting course to accelerate poverty reduction
The COVID19
pandemic triggered a historic setback, pushing 70 million people into extreme poverty in 2020 – the largest one-year increase in three decades. The war in Ukraine deepened the global economic slowdown, which is now in its steepest decline following a post-recession recovery since 1970.
Annual Meetings Live Events
Join leaders, experts and activists to discuss how we can best respond to the multiple overlapping crises facing developing countries. How can we work together to navigate an uncertain world? Read more
October 10-16, 2022
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Check back for regular updates and event highlights.
Netherlands for the World Bank 
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