World Bank warns of ‘learning crisis’ in global education

World Bank buildingWorld Development Report 2018 calls for greater measurement, action on evidence

WASHINGTON, September 26, 2017 – Millions of young students in low and middle-income countries face the prospect of lost opportunity and lower wages in later life because their primary and secondary schools are failing to educate them to succeed in life. Warning of ‘a learning crisis’ in global education, a new Bank report said schooling without learning was not just a wasted development opportunity, but also a great injustice to children and young people worldwide.

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Heads of UN and World Bank Announce Initiative to Ramp Up Finance for Climate Action

NEW YORK, September 20, 2017 – United Nations Secretary General António Guterres World Bank buildingand World Bank Group President Jim Yong Kim today announced plans to accelerate the flow of finance for climate action through a new platform dedicated to identifying and facilitating transformational investments in developing countries.

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Doesn’t everyone deserve a chance at a good life?

Aspirations are rising as never before across the world, thanks in large part to smartphones and the internet — will they be indexmet with opportunity or frustration? As President of the World Bank Group, Jim Yong Kim wants to end extreme poverty and boost shared prosperity. He shares how the institution is working to improve the health and financial futures of people in the poorest countries by boosting investment and de-risking development.

TED Talk

This talk was presented at an official TED conference, and was featured by our editors on the home page.

Global Growth Set to Strengthen to 2.7 percent as Outlook Brightens

WASHINGTON, June 4, 2017— The World Bank forecasts that global economic growthWorld Bank building will strengthen to 2.7 percent in 2017 as a pickup in manufacturing and trade, rising market confidence, and stabilizing commodity prices allow growth to resume in commodity-exporting emerging market and developing economies.

According to the World Bank’s June 2017 Global Economic Prospects, growth in advanced economies is expected to accelerate to 1.9 percent in 2017, which will also benefit the trading partners of these countries. Global financing conditions remain favorable and commodity prices have stabilized. Against this improving international backdrop, growth in emerging market and developing economies as a whole will pick up to 4.1 percent this year from 3.5 percent in 2016.

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An Essential Role, a New Approach

STORY HIGHLIGHTSDevComm
  • The Development Committee, a ministerial-level forum of the World Bank Group and the International Monetary Fund, issued a communiqué at the close of the institutions’ Spring Meetings in Washington.
  • They said the World Bank Group retains an essential role in helping ensure that growth is sustainable, with benefits that reach everyone and help reduce poverty and inequality.
  • On the urgent issues of famine and forced displacement, the committee cited both “efforts to mobilize and rapidly disburse support for countries, communities, and refugees” and the importance of “investing to address the root causes and drivers of fragility and helping countries build institutional and social resilience.”

Online: Thursday Highlighted! Spring Meeting Events.

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2017 Spring Meetings Opening Press Conference: World Bank Group President Jim Yong Kim

Follow the event on Twitter with #WBLive

Date: Thursday, April 20th, 2017
Time: 8:30 am – 9:30 am ET/ 12:30 – 13:30 GMT
Location: International Monetary Fund & Online

Unleashing Productivity – The Key to Sustaining Inclusive Growth

Follow the event on Twitter with #Productivity4Growth

Date: Thursday, April 20th, 2017
Time: 9:30 am – 11:00 am ET/ 13:30 – 15:00 GMT
Location: JB-1-080

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Wanted: Entrepreneurs to help end poverty

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In many developing countries, governments struggle to reach people living in extreme poverty and bring them into the formal economy. But even in the toughest places, a special kind of entrepreneur is doing what governments often can’t.

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Jim Kim Live: Rethinking Development Finance

Watch the live stream or follow the event on Twitter with #LSEWorldBank

Date: Tuesday, April 11th, 2017
Time: 6:30 – 8:00 pm (London) /17:30 – 19:00 GMT/ 1:30 pm – 3:00 pm ET
Location: London School of Economics, London

In a speech ahead of the World Bank Group-International Monetary Fund Spring Meetings, World Bank Group President Jim Yong Kim will address the need for a new approach to development finance to meet the aspirations of the world’s 7 billion people and make this generation the first in history to end extreme poverty.

Time is Money: Transforming Dar es Salaam’s Road Transport to Reduce Dense Traffic

STORY HIGHLIGHTSTransport

  • World Bank Group President Jim Yong Kim and Tanzanian President John Magufuli unveiled the foundation stone for the Ubongo Interchange, which will ease transportation bottlenecks and help businesses.
  • The interchange is supported by a $225 million concessional credit from the International Development Association (IDA), in addition to an IDA Scale-up Facility Credit of $200 million.
  • Under the first phase of the Bus Rapid Transit system, roundtrip travel time on the corridor was reduced by 90 minutes a day, saving commuters 16 days of sitting in traffic.

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