WASHINGTON, January 10, 2019—The Board of Executive Directors of the World Bank met January 9 under the Chairmanship of its Dean, Dr. Merza Hasan, to discuss the selection process for the next President of the World Bank Group, following the announcement of the current President, Jim Yong Kim, that he will be stepping down from his position on February 1.
Whew, it’s out!
On October 11, 2018, the World Bank Group released its inaugural Human Capital Index (HCI), a tool that quantifies the contribution of health and education to the productivity of a country’s next generation of workers. The question underpinning the HCI asks, “ ” Globally, 56 percent of children born today will lose more than half their potential lifetime earnings because governments and other stakeholders are not currently making effective investments to ensure a healthy, educated, and resilient population ready for the workplace of the future.
Funding for 2021-2025 includes a significant boost for adaptation and resilience
Washington DC – 3 December, 2018 —The World Bank Group today announced a major new set of climate targets for 2021-2025, doubling its current 5-year investments to around $200 billion in support for countries to take ambitious climate action. The new plan significantly boosts support for adaptation and resilience, recognizing mounting climate change impacts on lives and livelihoods, especially in the world’s poorest countries. The plan also represents significantly ramped up ambition from the World Bank Group, sending an important signal to the wider global community to do the same.
Despite expectations that growth will be robust in the near term, developing countries face challenges to keep up the pace of progress and ensure inclusive, sustainable growth amid structural changes to the global economy. The World Bank Group is uniquely placed to address global challenges and help countries achieve their goals in today’s increasingly complex development landscape.
World 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.
Official opening of the IMF/World Bank Annual Meeting press conference by President Jim Yong Kim.
NEW YORK, September 20, 2017 – United Nations Secretary General António Guterres and 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.
Aspirations are rising as never before across the world, thanks in large part to smartphones and the internet — will they be met 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.
WASHINGTON, June 4, 2017— The World Bank forecasts that global economic growth 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.
- 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.”