The World Bank has announced that the International Development Association (IDA) will release a historic $100 billion to support the world’s poorest countries. This funding follows a successful resource mobilization process that raised $23.7 billion over the past year. The…
The World Bank reports signs of a moderate recovery in Afghanistan’s economy, with growth reaching 2.7% of GDP mainly due to private consumption. Despite this, significant challenges remain, including fiscal constraints and a declining contribution of women to economic activity….
A recent World Bank report reveals that developing and emerging economies spent $1.4 trillion on servicing foreign debt last year, the highest ever recorded. With total external debts reaching $8.8 trillion, many countries struggle to balance debt repayments with essential…
During the G20 summit in Rio de Janeiro, Italian Prime Minister Giorgia Meloni and Minister of Economy and Finance Giancarlo Giorgetti met with World Bank President Ajay Banga to discuss enhanced cooperation. The meeting focused on developmental initiatives in Africa…
According to a World Bank report, Lebanon has suffered economic losses exceeding $5.1 billion in the wake of the conflict between the Israeli military and Hezbollah, which escalated since October 2023. The report notes that nearly 100,000 homes were damaged,…
