World Bank

World Bank slashes global growth forecast

World Bank slashes global growth forecast

The World Bank on Tuesday slashed its global growth forecast by nearly a third to 2.9% for 2022. In a news conference, World Bank President David Malpass said global growth could fall to 2.1% in 2022 and 1.5% in 2023, driving per capita …

World Bank: situation in Ukraine may trigger global recession

World Bank: situation in Ukraine may trigger global recession

World Bank President David Malpass suggested that the situation in Ukraine and its impact on food and energy prices, as well as the availability of fertilizer, could trigger a global recession. Malpass told an event hosted by the U.S. …

World Bank slashes global growth forecast

World Bank slashes global growth forecast

The World Bank lowered its annual global growth forecast for 2022 on Monday by nearly a full percentage point, down from 4.1% to 3.2%, citing the impact that the situation in Ukraine is having on the world economy. …

Soaring food prices could fuel social unrest, extreme poverty

Soaring food prices could fuel social unrest, extreme poverty

The world’s major international finance and food organisations have joined forces to call for urgent, coordinated action on food security in light of the crisis in Ukraine, warning soaring food prices could fuel social tensions and push millions into poverty

World Bank: Russia's GDP output to drop by 11.2% in 2022

World Bank: Russia's GDP output to drop by 11.2% in 2022

Russia's economic output fall 11.2% due to punishing financial sanctions imposed by the United States and its Western allies on Russia's banks, state-owned enterprises and other institutions, the World Bank said. The World …

Farmers in Uzbekistan to Get Better Access to Finance

Farmers in Uzbekistan to Get Better Access to Finance

The World Bank’s Board of Executive Directors approved a $200 million financing package for the Second Rural Enterprise Development Project (REDP) aimed at supporting the establishment and expansion of farms and rural enterprises in 10 …

World Bank allocates $400 mln to Georgia

World Bank allocates $400 mln to Georgia

World Bank will allocate $400 million for the Human Capital Programme for Georgia, calling it “the largest cross-sectorial investment” for the country over 30 years of partnership.  The World Bank Board of Executive …

World Bank hints on new Arab Spring

World Bank hints on new Arab Spring

Soaring energy and food prices triggered by the crisis in Ukraine could exacerbate existing food security concerns in the Middle East and Africa

World Bank stops all its programs in Russia and Belarus

World Bank stops all its programs in Russia and Belarus

The World Bank (WB) made a decision to immediately stop all its programs in Russia and Belarus over the situation in Ukraine, according to its statement. "The World Bank Group has not approved any new loans to or investments in …

UN chief urges to unlock Afghanistan funds

UN chief urges to unlock Afghanistan funds

UN Secretary-General Antonio Guterres urged the United States and the World Bank to unfreeze Afghan funds, locked since the Taliban's return to power, to prevent "the nightmare unfolding in Afghanistan" from getting worse. …

China's economic growth will slow sharply in 2022

China's economic growth will slow sharply in 2022

The World Bank has cut its forecasts for China's economic growth this year and next, as the world's second largest economy faces mounting headwinds from the new Omicron variant to a severe property sector downturn