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World Bank

World Bank approves $1bn to restore Turkiye’s earthquake-hit areas

The World Bank has approved $1 billion in financing to Turkiye for the rehabilitation of rural homes and key public services in earthquake-affected areas. The World Bank said in a statement on Wednesday that the Turkiye Earthquake…

France’s Macron says leaders have finalized accord on $100bn in climate finance

Wealthy nations finalized an overdue climate finance pledge to developing countries worth $100 billion on Friday and created a fund for biodiversity and the protection of forests, France’s president said, according to Reuters. Emmanuel…

World Bank offers dim outlook for the global economy in face of higher interest rates

The global economy is likely slowing sharply this year, hobbled by high interest rates, the repercussions of Russia’s invasion of Ukraine and the lingering effects of the coronavirus pandemic. That’s the latest outlook of the World Bank,…