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Highlights
The guarantee falls under a new Portfolio Guarantee Platform with leveraging ability that allows Japan’s $1 billion commitment to enable new funding of $6 billion over 10 years. The platform permits shareholders with high credit ratings to step in if a borrower fails to pay back a loan from the International Bank for Reconstruction and Development (IBRD), a member of the World Bank Group.
The World Bank Group today took the first steps toward implementing Gender Strategy 2030, announcing a set of actions and concrete goals that aim to boost economic opportunities for more women. The targets, unveiled at a flagship event during the 2024 World Bank Group Annual Meetings, will focus on use of broadband, social protection, and access to capital.
At today’s feeble pace, it could take more than a century to eliminate poverty as it is defined for nearly half the world – people who live on less than $6.85 per day, according to the World Bank’s new Poverty, Prosperity, and Planet Report. The report offers the first post-pandemic assessment of global progress toward eradicating poverty and boosting shared prosperity on a livable planet.
Here are the latest bi-annual regional economic updates to explore the macro development trends in Africa, East Asia and the Pacific, Europe and Central Asia, Latin America and the Caribbean, the Middle East and North Africa, and South Asia.
This is a 37% increase compared to the previous IDA replenishment cycle and underscores Spain’s continued commitment to sustainable development worldwide. This raises Spain’s total contribution to over €5 billion since IDA’s creation. The announcement was made on the sidelines of the World Bank Group-IMF Annual Meetings and comes weeks ahead of the final 21st replenishment (IDA21) meeting in December.
The new approach arrives as four trends are fundamentally reshaping the agribusiness landscape: climate change, innovations in finance, digitalization, and solutions to fragmentation. It also aims to take advantage of demand for food that is set to increase by 60 percent in the coming decades, and respond to a critical need for jobs in emerging markets.
Economies do better at enacting regulations to improve the national business climate than they do in providing the public services needed to secure actual progress, according to the World Bank Group’s new Business Ready report.
Demonstrating the country’s continued dedication to global development, Denmark’s pledge of DKK 3,300 million represents a 40% increase compared to the previous IDA replenishment cycle.