Developing countries spent a record $1.4 trillion to service their foreign debt as their interest costs climbed to a 20-year high in 2023, the World Bank’s latest International Debt Report shows.

This early pledge announcement comes ahead of the final IDA21 replenishment meeting scheduled for December 5-6, 2024, in Seoul, South Korea. The increase underscores Croatia's recognition of the ...

The United Kingdom has announced a 40% increase in its contribution to the World Bank’s International Development Association (IDA)—from 1.414 billion GBP in IDA20 and to GBP 1.98 billion GBP in IDA21 ...

SUVA, November 29, 2024 –Fiji is struggling with a non-communicable disease (NCD) crisis and weak health outcomes that threaten the well-being of its people. To address the crisis, a new World Bank ...

ULAANBAATAR, November 29, 2024 — Mongolia’s economy is projected to grow by 5.3 percent in 2024 and 6.5 percent in 2025, amid the robust mining production and domestic demand, according to the World ...

PORT MORESBY, November 29, 2024 –The World Bank has approved the National Energy Access Transformation (NEAT) Project, a $204 million initiative that will improve the lives of over 400,000 Papua New ...

Somalia has made significant progress on its state-building journey since 2012, emerging from over three decades of being considered a failed state and submerged in an armed conflict. Efforts to ...

Fiji is an upper middle-income country with the health outcomes of a lower middle-income country. Although it faces a demographic opportunity from a rising working-age population, it will only be able ...

Managing integrity risks within state-owned enterprises is crucial to reducing corruption and preventing economic and political harm that can erode public trust. To mark International Anticorruption ...

Washington, D.C., November 28, 2024 – While climate change impacts pose increasing risk to the long-term growth of Eastern Caribbean states, there are opportunities for these countries to achieve ...

WASHINGTON DC, November 28, 2024 – The World Bank's Board of Directors approved today two new projects for Argentina totaling US$1 billion. The first program promotes early childhood development by ...