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 ...

Gulf Economic Update: Navigating the Water Challenge in the GCC RIYADH, December 1, 2024 – The GCC region is estimated to have subdued economic growth of 1.6% in 2024 but is forecast to grow at 4.2% ...

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 ...

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 ...

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 ...

Efforts to enhance revenue show promising signs, with projections indicating an increase in the domestic revenue-to-GDP ratio to 4.5% by 2030. Collaboration across government and partnerships between ...

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 ...