The US will provide an additional $1.7 billion in financial aid to Ukraine, US Treasury Secretary Janet Yellen announced today. “This latest contribution of financial aid to Ukraine is part of President Biden’s commitment to support the Ukrainian government as it defends Ukrainian democracy against Russia’s unprovoked and unjustified war,” Yellen said. This new tranche […]
Tag: The World Bank
The World Bank has created a fund to better deal with pandemics
The World Bank’s board of directors on Thursday approved the creation of a fund to finance investments aimed at strengthening capacities to prevent, prepare and respond to pandemics. As the World Bank clarified in its announcement, emphasis should be placed on low- and middle-income countries, while the goal is to launch the fund in the […]
Ukraine: The World Bank approves an additional $ 1.49 billion in aid
The World Bank’s board of directors approved additional $ 1.49 billion in funding to Ukraine on Tuesday to allow the government to pay the salaries of civil servants and social workers. The new funding increases the World Bank’s lending to Kyiv to more than $ 4 billion. On March 8, the Washington-based international financial institution […]
The World Bank is ringing the bell of stagnant inflation – Reduce the forecast for global growth
The World Bank cut its global growth forecast by 1.2 percentage points to 2.9% in 2022 on Tuesday, warning that Russia’s invasion of Ukraine has exacerbated damage from the COVID-19 pandemic, with many countries be likely to experience recession. Russia’s invasion of Ukraine has exacerbated the slowdown in the global economy, which is now entering […]
World Bank: The war in Ukraine could cause a global recession
Russia’s war in Ukraine and its impact on food and energy prices, as well as the availability of fertilizers, could trigger a global recession, World Bank President David Malpas said on Wednesday. Germany’s economy, the fourth largest in the world, has already slowed significantly due to higher energy prices, Malpas said at an event at […]
The World Bank will provide $ 30 billion as war threatens food security in poorer countries
The World Bank has announced that it will allocate $ 30 billion (€ 28.61 billion) to help address a food crisis threatened by Russia’s war in Ukraine, as it has halted most grain exports from the two countries. These chapters, including $ 12 billion (€ 11.44 billion) for new programs, and more than $ 18 […]
The World Bank will give Ukraine $ 200 million every month for the salaries of civil servants and teachers
The World Bank will pay Ukraine an average of $ 200 million a month for the salaries of civil servants and teachers, with a total of $ 1.5 billion expected to be disbursed. Deputy Foreign Minister of Ukraine Roman Yermolitchev referred to these plans of the World Bank in an interview with the Ukrainian news […]
World Bank: Shock from food and fuel increases will last at least three years
The shock of rising world food and fuel prices linked to the Russia-Ukraine war is expected to last until at least the end of 2024 and increase the risk of stagnant inflation, the World Bank said in its latest outlook report. Commodities Market Outlook. In its first comprehensive analysis of the impact of war on […]
World Bank: Increase food, energy and fertilizer production to tackle rising prices
World Bank President David Malpa today urged advanced economies to step up food aid to developing countries and work to increase food, energy and fertilizer production to address shortages and tackle rising prices. caused by the Russian war in Ukraine. Malpas told a joint news conference with International Monetary Fund chief Kristalina Georgieva that cash […]
The United States will intensify pressure on those who circumvent sanctions against Russia
US Treasury Secretary Janet Yellen will urge members of the International Monetary Fund and the World Bank this week to step up pressure on Russia to end the “irrational war” in Ukraine, a senior ministry official said Monday. The US Treasury Department will focus its efforts on “complying” with those seeking to circumvent the sweeping […]