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Oxfam tells Davos: Time to tax growing billionaire club

Agence France-Presse
Posted at May 23 10:06 AM

The Covid pandemic has created a new billionaire every 30 hours and now one million people could fall into extreme poverty at the same pace, Oxfam said Monday as the Davos summit returns. Read more »

World Bank to provide $12B more to address food crisis

Agence France-Presse
Updated as of May 19 11:23 AM

Russia's invasion of Ukraine and international economic sanctions on Moscow have disrupted supplies of fertilizer and wheat. Read more »

World Bank sees 'alternative' path out of economic disaster for Afghanistan

Agence France-Presse
Posted at Apr 14 07:30 AM

Afghanistan can avoid an economic collapse, but only if it receives international assistance and if the Taliban government respects human rights and "sound" management of its finances, the World Bank said Wednesday. Read more »

Intl Finance Corp investing $18.5-M in Voyager Innovations

ABS-CBN News
Posted at Apr 13 02:45 PM

PLDT-backed fintech Voyager Innovations is getting an $18.5 million investment from the International Finance Corp and 2 of its units, IFC said on Wednesday. Read more »

Ukraine war fuels 'overlapping crises': World Bank

Agence France-Presse
Posted at Apr 12 09:07 PM

The Russian war on Ukraine has set off a chain reaction in the global economy with rising energy and food prices that will worsen poverty and hunger. Read more »

World Bank warns of bleak economic outlook for Ukraine

Delphine Touitou, Agence France-Presse
Posted at Apr 11 07:54 AM

The World Bank issued dire forecasts for Ukraine as Russia's invasion impacts both the country and its neighbors. Read more »

Green advocates demand reparations from World Bank's IFC, RCBC

ABS-CBN News
Posted at Apr 08 10:48 AM

Environmental advocates have held a coordinated protest to demand climate reparations and immediate action from IFC and RCBC. Read more »

World Bank warned vs relying too much on firms to fight climate change

Warren de Guzman, ABS-CBN News
Posted at Apr 07 11:39 PM

During a webinar by World Bank with advocates across the globe, some of the panelists said point blank that there is a long history of public-private partnerships doing more harm than good in battling global warming. Read more »

Asia Pacific recovery seen at risk from several factors

ABS-CBN News
Posted at Apr 05 01:54 PM

Aside from the pandemic, recovery is also threatened by the Ukraine crisis, US monetary policy tightening, and the slowing growth in China, the World Bank said. Read more »

Global report bares Filipino kids' poor learning skills

Jaehwa Bernardo, ABS-CBN News
Updated as of Apr 04 08:28 PM

Less than 15 percent of Filipino children can read a simple text at age 10, according to a recent UNICEF report. Read more »

Digitalization fosters competitiveness of MSMEs: IFC

ABS-CBN News
Updated as of Apr 04 02:20 PM

Digitalization could help micro-businesses become more competitive, IFC Philippines country manager Jean-Marc Arbogast said Monday. Read more »

Oil hikes to cut growth for big importers: World Bank

Reuters
Posted at Mar 09 01:17 PM

Persistent high oil prices prompted by Russia's invasion of Ukraine could cut a full percentage point off the growth off large oil-importing developing economies. Read more »

World Bank approves $723-M in loans, grants for Ukraine

David Lawder and Andrea Shalal, Reuters
Posted at Mar 08 11:04 AM

The World Bank said its executive board on Monday approved a $723 million package of loans and grants for Ukraine, providing desperately needed government budget support as the country battles a Russian invasion. Read more »

Fitch, Moody's slash Russia's sovereign debt to junk

Agence France-Presse
Posted at Mar 03 05:32 PM

Fitch and Moody's slashed Russia's sovereign debt to junk status or the category of countries at risk of not being able to repay their debt. Read more »

World Bank ends projects in Russia, Belarus

ABS-CBN News, Agence France-Presse
Posted at Mar 03 10:42 AM

The World Bank on Thursday said it halted all projects In Russia following the Russian invasion of Ukraine. The multilateral lender said it had also stopped all programs in Belarus. Read more »

World Bank halts all programs in Russia, Belarus

Reuters
Posted at Mar 03 06:23 AM

The World Bank on Wednesday said it had stopped all programs in Russia and Belarus with immediate effect, following the Russian invasion of Ukraine. Read more »

World Bank, IMF racing to get aid to Ukraine in coming weeks, months

Andrea Shalal and David Lawder, Reuters
Posted at Mar 02 08:42 AM

The International Monetary Fund and World Bank said they were racing to provide billions of dollars of additional funding to Ukraine in coming weeks and months, adding the war there is creating "significant spillovers" to other countries. Read more »

G7 meeting to focus on Ukraine aid: World Bank

Agence France-Presse
Posted at Feb 28 08:42 AM

Finance ministers of the Group of Seven most developed nations will meet Tuesday to discuss urgent aid for Ukraine, World Bank president David Malpass said. Read more »

World Bank preparing finance options for Ukraine

Reuters
Posted at Feb 25 08:11 AM

World Bank President David Malpass said the lender stands ready to provide immediate support to Ukraine amid "shocking violence and loss of life," and is preparing options for fast-disbursing financing. Read more »

Lebanon's 'zombie banks' downsize to weather crisis

Elie Wehbe, Agence France-Presse
Updated as of Feb 21 05:17 AM

Once the economy's crown jewel, Lebanon's banks are shutting branches and laying off employees in droves. Read more »