Online Media Briefing Center (OMBC) news for accredited journalists
Highlights
Ninety percent of the world lives with either degraded land, unhealthy air, or water stress, according to a new World Bank report, however, restoring natural systems is possible and can yield high returns.
The World Bank Group today announced the appointment of Tsutomu Yamamoto as Managing Director of the Multilateral Investment Guarantee Agency (MIGA), home of the World Bank Group Guarantee Platform.
Slovenia has announced a 30% increase in its contribution to the World Bank's International Development Association (IDA), reinforcing its commitment to supporting the world's poorest countries.
As conflicts have become more frequent and deadly in the 2020s, these economies are falling behind all other economies in key indicators of development, the analysis finds.
Under the updated rules, companies bidding on international civil works contracts—such as the construction and maintenance of transportation and energy infrastructure—must ensure that 30% of labor cost is local.
While some countries have reduced flaring, the top nine largest-flaring countries continue to account for three-quarters of all flaring, but less than half of global oil production.
The partnership agreement, signed by World Bank Group President Ajay Banga and IAEA Director General Rafael Mariano Grossi, formalizes multiple engagements between the two institutions over the last year, and marks the World Bank Group’s first concrete step to reengage with nuclear power in decades.
The report, Radical Debt Transparency, shows that while the proportion of low-income countries publishing some debt data has grown from below 60% to more than 75% since 2020, only 25% disclose loan-level information on newly contracted debt.
