Debt-Service Payments Put Biggest Squeeze on Poorest Countries

Debt-service payments from the International Development Association's (IDA) countries are projected to top $62 billion in 2022. The world's poorest countries now spend over a tenth of their export revenues to service their long-term public and publicly guaranteed external debt.

International Debt Report Press Release

International Development Association

World Bank Approves Sri Lanka’s Eligibility to Access Concessional Financing, Helping to Stabilize Economy and Protect Livelihoods

This type of financing, which is offered at low interest rates, will enable the country to implement its government-led reform program to stabilize the economy and protect the livelihood of millions of people facing poverty and hunger. This approval means Sri Lanka now becomes an IDA country.

Migration and Development

Remittances Grow 5% in 2022, Despite Global Headwinds

Remittances to low- and middle-income countries (LMICs) withstood global headwinds in 2022, growing an estimated 5% to $626 billion. This is sharply lower than the 10.2% increase in 2021, according to the latest World Bank Migration and Development Brief.

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Join us Live: Responding to the Food and Climate Crisis in Somalia and beyond

Join us live for the event: "Responding to the Food and Climate Crisis: Can cash transfers boost resilience in Somalia and beyond?" on Wednesday, December 7 at 9:00 AM ET. The event will feature a conversation with the Norwegian Refugee Council, Save the Children and The World Bank, moderated by BBC reporter Andrew Harding.

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Food security is defined when all people, at all times, have physical and economic access to sufficient safe and nutritious food that meets their dietary needs and food preferences for an active and healthy life.

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International Development Association (IDA)
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GHG emissions by continent 1900-2019 GHG emissions by continent 1900-2019

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Given the short-term potency of methane, cost-effective interventions to reduce methane emissions should be an immediate priority for the sectors with the largest emissions. The agriculture, energy, sanitation and waste sectors are collectively responsible for 90-95% of global anthropogenic sources of methane.

The World Bank Group (WBG) has a long record of engagement on methane reduction across the key areas of agriculture, energy, and sanitation and waste. The table below provides examples of extensive WBG work in this area, including various types of project activities that will reduce methane emissions.

Methane Factsheet

Education is a powerful driver of development and one of the strongest instruments for reducing poverty and improving health, gender equality, peace, and stability. Developing countries have made tremendous progress in getting children into the classroom and the majority of children worldwide are now in primary school. Nevertheless, some 260 million children are still out of primary and secondary school. Learn More.

By 2030, an additional 68.8 million teachers will need to be recruited just for primary and secondary: 20 million are required to expand access to primary and secondary school and 49 million are needed to replace those who leave the workforce. In addition, the childcare workforce needs to expand by 32 million globally to address the childcare gap. Read More.