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Online Media Briefing Center (OMBC) news for accredited journalists

Highlights

2023 EAP Economic Update
Mar 31, 2023

Growth in developing East Asia and the Pacific is forecast to accelerate in 2023 as China’s economy reopens, while the pace of growth in most of the economies in the rest of the region is anticipated to ease after a strong rebound last year, a World Bank report said on Thursday.

 

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World Bank Hq
Mar 30, 2023

The World Bank Group’s Board of Executive Directors today confirmed that, as announced on February 22, the period for submitting nominations for the position of the next President of the World Bank Group closed on Wednesday, March 29 at 6:00pm ET.

 

 

 

 

Photo: World Bank
Mar 27, 2023

Domestic food price inflation remains high around the world. Information from the latest month between October 2022 and February 2023 for which food price inflation data are available shows high inflation in almost all low- and middle-income countries, with inflation levels above 5% in 94.1% of low-income countries, 86% of lower-middle-income countries, and 87.0% of upper-middle-income countries and many experiencing double-digit inflation. 

 

 

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David R. Malpass. © World Bank
Mar 23, 2023

This event is timely. I’m going to speak about how the World Bank Group is strengthening our delivery of Private Capital Facilitation—what I’ll call "PCF"—within our operations and knowledge work. These efforts are key to strengthening private sectors, attracting private capital and achieving faster growth.

 

 

Global Gas Flaring  report 2023
Mar 30, 2023

Progress in reducing gas flaring resumed in 2022, with gas flared worldwide falling by 5 billion cubic meters (bcm) to 139 bcm, its lowest level since 2010, according to new satellite data compiled by the World Bank's Global Gas Flaring Reduction Partnership (GGFR).

 

 

Growth report
Mar 27, 2023

The global economy’s “speed limit”—the maximum long-term rate at which it can grow without sparking inflation—is set to slump to a three-decade low by 2030. An ambitious policy push is needed to boost productivity and the labor supply, ramp up investment and trade, and harness the potential of the services sector, a new World Bank report shows. 

English
Mar 23, 2023

A new joint assessment released today by the Government of Ukraine, the World Bank Group, the European Commission, and the United Nations, estimates that the cost of reconstruction and recovery in Ukraine has grown to US $411 billion (equivalent of €383 billion).

 

 

English
Mar 22, 2023

It is my great pleasure to be here at the UN 2023 Water Conference. Water is the lifeblood of society. We need water for a thriving economy that can run farms, businesses, and factories. We need water for sustainable development—to produce food and deliver low-carbon growth. And we need clean water for healthy children and adults to realize their potential as productive members of society. But today, over 2.3 billion people lack safe drinking water. Global economic cost of water insecurity is nearly $500 billion per year. Our research shows that poor water quality can reduce economic growth by as much as a third.