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Global Economic Prospects, June 2024 - Report cover page
Global Economic Prospects, June 2024 - Report cover page

Global Growth Is Stabilizing for the First Time in Three Years

Global growth is projected to hold steady at 2.6% in 2024 before edging up to an average of 2.7% in 2025-26. That is well below the 3.1% average in the decade before COVID-19.

OMBC

Online Media Briefing Center (OMBC) news for accredited journalists

Highlights

Loss and damage fund
Jun 10, 2024

Historic Fund will assist developing countries hit by adverse effects of climate change.

In a historic decision at COP28, an agreement was reached by 198 countries to move forward with a fund to provide financial support to vulnerable countries hardest hit by climate impact. Since COP28, the World Bank has worked with urgency to operationalize the Fund as a World Bank hosted financial intermediary fund (FIF) for an interim period of four years.

food security update
Jun 03, 2024

The collaboration will provide critical support for countries’ climate strategies—through an integrated, country-led approach to policy reforms and climate investments. Within their respective mandates, the World Bank Group and the IMF will leverage their analytics, technical assistance, financing, and policy expertise to enhance country-driven reform programs.

IDA 21 logo
May 20, 2024

The Republic of Korea’s journey from poverty to prosperity is a great example of IDA's impact. In just six decades, Korea has transformed from one of the world's poorest countries to a global powerhouse.

Cover image of Recipe for a Livable Planet report
May 06, 2024

The global agrifood system presents a huge opportunity to cut almost a third of the world’s greenhouse gas emissions through affordable and readily available actions, while continuing to feed a growing population, according to a new World Bank report. Recipe for a Livable Planet: Achieving Net Zero Emissions in the Agrifood System outlines actions that every country can take.

IMF World Bank Group logos
May 31, 2024

The collaboration will provide critical support for countries’ climate strategies—through an integrated, country-led approach to policy reforms and climate investments. Within their respective mandates, the World Bank Group and the IMF will leverage their analytics, technical assistance, financing, and policy expertise to enhance country-driven reform programs.

State and Trends of Carbon Pricing 2024 report cover
May 21, 2024

In 2023, carbon pricing revenues reached a record $104 billion, according to the World Bank’s annual “State and Trends of Carbon Pricing 2024” report released today.

Martina Polasek headshot
May 02, 2024

Member States of the International Centre for Settlement of Investment Disputes (ICSID) have elected Martina Polasek as Secretary-General of ICSID.

Africa heads of State Summit
Apr 29, 2024

In a historic show of unity, 19 African Heads of State assembled at a major summit committed to focusing development aspirations across the continent. This ambitious agenda, aiming to dramatically improve lives and create new opportunities, positions the World Bank's International Development Association (IDA) as a cornerstone for success.