Online Media Briefing Center (OMBC) news for accredited journalists
Highlights
Domestic food price inflation remains high in many low- and middle-income countries. Inflation higher than 5% is experienced in 77.3% of low-income countries (18.2 percentage points higher since the last Update on June 27, 2024), 54.3% of lower-middle-income countries (8.7 percentage points lower), 44% of upper-middle-income countries (8.0 percentage points higher), and 10.7% of high-income countries (0.2 percentage points lower).
Demonstrating the country’s continued dedication to global development, Denmark’s pledge of DKK 3,300 million represents a 40% increase compared to the previous IDA replenishment cycle.).
For me, this moment marks the culmination of a journey that began over a year ago—when I first started at the World Bank and promised to visit every region where we operate.
A staggering 400 million students globally experienced school closures from extreme weather since 2022, according to a new World Bank report released today. The report examines the detrimental impacts of climate change on education in low- and middle-income countries and offers solutions to harness education to spur climate action.
This two-day Chatham House Rules event will bring together a small and diverse group of global thinkers—including individuals prominent in the fields of history, international relations, political science, finance, and business—at the location of the 1944 United Nations Monetary and Financial Conference (the “Bretton Woods Conference”).
The World Bank Group delivered a record $42.6 billion in climate finance in fiscal year 2024—which covers July 1, 2023 to June 30, 2024—supporting efforts to end poverty on a livable planet, investing in cleaner energy, more resilient communities, and stronger economies. This is a 10% increase in climate finance compared to the previous year.
In almost 60% of banks in Emerging Market and Developing Economies (EMDEs), lending for climate-related investment accounts for less than 5% of their overall portfolios, and more than one-quarter offer no climate financing at all, according to a new World Bank report.
The World Bank Group today announced the launch of the High-Level Advisory Council on Jobs, a new initiative that will identify actionable policies and programs to address the looming jobs crisis in the Global South.
