South Africa Overview: Development news, research, data | World …
In October 2023, the World Bank approved a $1 billion Development Policy Loan which endorses a significant and strategic response to South Africa’s ongoing energy crisis and supports the country’s goal of transitioning to a just and low-carbon economy. The operation facilitates the restructuring of the power sector through the unbundling of ...
Agriculture Overview: Development news, research, data | World …
Oct 9, 2024 · Agriculture can help reduce poverty for 75% of the world's poor, who live in rural areas and work mainly in farming. It can raise incomes, improve food security and benefit the environment. The World Bank Group is a leading financier of agriculture, with $8.1 billion in new commitments in 2013.
Africa Overview: Development news, research, data | World Bank
Oct 15, 2024 · According to the region’s most recent economic update, growth in Sub-Saharan Africa is projected to grow by 3% in 2024, from 2.4% in 2023, and to accelerate to 4% in 2025–26. Rising conflict and violence across the region exerts a dampening effect on economic activity, with climate shocks poised to exacerbate this fragility.
Urban Development Overview - World Bank Group
Apr 3, 2023 · The World Bank’s work in urban development aims to build sustainable cities and communities through an urbanization process that is green, inclusive, competitive, and resilient, contributing to the Sustainable Development Goal (SDG) No.11, to the implementation of the New Urban Agenda, as well as to the World Bank’s goals to …
Nigeria Overview: Development news, research, data | World Bank
Oct 14, 2024 · The World Bank’s support for the energy sector includes the Nigeria Electrification Project (NEP), which has helped Nigeria to provide reliable access to electricity services:. Over 5.9 million underserved and unserved Nigerians have been provided with access to electricity services, including Micro Small and Medium Enterprises (MSMEs) and …
Fact Sheet: An Adjustment to Global Poverty Lines - World Bank …
May 2, 2022 · As a result of the PPP update, the global extreme poverty rate for 2019 (the last year for which we have global poverty data) will decrease marginally, from 8.7% to 8.4%, reducing the count of people who live in extreme poverty by 20 million and bringing the total to 648 million. At the $3.65 line (used for lower-middle-income countries), the ...
Philippines Overview: Development news, research, data | World …
Oct 16, 2024 · Overview. The Philippines has been one of the most dynamic economies in the East Asia and Pacific region. Its economic dynamism reflects increasing urbanization, a large and young population, and strong consumer demand, supported by a vibrant labor market and robust remittances, which have raised the incomes of the most vulnerable. The private ...
Uganda Overview: Development news, research, data | World Bank
Oct 11, 2024 · A Country Partnership Framework (CPF) is the tool that guides the World Bank Group's (WBG) support to a member country such as Uganda. A new CPF to support Uganda’s vision of a society transformed from a peasant economy to a modern and prosperous country by 2040 will soon be prepared by the WBG in collaboration with the Government of Uganda and in consultation with civil society, private ...
State and Trends of Carbon Pricing 2023 - World Bank Group
BILBAO, May 23, 2023 — Revenues from carbon taxes and Emissions Trading Systems (ETS) have reached a record high, about $95 billion, finds the World Bank’s annual “State and Trends of Carbon Pricing” report released today. This is despite the challenging context for governments facing high inflation, fiscal pressures, and energy crises.
Rwanda Overview: Development news, research, data | World Bank
Oct 10, 2024 · Rwanda's economy continued to stage a strong growth in the first half of 2024. After growing by an average of 8.2% in 2022-2023, real GDP increased by 9.7% in the first half of 2024. GDP growth is expected to maintain momentum in 2025–26, with a projected average of 7.7%, thanks to a recovery in global tourism, new construction projects, and ...