- Global trade will play a critical role in driving economic recovery from the COVID-19 pandemic, ensuring the flow of food, medical supplies, and vaccines, and contributing to poverty reduction. But policies must be in place to ensure that gains from trade are spread across regions, industries, and workers in developing countries.
As of May 13, 2021, the World Bank Board approved operations to support vaccine rollout in 22 countries amounting to $2.4 billion. See the latest project financing, project documents and procurement information in the list below. More information will be shared here as it becomes available. We expect to reach 50 countries amounting to $4 billion by mid-year.
Through this, the World Bank Group is working with partners on the largest vaccination effort in history to stop the COVID-19 pandemic. On April 2, 2020, at the initial COVID-19 response phase, the World Bank’s Board of Executive Directors approved a $6 billion Global COVID-19 Response Program (also called the COVID-19 Strategic Preparedness and Response Program, or SPRP). The program has reached over 100 countries with emergency operations to prevent, detect, and respond to COVID-19 and strengthen systems for public health preparedness. The timing of potential vaccine development was...
- The Yemen Emergency Electricity Access Project is one of many projects funded by the World Bank International Development Association (IDA) to address climate risk and reach the poorest people, often in isolated communities and fragile settings. Photo: © World Bank
- The World Bank Group’s flagship international development podcast takes a deep dive into a new analysis of informal work around the globe – and its relationship to economic inequality during the COVID-19 pandemic. ###
Give us 20 minutes, and we’ll take you on a journey around the world of international development in this flagship podcast from the World Bank Group. Everyday World Bank researchers and staffers are working to address the biggest international problems – everything from poverty to climate change, education to nutrition, and a whole lot more. Through conversations focused on revealing the latest data, the best research, and the solutions making the world a better place, let hosts Paul Blake and Raka Banerjee introduce you to the folks working to make the world a better place.
Most entries illustrated the personal impact of the pandemic on the student’s lives, from school closures, to lack of digital access or devices. Some students also detailed their personal family issues, from parents losing jobs, to lowering family income levels, access to food and nutrition or the pressures of taking care of younger siblings while trying to learn.
South Asia is the third largest contributor to global plastic waste. It generates 334 million metric tons of solid waste every year. Nearly 70-80% of this waste ends up in the ocean 12% is plastic. On current trends, if no action is taken, the amount of mismanaged waste (including plastic) across South Asia is projected to double to 661 million tons by 2050, adversely affecting the region’s ocean ecosystems, livelihoods, human health, and sustainable development more broadly. COVID-19 has further exacerbated plastic pollution, with increased demand for single-use plastic and pressure on solid waste management systems.
With no single solution to this, South Asia needs a collective response to plastic pollution which is both national and transboundary in nature. The region’s two transboundary river systems—the Indus River System, which connects Afghanistan, India and Pakistan and the Ganga-Brahmaputra-Meghna River System, which connecting Bhutan, Nepal, India and...
Most entries illustrated the personal impact of the pandemic on the student’s lives, from school closures, to lack of digital access or devices. Some students also detailed their personal family issues, from parents losing jobs, to lowering family income levels, access to food and nutrition or the pressures of taking care of younger siblings while trying to learn.
While production cuts by OPEC and its partners (OPEC+) have been critical in supporting oil prices, the resulting large quantity of spare production capacity will limit price increases over the forecast horizon. In addition, if pandemic containment falters, a further weakening in demand could put pressure on the production cut agreement. A breakup of the agreement could result in markedly lower oil prices.
- This story is part of a series that focuses on the importance of social inclusion and the need for a concerted global effort to ensure everyone can lead equal, dignified, and empowered lives. It will highlight the challenges, opportunities, voices and experiences from marginalized ethnic communities. Follow #EveryoneEqual for updates on new stories.
DEMPELA, Mali, April 22, 2021— Zantié Dembélé, a farmer from the village of Dempela in the Sikasso region, saw 14 of his relatives fall ill from pesticide poisoning after eating millet treated with pesticides. “I needed millet before the end of the rainy season, so I bought some from a vendor. I asked if it was sprayed millet and I was told it wasn’t. So I gave the millet to the women who ground and cooked it.” In Mali, nearly 200 people die from pesticide poisoning every year and thousands contract diseases due to the intensive use of often-obsolete pesticides.
The Malian economy relies largely on its agricultural production. Although the use of pesticides is essential for the sound development of the sector and the economy in general, the country has a problem managing its obsolete fertilizers. A total of 580 tons of products have been found to be unfit for use, some of them dating back decades. Reselling these products is a lucrative business for...
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As countries rebuild their economies after COVID-19, it is fundamental that they see this as a unique opportunity to lay the foundation for a green, resilient, and inclusive future. These efforts were the theme of the event kicking off the Spring Meetings on Tuesday, Economic Recovery: Toward a Green, Resilient, and Inclusive Future.
World Bank Group President David Malpass outlined the major challenges facing the world, including COVID, climate change, rising poverty and inequality, and growing fragility and violence. U.S. Treasury Secretary Janet Yellen encouraged developed economies to continue to support a global recovery. She also highlighted the importance of helping developing countries meet their climate goals along with their development objectives, adding that the availability of green finance will be critical. IMF Managing Director Kristalina Georgieva was also part of the conversation with Malpass and Yellen,...
Accelerating the development and delivery of vaccines that can control the spread of COVID-19 is a global priority. But we also need to ensure that vaccines are available equitably to all countries – particularly the poorest, which have the least resources to procure and deploy them.
Join Dr. Muhammad Pate, the Bank’s Global Director of Health and a former Nigerian Minister for Health, and the IFC’s Elena Sterlin as they discuss the challenges ahead.
(Download the event transcript .txt)
On April 7th, the World Bank invited several leading experts to explore perspectives on a new global financial architecture for debt. Speakers discussed lessons from past restructuring efforts, the private sector’s role, and the increased need for debt transparency.
Zainab Haruna of Nigeria began the conversation by explaining how government debt can affect the lives of everyday people. Angolan Finance Minister Vera Daves spoke with World Bank Group President David Malpass about how the economic fallout from COVID-19 has affected her country’s revenue and debt levels. Kevin Watkins, Chief Executive Officer of Save the Children, and K.Y. Amoako, President of the African Center for Economic Transformation, described how unsustainable debt can hold back the progress of countries, diverting resources that could otherwise be used to invest in health, education, and more. Citi’s Julie Monaco and World Bank Chief Economist...
- The Marine Conservation and Climate Adaptation Project strengthened the climate resilience of Belize coral reef and critical ecosystems. Between 2015 and 2020, it supported the expansion of marine protected area coverage in Belize’s territorial waters from 13 to 22 percent, the restoration of 12 coral sites, and alternative livelihoods for 1,535 beneficiaries.
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South Asia is the third largest contributor to global plastic waste. It generates 334 million metric tons of solid waste every year. Nearly 70-80% of this waste ends up in the ocean 12% is plastic. On current trends, if no action is taken, the amount of mismanaged waste (including plastic) across South Asia is projected to double to 661 million tons by 2050, adversely affecting the region’s ocean ecosystems, livelihoods, human health, and sustainable development more broadly. COVID-19 has further exacerbated plastic pollution, with increased demand for single-use plastic and pressure on solid waste management systems.
With no single solution to this, South Asia needs a collective response to plastic pollution which is both national and transboundary in nature. The region’s two transboundary river systems—the Indus River System, which connects Afghanistan, India and Pakistan and the Ganga-Brahmaputra-Meghna River System, which connecting Bhutan, Nepal, India and...
Bassma Ali’s company, G-Gateway – Gaza’s only female-headed information, communication, and technology (ICT) firm – provides women with flexible employment to support their families, contributing to SDG Goal 1 No Poverty. Since COVID-19 hit, it has been creating digital learning opportunities through new virtual training and online learning resources. This has enabled around 262 unemployed youth to learn or work remotely in 2020, Bassma reports.
Remote working arrangements have helped clients and employees pivot to tap and create digital resources. To date, G-Gateway has trained more than 1,000 graduates, creating 150 long-term jobs through its ICT outsourcing business services, as well as enabled more than 1,000 short-term employment opportunities through remote working. The majority of these workers are women, who are using these opportunities to sustain their income, according to Bassma.
Bassma’s company is one of seven winners from among...
(Download the event transcript .txt)
About the Event:
The rollout of COVID-19 vaccines in developing countries is critical to protecting lives, building human capital, and stimulating economic recovery. The current crisis is exacerbating inequalities throughout the world and, without access to vaccines, the gap will widen further.
This event begins with voices of youth from around the world reflecting on the impact of the pandemic and their hopes for a speedy recovery with a return to school, friends, and family.
World Bank Group President David Malpass then describes what vaccines mean for the world, what needs to be done to accelerate production and ensure safe and effective distribution to developing countries, and the importance of collaboration amongst all stakeholders for a sustainable and inclusive recovery. Read More
- The Novissi platform delivers contactless, emergency cash transfers based on machine learning techniques and mobile money. In order to expand Novissi platform coverage, the poorest villages and neighborhoods are selected through high-resolution satellite imagery and nationally representative household consumption data. Within those villages and neighborhoods, the poorest individuals are then prioritized through machine learning algorithms using mobile phone metadata and phone surveys. Machine-learning algorithms trained on mobile call detail records predicted consumption patterns for 5.7 million individuals (70 percent of population). Between November 2020 and March 2021, 57,000 new beneficiaries were prioritized for contactless, social protection payments through the use of predictive algorithms.
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