World Bank

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International

Turkey earthquake: World Bank estimated making homes safe would cost $465bn

The World Bank estimated in 2021 that retrofitting or rebuilding millions of residential buildings in Turkey to withstand an earthquake would cost almost half a trillion dollars. In December 2021, the Washington-based bank, which provides loans and grants to governments, said it was providing the Turkish government with "technical assistance" to help it meet the "massive financing needs" necessary to undertake the urgent work. The bank warned that "most housing stock in Turkish cities […]

today16 February 2023

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International

World Bank provides $100 million to address Sudan food insecurity

The World Bank will provide the World Food Program (WFP) with $100 million to address food insecurity in Sudan, the WFP said on Wednesday, Anadolu News Agency reports. The humanitarian organisation said in a statement that the funds will be used to provide food and cash transfers for over two million people across the country. "The WFP in Sudan has received a contribution of $100 million from the World Bank to implement […]

today28 July 2022

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International News

Sudan: IMF approves $2.5bn loan and $50bn debt-relief deal

The International Monetary Fund (IMF) on Tuesday approved a $2.5bn loan for Sudan, and with the World Bank sealed a landmark deal that unlocks nearly $50bn in debt relief for the impoverished African nation. The announcement came after the IMF finalised an agreement with 101 donor countries allowing Sudan to clear roughly $1.4bn in arrears to the Washington-based lender - the key hurdle to allow access to fresh aid. "We […]

today30 June 2021

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International News

West Bank poverty may double over pandemic: World Bank

Poverty in the occupied West Bank may double as Palestinians are hammered by the economic fallout of the coronavirus pandemic, the World Bank warned on Monday. The Palestinian territories have seen low infection rates after authorities acted quickly to curtail the spread of COVID-19, with three deaths from 450 cases registered among some five million residents in the Gaza Strip and the illegally occupied West Bank. But the Palestinian Authority's […]

today1 June 2020

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International News

Palestinian Authority to stop funding Gaza electricity

The Palestinian Authority has notified Israel that it will no longer pay for the electricity Israel supplies to Gaza, as the World Bank warned of power outages deepening a humanitarian crisis. The move could lead to a complete power shutdown in Hamas-ruled Gaza, and cut off medical services and water supplies for its two million residents. COGAT, a branch of the Israeli military, said it was notified by the President […]

today28 April 2017

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International News

Gaza power cuts, blockade causing humanitarian crisis: World Bank

Constant fuel shortages and insufficient infrastructure have brought about a "humanitarian crisis" for Palestinians in the Hamas-ruled Gaza Strip, the World Bank said on Thursday. In a report ahead of an international donor conference next week, it said Thursday that foreign aid alone cannot rescue the stagnant Palestinian economy without practical changes and Israeli cooperation. Gaza's sole electricity plant frequently runs out of fuel for its generators and rations power […]

today27 April 2017

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