Tag: World Bank

WaterAid joins the World Bank in calling for closer cooperation and action on unsustainable debt burdens

Stuart Mitchell

WaterAid responds to comments from Ajay Banga, new president of the World Bank, who has urged for faster progress in providing debt relief. Sol Oyuela, Executive Director, Global Policy and Campaigns at WaterAid, said: “The Word Bank’s new president is right to highlight the urgent need for debt relief for poor countries– we need closer and more meaningful cooperation and action on unsustainable debt burdens to ensure progress is not hindered on climate and poverty reduction. “This week new findings also show the UK is 40% below its long-standing pledge to low-income…

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70% of 10-Year-Olds now in Learning Poverty, Unable to Read and Understand a Simple Text

Stuart Mitchell

As a result of the worst shock to education and learning in recorded history, learning poverty has increased by a third in low- and middle-income countries, with an estimated 70% of 10-year-olds unable to understand a simple written text, according to a new report published by the World Bank, UNESCO, UNICEF, UK government Foreign Commonwealth and Development Office (FCDO), USAID, and the Bill & Melinda Gates Foundation. This rate was 57% before the pandemic, but now the learning crisis has deepened. This generation of students now risks losing $21 trillion…

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UNESCO and World Bank launch framework for action for creative cities’ recovery, development and economic growth

Stuart Mitchell

UNESCO and the World Bank have partnered for the first time in a joint initiative to enable the cultural and creative industries in cities as part of their recovery and development during and after the COVID-19 pandemic.  In their position paper published on 21 May, UNESCO and the World Bank present the Cities, Culture, and Creativity Framework for action for cities to be more creative by enabling sustainable ecosystems in which cultural and creative industries can attain their full potential to contribute to economic growth, urban vibrancy, social inclusion and innovation.…

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World Bank and Credit Suisse partner to focus attention on sustainable use of oceans and coastal areas – the “Blue Economy”

Stuart Mitchell

  The World Bank (International Bank for Reconstruction and Development, IBRD rated Aaa/AAA) issued a USD 28.6 million 5-year Sustainable Development Bond as part of ongoing efforts to raise awareness for the vital role fresh and saltwater resources play for people, livelihoods, and the planet. Credit Suisse Securities (Europe) Ltd., through its Impact Advisory and Finance Department, acted as the sole manager of the transaction. World Bank bonds support the financing of sustainable development projects and programs across a range of critical development sectors in member countries. This includes projects…

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World Bank and UNICEF partner to promote education, skills and training for young people

Stuart Mitchell

The World Bank and UNICEF announced a new commitment to promote education, skills and training for young people in developing countries with the goal of boosting their employment prospects. The partnership will align $1 billion in World Bank investments with Generation Unlimited, a new global initiative, currently hosted by UNICEF. The investments are also an important component of the World Bank Group’s Human Capital Project, which ismobilizing countries to deliver more effective investments in people – especially young people – as a key pathway to jobs in today’s changing world…

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