The world must move quickly to fulfill the promise of the climate change agreement reached in Paris four months ago and accelerate low-carbon growth, World Bank Group President Jim Yong Kim said on the opening day of the Spring Meetings.
More than 190 countries came together last December to pledge to do their part to halt global warming. The result was an unprecedented agreement to keep warming below 2 degrees Celsius over pre-industrial times, with the goal of limiting warming to 1.5° C.
Donna Barne's blog
U.S. First Lady Michelle Obama brought her passion for girls’ education and a powerful message to a packed World Bank atrium just ahead of Spring Meetings: Support education for adolescent girls, because it’s one of the smartest investments any country can make.
She was talking to the right audience — finance and development ministers entrusted with crucial spending decisions, development experts, and leaders from civil society, the private sector, and the media.
World Bank Group President Jim Yong Kim praised Obama as a “tremendous champion for the rights of girls and women.” He announced that the Bank Group would invest $2.5 billion over five years in education projects directly benefiting adolescent girls.
U.S. First Lady Michelle Obama and Microsoft founder Bill Gates are among the featured speakers at the first major gathering of the world’s finance and development leaders in 2016 – the Spring Meetings of the International Monetary Fund and World Bank Group.
The global economy, climate change, refugees, and the digital divide are just a few of the topics on the agenda in the lead-up to the meetings the week of April 11. We’re webcasting 19 events in multiple languages featuring government ministers, experts, and CEOs.
Tune in Wednesday for a special event with Obama on educating adolescent girls. Later, the World Bank’s top economists will weigh in on economic growth in turbulent times, and Margaret Chan of the World Health Organization co-hosts a session on bringing mental health issues out of the shadows.
We are living in a world where the largest corporations are larger and the richest entrepreneurs are richer than ever before – and an increasing number of billionaires are based in emerging countries. Who are these tycoons and how important are they to their economies?
A new book by Caroline Freund aims to answer these questions by examining the characteristics and impact of 700 emerging-market billionaires whose net worth adds up to more than $2 trillion.
Rich People, Poor Countries: The Rise of Emerging-Market Tycoons and Their Mega Firms finds that very large firms are export superstars in their home countries.
In the United States the top 1% of firms account for 80% of exports. In emerging countries, the top 1% account for 50% of exports but that figure is rising rapidly, Freund said at a book launch at the World Bank’s Infoshop on March 23.
Now that we've reached the end of 2015, it's clear this was a year of major milestones, emerging trends, and new beginnings. Among other things, 2015 marked a historic drop in poverty, a major climate change agreement, and record low child and maternal mortality rates. Take a look at what the data show.
1. The Global Poverty Rate Fell below 10%
In the photo, a beautiful woman named Radha holds her young child in a bleak landscape strewn with refuse. The photo caption reveals she is a rag-picker in Jaipur, India, one of millions making a living from collecting and selling the things other people throw away. We learn that shortly after the photo was taken, her husband died.
Radha’s image and story, captured by photographer and artist Tierney Farrell (@tierneyfarrell) in June 2014, was one of 10 photographs selected by National Geographic Your Shot as winners of the #endpoverty hashtag challenge this summer.
In a note to the photographer, National Geographic’s Erika Larsen explained why the photo was chosen: “This is a beautiful image but more importantly you have given us a story. You have followed her life for an amount of time and made us care about her situation.”
Can we end extreme poverty in a world with extreme inequality? That question inspired a spirited debate in English and Spanish on Oct. 7, just ahead of the World Bank Group-IMF Annual Meetings in Lima, Peru, addressing corruption, taxation, discrimination against women, and the need to even the playing field for the younger generation.
Latin America’s experience with inequality was front and center at the live-streamed event, Inequality, Opportunity, and Prosperity, featuring World Bank Group President Jim Yong Kim, Ibero-American Secretary General Rebeca Grynspan, Oxfam International Chair Juan Alberto Fuentes Knight, and moderated by CNN Español news anchor Patricia Janiot.
The economic slowdown in Latin America and the Caribbean is putting pressure on workers and wages and forcing some people out of the labor force, according to a new report released during a live-streamed event of the same name, “Jobs, Wages, and the Latin American Slowdown,” in the lead-up to the World Bank Group-IMF Annual Meetings in Peru.
“A lot of women joined the labor force in the good times. Now, in the slowdown, people are exiting the labor force — men and youth with little education. This is good news if they’re going to university, but bad if they’re going to live with their parents and be idle,” said Augusto de la Torre, the World Bank’s chief economist for Latin America and the Caribbean.
Moreover, the “exit of youth from the labor force will affect poor families more than wealthier ones – inequality could become greater,” said de la Torre.
The global economy, climate change, infrastructure, the food system – these are just a few of the hot topics that will be addressed in Lima, Peru, in the lead-up to the Annual Meetings of the World Bank Group and International Monetary Fund the week of Oct. 5.
The annual gathering of ministers from 188 countries takes place just two weeks after a historic vote at the United Nations to adopt Sustainable Development Goals. Government ministers will again discuss the SDGs at the Oct. 11 meeting of the Development Committee of the World Bank Group and IMF.
With the Ebola outbreak waning but not yet over, the three most affected countries must now find ways to rebuild their economies and strengthen their health systems to try to prevent another health crisis in the future.
To that end, the presidents of Guinea, Liberia, and Sierra Leone came to the World Bank on April 17 to ask for help funding an $8 billion, 10-year recovery plan for the three countries, with $4 billion needed over the next four years to accelerate recovery. More than $1 billion was pledged by the end of a high-level meeting at the start of the World Bank Group -IMF Spring Meetings – including $650 million from the World Bank Group.