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world bank

Extreme poverty set to hit 9.3pc in Bangladesh: WB

Bangladesh’s economy is confronting renewed headwinds, with political uncertainty under the interim government weighing heavily on investment and slowing industrial growth. According to a World Bank (WB) report released on Wednesday under the title Poverty and Inequality Platform (PIP) News, the outlook for 2025 could resemble the pandemic year of 2020, when economic stagnation drove millions into hardship.

Key indicators:

    • Poverty rate at $3 a day (2021 PPP): 5.91pc in 2022
    • Poverty rate at national poverty lines 18.7pc in 2022
    • Multidimensional poverty headcount rati...

Life worse for Rohingya on Bhasan Char, report shows

Esrat Jahan:
A major new study released by the World Bank this September, in collaboration with the BRAC Institute of Governance and Development (BIGD), Yale University, and the University of Kent, has cast a stark light on the relocation of Rohingya refugees from Cox’s Bazar to the remote island of Bhasan Char.
Framed initially as a bold humanitarian solution to overcrowded camps, the initiative now appears to be falling short of its promises, delivering reduced welfare for refuge...

WB approves $200m to help modernise social protection system

The World Bank's (WB) Board of Executive Directors on Wednesday approved $200 million to expand coverage and strengthen delivery of the national social protection system to benefit more than 3 million poor people in Bangladesh.

In partnership with the Ministry of Social Welfare and the Ministry of Finance, the Strengthening Social Protection for Improved Resilience, Inclusion and Targeting (SSPIRIT) project will support the government to develop an integrated and comprehensive social prote...

World Bank, ADB simplify lending rules

The World Bank and the Asian Development Bank (ADB) have signed an agreement to streamline development finance, introducing a unified set of conditions and requirements for borrowers in co-financed projects.

Under the Full Mutual Reliance Framework (FMRF), the two major lending institutions will enhance their collaboration, enabling borrowers to adhere to a single set of policies and procedures—either those of the World Bank or the A...

S&P warns of US withdrawal risk for World Bank

S&P Global has joined the list of leading credit rating agencies cautioning that an 'unprecedented' withdrawal by the United States from the World Bank and other major multilateral lenders could jeopardise their coveted triple-A credit ratings.

Last week, President Donald Trump signed an Executive Order mandating a six-month review of U.S. support for all international intergovernmental organisations to determine whether the country should withdraw from them o...

The World Bank has accountability problem

In April members of impoverished fishing and farming communities near the Tata Mundra coal-fired power plant in Gujarat, India, filed a lawsuit in Washington, D.C., against the World Bank Group’s private lending arm, the International Financial Corp. (IFC), which funded the project, seeking remedies for harms to their environment, livelihood and health. The IFC is asking the district court to dismiss the suit, claiming absolute immunity for harms caused by the project, which would leave the plaintiffs without an effective avenue of redress. “The IFC’s defense boils down to this: ‘We are above the law,’” Rick Herz, the litigation coordinator for the human rights and environmental advocacy group EarthRights
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