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Stories related to: World Bank

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  • July 2008

    • China's Economy Will Dwarf US

      newser  |  AFP  |  Jul 9, 08 7:33 AM CDT

      China's Economy Will Dwarf US

      China is the world's economic superpower of the future and will dwarf the financial might of the US, according to a new study by an American research organization. China's economy will surpass the US economy by 2035—and be more than double its size by 2050, predicts the report by the Carnegie Endowment for International Peace. More »

    • Biofuel Caused Food Crisis: Secret Report

      newser  |  Guardian (UK)  |  Jul 4, 08 3:45 PM CDT

      Biofuel Caused Food Crisis: Secret Report

      Biofuel production has been the driving force behind the growing food crisis, pushing prices up 75%, according to a confidential World Bank report obtained by the Guardian . The most detailed research ever conducted on the issue emphatically contradicts the US position that biofuels are responsible for a mere 3% price bump. It hasn’t been published, sources say, for fear of embarrassing President Bush. More »

      Tags

      George W. Bush  • Bush administration  • food prices  • World Bank  • biofuel  • ethanol  • hunger

  • June 2008
  • May 2008

    • World Bank Offers $1.2B in Food Aid

      newser  |  BBC  |  May 30, 08 6:46 AM CDT

      World Bank Offers $1.2B in Food Aid

      The World Bank is offering an emergency $1.2 billion in aid to several nations in a desperate bid to stave off starvation for millions of people, reports the BBC. The money is being offered to Haiti, Liberia, Djibouti, Togo, Yemen and other nations identified as at immediate risk from rising food prices. The bank will pour another $2 billion into agricultural programs next year. More »

      Tags

      United Nations  • food prices  • World Bank  • food shortage  • Robert Zoellick  • world food summit

    • World Bank Nixes Loan to Burmese Junta

      newser  |  Daily Telegraph (UK)  |  May 20, 08 10:54 AM CDT

      World Bank Nixes Loan to Burmese Junta

      As Burma looks for loans to cover an estimated for $10 billion worth of damage from Cyclone Nargis, the World Bank won't be among the lenders, the Telegraph reports. The junta has been in debt to the bank for more than a decade, and the bank is legally barred from making another loan, says its managing director. More »

      Tags

      Burma  • Myanmar  • World Bank  • Cyclone Nargis  • military junta  • emergency aid

  • April 2008
  • January 2008

    • Bomb Threat Closes World Bank

      newser  |  Reuters  |  Jan 17, 08 10:39 PM CST

      Bomb Threat Closes World Bank

      The Washington headquarters of the World Bank will be closed for business Friday as it investigates a bomb threat, Reuters reports. "The bank is working with law enforcement officials to determine the validity of the threat," said a statement from the bank. Few other details were released. The international lending institution is located about a block away from the White House. More »

      Tags

      Washington DC  • World Bank  • IMF  • bomb threat

  • December 2007

    • World Bank Cuts China's Economy Down to Size

      newser  |  BBC  |  Dec 18, 07 7:44 AM CST

      World Bank Cuts China's Economy Down to Size

      China's economy, predicted to become the world’s largest by 2012, actually is 40% smaller than previously estimated, the World Bank concludes, after updating the way it calculates GDP. Although China’s $5.33-trillion economy is still the second largest in the world behind the $12-trillion US, the new appraisal suggests it won't be taking top honors that soon, and it's less powerful, and poorer, than thought, the BBC reports. More »

      Tags

      China  • US economy  • World Bank  • GDP

    • Gates Charity Creates New African Woes

      newser  |  Los Angeles Times  |  Dec 16, 07 6:07 AM CST

      Gates Charity Creates New African Woes

      The Bill and Melinda Gates Foundation has given $8.5 billion to global health causes and is slowly defeating AIDS in Africa, but it’s creating unexpected new problems for the continent, the LA Times reports. By pouring money into the treatment of AIDS, TB and malaria, it has lured health care workers with higher pay, while basic  health care has has suffered. More »

      Tags

      Africa  • health care  • World Bank  • Bill Gates  • malaria  • Rwanda  • vaccines  • Bill and Melinda Gates Foundation  • tuberculosis  • Botswana

    • Britain Tops US in Funding for World Bank

      newser  |  New York Times  |  Dec 14, 07 3:15 PM CST

      Britain Tops US in Funding for World Bank

      Great Britain has supplanted the United States as the largest contributor to the World Bank, pledging $4.2 billion of the total $25.1 billion raised for the world's poorest nations, a record high. The shift in power reflects both the dollar's waning dominance as well as an end to US-Europe tensions following Paul Wolfowitz's resignation, the Times reports. More »

      Tags

      China  • Great Britain  • United States  • World Bank  • Paul Wolfowitz  • Robert Zoellick

  • November 2007

    • Aid Finally Reaches Bengalis

      newser  |  AFP  |  Nov 21, 07 5:54 PM CST

      Aid Finally Reaches Bengalis

      Bangladesh’s army has finally reached most parts of the southern coastline devastated by Cyclone Sidr six days ago, delivering small amounts of aid to most affected areas, the AFP reports. With relief efforts thus far stymied by the devastation, any aid was welcomed: "We spent the last six days cooking rotten rice," said one survivor as the first consignment arrived. More »

      Tags

      World Bank  • cyclone  • Bangladesh  • food shortage  • Cyclone Sidr

    • Africa: Let There Be Light

      newser  |  Christian Science Monitor  |  Nov 16, 07 2:50 AM CST

      Africa: Let There Be Light

      Even after decades of development, most African communities have no electrical power and still go dark when the sun goes down. Only 5% of Ugandans, 6% of the Congolese population and 15% of Kenyans have electricity. Now the World Bank has launched an initiative to light the homes of 250 million Africans by 2025.  More »

      Tags

      Africa  • South Africa  • World Bank  • electricity  • LEDs

    • Growing African Economies Could Lessen Poverty

      newser  |  Associated Press  |  Nov 14, 07 3:52 PM CST

      Growing African Economies Could Lessen Poverty

      The growth of Africa's economy over the past 10 years is strong enough to "put a dent in a dent in poverty," according to a World Bank report. Growth over the past decade has averaged 5.4%, but more foreign investment is needed to keep that going. The report credits economic and governmental reforms for the good news. More »

      Tags

      Africa  • World Bank  • poverty  • GDP

  • October 2007

    • ITU Head Wants Broadband Net Help for Africa

      newser  |  BBC  |  Oct 28, 07 10:38 PM CDT

      ITU Head Wants Broadband Net Help for Africa

      Fewer than four per cent of Africans use the Internet and less than one per cent have broadband access, helping to keep Africa behind in education, medicine and business, the BBC reports. Dr Hamadoun Toure, head of the International Telecommunication Union, is asking world organizations to make sure a third of Africa has broadband Internet access by 2012. More »

      Tags

      Internet  • United Nations  • Africa  • Intel  • World Bank  • broadband Internet  • World Health Organization  • Rwanda

    • World Bank President Touts New Strategy

      newser  |  Reuters  |  Oct 22, 07 8:25 AM CDT

      World Bank President Touts New Strategy

      Robert Zoellick has outlined a new strategy for the World Bank, including giving the private sector a bigger role in development, speeding aid to countries coming out of conflict, and promoting green energy alternatives, Reuters reports. The new president  has been quick to reposition the global bank's mission following the turmoil over former president Paul Wolfowitz's resignation under duress. More »

      Tags

      Saudi Arabia  • World Bank  • poverty  • Paul Wolfowitz  • G8 summit  • Robert Zoellick

    • New World Bank Head Stakes Out Own Ground

      newser  |  Wall Street Journal  |  Oct 10, 07 1:50 PM CDT

      New World Bank Head Stakes Out Own Ground

      Though he's proven more popular with staffers than his predecessor, new World Bank head Robert Zoellick faces a greater challenge in setting a new path for the poverty-fighting lender, the Wall Street Journal reports. As shareholders meet today for the first time since Zoellick took over for the disgraced Paul Wolfowitz, the bank president aims to sell "inclusive and sustainable globalization." More »

      Tags

      World Bank  • Robert Zoellick

  • September 2007

    • World Bank Pledges Record $3.5B to Aid Poorest Nations

      newser  |  BBC  |  Sep 28, 07 7:15 AM CDT

      World Bank Pledges Record $3.5B to Aid Poorest Nations

      The World Bank has doubled its previous promises and pledged a record $3.5B in grants and credits to aid the world's poorest countries. The bank's new president said the dramatic move is intended to spur an increase in donations from rich countries, the BBC reports. The bank also eased loan conditions for middle-income countries. More »

      Tags

      World Bank

  • August 2007

    • Chinese Seek Fortune in Africa

      newser  |  International Herald Tribune  |  Aug 17, 07 3:22 PM CDT

      Chinese Seek Fortune in Africa

      A growing number of poor Chinese are flocking to Africa, hoping to cash in on the destitute continent’s infinite growth potential. China is building factories in eastern Africa, and trade between the two burgeoning economies ballooned to $55 billion last year. The eastern entrepreneurs are diving into every sector of the African market—from diamonds to ice cream—but oil is particularly piquing their interest. More »

      Tags

      China  • oil  • Africa  • World Bank  • trade  • Chad  • Tanzania  • Zambia  • mineral resources

    • Snubbing the West, Bolivia Waxes Red

      newser  |  Washington Post  |  Aug 3, 07 10:18 AM CDT

      Snubbing the West, Bolivia Waxes Red

      Bolivia’s populist president is traveling his country handing out aid—straight from his anti-American neighbor Hugo Chávez. The Washington Post reports that Evo Morales has been taking more than a cue from Chávez, using the Venezuelan leader's cash to fund social welfare programs and build clinics and schools, while balking at the investment in private enterprise favored by the West. More »

      Tags

      inflation  • Venezuela  • Hugo Chavez  • World Bank  • IMF  • South America  • Bolivia  • nationalization

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