Biden picks former Mastercard CEO to replace the World Bank's leader
As the largest shareholder in the World Bank, the United States traditionally nominates candidates for a five-year term as president. They are vetted by the bank’s executive board.
World Bank Group
Founded in 1944, the Washington-based World Bank Group provides financial and technical assistance to developing countries around the world. Its mission is to fight poverty and to help people help themselves and their environment.
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African nations pay 'extortionate' interest rates on debt, U.N. chief says
Women and girls still don't get the support they need, U.N. Secretary-General António Guterres said, and African nations cannot develop with "one hand tied behind their backs."
Watchdog finds scant progress in fight against corruption
As the world becomes a less peaceful place, a new report finds a clear connection between more violence and corruption.
Flood aid conference raises US$9B for Pakistan rebuilding
Climate-induced devastating floods submerged a third of Pakistan last year, affecting 33 million people and leaving 1,739 dead, and could force 9 million people into poverty.
Global Fund has US$15.7 billion finish but misses its fundraising goal
Based on a final tally for its seventh replenishment cycle, the board said it has approved spending US$13.7 billion in more than 120 countries over the next three years to fight HIV, TB and malaria and strengthen those nations' health systems.
High stakes for COP27 summit as climate becomes a health crisis too
Drought, floods, disease outbreaks and a global food crisis add pressure for real action at the U.N. climate summit in Egypt.
World bankers meet amid global inflation and recession threats
With leadership under fire and a mix of crises, finance ministers and central bankers held World Bank meetings.
Hunger from climate, conflicts and rising prices hits developing world
With 50 million 'a step away from starvation,' humanitarian groups calculate a person dies of hunger every four seconds.
War in Ukraine accelerates poverty and starvation
Skyrocketing food and energy prices caused by Russia's invasion of Ukraine pushed 71 million more people into extreme poverty, UNDP reported.
Ukraine maps US$750B postwar recovery plan
More than 40 nations and international organizations signed onto a roadmap for Ukraine's recovery with longterm financial, political and technical support.
WTO tackles food, vaccines, fishing subsidies
Hunger, vaccine patents and fishing subsidies top the agenda as the global trade body holds its first ministerial conference in four and a half years.
Pandemic, climate, economy top Davos Agenda
Despite U.S.-China tensions, leaders touted cooperation on the pandemic, climate action, and economic recovery during the Davos Agenda virtual gathering.
More than US$5 billion aid sought for Afghans
Afghanistan needs more than $5 billion in aid to avert looming crises, the U.N. said in its largest-ever such appeal.
COVAX expands with World Bank backing
The World Bank approved US$2 billion in financing for COVID-19 vaccines in 17 developing countries as part of a two-year US$12 billion package.
U.N. study shows 'horrifying' violence against women
About 30% of all women worldwide have been subjected to physical or sexual violence at least once during their lives, U.N. agencies found in a survey.
Okonjo-Iweala to head WTO with U.S. backing
Nigerian-American Ngozi Okonjo-Iweala is poised to become the next head of Geneva-based WTO after clinching the "strong support" of the United States.