AfDB announces US$10 billion virus plan
The African Development Bank Group launched emergency measures to provide up to US$10 billion in credit for those struggling with the coronavirus pandemic.
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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G-20 pledges US$5 trillion to fight virus
Leaders of G-20 major economies promised to spend more than US$5 trillion to prop up the global economy and hasten recovery from the pandemic.
WHO and foundations launch virus fund
WHO and two international foundations launched a first-of-its-kind fund to help vulnerable populations and weak health systems cope with the pandemic.
U.N. warns of US$2 trillion losses to virus
Trade economists who advise the U.N. warned COVID-19 could cost the world economy up to US$2 trillion in 2020 and push nations into recession.
UNCTAD sees US$50 billion exports drop
The global coronavirus outbreak likely caused a US$50 billion decline in worldwide manufacturing exports from China in February alone, UNCTAD reported.
G-7 pledges to fight new coronavirus risks
G-7 finance chiefs vowed to safeguard their economies from the coronavirus outbreak, but did not offer specifics about what they might be prepared to do.
Bond for financing development shows confidence in organizations
The World Bank's benchmark bond was set at its tightest spread to U.S. treasuries in the organization's history.
World Bank warns of US$55 trillion debt
Developing nations ran up US$55 trillion of debt in 2018 as part of an eight-year debt surge that is the largest in a half-century, the World Bank said.
Poor nations focus of global refugee forum
Six countries and the U.N. opened the first Global Refugee Forum to help poor nations overwhelmed by taking in people fleeing for safety across borders.
Gavi approves new Ebola vaccine stockpile
A public–private global health partnership said it will invest US$178 million to establish an emergency stockpile of 500,000 Ebola vaccine doses worldwide.
World Bank and IMF caution on slowdown
World Bank and International Monetary Fund leaders called on 189 member nations for help in easing trade and geopolitical tensions.
World Bank and IMF accent island nations
The World Bank and IMF opened fall meetings to survey a slowing world economy, U.S.-China trade war and urgent climate threats to small island nations.
Georgieva starts in new post as IMF chief
Bulgarian economist Kristalina Georgieva took over as IMF chief, signaling her five-year term will champion empowering women and fighting climate change.
AfDB to end financing for fossil fuel energy
The African Development Bank Group will no longer support "19th century technologies" like coal and oil and will help create the world's largest "solar zone."
U.N. seeks carbon neutral planet by 2050
Some 40% of the U.N.'s 193 member nations committed to achieving carbon neutrality by 2050, and nearly the same amount vowed to do more by 2020.
IMF predicts hit to global GDP from tariffs
The IMF said tariffs imposed or threatened by the U.S. and China could reduce global economic output by 0.8% in 2020 and cause more losses later.