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World Bank shareholders approve $13 bln capital increase

Washington - World Bank shareholders approved a "historic" increase in the bank's lending capacity Saturday after the United States backed a reform package that curbs loans and charges more for higher income countries like China.

Mnuchin defends US call to slash support for development banks

Washington - US Treasury Secretary Steven Mnuchin on Wednesday defended budget proposals that would sharply cut or eliminate American support for multilateral aid agencies and programs.

World Bank upgrades global growth forecasts as recovery strengthens

Washington - For the first time in many years, the World Bank's outlook for the global economy is better than expected rather than worse, with all regions seeing improved growth, according to its latest forecast released Tuesday.

World Bank to stop financing oil, gas projects from 2019

Paris - The World Bank will stop financing oil and gas exploration and extraction from 2019, it announced Tuesday at a climate summit seeking to boost the global economy's shift to clean energy.

US slams World Bank lending to rich countries like China

Washington - World Bank lending to countries like China that are rich enough to finance their own development hurts poor countries that need help, a senior US Treasury official said Wednesday.

More than 1.1 bn 'invisible people' lack identification

Washington - More than 1.1 billion people worldwide officially don't exist -- going about their daily lives without proof of identity.The issue leaves a significant fraction of the global population deprived of health and education services.

US-world divide spills out at IMF-World Bank meetings

Washington - The growing split between the United States and the rest of the world spilled into the annual meetings of the International Monetary Fund and World Bank in Washington this week.

Ivanka Trump touts launch of World Bank businesswomen's fund

Washington - Ivanka Trump, President Donald Trump's daughter and a White House advisor, on Saturday touted the creation of a new World Bank initiative to foster entrepreneurship among women.

Trump administration rejects World Bank capital increase

Washington - The Trump administration on Friday rejected a capital increase by the World Bank, which the Bank says is necessary to expand its global anti-poverty mission.

Branson calls for sustainable rebuilding of storm-battered Caribbean

Washington - British tycoon Richard Branson called Friday for rebuilding the hurricane-thrashed Caribbean with more durable housing and sustainable energy, to limit the damage of future storms.

World Bank: 1.1 bn people 'invisible', lacking official identity

Washington - Over 1.1 billion people mainly in Asia and Africa lack official proof of identity that would get them access to public health care, education and finance, according to the World Bank.

Global economy chiefs told to reform while going is good

Washington - Finance chiefs from around the world were warned Thursday to get their houses in order while the global economy is strong and to be ready for possible shocks in the future.

Pacific islands can't tackle climate change alone: World Bank

Apia - Climate change will hit the Pacific harder than anywhere else on Earth and the region's tiny island nations need major international aid to deal with the challenge, the World Bank said Thursday.

Canadian mining firm demands $4.4 bn from Romania over massive gold mine

Washington - An embattled Canadian mining company said Thursday it will go after the Romanian government for blocking its attempts to develop a massive gold mine that could bring in billions of dollars.Gabriel Resources is seeking $4.

Global economy is set to post solid growth but risks remain

Washington - The global economy is set to post solid growth this year, amid improving world trade and better performance by large emerging markets, but key risks could still threaten the outlook, the World Bank said Sunday.

World Bank sees improving global economy but risks remain

Washington - The global economy is set to post solid growth this year, amid improving world trade and better performance by large emerging markets, but key risks could still threaten the outlook, the World Bank said Sunday.

Gaza power cuts causing humanitarian crisis: World Bank

Jerusalem - Constant fuel shortages and insufficent infrastructure have brought about a "humanitarian crisis" for Palestinians in the Hamas-ruled Gaza Strip, the World Bank said on Thursday.

EU's Georgieva resigns to join World Bank

Brussels - EU budget commissioner Kristalina Georgieva of Bulgaria has resigned from her Brussels job to become chief executive officer of the World Bank, her employers said Friday.

Protectionism's rise a balancing act for World Bank, IMF

Washington - Protectionism's rise in Europe and the United States is pushing the world's economic leaders toward a delicate balancing act: defending globalization but acknowledging the pain that sometimes comes with it.

IS recruits more educated than average: World Bank study

Washington - Recruits into the Islamic State group are better educated than their average countryman, contrary to popular belief, according to a new World Bank study.

World Bank releases $300 mn for Syrian refugees in Jordan

Washington - The World Bank announced it will release $300 million in loans to help facilitate the labor market for Syrian refugees in Jordan.

Global displaced made poor countries' burden: World Bank

Washington - The overwhelming majority of the world's displaced people, a burgeoning population fed by longterm conflicts, are hosted by developing countries, according to a report released Thursday by the World Bank.

World Bank chief Kim heads for 2nd term, as no other nominees

Washington - World Bank President Jim Yong Kim effectively won a second five-year term after nominations to lead the global development bank closed with no other candidates proposed.

World Bank suffering 'leadership crisis,' staff say

Washington - Staff at the World Bank delivered a broadside against its sitting president this week, saying the global lender faced a "crisis of leadership" and risked irrelevance on the world stage.

After Ebola, World Bank creates pandemic insurance plan

Sendai - The World Bank announced Saturday a new program to mobilize funds quickly against virulent disease outbreaks after the world was caught unprepared in the 2014 Ebola disaster in West Africa.

World Bank keeps its distance from Iran, despite lifted sanctions

Washington - The World Bank aims to eradicate global poverty, but its push stops at the Iranian border despite the easing of sanctions against Tehran and the country's pressing economic needs.

G20 embraces crackdown on tax havens, warns over 'Brexit'

Washington - The world's leading economies took a step toward denying tax evaders and money launderers around the world the ability to hide behind anonymous shell companies.

EU nations urge crackdown as Panama Papers claim Spanish minister

Washington - Europe's top economies called for a crackdown on tax havens and urged G20 countries to rip away the secrecy protecting shell companies, as the Panama Papers scandal claimed Spain's industry minister as the latest political victim.

Top European countries call to end shell company secrecy

Washington - Europe's five leading economies called for a crackdown on tax havens, urging the G20 powers to end the secrecy of shell companies that enables tax evasion and money laundering.

Dark economic cloud over IMF-World Bank meeting

Washington - Worries that the global economy is nearing a stall made worse by the specter of '"Brexit" cloud the air as the world's finance chiefs gather in Washington beginning Thursday for the IMF-World Bank Spring meetings.
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