Developing countries paid out $741 billion more in principal and interest on their external debt than they received in new financing between 2022 and 2024, marking the largest gap in at least 50 years, according to the World Bank’s latest International Debt Report. Despite these historic outflows, many nations found temporary relief in 2024 as… [Read More]
Brazil’s Northeast Poised to Drive Jobs, Growth, and Clean Energy Opportunities
Brazil’s Northeast has the potential to become a major engine of national growth, job creation, and sustainable development, according to a new World Bank report, “Routes to the Northeast: Productivity, Jobs, and Inclusion.” Home to 54 million people—80 percent of whom are of working age—the region offers one of the country’s largest and most dynamic… [Read More]
World Bank Urges Gabon to Strengthen Climate Adaptation to Protect Growth and Livelihoods
The World Bank’s Gabon Country Climate and Development Report (CCDR), released today, emphasizes the urgent need for the Central African nation to bolster climate adaptation to safeguard its economy, natural wealth, and people’s livelihoods. The report highlights Gabon’s position as a global environmental leader and one of the world’s most forested countries, while underlining its… [Read More]
Algeria Strengthens Growth Amid Climate Challenges and Economic Diversification
Algeria’s economy showed resilience in the first half of 2025, expanding by 4.1 percent, with GDP growth projected at 3.8 percent for the full year, according to the World Bank’s Fall 2025 Algeria Economic Update. Non-hydrocarbon sectors drove much of this momentum, growing 5.4 percent, while inflation eased to 1.7 percent over the first nine… [Read More]
World Bank and Korea Launch Global Digital Knowledge Hub to Power AI-Driven Transformation
The World Bank Group (WBG), in partnership with the Republic of Korea, has unveiled the Korea-WBG Global Digital Knowledge Center, a state-of-the-art hub aimed at accelerating digital transformation and harnessing Artificial Intelligence (AI) for inclusive growth and job creation. The center seeks to equip countries with the knowledge, tools, and strategies needed to thrive in… [Read More]
Empowering Women and Rebuilding Communities: ILO Vocational Training Spurs Post-Earthquake Recovery in Myanmar
In the wake of the devastating March 2025 earthquake in Myanmar, the International Labour Organization (ILO) is equipping women with essential skills to earn incomes, rebuild livelihoods, and contribute to community recovery. Two training courses launched in late November 2025 in Southern Shan State—a two-week computer literacy course and a two-month advanced sewing techniques programme—enrolled… [Read More]
Amid Sudan’s Devastation, Courage and Resilience Offer Glimmers of Hope
Since fighting erupted in April 2023 between Sudan’s military government and the formerly allied Rapid Support Forces (RSF), the country has been plunged into one of the world’s most severe crises. Triggered by the collapse of the transition to civilian rule following the 2019 ousting of longtime President Omar al-Bashir, the conflict has displaced over… [Read More]
European Commission Faces Backlash for Plans to Weaken Water Protections
The European Commission has sparked alarm among environmental groups by announcing plans to review and revise the Water Framework Directive (WFD) by the second quarter of 2026 under the RESourceEU Action Plan, citing the goal of promoting “access to critical raw materials in the EU.” Critics warn that this move could seriously undermine European water… [Read More]
Sri Lanka Faces Worst Floods in Decades as IFRC Launches $5 Million Emergency Appeal
The International Federation of Red Cross and Red Crescent Societies (IFRC) has launched a CHF 5 million Emergency Appeal to support the Sri Lanka Red Cross Society (SLRCS) in responding to devastating floods and landslides caused by Cyclone Ditwah, which struck the island nation on 27 November 2025. The cyclone unleashed over 350 mm of… [Read More]
Faroe Islands Take Key Step Toward Safe and Legal Abortion
The Faroese parliament, the Lagtinget, has voted to amend the territory’s restrictive abortion law, permitting access to abortion on request up until the end of the twelfth week of pregnancy. The decision, welcomed by Amnesty International Faroe Islands, marks a significant step toward ensuring safe and legal abortion services in the region. Turið Maria, Director… [Read More]
UK Recognises Cryptocurrency as Personal Property, Strengthening Legal Protections and Boosting Fintech
The UK has become one of the first countries in the world to formally recognise digital assets, including cryptocurrencies and non-fungible tokens (NFTs), as personal property, offering millions of owners stronger legal protection. The Property (Digital Assets etc) Act, which recently received Royal Assent, clarifies that digital assets are to be treated like traditional property,… [Read More]
ADB and World Bank Launch Groundbreaking Pacific Projects to Boost Health and Infrastructure
The Asian Development Bank (ADB) and the World Bank Group have unveiled the first two projects under their innovative Full Mutual Reliance Framework, a cofinancing model designed to streamline development finance and maximize impact in the Pacific region. The framework allows countries to work with a single lead lender, either ADB or the World Bank,… [Read More]
African Development Bank Backs OCP Group with €450 Million Guarantee for Green Investments
The African Development Bank Group has approved a non-sovereign partial credit guarantee of up to €450 million to support Morocco’s Office Chérifien des Phosphates (OCP) Group, enabling it to raise up to €530 million in long-term funding from international financial institutions. This marks the first time such a financing instrument has been launched in Morocco… [Read More]
PROFISHBLUE Transforms Fisheries and Boosts Livelihoods Across Southern Africa
A regional fisheries programme funded by the African Development Bank Group is transforming the lives of nearly three million people across Southern Africa, boosting fish production, trade, and incomes while strengthening food security and climate resilience. The $9.2 million initiative, known as the Program for Improving Fisheries Governance and Blue Economy Trade Corridors (PROFISHBLUE), has… [Read More]
New Malaria Tools Saved One Million Lives in 2024, But Drug Resistance Threatens Hard-Won Progress
New prevention tools against malaria—including dual-ingredient mosquito nets and WHO-recommended vaccines—helped avert an estimated 170 million cases and save 1 million lives in 2024, according to the latest World Malaria Report released by the World Health Organization (WHO). Despite these achievements, growing drug resistance and funding shortfalls threaten to reverse progress. Since WHO approved the… [Read More]
IFC Makes First-Ever Global Green Hydrogen Investment, Selecting Uruguay as Regional Clean Energy Pioneer
The International Finance Corporation (IFC), part of the World Bank Group, has chosen Uruguay for its first global investment in green hydrogen, partnering with Grupo Santander to develop Kahirós—Uruguay’s first major project in the sector. The initiative is set to generate new jobs and position the country as a regional leader in scalable clean energy… [Read More]
Global Partnership Push: UN Summit Charts New Path to Help Poorest Nations Graduate from Vulnerability to Prosperity
A major United Nations meeting in Doha has concluded with renewed momentum to support the world’s poorest nations in building long-term stability and economic resilience. Over three days, ministers, development partners and UN agencies focused on how Least Developed Countries (LDCs) can graduate from the LDC category—and crucially remain on a sustainable growth path once… [Read More]
Breaking Barriers: Thai Language Classes Empower Migrant Workers to Access Rights and Services
Basic language skills are proving to be a critical lifeline for migrant workers in Thailand, offering them greater confidence, independence and access to essential services such as healthcare and labour protections. A new series of Thai language classes is helping workers overcome daily communication challenges, from speaking with supervisors to navigating medical appointments. Migrant workers—many… [Read More]
Zimbabwe on the Rise: Economic Rebound Sparks Optimism for Investment and Jobs
Zimbabwe’s economy is poised for a strong rebound, with GDP expected to grow by 6.6 percent, driven by a recovery in agriculture, iron and steel production, and services—outpacing many countries in Sub-Saharan Africa, according to the newly released sixth Zimbabwe Economic Update (ZEU). The report highlights easing inflation and sustained growth momentum while urging continued… [Read More]
African Development Bank Approves $200 Million to Expand Nigeria’s Agro-Industrial Processing Zones
Nigeria’s agricultural transformation drive has gained major momentum, with the African Development Bank Group approving $200 million for the first tranche of funding under Phase II of the Special Agro-Industrial Processing Zones (SAPZ) Program. The decision, endorsed on December 1st, marks the beginning of a multi-tranche facility that will ultimately support 27 additional states across… [Read More]
Australia Boosts Healthcare Innovation with $9.6M Investment to Improve Patient Support and System Efficiency
The National Health and Medical Research Council (NHMRC) has announced a $9.6 million investment into research aimed at improving the patient journey and strengthening the country’s capacity to meet rising healthcare demand. High rates of healthcare service use in Australia are strongly linked to an ageing population, complex medical needs, and challenges in accessing timely,… [Read More]
Calling Africa’s Digital Trailblazers: UNDP Launches New Forum to Scale Home-Grown Tech Solutions
UNDP, through its Resilience Hub for Africa, has announced an invitation for stakeholders across the continent to express interest in joining the African Digital Transformation Solution Forum — a new platform dedicated to showcasing and scaling digital innovations that enhance resilience, inclusion, and sustainable development. The Forum will unite governments, innovators, development partners, private-sector leaders,… [Read More]
Circular Economy Powers Up: Over 140 Million Jobs Driving a Greener Global Future
A groundbreaking new report reveals that between 121 and 142 million people around the world are currently employed in the circular economy, contributing through sectors such as repair, recycling, second-hand trade, and waste management. This accounts for roughly 5 to 5.8 per cent of global employment outside of agriculture, according to the study released jointly… [Read More]
