Tag: Malpass

Aid from two World Bank entities hit record $75 bn in 2022

WASHINGTON, United States (AFP) – Two World Bank entities provided a record $75 billion in financing last year, said a letter by its president, as developing countries faced crises like climate change and Russia’s invasion of Ukraine. The aid comes as countries emerging from the Covid-19 pandemic were hit by fallout from war in Ukraine and surging inflation, while climate change brought further devastation, said World Bank President David Malpass in a letter seen by AFP. […]

Massive debt wave could crash on developing countries, World Bank warns

  by Heather SCOTT Agence France Presse A wave of debt in emerging and developing nations has grown faster and larger than in any period of the last five decades and could end with another crisis, the World Bank warned Thursday. And if the wave breaks, it could be more damaging since it would engulf private companies in addition to governments, at a time when economic growth is sluggish, according to a new report that […]