Finance & Economics

Lao PDR: Reform Essential to Restore Economic Stability

Despite signs of economic recovery in early 2022, the Lao People’s Democratic Republic faces increased challenges from currency depreciation and high inflation, according to the World Bank’s latest economic update for the country.

Unemployment Rates, OECD - Updated: November 2022

The unemployment rate in the OECD was stable in September 2022, at 4.9%, slightly above its lowest point since the start of the series in 2001 (4.8%) recorded in July 2022. This rate was 0.4 percentage point below its pre-pandemic level. The number of...

New Report by the World Bank Identifies Key Challenges and Opportunities for Tunisia’s Development

The World Bank has released its second Systematic Country Diagnostic (SCD) report for Tunisia, titled Rebuilding Trust and Meeting Aspirations for a More Prosperous and Inclusive Tunisia, following the first edition produced in 2015.

Pakistan Urgently Needs Significant Investments in Climate Resilience to Secure its Economy and Reduce Poverty

This year’s heatwave and devastating floods are a reminder that climate change-induced disasters can significantly set back Pakistan’s development ambitions and its ability to reduce poverty. These disasters have caused more than 1,700 deaths and...

World Bank Supports Safer Roads for Economic Integration in Mozambique

The World Bank approved a $400 million International Development Association (*IDA) grant to support the Republic of Mozambique’s Safer Roads for Economic Integration Project. The objective of the project is to improve road connectivity, safety, and...

World Bank Supports Urban Transport in the Maputo Metropolitan Area

The World Bank approved a $250 million grant from the International Development Association (*IDA) to improve mobility and accessibility in the Maputo Metropolitan Area (MMA), on August 24th.

Reforms Can Support Inclusive Growth in Turbulent Economic Times

Reforms supported by investments in green and digital infrastructure and human capital can boost, and even double, the growth potential in some EU member states between now and 2030, according to a new World Bank report.

New Financing Will Support Indonesia to Improve and Protect Human Capital

The World Bank's Board of Executive Directors has approved a $350 million loan on June 29, 2022, to enhance human capital development in Indonesia by safeguarding its people through income protection, increasing access to healthcare services,...

World Bank Provides US$34 million in Grants to Improve Social Protection for Workers and Accelerate Digital Development in Maldives

The Government of Maldives and the World Bank signed two grant agreements totalling US$34 million (MVR524 million) to strengthen pension and safety nets for Maldivian workers and improve their employability, and to leverage digital technologies for...

Cambodia’s Economy Growing but Must Weather Oil Price Shock

Cambodia’s economy will grow by 4.5 percent in 2022, according to the latest World Bank projections. Weathering the Oil Price Shock, the Bank’s June 2022 economic update for Cambodia, shows that while domestic economic activity and goods exports...