El Salvador requested help from the World Bank for becoming a legal tender of Bitcoin and was rejected. The World bank cited concerns over the environmental impact of Bitcoin mining and currency transparency for the rejection. El Salvador had announced plans to be the first nation to formally adopt the
According to a new report published by the World Bank, the COVID-19 pandemic has pushed between 88 million and 114 million people into extreme poverty. This is by far the largest increase in extreme poverty in almost three decades and marks an end to a two-decade decline in poverty rates.
The World Bank has reportedly committed $12 billion in aid for developing countries that are facing the coronavirus outbreak and how to combat it financially and medically. The WB aid includes low-cost loans, grants and technical assistance to aid these countries in preventing the outbreak and managing the coronavirus if
The World Bank is arranging the financial industry’s first ‘blockchain bond,’ which will become available later this month and is slated to raise about $70 million. The bank is using it for its potential to streamline processes that are otherwise split between many different actors. The bank announced that the