03 Aug 2022

Bangladesh turns to ADB, World Bank for funds

The government of Bangladesh has sought assistance from both the World Bank and Asian Development Bank to increase its foreign exchange reserves. The government wrote letters to both entities requesting $1 billion to help the economy. The economy in Bangladesh has been struggling since the effects of the war in

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15 Apr 2022

Russia seeks Brazil’s help to prevent expulsion from IMF, World Bank

Russia has asked Brazil for support in a letter in the World Bank, International Monetary Fund and the G20 group of top economies. Russia was hoping this support would help counter the sanctions imposed by the West since it invaded Ukraine. Russian Finance Minister Anton Siluanov wrote to Economy Minister

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08 Mar 2022

War in Ukraine: World Bank approves $723m financial package

$723 million in loans and grants for Ukraine have been approved by the World Bank. The bank is working on another $3 billion package of support in the coming months. The bank also promised extra help for the neighboring countries that are taking in over 1.7 million refugees, mostly women,

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17 Jun 2021

World Bank rejects El Salvador request for Bitcoin help

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

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08 Oct 2020

Coronavirus Has Thrown Around 100 Million People Into Extreme Poverty, World Bank Estimates

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.

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04 Mar 2020

Coronavirus: World Bank pledges $12bn in emergency aid

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

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13 Aug 2018

World Bank to issue the first ‘blockchain bond’

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

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