World Bank’s IDA20 launches $93B in funds for low-income nations

World Bank’s IDA20 launches $93B in funds for low-income nations

The World Bank has formally launched its US$93 billion in funding commitments to help low-income countries build up their economies in response to the COVID-19 pandemic and other setbacks, with funds sourced in part from 52 donor nations through the IDA20 replenishment. The funding is meant to target “overlapping crises—climate…

World Bank warns of COVID impacts on global poverty

World Bank warns of COVID impacts on global poverty

The COVID-19 pandemic is expected to push as many as 150 million more people into extreme poverty by 2021, the World Bank says, marking the first time in 20 years that the number of those in such poverty will rise. The pandemic “compounds the forces of conflict and climate change”…