The World Bank is an international financial organization founded in 1945 to provide financial and technical assistance to developing countries. Today, its main goals are to reduce poverty and build shared prosperity.
Despite progress in reducing extreme poverty, the number of poor worldwide is still “unacceptably high,” according to a World Bank report, which showed that billions of people still struggle to meet basic needs.
The growth of the global economy appears to have peaked, according to a new report from the World Bank. The report shows a lack of investments, a slowdown in productivity and tightening monetary policy.
Billions of dollars have been allocated by the World Bank for infrastructure projects in the Chinese Silk Road Economic Belt, according to the bank’s president Jim Yong Kim at the 1+6 roundtable meeting in Beijing.
A new report from the World Bank forecasts global economic growth to strengthen to 2.7 percent this year due to a pickup in manufacturing and trade, rising market confidence, and stabilizing commodity prices.