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World Bank: COVID-19 remittance flows to shrink 14% by 2021
As the COVID-19 pandemic and economic crisis continues to spread, the amount of money migrant workers send home is projected to decline 14% by 2021 compared to the pre-COVID-19 levels in 2019, according to the latest estimates published in the World Bank’s Migration and Development Brief.
Fight against extreme poverty helps nearly 92 million people: World Bank
Targeted efforts to improve the income of the world’s poorest households are benefitting nearly 92 million people across 75 countries, according to a World Bank study.
World Bank sees subdued recovery in 2021 and plenty of risk
The global economy will experience a subdued recovery this year from the devastating pandemic, the World Bank predicted, but it warned that the near-term outlook is highly uncertain and growth could be imperiled if coronavirus infections and delays in the rollout of vaccines continue.
World Bank ‘missed vital opportunities’ to support COVID response: Oxfam
Millions of people in low-income countries have been forced to go without health care or have had to pay for it during the coronavirus pandemic, despite billions of pounds in emergency World Bank funding, research has found.
World Bank approves $12b for COVID-19 vaccines
The World Bank said that it approved $12 billion for developing countries to finance the purchase and distribution of COVID-19 vaccines, tests and treatment.
As World Bank faces scrutiny, UN chief warns lenders over fossil fuels
United Nations Secretary-General Antonio Guterres urged development banks to stop backing fossil fuel projects, after a report found the World Bank had invested $12 billion in the sector since the 2015 Paris Agreement to combat climate change.
World Bank wants $12b for virus vaccine in poor nations
The World Bank said it has asked its board of directors to approve $12 billion to help poor countries purchase and distribute eventual vaccines against COVID-19.
World Bank chief warns extreme poverty could surge by 100m
The coronavirus pandemic may have driven as many as 100 million people back into extreme poverty, World Bank President David Malpass warned.
African trade deal could lift millions out of poverty
A pandemic-delayed African free trade deal, if fully implemented, could boost incomes across the continent, pull millions out of poverty and cushion against the negative fallout from COVID-19, the World Bank wrote in a report.
Coronavirus: World Bank warns 60m at risk of 'extreme poverty'
Up to 60 million people will be pushed into "extreme poverty" by the coronavirus, warned the president of the World Bank.
Pandemic could fuel demand for 'diaspora bonds', says World Bank
The coronavirus pandemic and its devastating economic impact on developing countries could fuel fresh interest in so-called diaspora bonds that allow migrants to support their countries of origin, experts from the World Bank and other groups said.
World Bank forecasts Philippine remittances to drop 13% in 2020
The World Bank predicts remittances to the Philippines will fall about 13 percent this year, Dilip Ratha, senior financial economist in Washington, said in an e-mailed reply to questions.
World Bank to launch COVID-19 emergency programs in over 100 countries
The World Bank Group (WBG) is expected to launch health emergency programs in over 100 countries by the end of April to support the fight against COVID-19, with 64 already in operation, President David Malpass said.
World Bank sees plunge in Latin America,  South Asia
The new coronavirus pandemic could send economies tumbling this year across Latin America and the Caribbean, also South Asia, forcing governments to take ownership stakes in struggling major businesses, according to a World Bank report.

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