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World Bank

News from the global financial institution that provides loans and grants to developing countries, aiming to reduce poverty and foster economic development

The Central Bank of Iraq Tower in Al Jadiriyah district in Baghdad. Iraq is looking to attract more investment to boost its economy. AFP

IFC pledges $1 billion to boost Iraq’s private sector

EconomySeptember 14, 2025

The World Bank funding will also help Lebanon to carry out sustainable management of rubble in conflict-affected areas. AFP

World Bank allocates $400m for war-devastated Lebanon and Syria reconstruction

EconomyJune 25, 2025

The World Bank projects the UAE economy to grow at 4.9 per cent in 2026 and 2027. Antonie Robertson/The National

World Bank upgrades UAE growth forecast to 4.6% this year

EconomyJune 11, 2025

Collapsed buildings in Aleppo. The estimated cost of reconstruction in Syria varies from $250 billion to $500 billion. AFP

World Bank clears Syria of $15.5m debt

EconomyMay 16, 2025

Putting a stop to flaring is expected to result in environmental and economic benefits. Reuters

UAE hosts World Bank meeting to curb global gas flaring by 2030

EnergyMay 01, 2025

US Treasury Secretary Scott Bessent called on the International Monetary Fund and World Bank to refocus on their core missions. Reuters

Reforms needed at IMF and World Bank, US Treasury Secretary says

USApril 23, 2025

How surging gold prices are affecting sales down at the Gold Souq. Deira, Dubai. Chris Whiteoak / The National

Middle East economic growth to pick up pace in 2025

EconomyApril 23, 2025

IMF Managing Director Kristalina Georgieva speaks during a curtain-raiser speech ahead of the 2024 spring meetings at the fund's headquarters in Washington. Bloomberg

Spring meetings begin as Trump tariffs loom over world economy

EconomyApril 21, 2025

World Bank President Ajay Banga says his institution has had active discussions with the new US administration. Bloomberg

World Bank president urges more open trade among developing countries

EconomyApril 16, 2025

A bank customer holds a placard reading 'The new president's priority must be depositors' savings' during a demonstration in downtown Beirut. EPA

Lebanon's bank customers won't see the $93 billion they're owed 'any time soon'

BusinessApril 16, 2025

Buildings destroyed by Israeli strikes near the border wall in the southern Lebanese village of Ramia. AFP

Lebanon needs $11bn for post-war recovery, says World Bank

EconomyMarch 07, 2025

Destruction across the city of Jabalia in the Gaza Strip. The UN, World Bank and EU say it will cost $53 billion to rebuild Gaza. AP

Gaza not ready for rebuilding amid security and governance hurdles, UN says

MENAFebruary 19, 2025

Saudi Arabia and other Opec+ members extended their voluntary production cuts in December last year. AFP

Voluntary Opec+ production cuts reduce Middle East’s 2025 outlook, World Bank says

EconomyJanuary 16, 2025

A market in Cairo. Egypt held the most external debt in the Middle East and North Africa last year, World Bank data shows. EPA

World Bank: Middle East and North Africa debt climbs to a record $443bn

EconomyDecember 03, 2024

President Joe Biden at the G20 Summit in Rio de Janeiro, Brazil. Mr Biden's pledge is part of his efforts to future-proof alliances and his climate legacy. AP

Biden pledges $4bn to World Bank for poorest countries

USNovember 19, 2024

The price of Brent crude oil is expected to average $80 per barrel this year, before falling to $73 and $72 per barrel in 2025 and 2026, respectively, according to the World Bank. Reuters

'Oil glut' could limit impact of Middle East conflict on crude prices

BusinessOctober 29, 2024

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