World Bank

Palestinians flee from the southern Gaza city of Rafah during an Israeli ground and air offensive May 28, 2024

The war in the Palestinian territories is having a catastrophic impact on the local economy, the World Bank has said, noting that all sectors have been badly affected by Israel's attacks.

The World Bank Board has approved $660 million in financing to support Türkiye's efforts to expand electric rail transportation that will help improve the efficient movement of goods across the country, boost exports, create jobs and reduce greenhouse gas (GHG) emissions.

Hours after a U.S.-brokered ceasefire to end the war between Israel and Hezbollah went into effect, Lebanon woke up to the sound of celebratory gunfire instead of Israeli airstrikes and drones buzzing overhead.

Lebanon's parliament will meet on Jan. 9 to elect a new president to end more than two years without a head of state, as the country's military deployed troops and tanks across the south yesterday under the ceasefire.

Türkiye and the World Bank are in discussion to finance a $28 billion energy transmission infrastructure project, a cornerstone of Türkiye's renewable energy transformation plan.

The initiative aligns with Türkiye's 2035 renewable energy targets, aiming to expand the country's energy capacity and diversify its resources.

Greece shows a significant lag in terms of governance effectiveness, based on specific indicators of the World Bank, compared to the high-income members of the OECD, and even compared to 2013, with the country in its economic crisis.

Moldova's pro-EU incumbent Maia Sandu on Sunday won a tense presidential runoff, beating her rival backed by a pro-Russian party in what she described as a "lesson in democracy."

The election in the ex-Soviet republic that lies sandwiched between war-torn Ukraine and the European Union has been overshadowed by allegations of meddling by Moscow.

Multilateral lender Climate Investment Funds (CIF) has agreed to back a $1 billion plan to upgrade Turkey's electricity grid so it can handle more renewable energy by providing an initial investment to the project, it said on Thursday.

Hello, now we knew it, we wrote about it, but who believed us? Stefanos is still here, but it’s like he’s not here at all; poor guy got swallowed up by vested interests. Even the last “pillars” of Democracy—Liagas and Kainourgiou, who supported him—have started to…waver, kind of erased him.