World Bank Group

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has mobilized a $3.6 billion investment package for Türkiye, in the fiscal year from July 2023 to June 2024.

The International Finance Corporation (IFC), a financial division of the World Bank, intends to invest 1.9 billion USD in projects in Ukraine over the next 18 months, according to a statement from an IFC official to Reuters.

The World Bank has increased its support for Türkiye from $17 billion to $35 billion, providing an additional $18 billion of resources for the next three years, Treasury and Finance Minister Mehmet Şimşek has said.

International Finance Corporation (IFC), a member of the World Bank Group, has said it has invested over $1.46 billion in Türkiye to support private sector development in fiscal year 2023.

Analysis by Joseph Stiglitz, American economist and Nobel laureate, comments for Project Sindicate

World Bank leaders, including then-Chief Executive Kristalina Georgieva, applied "undue pressure" on staff to boost China's ranking in the bank's "Doing Business 2018" report, according to an independent investigation released Thursday.

President Klaus Iohannis welcomed World Bank Chief Executive Officer (CEO) Kristalina Georgieva at the Cotroceni Presidential Palace on Wednesday, with the WB official emphasising the crucial importance of the rule of law institutions and investment in human capital in terms of the economic development of a country.

The World Bank's Board of Executive Directors approved financing of 500 million euros ($561 million) to support sustainable development in Turkish cities.  This comes in the form of an "additional financing" (AF) to the Sustainable Cities 2 Project, the second in a series of projects under the Program for Sustainable Cities.

As the World Bank's board considers nominations for the institution's next president (Donald Trump is expected to nominate David Malpass, the US Treasury department's top official on international affairs), there are two critical ways he or she can make the bank more effective.

Bulgaria's former EU Commissioner, Kristalina Georgieva, assumes the role of Interim President of the World Bank effective as of 1st of February, reports BNT.

The appointment comes after World Bank Group President Jim Yong Kim on 7th of January announced that he will be stepping down from his position.