Remittances to low- and middle-income countries are projected to have grown a strong 7.3 percent to reach $589 billion in 2021, the World Bank reports.
The COVID-19 pandemic could drive up the share of 10-year-olds who cannot read a basic text, to around 70 percent in low- and middle-income countries, according to preliminary analysis from an upcoming World Bank report. This rise is a result of the prolonged school closures and poor learning outcomes despite government efforts to deliver remote learning. In many of these countries, schools have been closed for as many as 200 to 250 days, and many have yet to reopen.
When you think of climate migration, you probably think of people moving from one country to another to escape rising seas or expanding deserts. And to some extent, you’d be right. But the fact is, the vast majority of climate migrants are actually moving within their country’s borders Hotspots of climate migration may start to emerge as early as 2030, as people leave places that can no longer sustain them and go to areas that offer opportunities. The drivers of these migrations, according to the World Bank report, will be water scarcity, declining crop productivity and sea-level rise.
The World Bank commits to increase climate finance targets to 35% of total commitments over the next five years, align financing flows with the Paris Agreement, and integrate climate and development.
People pack up and leave their homes for many reasons – economic, social, political – and these drivers are often interconnected. A more complete picture of patterns of mobility must now include those moving due to climate change – a trend expected to increase over time - as people journey from one part of their countries to another. Over 216 million people could move within their countries by 2050 across six regions, according to the World Bank’s latest Groundswell report.
Air pollution is a multifaceted problem – representing the world’s leading environmental risk to health, costing the globe an estimated $8.1 trillion in 2019. Air pollution is also deadly, causing or contributing to heart attacks, strokes, lung cancer, and respiratory diseases and killing an estimated seven million people every year. 95 percent of these deaths occur in low- and middle- income countries. As such, tackling air pollution is a component of the World Bank’s mission to eradicate poverty and promote shared prosperity. Less obvious is what can be done to address this problem.
If you are between 18 and 35 years, the World Bank invites you to submit a 1-min video OR in a photo identifying 3 possible actions to build a greener, more inclusive future.
Global growth is surging again, only a year after COVID-19 triggered the deepest recession since World War II. According to the World Bank, this year is likely to mark the strongest post-recession rebound in 80 years: global GDP is expected to expand 5.6 percent. Almost all advanced economies will go back to their pre-pandemic per-capita income levels in 2022. In some parts of the world, the pandemic’s damage is being repaired quickly. For the world’s 74 poorest countries, accounting for roughly half of all people living on less than $1.90 a day, the global “recovery” is nowhere to be seen.
Years into civil war, millions of Yemenis are in desperate need of food, shelter and healthcare. Already the poorest country in the Middle East and North Africa, persistent conflict since 2015 has kept Yemen in a relentless state of crisis. The COVID-19 pandemic has further torn at the seams of thread-bare medical and social protection systems, intensifying the need for urgent action. Amidst this expanse of uncertainty, the stories of the Yemeni people are full of rebuilding, hope and resilience. Read the story of Hassan's family and others, who have been helped by the World Bank and its partners.
The global economy is poised to stage its most robust post-recession recovery in 80 years in 2021. But the rebound is expected to be uneven across countries, as major economies look set to register strong growth even as many developing economies lag.
Remittance flows remained resilient in 2020, registering a smaller decline than previously projected. Remittance flows to low- and middle-income countries reached $540 billion in 2020, just 1.6 percent below the 2019 total of $548 billion, according to the latest World Bank’s Migration and Development Brief. The decline in 2020 was smaller than the one during the 2009 global financial crisis, mostly due to the fiscal stimulus that resulted in better-than-expected economic conditions in host countries.
The COVID-19 pandemic has highlighted the importance of digital technologies in African countries, and the latest Africa’s Pulse provides new evidence on how digital is enhancing the productivity of existing jobs and creating new jobs, for people of all skill levels and backgrounds.
At a time when we face enormous challenges brought on by the COVID-19 pandemic, it is heartening to see the world mobilizing as never before to tackle the looming crisis of global warming. From renewable energy to carbon markets to sustainable agriculture, countries are taking steps to address emissions and enhance resilience. But despite all the positive momentum, there is one area in particular that requires urgent action: transport. Without decarbonizing transport, no scenario for achieving the 1.5-degree climate goal is feasible, and there we are currently heading in the wrong direction. The global transport sector emits around 24 percent of the world’s total energy-related carbon emissions, and this is expected to grow by 60 percent by 2050.
While the past year has been tremendously challenging, there have been remarkable stories of human resilience, ingenuity, and creativity. From helping small companies weather the pandemic, through supporting women firefighters, creating sustainable jobs for youth, connecting people to high-quality healthcare and vulnerable groups to food suplies, to kickstarting sanitizer production - the World Bank shares six stories of hope from around the globe. These are not billion-dollar projects, but the tales of everyday entrepreneurship and innovation happening on a small scale with a big impact.
The global COVID-19 vaccination campaign will be the largest in history. The delivery of COVID-19 vaccines presents challenges unprecedented in scale, speed, and specificities, especially in low- and middle-income countries. Anticipating the availability of safe and effective vaccines, the World Bank together with WHO, UNICEF, the Global Fund, and Gavi rolled out readiness assessments in more than 100 low and middle-income countries. As countries ramp up efforts to vaccinate their populations, the world’s poorest countries show varying degrees of readiness.