The World Bank expects poverty levels to decline further in the coming years, although at a slower rate.

The World Bank expects poverty levels to decline further in the coming years, although at a slower rate.

Three Central Asian countries discussed Kambarata-1 in Istanbul, but financing, water-sharing rules and local impacts remain unresolved.

Kazakhstan, Kyrgyzstan and Uzbekistan held World Bank-supported talks in Istanbul on their planned joint Kambarata-1 hydropower project.

Commodity prices are set to rise by 23% in 2026 as the war between Russia and Ukraine compounds a historic Middle East energy shock, the World Bank said.

Prime Minister Narendra Modi has highlighted sharp decline in India's poverty citing World Bank report. In a post on Instagram featuring the inspiring and energetic song 'Thaan Liya' from the Bollywood movie 'Dasvi' as background music, Modi highlighted that the "historic" drop in poverty represents a generational surge in opportunities. Citing the World Bank, Modi pointed out that 49.6 crore people moved out of poverty between 2011 and 2023, causing the extreme poverty rate to plummet by 90 per cent - from more than one in four Indians to roughly one in 38. "Employment grew by 13.4 crore in just six years. That is nearly twice the increase in India's working-age population," he added. The prime minister emphasised that inequality has fallen sharply, with India's Gini Index -- the primary metric used to measure economic inequality -- dropping by over 20 per cent to reach 23.0. The prime minister also took a jibe the Congress over its decades-old 'Garibi Hatao' campaign, asserting that eradicating poverty was never just a slogan for his government, but a steadfast commitment. "India has recorded one of the fastest poverty declines in the world. This is what the World Bank is saying," he noted. India...

The steep drop in India extreme poverty marks a historic economic shift for millions, but major questions remain. Read the full story.

Inadequate infrastructure, weak planning and limited investment threaten the region’s ability to create enough jobs for its rapidly expanding workforce, the World Bank warns

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The World Bank Group delivered $48 billion in own-account climate co-benefits in Fiscal Year 2026, representing 44% of total commitments. The World Bank Group also mobilized a record $48 billion in private capital with climate co-benefits, bringing total climate-related financing to $96 billion, 21% higher than FY25. IFC and MIGA climate-related mobilization increased by approximately 50% from FY25, helping drive record levels of climate-related financing. In FY26, $15 billion in climate co-benefits supported adaptation, representing 31% of World Bank Group climate co-benefits. In IDA countries, 51% of climate co-benefits supported adaptation. The World Bank Group remains the largest MDB provider of climate finance to low- and middle-income countries, accounting for 50% of total MDB climate finance and 53% of adaptation finance between 2021 and 2025. The World Bank Group is increasingly focused not only on financing climate-smart development, but also on measuring the outcomes and impact those investments deliver for people, jobs, resilience, and growth. The World Bank Group’s active portfolio is expected to help 465 million people become more resilient to climate risks, a 45% increase over FY25. It is also expected to contribute to 345 million metric tons of CO₂ equivalent in net emissions reductions per year, a...

New Delhi, Nov 1 (SocialNews.XYZ) Prime Minister Narendra Modi on Saturday highlighted India's progress in poverty reduction, sharing a carousel of findings from the World Bank's latest report on poverty in the country. He described the decline in extreme poverty as a significant achievement, attributing the progress to the government's commitment to poverty alleviation. Sharing the carousel on Instagram, PM Modi wrote, “A historic fall in poverty. A generational rise in opportunity.” One of the slides carried the message: “‘Gareebi Hatao’ was never a slogan for us. It is our commitment…” The statement highlighted the government's stated focus on addressing poverty through sustained development efforts and welfare initiatives.

Egypt has entered into a $1 billion financing agreement with the World Bank, aimed at enhancing economic competitiveness, improving the business environment, and supporting the country's green transition. The agreement is part of Egypt's broader strategy to mobilize development financing from international and regional institutions to strengthen economic resilience against external shocks. According to the Ministry of Foreign Affairs, the World Bank has also highlighted risks to Egypt's economic outlook due to the ongoing conflict in the Middle East. The funding aligns with the World Bank Group's 2023-2027 Country Partnership Framework for Egypt, which includes a $7 billion financial envelope over five years. This comprises $5 billion from the International Bank for Reconstruction and Development and $2 billion from the International Finance Corporation, along with guarantees from the Multilateral Investment Guarantee Agency. The agreement supports Egypt's efforts to achieve green development, create a conducive investment environment for job opportunities, and improve citizens' living standards. The deal comes as Egypt seeks to attract more private investment, improve its business environment, and sustain economic growth amid regional instability and pressure on external financing. The World Bank approved the $1 billion financing in May as the second operation in a series of three development policy financing packages designed to support structural reforms and strengthen economic resilience. The second phase includes social, economic, and environmental reforms to support sustainable growth, improve investment conditions, and create jobs. Key measures include expanding the beneficiary base of the Takaful and Karama social protection programs for low-income households, improving greenhouse gas emissions monitoring, developing carbon credit markets, and enhancing the financial sustainability of the electricity and water sectors. Egypt's economy grew by 5.1 percent in fiscal year 2025/26, according to the World Bank's October 2026 Macro Poverty Outlook, though the lender has noted risks from the Middle East conflict.

India has over the last decade made “remarkable progress” in reducing poverty across both monetary and non-monetary dimensions, the World Bank said in a new report, adding the country saw one of the fastest reductions in poverty in the world. “Between 2011 and 2023, the share of the population living below the Lower Middle-Income Country line ($4.2/day) fell from 57.7% to 16.1%, lifting an estimated 496 million people out of poverty, while extreme poverty ($3.00/day) declined from 27.1% to 2.6%,” the World Bank said in its October 2026 Poverty and Equity Brief for India released on Friday (October 30, 2026). Further, it said it projected poverty to continue declining, “albeit more gradually”, with the poverty rate as measured according to the $4.20/day line expected to fall from 14.2% in 2026 to 12.1% by 2028. “On the non-monetary dimensions, as measured by the Oxford Poverty and Human Development Initiative’s (OPHI) Multidimensional Poverty Index (MPI), poverty fell sharply from 53.8% in 2005-06 to 16.4% in 2019-21, with the World Bank MPI measure at 15.5% in 2022-23,” the World Bank said. FM hails findings Finance Minister Nirmala Sitharaman welcomed the findings and, in a social media post, highlighted the various positive aspects the...

India removed approximately 496 million individuals from poverty between 2011 and 2023, resulting the percentage of the population in extreme poverty to fall significantly from 27.1 per cent to 2.6 per cent, according to the World Bank's Poverty and Equity Brief from October 2026. The report indicated that the percentage of individuals living below the lower-middle-income poverty threshold of USD 4.20 daily, calculated using 2021 purchasing power parity (PPP), decreased from 57.7 per cent to 16.1 per cent over the period. Describing the advancements as 'among the quickest reductions in poverty globally,' the World Bank noted that India had shown enhancements in both financial and non-financial indicators of poverty. The report connected the drop primarily to robust consumption growth, increasing employment, especially among women, and heightened social transfers, such as food assistance. Poverty is expected to decrease more, but at a reduced rate. The World Bank's estimates suggest that the poverty rate at the USD 4.20-a-day level may decrease from 14.2 per cent in 2026 to 12.1 per cent by 2028. However, it warned that these are indicatives estimate derived from microsimulations and may vary as fresh labour market and macroeconomic information is released. Non-financial poverty has likewise decreased notably...

New Delhi, Oct 30 (SocialNews.XYZ) Finance Minister Nirmala Sitharaman on Friday highlighted that the World Bank's October 2026 Poverty & Equity Brief records India’s progress as one of the fastest poverty declines in the world. The report states that several significant gains, including 49.6 crore people moving above the lower-middle-income poverty line of $4.20 a day between 2011 and 2023, with the poverty rate declining from 57.7 per cent to 16.1 per cent, the Finance Minister said. Extreme poverty declined from 27.1 per cent to 2.6 per cent over the same period, measured at $3 a day.

India lifted about 49.6 crore people out of poverty between 2011 and 2023, with the share of the population living in extreme poverty declining significantly from 27.1 per cent to 2.6 per cent, according to the World Bank’s Poverty and Equity Brief. The report found that the percentage of people living below the lower-middle-income poverty threshold of $4.20 a day, calculated using the 2021 purchasing power parity (PPP), decreased from 57.7 per cent to 16.1 per cent over the period. Describing the achievement as “among the quickest reductions in poverty globally”, the World Bank said India had shown improvement in both financial and non-financial indicators of poverty. According to the report, the decline was driven largely by strong consumption growth, rising employment, particularly among women, and expanded social welfare support, including food assistance programmes. Poverty is expected to continue declining, albeit at a slower pace. The World Bank estimates that the poverty rate at the $4.20-a-day threshold could fall from 14.2 per cent in 2026 to 12.1 per cent by 2028. However, the bank cautioned that these are indicative estimates based on microsimulations and could change as new labour market and macroeconomic data are released. Non-financial poverty has also declined...

“Over the past decade, India has made remarkable progress in reducing poverty across both monetary and non-monetary dimensions, recording one of the fastest poverty declines in the world,” the World Bank said Friday in its ‘Poverty & Equity Brief’ note. Finance Minister Nirmala Sitharaman, in a post on X, said that the government’s “sustained policy efforts are yielding tangible results, strengthening the foundations for inclusive growth and greater economic opportunity”. Along with poverty, consumption inequality has also declined. The Gini index – it ranges from 0 to 100, with a higher number indicative of greater inequality – in 2023 was 23.0, down from 28.8 in 2011-12 and 25.5 in 2022-23. However, the World Bank said the estimates, based on the government’s three most recent household consumption expenditure survey, conducted in 2011-12, 2022-23 and 2023-24, “may also not fully capture the consumption of wealthier households and are likely to understate inequality”. Purchasing Power Parity, or PPP, measures how much of goods and services can be bought in one country in terms of another country’s currency. It is widely used to convert the cost of a basket of items into a common currency while also removing the distortions caused by different levels...

ISLAMABAD: The World Bank on Wednesday dubbed the progress on the Khyber Pakhtunkhwa Hydropower and Renewable Energy Development project “moderately unsatisfactory”, with “substantial risk” to its $727 million loan meant for strengthening provincial institutions and increasing renewable energy generation. In its public disclosure, the Washington-based lending agency rated the progress towards the achievement of project development objectives as “moderately unsatisfactory”. Various segments of the loan were approved in 2020 with a targeted completion date of Nov 30, 2027. However, the World Bank rated the overall implementation progress as “moderately satisfactory” and described the overall risk rating as “substantial”. The rating was based on “moderate” risk in the political and governance and technical design categories, but “substantial” risks emanated from macroeconomic, institutional capacity, fiduciary issues and environmental and social parameters. According to a World Bank document, each dimension is rated on a four-point scale — high, substantial, moderate, or low— depending on the likelihood that the risk will materialise and the expected severity of its impact if it does materialise. The bank said it processed restructuring of the project to align its scope and financing with implementation priorities at the request of the government. The report stated: “Overall, implementation has gained...

In a breakthrough for country’s fight against poverty, the Modi government has made substantial progress in reducing the number of people living in extreme poverty. According to the World Bank's latest report, the percentage of people living in extreme poverty in India has seen a dramatic decline over the last decade, from 27.1 per cent in 2011 to 2.6 per cent in 2023. The report hailed India's improvements across both monetary and non-monetary measures of poverty, terming "it is one of the fastest poverty declines in the world." As per the report, the proportion of people leaving below the lower-middle-income poverty line fell from 57.7 per cent to 16.1 per cent. The poverty is likely to decline further as World Bank projections indicate that poverty rate could further fall from 14.2 per cent in 2026 to 12.1 per cent by 2028. The decline in poverty has been significantly aided by India's free food distribution programs. The government's free and subsidized food transfer initiatives have had a direct impact on reducing poverty, especially narrowing the gap between rural and urban poverty. The report also attributed the decline to strong consumption growth, rising employment particularly among women, various social projects. Non-monetary poverty...