World Bank

Is this the most beautiful way to burn trash?

Historically, these industrial monoliths have been functional eyesores -- often inciting resentment and "not in my backyard" protests from local residents.

But as cities generate more trash -- the World Bank predicts global rubbish disposal will triple to 4 billion tons a year by 2100 -- the need to change our attitudes to waste is becoming more urgent.

Villagers welcome coffee rehab work in SHP

 A councillor from Kaupena, Robert Morombu, said it was a wise decision by the government to improve the “green gold” with loan financing from World Bank (International Development Association) and International Fund for Agricultural Development (IFAD).

“Coffee is our lifeline. Oil and gas will run out but this green gold (coffee) is here to stay until the second coming of Jesus.

“We thank World Bank, IFAD and also the PNG Government for coming down to the village level to save our coffee gardens.”

Villagers praise World Bank and partners for coffee rehab work

A councillor from Kaupena, Robert Morombu, said it was a wise decision by the government to improve the “green gold” with loan financing from World Bank (International Development Association) and International Fund for Agricultural Development (IFAD).

“Coffee is our lifeline. Oil and gas will run out but this green gold (coffee) is here to stay until the second coming of Jesus.

“We thank World Bank, IFAD and also the PNG Government for coming down to the village level to save our coffee gardens.”

World Bank creates pandemic insurance plan

World Bank president Jim Yong Kim said the new Pandemic Emergency Financing Facility (PEF) will accelerate global and national responses to disease outbreaks that threaten large populations and fragile economies.

He said the PEF, a combination of catastrophe insurance and bonds, is a direct reaction to the sluggish donor response to the outbreak of Ebola, which killed thousands and shut down economic activity for months.

"The recent Ebola crisis in West Africa was a tragedy that we were simply not prepared for. It was a wake-up call to the entire world," Dr Kim said.

World Bank says Pacific can earn much more from tuna

It says this could create up to 15,000 jobs by 2040.

Called 'The Pacific Possible: Tuna Fisheries report' it has been released at a meeting of Forum Fisheries committee in Port Vila.

Papua New Guinea seeks World Bank loan after dollar shortage

The move to borrow K720 million (US$232 million ) follows the country’s failure to raise K2400bn (US$775 million) on bond markets late last year and a slowdown in the South Pacific nation’s economy, which until recently was the best-performing in the region thanks to the construction and start-up of a K40bn (US$14 billion) gas plant operated by ExxonMobil. 

Report finds severe lack of access to water & sanitation for thousands in the Pacific

Released to coincide with World Toilet Day 2015, Unsettled: water and sanitation in urban settlement communities of the Pacific, highlights the reasons why thousands of families in Melanesia – Solomon Islands, Fiji, Vanuatu, and Papua New Guinea (PNG) – are unable to access basic water and sewage services.

The report makes a number of recommendations on how governments, utility providers, charities and donors can work together to improve access and affordability.

PNG Loop's 5 @ 5

Food supplies run low in Kiunga

http://www.looppng.com/content/food-supplies-run-low-kiunga

Food supplies in Kiunga in the Western Province are running low as the drought continues to hit hard.

World Bank warns of ballooning budget deficit

http://www.looppng.com/content/world-bank-warns-ballooning-budget-deficit

Extreme poverty to fall below 10 per cent, advancing towards UN goal by 2030 – World Bank

“This is the best story in the world today – these projections show us that we are the first generation in human history that can end extreme poverty,” said Jim Yong Kim, World Bank Group President.

The World Bank explained that it uses an updated international poverty line of US$1.90 a day, which incorporates new information on differences in the cost of living across countries and preserves the real purchasing power of the previous line of US$1.25 a day in 2005 prices in the world’s poorest countries.

IMF downgrades forecast for world, emerging market economies

In a report Tuesday in advance of the IMF-World Bank annual meetings here this week, the fund says the world economy will grow 3.1 percent this year, down from a July forecast of 3.3 percent and from 3.4 percent growth last year.

"The risks seem more tilted to the downside than they did just a few months ago," IMF chief economist Maurice Obstfeld, told reporters.

Still, Obstfeld downplayed the risk of a global recession.