World Bank
International financial institution
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March 20 2025 | Deputy Prime Minister Serik Zhumangarin discussed Kazakhstan's partnership with the World Bank, highlighting structural reforms, sustainable growth projections of 5.6% GDP increase, and key initiatives including Kambarata HPP-1, road modernization, innovation, and Aral Sea restoration projects. |
2024 | GDP growth is projected to slow to 1.7 percent due to the delayed impacts of monetary policy tightening and reduced carry-over effects from the previous year. |
2024 | 86 countries and territories were classified as high-income economies by the World Bank, representing a comprehensive global economic assessment. |
May 2024 | The Fund for Responding to Loss and Damage held its first board meeting in Abu Dhabi, discussing critical issues like fund access, financial instruments, and establishing the fund as a World Bank-hosted financial intermediary fund. |
2023 | Bulgaria and Russia (after previous classifications) entered the high-income economy list |
2023 | Brazil experienced a 2.9 percent expansion in real GDP, driven by strong private consumption, robust labor market, and fiscal support for social transfers. |
2023 | Ajay Banga became the new president, known for supporting climate action and succeeding David Malpass. |
2023 | Ajay Banga was appointed as the new World Bank president, supported by US President Joe Biden partly due to his stance on climate action, succeeding David Malpass who had faced criticism for challenging climate science. |
September 2023 | Revelations emerged that the World Bank had provided approximately $3.7 billion in trade finance to fossil fuel projects in 2022, contradicting its green pledges. |
August 9 2023 | The World Bank suspended new loans to Uganda in response to the country's anti-homosexuality law, joining the United States in imposing sanctions against Uganda. |
July 1 2023 | World Bank sets new high-income economy classification threshold at $14,005 GNI per capita, effective July 1, 2024. |
June 2 2023 | Ajay Banga began his term as World Bank president, becoming the first Indian American to lead the bank. |
May 2023 | Uganda enacted an anti-homosexuality act that was later deemed to contradict the World Bank's core human rights values. |
2022 | GNI per capita increases to $13,845, further solidifying the high-income economy status. |
2022 | GNI per capita increased to $13,845, demonstrating continued economic resilience. |
2022 | American Samoa re-enters the high-income economy classification after a previous period of classification |
2022 | Guyana first entered the high-income economy classification |
December 22 2022 | World Bank approved the Brazil Climate Finance Project with a $500 million commitment. The project aims to mitigate climate change by providing carbon credits to the private sector through Banco do Brasil, with an expected total cost of 1.9 billion dollars and scheduled to end on April 30, 2028. |
September 2022 | Established the global Pandemic Fund, a collaborative initiative aimed at funding pandemic prevention, preparedness, and response for low- and middle-income countries. |
June 2022 | World Bank reported $10.1 billion allocated to supply vaccines to 78 countries. |
2021 | Significant economic recovery with GNI per capita reaching $13,205. |
2021 | The World Bank offered support to Kazakhstan in its mission for decarbonization and achieving carbon neutrality. |
2021 | An independent inquiry by WilmerHale found that World Bank leaders, including Kristalina Georgieva and Jim Yong Kim, pressured staff to alter data to inflate rankings for China, Saudi Arabia, Azerbaijan, and the UAE. |
2020 | Before the COVID-19 pandemic, Brazil's economy showed signs of stagnation, with GDP decreasing by 0.3% in the first quarter. |
2020 | GNI per capita rises to $12,696, continuing the trend of economic growth. |
2020 | GNI per capita rose to $12,696, despite global economic challenges from the COVID-19 pandemic. |
2020 | The World Bank employed 12,300 full-time staff and operated in 145 countries worldwide. |
2020 | The World Bank committed USD 77.1 billion in total funding, operating across 145 countries and supporting projects ranging from education and healthcare to infrastructure and environmental protection. |
2020 | Committed USD 77.1 billion in total financial support, operated in 145 countries, and maintained a staff of 12,300 full-time employees. |
October 29 2020 | The World Bank approved a $1 billion loan to Brazil to help mitigate the negative economic impacts of the COVID-19 pandemic on poor Brazilian families. |
September 2020 | World Bank announced a $12 billion plan to supply vaccines to low and middle-income countries during the COVID-19 pandemic. |
September 20 2020 | Brazil reached 4.5 million recorded COVID-19 cases and over 136,000 deaths, positioning it as the country with the third-highest number of coronavirus cases globally at that time. |
January 2020 | COVID-19 pandemic met all requirements for the Pandemic Emergency Financing Facility (PEF) funding, though money was prevented from being released due to a 12-week delay clause. |
2019 | Romania first classified as a high-income economy. |
2019 | GNI per capita increased to $12,536, indicating continued economic growth. |
2019 | Mauritius classified as a high-income economy. |
2019 | The Brazilian economy grew by only 1.1%, hindered by external factors like the Argentine crisis and the Brumadinho disaster, with slow legislative reforms. |
November 2019 | EU finance ministers and civil sector groups like Extinction Rebellion called for an end to World Bank funding of fossil fuels. |
April 9 2019 | David Malpass became president of the World Bank, replacing Kristalina Georgieva who served as interim president. |
February 2019 | David Malpass is appointed by President Trump as the president of the World Bank Group. |
February 1 2019 | Jim Yong Kim resigned from his position as World Bank president. |
2018 | World Bank recorded a Gross National Income (GNI) per capita of $12,376, marking a benchmark for high-income economy classification. |
2018 | Brazil's GDP grew by 1.3%, continuing the trend of minimal economic expansion and loss of consumer trust. |
October 1 2018 | The World Bank began implementing its new Environmental and Social Framework, marking a significant update to its operational guidelines and safeguard policies. |
July 2018 | Robert Malpass, son of David Malpass, is hired as an analyst at the International Finance Corporation, a World Bank Group branch. |
April 2018 | US Treasury backs a $13 billion capital infusion for the World Bank, with David Malpass as the influential undersecretrary. |
2017 | Argentina loses its high-income economy status for a second time. |
2017 | Argentina again classified as a high-income economy. |
2017 | Brazil experienced a small GDP growth of 1.1%, indicating economic challenges and slow recovery. |
2017 | Jim Yong Kim was reelected to a second five-year term as World Bank president. |
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