Major transformation of commodity markets underway amid multiple crisis – report

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Global commodity markets are being reshaped in lasting ways as a result of COVID-19, the war in Ukraine, and the impacts of climate change—a transformation that is likely to have profound implications for developing economies over the coming decades, a new World Bank study has found. The study, Commodity Markets: Evolution, Challenges, and Policies, offers the first […]

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Food and energy price shocks from Ukraine war could last for years, says World Bank

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The war in Ukraine has dealt a major shock to commodity markets, altering global patterns of trade, production, and consumption in ways that will keep prices at historically high levels through the end of 2024, according to the World Bank’s latest Commodity Markets Outlook report. The increase in energy prices over the past two years has been […]

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Multilateral institutions call for urgent coordinated action on food security

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The Heads of the World Bank Group (WBG), International Monetary Fund (IMF), United Nations World Food Program (WFP), and World Trade Organization (WTO) have called for urgent action on food security. “The world is shaken by compounding crises. The fallout of the war in Ukraine is adding to the ongoing COVID-19 pandemic that now enters […]

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APART launches competitive fund Xamahar to boost Assam’s agri-business sector

To support and strengthen the financing ecosystem or mechanisms in the agricultural domain of the state, Assam Agribusiness and Rural Transformation Project (APART) has established the first of its kind initiative, the Assam AgriFin “Xamahar”. This fund has been conceptualised by APART, a World Bank-financed project of the Assam government. Xamahar is a competitive funding […]

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China’s recovery has broadened, economic growth seen reaching 8.5% in 2021 – World Bank

China’s recovery has broadened as economic activity has continued to normalise, the World Bank said, adding that its economic growth is projected to reach 8.5 percent this year before slowing to 5.4 percent in 2022, as low base effects dissipate and the economy returns to trend growth. Improved consumer and business confidence and better labor market […]

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Pandemic has worsened food security: World Bank

Hunger has been rising since 2014, due to conflict, economic shocks, and weather extremes. According to the FAO, 688 million people were hungry in 2019, compared to 624 million in 2014. The COVID-19 pandemic has worsened food insecurity by disrupting supply chains. Together with currency depreciation and other factors, this in turn has driven up […]

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World Bank pegs India’s 2021/22 economic growth at 8.3%

India’s growth for FY 2021/22, which began in April 2021, is forecast at 8.3%, supported by plans for higher spending on infrastructure, rural development, and health, and a stronger-than-expected recovery in services, the World Bank said. “Better growth prospects since January, however, masks significant damage to economic activity from COVID19. The economy is expected to […]

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Global economy seen growing at 5.6% in 2021 as many developing countries struggle with pandemic’s lasting effects

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The global economy is expected to expand 5.6% in 2021, the fastest post-recession pace in 80 years, largely on strong rebounds from a few major economies, but many emerging market and developing economies are still struggling with the COVID-19 pandemic and its aftermath, the World Bank said in its latest Global Economic Prospects report Despite […]

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