Development News Magazine

Global Development Goals at Risk as Conflict and Instability Deepen Across 39 Economies A new World Bank report released today paints a sobering picture: extreme poverty is rising fastest in the very places least equipped to fight it—countries crippled by conflict and instability. With development setbacks piling up and violence reaching its highest levels in 25 years, these fragile economies now account for the majority of the world’s extreme poor. The report, the Bank’s first comprehensive post-COVID-19 assessment of conflict-affected and unstable economies, finds that these 39 countries are rapidly diverging from global development trends. Per capita GDP is shrinking, employment remains stagnant, food insecurity is worsening, and education outcomes are collapsing. “More than 70% of those suffering from conflict and instability are Africans. Untreated, these conditions become chronic,” said Indermit Gill, Chief Economist of the World Bank Group. “Half of the countries facing conflict...

In a historic move poised to redefine global electrification strategies, the World Bank Group and the International Atomic Energy Agency (IAEA) today formalized a strategic partnership to support the responsible deployment of nuclear energy in developing countries. The agreement, signed in Paris by World Bank Group President Ajay Banga and IAEA Director General Rafael Mariano Grossi, marks the World Bank Group’s first concrete step in decades toward reengaging with nuclear energy—a powerful source of low-carbon, reliable electricity. It also underscores the rising global recognition of nuclear power’s role in meeting future energy demands while supporting climate goals. “Jobs need electricity. So do factories, hospitals, schools, and water systems,” said Ajay Banga. “As demand surges—with AI and development alike—we must help countries deliver reliable, affordable power. That’s why we’re embracing nuclear energy as part of the solution—and reembracing it as part of the mix the World Ba...