WB to Stop Financing Oil, Gas projects

The World Bank will stop financing oil and gas exploration and extraction from 2019, it announced Tuesday at a climate summit seeking to boost the global economy’s shift to clean energy. “The World Bank Group will no longer finance upstream oil and gas,...

Wealth Inequality a Threat to East Asia, Pacific: World Bank

A rapidly growing gap between rich and poor in many developing East Asian nations is threatening the foundation for the region’s economic success, the World Bank said. “The whole basis for East Asia’s success was this sense that everything was fair...