The global economy is facing heightened risks and financial volatility, with global growth likely to have peaked. Geopolitical factors, trade disputes, financial market volatility and non-economic factors risk further impeding growth, stability and development and worsening poverty, inequality and vulnerabilities. Given the complex and ambitious set of transformations needed, coherence across policy areas is critical, and well-run national development banks can help countries develop financing options for Sustainable Development Goal-related investments.
Economic Development
An essential part of the work on development and the SDGs consists of ensuring public access to information and the protection of fundamental freedoms. The role of the United Nations has been to assist the various national information media, by supplying accurate information from which these media may draw both substance and inspiration for their work. World Development Information Day (24 October) aims to draw the attention of the world to development problems and the need to strengthen international cooperation to solve them.
The global health crisis doubled the wealth of the 10 richest men in the world while sending upwards of 120 million people into extreme poverty. This year’s shows how inequalities and crises reinforce and compound each other, leading to extreme disparity, vulnerability and unsustainability. It argues that this is not the result of a broken system but one in which inequality and injustice are built in by design. The social contract has broken down to the great detriment of people and planet. Join us for the on 21 October in Geneva.
Learn about the key findings from the new "Uncertain Times, Unsettled Lives: Shaping our Future in a Transforming World" through this short animated explainer video.
One of the great lessons of our species is that we can accomplish a lot with very little if we work together. Development is about change; charting new paths forward into the unknown; and transforming our world, according to the 2030 Agenda for Sustainable Development.
Flux is normal. Throughout history, humans have struggled with plagues, war, and political upheaval. Yet, our present uncertain times are different in unprecedented ways. If we don’t feel that our lives are secure, it is because they aren’t. The ’s latest indicates that we are navigating uncharted waters. But . The report suggests three ways to help navigate—and even thrive—in the new uncertainty complex.
The world is facing a series of unprecedented overlapping crises: conflicts, the COVID-19 pandemic and climate change are impacting the poorest and most vulnerable. Decades of development progress are at risk. Learn how the is mobilizing $170 billion for crises response.
announces the winners of the 13th Equator Prize, recognizing ten Indigenous peoples and local communities from nine countries for portraying their own local development goals.
The partial shutoff of Russian natural gas deliveries is already affecting European growth, and a full shutdown could be substantially more severe, according to .
For the past thirty years, the Small Grants Programme (SGP) has been providing financial and technical support to civil society and community-based organizations on innovative community-driven initiatives that address global environmental issues – such as biodiversity loss, climate change mitigation and adaptation, land degradation, international waters, and chemicals and waste management – while improving livelihoods. SGP was sparked by the idea that the active participation of local communities in dealing with critical environmental problems holds the key to promoting effective stewardship of the environment and achieving sustainable development. Mariko Wallen harvests seaweed on her and Louis Godfrey's farm in Placencia, Belize.
indicates FDI rebounded to nearly $1.6 trillion last year, but warns this course is unlikely to be sustained in 2022.
Just over two years after COVID-19 caused the deepest global recession since World War II, the world economy is again in danger. This time it is facing high inflation and slow growth. Even if a global recession is averted, the pain of stagflation could persist for years- unless major supply increases are set in motion. The ’s presents the risk of stagflation, with potentially harmful consequences for middle- and low-income economies alike. A forceful, wide-ranging policy response is required to boost growth.
helps strengthen the cultural and creative industries and promotes South-South cooperation to support developing countries to: design, adapt and/or implement regulatory frameworks for the Cultural and Creative Industries (CCIs); strengthen skills and; and create peer-to-peer mechanisms.
Tensions over trade, technology standards, and security have been growing for many years, undermining growth and trust in the current global economic system. Uncertainty around trade policies reduced global gross domestic product in 2019 by nearly 1 percent, according to . And since the war in Ukraine started, our monitoring indicates that around 30 countries have restricted trade in food, energy, and other key commodities. To restore trust that the rules-based global system can work well, we must weave our economic fabric in new and better ways.
The is working with countries on the preparation of $12 billion of new projects for the next 15 months to respond to the food security crisis. These projects are expected to support agriculture, social protection to cushion the effects of higher food prices, and water and irrigation projects. In addition, the World Bank’s existing portfolio includes undisbursed balances of $18.7 billion in projects with direct links to food and nutrition security issues, covering agriculture and natural resources, nutrition, social protection, and other sectors.
A mother of three children, Laiku Lama worked as a farmer in the mountainous district of Humla, one of the most isolated and underdeveloped regions in Nepal. In 2018, she left her family to board a plane for the first time in her life. After six months studying in India, she literally enlightened her village upon her return: as a newly certified solar technician, she installed solar home lighting in 220 houses, benefitting over 2,100 people. Laiku was one of three Lama women who became so-called Solar Mamas, thanks to a South-South cooperation initiative.