The World Bank had invested more than $12 billion in fossil fuels since 2015, according to a report by Urgewald, an environmental NGO based in Germany.
The African country wants to divert resources to take care of its people during the pandemic.
In July 2019, the bank had slapped the whopping fine against Pakistan for denying the mining lease to an Australian company, followed by Pakistan's appeal in November 2019 seeking its annulment.
World Bank President David Malpass says poor countries will not be in a better position to deal with the debt payments even if advanced economies suspend them.
A war is the last thing President Abdel Fattah el Sisi wants at a time when Egyptians are reeling from poverty and economic suffering.
The Sultanate is reeling from the double whammy of low oil prices and Covid-19. But with intra-GCC tensions high, a consensus on aid won’t come easily.
Protests erupted in Suweida over deteriorating living standards, as Assad struggles to keep the economy afloat.
Business newspaper El Economista said the Mexican government asked the World Bank for the loan on May 19 to deal with the impact of the pandemic.
World Bank President David Malpass said on Tuesday the global economy is facing "staggeringly large" losses and the recovery effort is hampered by a shortage of resources to make up for the damage caused by the coronavirus pandemic.
Iraq’s leadership has to deal with Covid-19, the Islamic Republic, the Daesh, and the United States.
Iranian lawmaker Heshmatollah Falahatpisheh says Syria should pay Iran for what it has spent on the country’s war.
Millions of migrants who rely on Europe's informal economy have hit rock bottom, creating a domino effect in North Africa and the Middle East.
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