World
World Bank urges aid for economies in conflict as US pushes cuts
The goal of ending extreme poverty around the globe remains elusive partly due to compounding challenges faced by economies in fragile and conflict-affected situations (FCS) including food insecurity and weak government capacity, a report from the World Bank showed.
The report released on Friday by the Washington-based lender calls on a scaling up of international support, debt relief and technical assistance at a time when the United States, the world’s largest aid donor of the past decades, steps back, Reuters reported.
Extreme poverty is rising fast in economies hit by conflict and instability, according to the World Bank’s first comprehensive report on FCS economies since the COVID-19 pandemic.
Over 420 million people in conflict-ridden economies survive on less than $3 a day, more than the rest of the world combined, even as they are home to under 15% of the global population. The number is projected to rise to 435 million, or nearly 60% of the world’s extreme poor, by 2030.
“FCS economies have become the epicenter of global poverty and food insecurity, a situation increasingly shaped by the frequency and intensity of conflict,” the World Bank report said.
Economic output in FCS nations could stall or weaken further as conflict and violence have surged and intensified over the past years. The most high-intensity conflicts can shrink per capita GDP by some 20% after five years, according to the report.
Conflict and war economies are home to 1 billion people and their populations average only six years of schooling, with life expectancy seven years shorter than in other developing countries. Since 2020, the per capita GDP in these economies has shrunk by an average of 1.8% per year, while it has expanded by 2.9% in other developing economies, the report said.
“Progress on poverty reduction has stalled since the mid-2010s, reflecting the compounded effects of intensifying conflict, economic fragility, and subdued growth,” it said.
Targeted domestic reforms and coordinated, long-term global engagement are needed to lift those populations out of poverty, according to the World Bank.
Measures need to focus on addressing root causes of conflict such as injustice and exclusion, as well as expanding access to education and healthcare, and improving infrastructure. Investment in tourism and agriculture could help create jobs for a growing working-age population.
“With sound policies and sustained global engagement, FCS economies can chart a better path toward development,” said the World Bank.
World
Norway to give over $9 billion to Ukraine in 2027
Norwegian Prime Minister Jonas Gahr Stoere and leaders from across the Nordic and Baltic region are visiting Kyiv on Sunday in a show of support for Ukraine in the war with Russia.
Norway plans to give another 85 billion Norwegian crowns ($9.2 billion) in financial support to Ukraine in the 2027 fiscal year, in line with the amount given in 2026, the Nordic country’s government said in a statement on Sunday.
Norwegian Prime Minister Jonas Gahr Stoere and leaders from across the Nordic and Baltic region are visiting Kyiv on Sunday in a show of support for Ukraine in the war with Russia.
Norway plans to give another 85 billion Norwegian crowns ($9.2 billion) in financial support to Ukraine in the 2027 fiscal year, in line with the amount given in 2026, the Nordic country’s government said in a statement on Sunday.
Norwegian Prime Minister Jonas Gahr Stoere and leaders from across the Nordic and Baltic region are visiting Kyiv on Sunday in a show of support for Ukraine in the war with Russia.
Russia and Ukraine are both ramping up drone campaigns aiming to cripple each other’s economic infrastructure, often striking targets far beyond the frontlines of the war started by Moscow, as fighting on the battlefield grinds toward the 4-1/2-year mark.
World
Israel strikes southern Syria; Damascus condemns attack
Israeli troops continue to operate in southern Syria, and Israel occupies territory in southwest Syria it seized after the toppling of Bashar al-Assad in December 2024.
Israel said it targeted a “terrorist” in southern Syria on Saturday in what Syria’s foreign ministry said was a drone strike on a civilian vehicle on the outskirts of Damascus in a “blatant” violation of its territory.
The Syrian foreign ministry said the drone had hit a civilian car on a road near Beit Jinn village in the countryside west of the capital, which caused injuries amongst civilians.
Syrian state TV reported one person was injured.
The Israeli military said in a statement that it fired in southern Syria toward what it described as a terrorist, whose activity posed an immediate threat to its soldiers. It did not say how it fired.
Tensions between Israel and Syria flared up this week after Israel bombed an airbase in the northwest on Tuesday, an escalation U.S. special envoy to Syria, Tom Barrack, called “unnecessary.”
Syria’s foreign ministry said the strike was part of a pattern of repeated Israeli attacks on Syrian territory, and was a “blatant violation” of its sovereignty. It held Israel accountable for the consequences of such actions.
Israeli troops continue to operate in southern Syria, and Israel occupies territory in southwest Syria it seized after the toppling of Bashar al-Assad in December 2024.
World
Trump says Iran ‘Not Ready’ for the right deal as war nears six-month mark
The continuing US-Israeli strikes on Iran, along with Israeli attacks on Lebanon, have reportedly killed thousands of people and displaced millions across the region.
US President Donald Trump has said he does not believe Iran is ready to make what he described as the “right deal,” as the war between Tehran and Washington approaches its six-month mark, Reuters reported.
Speaking to reporters on Friday, Trump said the United States was continuing to assess developments in the conflict when asked whether Washington’s military options against Iran had become limited.
“It just means that we’re seeing what happens,” Trump said.
Trump also claimed that the United States had “total control” over the region surrounding the Strait of Hormuz, a strategically vital waterway that previously carried around one-fifth of global oil and liquefied natural gas supplies before the US and Israel launched attacks on Iran on February 28.
“They would love to make a deal, but they’re not ready to make the right deal, in my opinion,” Trump said.
The remarks come after Washington pledged this week to impose what it described as the toughest financial penalties in history against Iran, with the stated aim of increasing pressure on the country’s leadership, read the report.
US Treasury Secretary Scott Bessent said further details of the planned sanctions would be announced on Monday, following Trump’s warning that any country providing “any type of lifeline” to Iran could face serious economic consequences.
Meanwhile, disruptions to energy shipments through the Strait of Hormuz have continued as Iran retains missile and drone capabilities that have affected oil tanker traffic in the waterway.
Iran responded to the initial attacks on February 28 with strikes on Israel and Gulf states hosting US military bases.
The continuing US-Israeli strikes on Iran, along with Israeli attacks on Lebanon, have reportedly killed thousands of people and displaced millions across the region.
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