Ivanka Trump to work on World Bank president search
WASHINGTON (AP) — The White House says Ivanka Trump will take part in the nomination process for a new head of the World Bank.
The senior adviser was asked to participate by Treasury Secretary Steven Mnuchin because she has worked with World Bank leaders on a variety of projects. The White House said she is not a contender for the post.
Jim Yong Kim, the current president of the World Bank, announced last week that he is resigning.
World Bank President Jim Yong Kim announces his departure
WASHINGTON (AP) — Jim Yong Kim, the president of the World Bank, announced Monday he is resigning at the end of January.
Kim's unexpected departure three years before his term was set to expire is likely to set off a fierce battle between the Trump administration and other countries who have complained about the influence the United States exerts over the World Bank.
ADDIS ABABA, Ethiopia (AP) — Ethiopia's fast-moving new prime minister has met at the White House with U.S. Vice President Mike Pence, who congratulated him on "historic reform efforts" that include making peace with longtime rival Eritrea.
Prime Minister Abiy Ahmed also met with the chiefs of the World Bank and International Monetary Fund as he pursues a dramatic opening-up of state-owned enterprises in one of Africa's fastest-growing economies.
WASHINGTON (AP) — The Latest on the global finance meetings in Washington (all times local):
The World Bank's policy committee has approved a $13 billion increase in the bank's lending capacity.
The proposal was approved late Saturday by the World Bank's Development Committee, which sets policies for the 189-nation lending agency. The increase in lending capacity was tied to a package of lending reforms that had been sought by the United States.
HAMBURG, Germany (AP) — President Donald Trump said Saturday the U.S. would contribute $50 million to a new World Bank fund conceived by his daughter that aims to help women entrepreneurs access capital and other support.
Ivanka Trump joined World Bank Group President Jim Yong Kim on the sidelines of the Group of 20 world leaders' summit in Hamburg, Germany, to launch the Women Entrepreneurs Finance Initiative.
Ivanka Trump, World Bank discuss women entrepreneur fund
WASHINGTON (AP) — Ivanka Trump has been involved in discussions with the World Bank about establishing a funding operation that would support female entrepreneurs, bank and administration officials said Wednesday.
Leaders of IMF and World Bank defend globalization
WASHINGTON (AP) — World finance leaders on Thursday defended globalization against an assault from President Donald Trump and European populists. They argued that blocking free trade would hobble economic growth instead of saving jobs from foreign competition.
World Bank President Jim Yong Kim told journalists that freer trade and more openness were "critical for the future of the world."
Damon, Affleck hope ‘Bending the Arc’ inspires millennials
PARK CITY, Utah (AP) — The story of the global nonprofit Partners in Health is the story of a few young idealists who couldn't have started any smaller — trying to delivery primary health care in rural Haiti 30 years ago. With no structures, little money, undaunted spirits and a belief that all lives are worth saving, the tireless work of Paul Farmer, Jim Yong Kim and Ophelia Dahl revolutionized the global health movement. Partners in Health now employs 18,000 people and impacts rural communities around the world. Their story is recounted in the documentary "Bending the Arc," from directors Kief Davidson and Pedro Kos, which premiered this week at the Sundance Film Festival.
World Bank forecasting brighter prospects for 2017
WASHINGTON (AP) — The World Bank is forecasting the global economy will accelerate slightly in 2017 after turning in the worst performance last year since the 2008 financial crisis.
The 189-nation lending agency said Tuesday that the global growth should expand at a 2.7 percent annual rate this year. That is down from the bank's June forecast for 2.8 percent growth this year, but it's better than last year's 2.3 percent growth.
Obama administration taps Kim for second term at World Bank
WASHINGTON (AP) — The Obama administration is nominating current World Bank President Jim Yong Kim for a second term leading the 189-nation international lending organization.
In making the announcement Thursday, Treasury Secretary Jacob Lew praised Kim for using his first term at the World Bank to effectively address "today's most pressing global challenges in innovative ways, from ending extreme poverty and tackling inequality to combating climate change."