News about World Bank: events, facts and developments on tafs uz.
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The World Bank warned of accelerating growth in energy and food prices due to the war against Iran, conflicts and El Niño. Food prices will rise by 10% in 2026 and energy prices by 32%. The bank has already provided $8.7 billion in emergency assistance to vulnerable countries.
Aziz KarimovUzbekistan has been recognized as one of the world's leaders in poverty reduction, entering the top 5 countries by this indicator. Over nine months of 2026, the poverty rate fell by 2.2 percentage points, and the number of poor families decreased by 184 thousand. The republic accounts for 60% of the region's success in this area. Minister of Employment Marat Zhurayev presented World Bank data, noting that 824 thousand people found permanent jobs and the incomes of 4.14 million citizens were raised.
Javlon TursunovIn its 'Commodity Markets Outlook' report, the World Bank named the European Union's abandonment of Russian fuel imports as the reason for rising gas prices in Europe. The bank warned that the cessation of Russian LNG supplies in January 2027 and pipeline gas in the third quarter of 2027 will intensify competition for LNG and raise prices in Europe and Asia.
Otabek YusupovAt the Russia–Africa forum in Moscow, Vladimir Putin declared the need to reform the IMF and the World Bank to take into account the needs of developing economies and to strengthen Africa's participation in key decision-making. The forum is being held on October 28–29 with the participation of 48 of the continent's 54 countries.
Aziz KarimovOn October 27, the World Bank's Board of Executive Directors approved a $100 million loan for modernizing electricity distribution systems. The program is being implemented jointly with the ADB and the government, with total financing of $371 million.
Otabek YusupovAt a meeting on the socio-economic development of Kashkadarya region, Shavkat Mirziyoyev announced a World Bank-supported project to sow 100,000 hectares of pastures with drought-resistant fodder crops using drones based on Egypt's experience, the creation of livestock complexes, the introduction of new land into agricultural use, and water-saving measures.
Sevara AzamovaThe government of Bangladesh led by Prime Minister Tarique Rahman has requested a new IMF loan of $4.5 billion and $10 billion from the World Bank over three years, seeking tailored lending terms. Negotiations are ongoing; the previous IMF program was agreed in January 2023 under the government of Sheikh Hasina.
Nilufar KarimovaChairman of the board of 'Issiklikta'minoti' Ilkhom Turaev announced that from 2027 the company will begin switching to hybrid heating systems using multiple energy sources under its programs. A long-term strategy for the sector's development until 2032 is being developed with World Bank support, considering electrification, geothermal energy and solar panel scenarios.
Dilnoza RahimovaAt the annual IMF and World Bank meetings in Bangkok, economists and policymakers discussed AI's role in global growth. According to the IMF, AI investment cushioned the shock from rising energy prices caused by the war in the Middle East, but a slowdown in investment could reduce global GDP by 0.4% by 2028.
Dilnoza RahimovaDuring the annual IMF and World Bank meetings in Bangkok, hundreds of protesters, including farmers and human rights organizations, demanded a revision of the funds' policies. Oxfam and activists called spending-cut demands misguided amid inflation, while the IMF insists on rebuilding fiscal buffers, and experts speak of 'two bad options' for developing countries.
Dilnoza RahimovaIn Bangkok, protesters from across Thailand took part in a demonstration against the IMF and World Bank, accusing the institutions of making decisions without taking local communities' views into account. Police blocked the march near the meeting venue, and brief clashes occurred during an attempt to hang a banner on a pedestrian bridge.
Aziz KarimovAccording to TASS calculations based on data from Ukraine's Finance Ministry, payments to the IMF and the World Bank will amount to about $128.86 billion — until 2057 in dollars and until 2061 in euros. As of August 31, 2026, the state debt reached $215.55 billion, and the 2027 budget deficit is estimated at about $96 billion.
Nilufar KarimovaUzbekistan and the ADB signed a $200 million loan agreement to modernize electricity distribution networks: upgrading 60 substations, digital management systems, reducing losses and emissions, and integrating at least 3.3 GW of renewable energy. The project became the ADB's first energy project under the mutual reliance mechanism with the World Bank. Later in October, the World Bank will consider additional financing of $100 million.
Dilnoza Rahimova
