World Bank

Turkey earthquake: World Bank estimated making homes safe would cost $465bn

The World Bank estimated in 2021 that retrofitting or rebuilding millions of residential buildings in Turkey to withstand an earthquake would cost almost half a trillion dollars. In December 2021, the Washington-based bank, which provides loans and grants to governments, said it was providing the Turkish government with “technical assistance” to help it meet[…]

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BRICS agrees to own development bank

The leaders of five emerging market powers said at a summit Tuesday that they agreed to create a development bank worth $100 billion that will have its headquarters in China. The first president of the New Development Bank will be from India and the position will rotate every five years[…]

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