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Mozambique Gets US$110 Million from World Bank to Improve Business Environment, Public Financial Management, and Social Protection
WASHINGTON — The World Bank Board of Executive Directors approved today US$110 million to support the Government of Mozambique’s State Budget and its poverty reduction plan (PARP). This International Development Association (IDA) funding is provided under the tenth Poverty Reduction Support
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New World Bank Initiative to Help End Wasteful Energy Subsidies
A new World Bank-ESMAP facility helps countries develop and implement effective, sustainable energy subsidy reform programs that protect the poor from the impact of higher energy prices. Such subsidies primarily benefit higher-income earners rather than the poor, but if subsidies
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How Thailand’s Solar Power Visionary Built an Industry with a Boost from IFC
One of the winners of this year’s UN Momentum for Change awards has been transforming Thailand’s renewable energy capacity with utility-scale solar farms. To get finance flowing for what was then a new industry in the country, she worked with
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Clean Undustrialisation Critical for Africa to ‘Leapfrog’ Outdated Technologies
Africa needs a green, clean industrialization that leapfrogs outdated, polluting processes and platforms and benefits from new technologies, United Nations Secretary-General Ban Ki-moon said today as the world body marked Africa Industrialization Day. In a statement on the Day, Mr. Ban
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WB, Vietnam Sign US$ 500 Million Loan to Improve Energy Efficiency
Hanoi, November, 2014 – The State Bank of Vietnam and the World Bank today signed a US$ 500 million loan for a US$ 731.25 million operation in support of Vietnam’s energy sector. The investment will fund construction of over 1,000
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Working Together to Boost Innovation in Central Europe and the Baltics
Innovation is a critical driver of long-term economic growth and the right public policies are crucial to boost innovation. Through lending projects and advisory services, the Bank is assisting new European Union member states and candidate countries to unlock their
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Executives: Smart Carbon Pricing Policies Can Drive Investment in a Cleaner Future
The IPCC’s Fifth Assessment Synthesis Report warns of the need to reduce greenhouse gas emissions by 40 to 70 percent by 2050, on pace for carbon neutrality by the end of the century. Businesses know how to cut emissions and
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University of Chicago Booth School of Business: Questioning the Economic Effects of a Booming Real Estate Market
Strong house price growth fuels economic activity during expansions, and the ensuing slowdown in housing often precipitates severe crashes. Almost every severe economic downturn in advanced economies over the past 85 years was preceded by a real estate boom: Among
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Africa Awakening: A Continent on the Rise
The time for Africa is now. The continent is rising to unexpected heights as wars have ended and humanitarian crises subsided. Afro-pessimism – the deeply-rooted notion that Africa was essentially without hope – has suddenly been replaced with almost boundless
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UNCDF: Enabling Transformation – Investing in the Local Needs of Women
In 1990, in the first Human Development Report of the United Nations Development Programme (UNDP), Pakistani economist Mahbub Ul Haq wrote, “The real wealth of a nation is its people. And the purpose of development is to create an enabling
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