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World Bank Approves Financing for Nepal Grid Solar and Energy Efficiency Project
The World Bank today approved a US$130 million credit for the Nepal Grid Solar and Energy Efficiency Project to help address Nepal’s energy shortages that are a major constraint to economic growth and overcoming poverty. The project intends to increase
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World Bank Supports Greater Resilience to Climate Related Hazards in Mozambique
The World Bank Board of Executive Directors approved today an International Development Association (IDA)* financing in the amount of US$50 million to support climate change related reforms agreed upon between the Government of Mozambique (GoM) and the World Bank under
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World Bank: Transforming the Economy to Achieve Zero Net Emissions
To stabilize warming at less than 2 degrees Celsius, as the international community agreed in 2009, the world will have to cut greenhouse gas emissions to net zero before 2100. Economic policy will be the key to mobilizing that global
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UN-Backed Project to Help Colombian Farmers Move Away from Illicit Crops Towards Fair Trade Chocolate
A sweet new partnership between the United Nations, the Colombian and Austrian Governments and a renowned chocolate manufacturer is slated to bring free-trade practices and a critical source of income to Colombian farmers who have long relied on revenues from
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World Bank Commits over $1 Billion to Bangladesh
WASHINGTON – The World Bank today approved approximately $1.1 billion for three projects in Bangladesh that would benefit almost 36 million people by improving the quality of primary education, building coastal communities’ resilience to natural disaster, and increasing the nutrition and
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World Bank: International Food Prices Hit Four-Year Low
New World Bank Group tool focuses on preparedness for potential future crises. International prices of food decreased by 6 percent between April and August 2014, reaching a four-year low, according to the latest edition of Food Price Watch. This sharp decrease
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UN Reports Potential for Gradual Return to Global Growth, Foresees Risks, Uncertainties
Global economic growth is forecast to continue increasing over the next two years, the United Nations reported today, despite legacies from the financial crisis continuing to weigh on growth, and the emergence of new challenges, including geopolitical conflicts such as
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Trade Balance of Developing and Developed Countries Continues to Converge, UNCTAD Statistics Show
UNCTAD Handbook of Statistics 2014 shows that developing and transition economies run large trade surpluses for merchandise and services trade. Geneva, 9 December 2014 – Developing economies ran a combined merchandise and services trade surplus for 2013 of $177.6 billion,
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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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