Article originally posted on the World Bank website.
STORY HIGHLIGHTS
This article was originally published on the World Bank website.
Jamshid and Basit are happily enjoying themselves around in and around the canal. “Now that the canal is paved, we can easily fill our buckets and carry the water home.”
Article originally published on the IFC website.
Seven hundred million people live without electricity in Asia. Several countries, including Lao People’s Democratic Republic, Myanmar, Nepal, and Pakistan, are tapping into their hydropower potentials to generate electricity for domestic consumption and exports, which will be a big boost to their economic development. To ensure the sustainability of such developments, IFC is working with both the public and private sectors to raise standards and enhance collaboration between the two sides.
“Hydropower demands are growing too fast to limit your scope to one country,” said Kate Lazarus, team leader for IFC’s Mekong sustainable hydropower program. “We’re approaching sustainability from an Asia-wide perspective.” Continue reading
Article originally published on the World Bank website.
The Bulgarian Government and the Bulgarian Energy Holding (BEH) have asked the World Bank to provide a sound analytical basis and options that the Ministry of Energy and BEH could consider in defining a strategy for financial recovery and the liberalization of the power market.
The advisory support will be implemented in two phases. In the first phase, which starts now in collaboration with the Bulgarian Energy Holding, the Bank will undertake an objective assessment of the sector’s financial position to propose options for the implementation of the liberalization of the power market. Continue reading
Article originally published on the World Bank website.
must complement national ones and be tailored to each country’s specific needs.WASHINGTON, July 21, 2015—The World Bank’s Board of Executive Directors today approved a new policy governing procurement in projects financed by the Bank. The new Procurement Framework will allow the World Bank to better respond to the needs of client countries, while preserving robust procurement standards throughout Bank-supported projects.
Article originally posted on the World Bank website on July 30, 2015. The project website for the Ghana Sankofa Gas Project can be found here, which also features the detailed Project Appraisal Document.
The World Bank’s Board of Directors today approved a record investment of $700 million in guarantees for Ghana’s Sankofa Gas Project – a transformational project that will help address the country’s serious energy shortages by developing new sources of clean and affordable natural gas for domestic power generation.
The Board approved a unique combination of two guarantees for the Project – an IDA Payment guarantee of $500 million that supports timely payments for gas purchases by Ghana National Petroleum Corporation and an IBRD Enclave Loan guarantee of $200 million that enables the project to secure financing from its private sponsors. Together, the guarantees are expected to mobilize $7.9 billion in new private investment for offshore natural gas, representing the biggest foreign direct investment in Ghana’s history.
The exploration and commercialization of the gas will be carried out by two private investors, Eni of Italy and Vitol Group of the Netherlands
From the Kenya – World Bank Group Taking stock 2015 report.
In fiscal year 2015 alone, some $1.3 billion of 
new IDA resources – the Bank’s finance at concessional rates – were committed: the largest in Kenya’s history. The value of the overall portfolio of 27 projects of about $4.3 billion as of June 2015 is almost double what it was just five years ago. Investments are spread across many key sectors, ranging from hard infrastructure (roads and energy) to human development (health and community development) to managing climate risk (agriculture and coastal management) to strengthening institutions delivering public services (judicial reform). Continue reading
Article published by Reuters on July 21, 2015.
(Updates with World Bank comment)
By Julia Payne
ABUJA, July 21 (Reuters) – Nigeria’s presidency said on Tuesday the World Bank had pledged to spend up to $2.1 billion to rebuild the northeast of the country that has been devastated by Boko Haram militants.
President Muhammadu Buhari met with representatives of the World Bank, the Bill and Melinda Gates Foundation, and the World Health Organization during a trip to Washington.
A World Bank spokeswoman said that during the meeting, the bank said the sum of $2.1 billion could be lent to Nigeria from its development agency and that support could also come from the International Bank for Reconstruction and Development. Continue reading
The 2015 Development Finance Forum took place in Rotterdam, the Netherlands. How to get from billions to trillions, and from trillions to action?
Netherlands for the World Bank 
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