poverty on the whole is declining, that’s not the case in countries affected by conflict. It is these countries plagued by near-constant political and economic instability that are often the ones most in need of private investment. Yet they are also the places few private investors are willing to go. The risks seem to outweigh the rewards.. And while
Global growth has strengthened over the past year, with a recovery in investment, trade, and commodity prices amid supportive global financial conditions. Still, downside risks remain, and prospects for growth vary widely across countries. The World Bank Group is uniquely positioned to help developing countries address the complex challenges that can threaten their gains in an increasingly interconnected global economy.
This was a key message from the Development Committee, a ministerial-level forum of the World Bank Group and the International Monetary Fund, in a communiqué issued at the close of the institutions’ Annual Meetings in Washington.
WASHINGTON, August 25, 2017 – The World Bank announced today an emergency
Deadline: 20-Jul-2017 at 11:59:59 PM (Eastern Time – Washington D.C.)
The Government of Kenya (GoK) is partnering with the International Development Association (IDA) of the World Bank to develop and implement the Kenya Water Security and Climate Resilience Program (KWSCRP). The detailed design for the LN irrigation scheme and flood dikes, will be completed for review by May 7, 2017, and construction contracts award expected in October -November 2017. The client is very interested in the climate change risk assessment and management for the flood protection infrastructure and irrigated cropland expansion as well as the resilience level of the integrated flood risk management system. The overall objective of the consultancy is to quantitatively assess the climate change risk vis-à-vis other risks unrelated to such change, followed by guidelines for a phased adaptation leading to increased resilience of the integrated Nzoia River Flood Program and irrigated expansion using the Decision Tree Framework.
- World Bank Group President Jim Yong Kim and Tanzanian President John Magufuli unveiled the foundation stone for the Ubongo Interchange, which will ease transportation bottlenecks and help businesses.
- The interchange is supported by a $225 million concessional credit from the International Development Association (IDA), in addition to an IDA Scale-up Facility Credit of $200 million.
- Under the first phase of the Bus Rapid Transit system, roundtrip travel time on the corridor was reduced by 90 minutes a day, saving commuters 16 days of sitting in traffic.
Funds will scale up investments and de-risk private sector participation for accelerated growth and development
BADEN BADEN, Germany, March 19, 2017— Following a meeting with G20 finance ministers and central bank governors, World Bank Group President Jim Yong Kim today announced a record $57 billion in financing for Sub-Saharan African countries over the next three fiscal years. Kim then left on a trip to Rwanda and Tanzania to emphasize the Bank Group’s support for the entire region.
The bulk of the financing – $45 billion – will come from the International Development Association (IDA), the World Bank Group’s fund for the poorest countries. The financing for Sub-Saharan Africa also will include an estimated $8 billion in private sector investments from the International Finance Corporation (IFC), a private sector arm of the Bank Group, and $4 billion in financing from International Bank for Reconstruction and Development, its non-concessional public sector arm.
What will you remember about 2016? At the World Bank Group, it was a remarkable year that included a record IDA replenishment and a landmark speech by Michelle Obama. Get inspired by our Top Ten moments of 2016 and work together with us to help end extreme poverty and boost shared prosperity in the new year.
Targets fragility, refugees, climate change and other pressing challenges
YOGYAKARTA, INDONESIA, December 15, 2016— A coalition of more than 60 donor and borrower governments agreed today to ratchet up the fight against extreme poverty with a record $75 billion commitment for the International Development Association (IDA), the World Bank’s fund for the poorest countries.
“This is a pivotal step in the movement to end extreme poverty,” World Bank Group President Jim Yong Kim said. “The commitments made by our partners, combined with IDA’s innovations to crowd in the private sector and raise funds from capital markets, will transform the development trajectory of the world’s poorest countries. We are grateful for our partners’ trust in IDA’s ability to deliver results.”
President Kim Says Funds Will Further Increase Resilience to Climate Change
DHAKA, October 18, 2016—World Bank Group President Jim Yong Kim, concluding a two-day trip to Bangladesh focused on the country’s successes in reducing extreme poverty, pledged $2 billion over the next three years in new funding to help the country become less vulnerable to climate change.
Article published on http://www.worldbank.org, August 9th, 2016.
By Lisa Finneran
Is it hot outside? Should I bring an umbrella?
Most of us don’t think much beyond these questions when we check the weather report on a typical day. But weather information plays a much more critical role than providing intel on whether to take an umbrella or use sunscreen. It can help manage the effects of climate change, prevent economic losses and save lives when extreme weather hits.
During the second IDA18 replenishment meeting in Nay Pyi Taw, I visited the Myanmar Department of Meteorology and Hydrology’s Multi-Hazard Early Warning Center to see how funding from IDA, the World Bank’s fund for the poorest, is helping the country modernize its systems for observing and forecasting weather through the Ayeyarwady Integrated River Basin Management Project.