Caught in the crosshairs of escalating global crises, Small Island Developing
States (SIDS) meet May 27-30, 2024, together with the international community, to discuss ways to tackle issues including their vulnerability to the impacts of climate change, exposure to pollution, and economic headwinds.
Washington D.C., May 28, 2024—IFC, a member of the World Bank Group, today launched a new initiative to help financial service providers deliver funds to small businesses in emerging markets, especially those owned by women and those focused on agriculture and climate.
The MSME Finance Platform (the Platform) will include a financing package of up to $4 billion from IFC’s own account to banks, non-bank financial institutions, microfinance institutions, and innovative digital lenders that focus on micro, small, and medium enterprises (MSMEs). It will be available to both new and existing IFC clients.
Carbon pricing can be one of the most powerful tools available to policymakers to incentivize reducing emissions as part of an integrated policy mix. A decade ago, carbon pricing policies covered only 7% of global emissions. Today, nearly a quarter are covered by these instruments.
Continue readingHow much do African firms use digital technology, for what purposes, and how can they be encouraged to use it more? While advances have been made in digitalizing Africa, with mobile payments a success story, firms still face challenges like higher costs of technology. Much more can be done to enable and empower them to reap its full potential, IFC research shows. A new book, Digital Opportunities in African Businesses, outlines the steps to be taken—from investing in digital infrastructure to funding tech startups offering user-friendly, affordable digital solutions. More than 600,000 formally registered firms and 40 million microbusinesses—about 20 percent of businesses in Africa—are potentially ready to benefit from digital upgrades.
As part of our efforts to become a better Bank, one that’s fit for purpose to meet the needs of the countries we support and to end poverty on a livable planet, the World Bank is transforming its approach to knowledge. We’re putting the client, those living in developing countries, at the heart of our knowledge work.
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The governments of Ivory Coast and the Netherlands, represented by Ivory Coast officials, Invest International, and the Dutch Minister of Foreign Trade and Development Cooperation, Liesje Schreinemacher, have initiated a project to strengthen the coastline near Abidjan. The collaboration aims to protect Ivory Coast’s coastline from flooding and erosion using sustainable, nature based solutions. To begin, a feasibility study funded by a one million euros investment will assess the best methods for coastal reinforcement. The subsequent implementation phase, anticipated to cost millions of euros, will safeguard Ivory Coast’s coastal regions and creates substantial opportunities for Dutch companies.
Continue readingVisit the Work with USAID’s YouTube Channel
Have you taken a look at Work with USAID’s YouTube channel recently? This is a great resource to help you navigate partnering with USAID. The YouTube channel contains playlists where you can find videos specific to your needs. “Resources on WorkwithUSAID.gov” holds demo videos to help you explore the WorkwithUSAID.gov platform. You can also view recordings of webinars like the Business Forecast and Partner Updates webinars to better understand the Agency’s priorities and the How to Work with USAID 101 webinars to learn how USAID approaches funding. Also, check out our video resources in French, Arabic, and Spanish!
Commodity prices are projected to experience a slight downturn in 2024 and 2025 but are expected to remain above pre-pandemic levels. Energy prices are expected to decline by 3 percent in 2024, as notably lower prices of natural gas and coal offset higher oil prices, followed by a further decline of 4 percent in 2025. Agricultural prices are expected to ease as well in this year and next amid improved supply conditions. Metal prices are set to remain steady in 2024, before rising slightly in 2025. Although the price forecasts assume no further conflict escalation, risks remain tilted to the upside, stemming from the possibility of conflict in the Middle East and its consequent impact on energy supplies.
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Netherlands for the World Bank 
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