A quick scan of the headlines tells you everything that those of us working in international
development already know: today’s world is not business as usual. In just a few short years, the global landscape has transformed in a way that very few of us could ever have anticipated.
Tag Archives: RVO
Publication: Brazil Country Climate and Development Report
Abstract
Brazil is highly exposed to climate change risks. The impacts of global climate change risks and local practices on the Amazon and Cerrado biomes are of particular concern, as they provide vital ecosystem services to Brazil, the South American region, and the world. The Brazil Country Climate and Development Report (CCDR) examines the implications of climate change and climate action for Brazil’s development objectives and priorities. It identifies opportunities for Brazil to achieve both its development goals and its climate commitments. It lays out a combination of sectoral and economy-wide policy reforms, as well as targeted investments in near- and medium-term mitigation and adaptation measures to achieve more rapid and inclusive development with lower greenhouse gas (GHG) emissions. The idea is to maximize synergies between climate and development objectives, while addressing trade-offs among policy objectives and key transition challenges.
Shaping tomorrow’s debt restructuring system
As the debt crisis has unfolded in many of the world’s poorest countries, much attention has 
focused on seeking individual debt restructurings through the G20 Common Framework. This remains a priority, but the implementation remains slow and lacks the predictability needed to provide debtors and creditors with confidence. The Global Sovereign Debt Roundtable and the April 26 World Bank debt conference, Breaking the Impasse in Global Debt Restructuring, discussed effective debt restructurings and debt sustainability. The conference also addressed how to avoid excessive debt build-up; and pressing questions regarding the debt sustainability implications of a decline of net international reserves into negative territory as countries draw on debt-like instruments such as swap lines. Following this week’s G7 Finance Ministers and Central Bank Governors meeting in Japan, we will publish the initial findings from a recent debt reconciliation initiative, which points to many technical challenges in agreeing on the amounts of debt to be treated in a restructuring.
Impactful climate mitigation requires standards, verification and standardization
Climate costs and development together need vast new resources. For developing countries, 
the needs are particularly large to provide for growing populations and decades of underinvestment. They need to make major advances on education, energy production, electricity access, health, infrastructure and nutrition just to make up for losses in recent years. Climate costs require significant additional resources, as does the increase in the cost of debt service and repayment.
Meeting Vietnam’s climate financing challenge
Vietnam is on the frontlines of the climate crisis, with increasingly destabilized water and
food supplies and threatened coastal areas. In the face of these challenges, the government is showing bold leadership and climate ambition. The recently updated Nationally Determined Contribution (NDC) significantly increased targets for emissions reductions across several key sectors. Vietnam has also translated global pledges on forests and methane into specific national action plans and policy priorities.
What is missing, however, is the financing needed to achieve these goals. Carbon markets and results-based carbon and climate finance, which pays for emission reductions once they are achieved, have huge potential to help meet this financing challenge. The quickly evolving carbon market ecosystem, however, has many rules, requirements, players, and priorities. The government of Vietnam has requested World Bank Group support in navigating this complexity and identifying opportunities to access carbon finance and market opportunities.
“Vietnam is on the frontlines of the climate crisis, with increasingly destabilized water and food supplies and threatened coastal areas. In the face of these challenges, the government is showing bold leadership and climate ambition.”
Food Security Update | World Bank Response to Rising Food Insecurity
Latest Update – April 24, 2023
Domestic food price inflation remains high around the world. Information from the latest month between December 2022 and March 2023 for which food price inflation data are available shows high inflation in almost all low- and middle-income countries, with inflation levels greater than 5% in 70.6% of low-income countries, 90.9% of lower-middle-income countries, and 87.0% of upper-middle-income countries and many experiencing double-digit inflation. In addition, 84.2% of high-income countries are experiencing high food price inflation. The most-affected countries are in Africa, North America, Latin America, South Asia, Europe, and Central Asia.
Download the latest brief on rising food insecurity and World Bank responses
Seminar on Financing Green Hydrogen Projects in Developing Countries
Wednesday May 10 at 15:30-17:00 CET, World Hydrogen Summit Rotterdam 
Join us at the World Hydrogen Summit for a seminar on Financing Green Hydrogen Projects in Developing Countries with the IFIs and Invest International.
Better Migration Policies Can Help Boost Prosperity in All Countries
Competition for workers rising as populations age in rich and middle-income countries
WASHINGTON, April 25, 2023—Populations across the globe are aging at an unprecedented pace, making many countries increasingly reliant on migration to realize their long-term growth potential, according to a new report from the World Bank.
Seminar on Financing Green Hydrogen Projects in Developing Countries
Wednesday May 10 at 15:30-17:00 CET, World Hydrogen Summit Rotterdam
Join us at the World Hydrogen Summit for a seminar on Financing Green Hydrogen Projects in Developing Countries with the IFIs and Invest International.
Small Island Developing States on a Path to Renewable Energy and Resilience: A Story from Maldives
Small Island Developing States (SIDS), which are home to 65 million people and bastions of 
biodiversity, face unique challenges. Because they are small, their economies are not diversified and hence particularly vulnerable to external shocks, such as the collapse of tourism during COVID 19 or sky-rocketing energy and food prices in the wake of Russia’s invasion of Ukraine. They are also extremely vulnerable to the rising sea levels and extreme weather brought on by climate change.
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