Tag Archives: World Bank Group

IDA’s Role in an Increasingly Complex Global Aid Architecture

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STORY HIGHLIGHTS

  • Global aid architecture has transformed significantly in the last two decades, with Official Financial Flows (OFF) increasing and benefiting low-income countries.
  • However, this led to a complex and fragmented aid architecture and fewer concessional resources. Multiple donors and channels create obstacles for low-income countries with weak implementation capacity.
  • IDA is the partner of choice to tackle challenges caused by complex aid architecture. Its global presence and ability to convene stakeholders facilitate better coordination among various efforts.
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Collaboration between the Netherlands and Ivory Coast on Coastal Protection

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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.

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The Commodity Markets Outlook in eight charts

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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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Banking on Women Who Trade Across Borders

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“Banking on Women Who Trade Across Borders” underscores the critical need for genderrepor-cover-banking-on-women-who-trade-across-borders equality in international trade and trade finance. Despite the documented positive impacts of women-owned businesses on economic growth and poverty reduction, a significant gap remains in understanding how international trade intersects with female participation, particularly in accessing trade finance. Drawing from interviews across Africa and Latin America, the report explores the challenges faced by female entrepreneurs and proposes solutions.

 

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Despite High Potential, 75 Vulnerable Economies Face ‘Historic Reversal’

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In Half of IDA Countries, Income Gap with Wealthiest Economies is Widening

WASHINGTON, April 15, 2024—Despite their high potential to advance global prosperity, one-half of the world’s 75 most vulnerable countries are facing a widening income gap with the wealthiest economies for the first time in this century, a new World Bank report has found. Taking full advantage of their younger populations, their rich natural resources, and their abundant solar-energy potential can help them overcome the setback.

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Ingredients for Accelerating Universal Electricity Access: Lessons from Rwanda’s Inspirational Approach

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In just 15 years, Rwanda has increased its electricity access to 75% from 6% in 2009. This took government ownership, leadership, and commitment, partnership with the private sector, funding from development partners, and dedicated structure and institutional strengthening.

The goal of lighting up every household is not a dream, but an achievable reality. In a remarkable 15-year journey, Rwanda increased access to electricity to households from 6% in 2009 to 75% as of March 2024. The country has connected 100% of health centers and administrative facilities at the sector level and 84% of schools and most productive users (micro, small, and medium-sized enterprises). This electrification expansion was one of the fastest in the world between 2010 and 2020, ranking 11th globally and 3rd in Africa.

Government ownership, leadership, and commitment to universal electrification. Since 2008, the Government of Rwanda (GoR) has been intentional in engraining electrification targets in its development strategies. The Economic Development and Poverty Reduction Strategy 1 (EDPRS1 2008-2012) set out targets for electricity connections from 70,000 to 200,000 households, and for institutions providing social and administrative services from 50% to 80%. Likewise, both the EDPRS2 (2013-2018), and the National Strategy for Transformation 1 (2017-2024) set a universal electrification target by 2024.

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Recipe for a Livable Planet: Achieving Net Zero Emissions in the Agrifood System

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Download the report here recipe-cover-publication-page

Recipe for a Livable Planet is the first comprehensive global roadmap for mitigating the agrifood system’s contributions to climate change. It shows how the agriculture system that produces the world’s food can cut greenhouse gas emissions while continuing to feed the world.

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The world cannot afford to ignore the poorest countries

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They are home to a quarter of humanity—1.9 billion people. They possess prized naturalida-poverty-1440x500_1140x500 resources, including one-fifth of the world’s copper and gold reserves, as well as many of the rare metals essential for the transition to clean energy. Their working-age populations are set to expand for the next five decades amid demographic decline nearly everywhere else. Yet a historic reversal is underway among the world’s 75 countries eligible for grants and low-interest loans from the World Bank’s International Development Association (IDA).

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New Guarantee Platform Delivers Efficiency, Simplicity to Boost Impact

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STORY HIGHLIGHTS

  • Beginning July 1, the World Bank Group’s one-stop guarantee platform will bring together all of its guarantee products and experts.
  • The platform will help provide transparency and certainty for the World Bank Group’s clients across the guarantee process, with a better client experience.
  • Streamlining these offerings will help maximize the limited capital available for impactful development in emerging markets and developing economies.
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