The International Finance Corporation (IFC) is investing $137 million to advance electric public transport in India, providing $100 million to JBM ECOLIFE (JBM), a leading e-bus manufacturer and operator, and $37 million in mezzanine capital to GreenCell Mobility, India’s largest OEM-agnostic e-bus operator. These investments aim to deploy 4,000 e-buses and charging stations across 39… [Read More]
World Bank
IFC Celebrates 20 Years in Iraq, Unveils $1 Billion in New Investments for Development
The International Finance Corporation (IFC), a member of the World Bank Group, held an IFC Partnerships Day in Baghdad to celebrate 20 years of impact in Iraq and to announce $1 billion in new investments across energy, infrastructure, agribusiness, and finance. The event, held under the patronage of Prime Minister Mohammed Shia’ al-Sudani, underscored IFC’s… [Read More]
Haiti Advances Landscape Management to Boost Food Security
Agriculture is central to rural livelihoods in Haiti, providing income for most families and employing two-thirds of the rural population. Yet the sector continues to face serious challenges that deepen rural poverty, which affects up to 75 percent of low-income households who often lack access to essential services. Years of underinvestment in rural infrastructure, public… [Read More]
Jordan’s Green Industrial Shift: A Key Step in Protecting the Ozone Layer
Jordan’s foam, refrigeration, and air conditioning industries once relied heavily on chemicals that contributed to greenhouse gas emissions and damaged the ozone layer. In line with its commitment under the Montreal Protocol, the country pledged to eliminate these harmful substances by 2030. With support from a World Bank-funded initiative, Jordan reduced its consumption of ozone-depleting… [Read More]
Embracing Climate-Smart Growth: A Net Win for Uganda’s Future
Climate change poses a significant threat to Uganda’s economic future, with projections showing it could cut growth by up to 3.1% by 2050. This could push more than 613,000 people into poverty and force 12 million into internal migration. The World Bank Group’s Country Climate and Development Report (CCDR) for Uganda, launched in Kampala, highlights… [Read More]
Nigeria: AfDB and ICRC Join Forces to Strengthen Water Access in Maiduguri
The Government of Borno State, in partnership with the African Development Bank (AfDB) and the International Committee of the Red Cross (ICRC), has launched a new initiative to expand access to safe, resilient, and inclusive water services in Maiduguri. The partnership was announced at a roundtable on Tuesday, 10 September, marking one year since devastating… [Read More]
Zambia’s Copper Boom: Can the Workforce Keep Pace?
Zambia aims to triple its copper production by 2031, driven by rising global demand and investments from major mining companies such as Anglo American, First Quantum Minerals, Barrick, and Kobold. Copper has long been a cornerstone of Zambia’s economy, contributing 15% of GDP and over 70% of exports. Despite this, production has remained around 800,000… [Read More]
A Decade of Resilience: Bhutan and the World Bank Strengthen Climate and Disaster Preparedness
Bhutan, one of the world’s most climate-vulnerable countries, is advancing a comprehensive approach to disaster and climate risk management, integrating resilience into policies, institutions, and infrastructure. With a decade-long partnership with the World Bank, the country is building a model framework for preparedness and sustainable development. In February 2025, Bhutan marked a significant milestone by… [Read More]
Ethiopia’s TVET Reforms Empower Young Women with Skills and Opportunities
In Ethiopia, major reforms to the technical and vocational education and training (TVET) system are helping young women gain practical skills, pursue employment, and start small businesses. Supported by the World Bank–backed EASE and EASTRIP projects, the reforms aim to improve training quality, promote inclusion, and better align education with labor market demands. At Misrak… [Read More]
World Bank Raises AUD 1.5 Billion Through Dual Sustainable Bond Tap
The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA, Moody’s/S&P) has successfully raised AUD 1.5 billion by reopening its August 2028 and February 2035 Sustainable Development Bonds. The taps added AUD 800 million to the 3-year line and AUD 700 million to the 10-year line, bringing their outstanding amounts to AUD 1.7 billion… [Read More]
Multilateral Development Banks Deliver Record $137 Billion in Climate Finance in 2024
Multilateral development banks (MDBs) provided a record $137 billion in climate finance in 2024, up 10% from the previous year, according to a new joint report released today. The majority of the funding was directed to low- and middle-income economies, underscoring MDBs’ growing role in advancing global sustainable development. Private finance mobilised by MDBs for… [Read More]
Burkina Faso Secures $250 Million from Global Fund to Strengthen Disease Response
Burkina Faso will receive $250 million in funding from the Global Fund for the 2024–2026 cycle to reinforce its fight against HIV/AIDS, tuberculosis, and malaria, amid growing pressure on the country’s health system. The announcement was made in Ouagadougou by Maria Kirova, the Global Fund’s country representative, during a meeting with Minister of Economy and… [Read More]
World Bank Launches New Program to Safeguard India’s Coastline and Boost Jobs in Tamil Nadu and Karnataka
The World Bank’s Board of Executive Directors has approved a new $212.64 million project to protect India’s coastal ecosystems, curb plastic pollution, and create sustainable livelihoods for 100,000 people in Tamil Nadu and Karnataka. India’s coastline stretches over 11,000 kilometers, with nearly one-third vulnerable to erosion and climate-related threats. About 250 million people rely on… [Read More]
Multilateral development banks hit record $137 billion in climate finance, driving sustainable development worldwide
In 2024, multilateral development banks (MDBs) delivered a record $137 billion in global climate finance, marking a 10% increase and highlighting the rising scale of international investment in climate action. The majority of these funds were directed to low- and middle-income economies, emphasizing support for countries most vulnerable to climate impacts. The MDBs also mobilized… [Read More]
World Bank Raises EUR 90 Million Through 7-Year Sustainable Development Bond for Japanese Investor
The World Bank, through its International Bank for Reconstruction and Development (IBRD), has issued a EUR 90 million 7-year Sustainable Development Bond maturing in September 2032. The National Mutual Insurance Federation of Agricultural Cooperatives (Zenkyoren) was the sole investor in the transaction. The proceeds from this bond will finance eligible sustainable development projects that generate… [Read More]
Accounting for Natural Capital: Africa’s Path to Resilient and Sustainable Development
Nature forms the foundation of economic growth, providing essential services such as climate regulation, flood prevention, agricultural productivity, and human health support. Despite their critical importance, these services have historically been absent from national accounting systems. However, a shift is occurring as countries increasingly measure and value nature’s contributions through natural capital accounting (NCA), with… [Read More]
World Bank: Sri Lanka Urged to Adopt Balanced Fiscal Policy for Sustainable Growth
Sri Lanka has undertaken one of the largest fiscal adjustments in its history, amounting to nearly 8 percent of GDP over three years. According to a new World Bank review, this adjustment was sharper and faster than most similar efforts worldwide since 1980. While these measures helped restore economic stability, they also placed a burden… [Read More]
Ireland Contributes €200,000 to Promote Safe and Inclusive Trade in Developing Nations
Ireland has announced a contribution of EUR 200,000 (approximately CHF 187,400) to the Standards and Trade Development Facility (STDF) to help strengthen sanitary and phytosanitary (SPS) systems in developing countries. This latest funding brings Ireland’s total support to the STDF since 2007 to more than CHF 3.8 million. The contribution will help implement the STDF’s… [Read More]
World Bank Group Partners with Sri Lanka to Enhance Agriculture, Rural Jobs, and Climate Resilience
More than 380,000 people in Sri Lanka are set to benefit from a new US$100 million partnership between the Government of Sri Lanka and the World Bank Group. The initiative, known as the Integrated “Rurban” Development and Climate Resilience Project, aims to strengthen rural livelihoods, create jobs, and build climate resilience in the country’s agri-food… [Read More]
Mozambique Launches $6 Billion Electricity Project, Southern Africa’s Largest in 50 Years
Mozambique is embarking on an ambitious $6 billion electricity project—the Mphanda Nkuwa hydroelectric plant—which is set to become the largest power project in southern Africa in the past 50 years. Supported by the World Bank and private sector players, the 1,500 MW plant is expected to begin operations in 2031 and aims to significantly boost… [Read More]
Uzbekistan’s Strategy to Unlock Jobs and Drive Economic Prosperity
In Bukhara, 24-year-old Ravshan Akhrorov’s job as a waiter has become a critical source of financial stability, enabling him to support his parents and plan for his future. Working at the Old Bukhara Restaurant for seven years, he has not only out-earned his siblings and relatives working in the public sector but also purchased household… [Read More]
World Bank: Vietnam’s Growth to Stay Resilient in 2025, High-Tech Talent Pivotal for Future
Viet Nam’s economy is projected to grow by 6.6 percent in 2025, bolstered by a robust first half of the year in which growth surged to 7.5 percent, according to the World Bank’s latest Viet Nam Economic Update report. This strong performance was driven primarily by early-year export momentum. However, growth is expected to moderate… [Read More]
Addressing Global Food Security Challenges: Insights from Natasha Hayward
Natasha Hayward, Program Manager of the Global Agriculture and Food Security Program (GAFSP) at the World Bank, shared her expert insights on global food security in an exclusive interview with Capital. With over two decades of experience across Africa, South and East Asia, Hayward has led major initiatives in agriculture, rural livelihoods, and nutrition security,… [Read More]
