ABUJA : The World Bank is aiming to help fund construction of 1,000 mini solar power grids in Africa’s biggest economy Nigeria in partnership with the government and private sector, the lender’s president Ajay Banga said on Saturday. Nigeria, with a population of more than 200 million people, has installed power generation capacity of 12,500 […]
World Bank approves $1.5 billion financing for India’s low carbon energy sector – EQ Mag
The financing will help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen and stimulating climate finance for low-carbon energy investments. New Delhi : The World Bank said on Friday it has approved $1.5 billion in financing to accelerate the development of India’s low carbon energy sector. The financing will help India […]
World Bank needs new playbook to boost private investment in emerging markets: Ajay Banga – EQ Mag
WASHINGTON : The World Bank must use “informed risk-taking” to encourage private investors to get more engaged in helping developing countries deal with climate change and leapfrog fossil-fuel energy sources, its new president, Ajay Banga, said on Sunday. Banga told CNN‘s “Fareed Zakaria GPS” program that efforts now under way to stretch the World Bank’s […]
World Bank team meets Kerala CM; expresses interest in state’s carbon neutral initiatives – EQ Mag
Thiruvananthapuram : A World Bank team, led by Vice President for South Asia Region Martin Raiser, held discussions with Kerala Chief Minister Pinarayi Vijayan and expressed interest in projects that the state plans to implement to achieve carbon neutrality by 2050. After the meeting, Raiser said Kerala was urbanising rapidly, and this will create more […]
ADB, World Bank, Solomon Islands Initiate Groundbreaking for Water Treatment Plant Upgrade – EQ Mag
HONIARA, SOLOMON ISLANDS : The Asian Development Bank (ADB) today joined with the Government of Solomon Islands, the World Bank, Solomon Water, and members of the Kongulai Community in a groundbreaking ceremony for the Urban Water Supply and Sanitation Sector Project. Ministry of Mines, Energy, and Rural Electrification Deputy Secretary Daniel Rove led the inauguration […]
S.Africa will need $500 bn to reach net zero: World Bank
South Africa, one of the world’s largest greenhouse gas emitters, will require at least half-a-trillion dollars to achieve carbon neutrality by 2050, the World Bank said Tuesday. “Financing requirements associated with the transitions could amount to 4.4 percent of GDP per year — or 8.5 trillion rand (about $500 billion)” between this year and 2050, […]
Solar Mini-Grids Can Power 490 Million People By 2030 At $0.20/KWh; Need $127 Billion Investment: World Bank – EQ Mag Pro
Current rate of solar mini grid deployment is not enough to achieve universal electrification goals under SDG 7, says a World Bank report From $0.55 per kWh in 2018, the cost of electricity generation through this medium has come down to $0.38 per kWh and by 2030 it should further drop down to $0.20 per […]
India and World Bank in talks to boost financing for electric vehicles – EQ Mag Pro
Discussions under way to introduce risk-sharing mechanism to help banks hedge against loan defaults India’s government and the World Bank are in talks to introduce a risk-sharing mechanism to compensate banks giving loans for electric vehicle purchases, an official said, as the country seeks to decarbonise the transport sector. The risk instrument will help banks […]
Report: COVID-19 Slows Progress Toward Universal Energy Access: World Bank – EQ Mag Pro
The energy crisis arising from the war in Ukraine may lead to further setbacks WASHINGTON : The COVID-19 pandemic has been a key factor in slowing progress toward universal energy access. Globally, 733 million people still have no access to electricity, and 2.4 billion people still cook using fuels detrimental to their health and the […]
Philippines has potential for 21GW wind power by 2040: World Bank – EQ Mag Pro
MANILA : The Philippines has the potential to install 21 gigawatt of offshore wind power by 2040, equivalent to about a fifth of its electricity supply by then, according to a study released by the Department of Energy and the World Bank on Wednesday. The installation of more wind power will help cut the country’s […]
