All publications by tag «WBG»
WBG - The World Bank Group will no longer finance upstream oil and gas, after 2019.
World Bank - Improved global growth prospects and continued strong domestic demand underpin a positive outlook for the developing economies of East Asia and the Pacific. Stronger growth in advanced economies, a moderate recovery in commodity prices, and a recovery in global trade growth, are the favorable external factors that will support the economies of developing East Asia and Pacific to expand by 6.4 percent for 2017.
According to the World Bank’s Special Focus Note on reforming land markets, the moratorium on agricultural land sales, along with weaknesses in the transparency of land rights and transactions, are major impediments to attracting investment and unlocking productivity in Ukraine’s agriculture sector.
We reiterate our commitment to a strong, quota-based, and adequately resourced IMF to preserve its role at the center of the Global Financial Safety Net. We support the work of the IMF to strengthen its cooperation with regional financing arrangements, and its ongoing work to further enhance the effectiveness of its lending toolkit.
World Bank Group commitments to help developing countries take on poverty and boost opportunity reached nearly $59 billion in loans, grants, equity investments and guarantees in fiscal year 2017.
Nigeria, South Africa, and Angola, the continent’s largest economies, are seeing a rebound from the sharp slowdown in 2016, but the recovery has been slow due to insufficient adjustment to low commodity prices and policy uncertainty. Furthermore, several oil exporters in the Central African Economic and Monetary Community (CEMAC) are facing economic difficulties.
To meet Sustainable Energy for All objectives, it is estimated that renewable energy investment would need to increase by a factor of 2-3, while energy efficiency investment would need to increase by a factor of 3-6. Estimates suggest that a five-fold increase would be needed to reach universal access by 2030.
The World Bank’s current portfolio in Vietnam consists of 49 operations, worth a total of 9.5 billion USD supporting infrastructure, agriculture, human development and improvement in economic and financial sector management. Support to infrastructure includes transport, energy, water and sanitation, and irrigation.
The scaled-up IDA financing will build on a portfolio of 448 ongoing projects in Africa totaling about $50 billion. Of this, a $1.6 billion financing package is being developed to tackle the impending threat of famine in parts of Sub-Saharan Africa and other regions.
The World Bank is holding steady its crude oil price forecast for the year at $55 per barrel, a 29 percent jump from 2016. The energy price forecast assumes members of the Organization of the Petroleum Exporting Countries (OPEC) and other oil producers will partially comply with an agreement to limit production after a long period of unrestrained output.