World Bank warns of “dual energy shock” amid Middle East conflict

The World Bank highlights the risk of a dual energy shock as the Middle East conflict compounds existing disruptions, potentially leading to significant oil price increases and global economic impacts

IFC makes its first lithium investment with $180m loan

Lithium is a key component for batteries that power clean energy technologies and is expected to play a critical role in the transition towards a low carbon future

Global energy crisis: millions in darkness, billions using harmful fuels

Nearly 675 million individuals lacked electricity in 2021, while a shocking 2.3 billion people were forced to rely on harmful cooking fuels, according to the International Energy Agency

Calls for World Bank President to quit after climate denial

David Malpass has been labelled a ‘climate denier’ by many for not accepting the human impact on climate change

World Bank warns: “Energy shocks from war in Ukraine could last for three years”

The world faces the highest energy prices since the 1970s, according to the world’s largest creditor institution

Tajikistan to boost climate resilience with $45m World Bank support

The project aims to support sustainable land management in the Central Asian country and promote collaboration with other nations in the region on landscape restoration

New initiative to help develop domestic CCUS market in Nigeria

The International Finance Corporation and the World Bank are working with the Government of Nigeria to produce an atlas of CO2 emission sources and potential sites for underground sequestration

World Bank approves $700m loan to boost Ecuador’s climate resilience

It will allow the government to continue its policies to address structural challenges to achieve fiscal sustainability as well as strengthen low carbon development and support the country’s commitment to carbon neutrality by 2050

Bangladesh to modernise power grid with $500m World Bank fund

The project, which will also support the sustainable transformation of its electricity system, will deliver improved power services to around 40m people in Dhaka and Mymensingh Division

World Bank and Guatemala ink $52.5m agreement to cut emissions from deforestation

The Emission Reductions Payment Agreement will reward efforts to reduce 10.5m tons of carbon emissions through 2025 under Guatemala’s emissions reduction programme