Tag: World Bank

World Bank Group Commits $1 Billion for Battery Storage to Ramp Up Renewable Energy Globally

Stuart Mitchell

In a major announcement at the One Planet Summit, the World Bank Group committed $1 billion for a new global program to accelerate investments in battery storage for energy systems in developing and middle-income countries. The program is expected to help these countries ramp up their use of renewables – particularly wind and solar power – improve energy security, increase grid stability and expand access to electricity.  The $1 billion in World Bank Group financing is expected to mobilize another $4 billion in concessional climate financing and public and private…

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World Bank Project Aims to Tackle Gender-Based Violence in DRC by Focusing on Prevention

Stuart Mitchell

The World Bank is committing US$100 million in International Development Association (IDA)* financing to help prevent Gender-Based Violence (GBV) in the Democratic Republic of Congo. The project will provide help to survivors but also aim to shift social norms by promoting gender equality and behavioral change through strong partnerships with civil society organizations.  In DRC—where 75 percent of women and 60 percent of men believe that wife beating is justified—involving men and boys in the process will demonstrate that violence is an issue that must be tackled at the community…

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World Bank Launches Initiative to Raise US$3 Billion in Sustainable Development Bonds, Highlighting Critical Role of Water and Ocean Resources

Stuart Mitchell

The World Bank is launching a Sustainable Development Bond series to raise awareness of the critical role of water and ocean resources. The bonds aim to raise at least US$3 billion and will provide investors with an opportunity to highlight their support for the Sustainable Development Goals (SDGs) that address water, sanitation and marine protection. The bond series, which supports the World Bank’s strategic focus on conservation and sustainable use of fresh and salt water resources, forms part of the Bank’s issuance strategy to engage investors around the SDGs since…

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