The World Bank announced in November its first Sustainable Development Bond in Norwegian krona to raise awareness for water and ocean resources. The NOK 2.5 billion 1.75% bond matures on 6 November 2024. Nordea Bank Abp was the sole underwriter and distributor for the transaction.
The World Bank issued its “World Development Report 2020” focusing on the development of the global value chains, the changes that have come and are about to come and the effects of the value chains in global trade.
Improve the analytics and knowledge base on marine pollution and water quality is key for restoring damaged ecosystems and protecting the Caribbean’s marine resources, said the World Bank in a recent report, examining how marine pollution in the Caribbean threatens the region’s resilience to climate change.
Mozambique is expected to become the world’s third largest natural gas exporter by 2023, bringing a projected $39 billion to the Mozambican economy over the next 20 years and creating over 700,000 jobs by 2035, according to data provided by UN Environment.
The World Bank Group announced a new program to advance the adoption of offshore wind energy in developing countries. The World Bank and IFC will help these markets evaluate their offshore wind potential and provide technical assistance to develop a growing pipeline of projects that are ready for investment by renewable energy developers.
The 49th World Economic Forum Annual Meeting closed Friday, marking further steps to addressing the complex challenges brought about by the Fourth Industrial Revolution. Among the key outcomes was that climate change risks wipe out one-quarter of global GDP and inflict immeasurable suffering.
According to the World Bank, the January 2019 edition ‘Darkening Skies’ focuses on the economic growth that has weakened, the trade tensions remain high, several developing economies have experienced financial stress, and risks to the outlook have increased. As the report stresses, emerging market and developing economies, EMDEs, face great challenges but are expected to remain flat in 2019.
The Republic of Seychelles has launched the world’s first sovereign blue bond, according The World Bank. The bond, which raised US$15 million from international investors, is a pioneering financial instrument designed to support sustainable marine and fisheries projects, demonstrating the potential for countries to harness capital markets for financing the sustainable use of marine resources.
According to the World Bank report 2019 on Ease of Doing Business, India has jumped 23 ranks from 100 in 2017-18 to 77 in 2018-19. This indicates that the country is continuing its shift towards global standards. The report mentions that this improvement is mainly because of India’s reform agenda.
In line with its commitment on green financing, the World Bank Group announced in late September the creation of PROBLUE, a new multi-donor trust fund intended to support healthy and productive oceans by tackling marine pollution, managing fisheries and fostering sustainable growth of coastal economies.
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