The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Group. The bank is headquartered in Washington, D.C. in the United States. It provided around $98.83 billion in loans and assistance to "developing" and transition countries in the 2021 fiscal year. The bank's stated mission is to achieve the twin goals of ending extreme poverty and building shared prosperity. Total lending as of 2015 for the last 10 years through Development Policy Financing was approximately $117 billion. Its five organizations are the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID). The first two are sometimes collectively referred to as the World Bank.
A green economy is an economy that aims at reducing environmental risks and ecological scarcities, and that aims for sustainable development without degrading the environment. It is closely related with ecological economics, but has a more politically applied focus. The 2011 UNEP Green Economy Report argues "that to be green, an economy must not only be efficient, but also fair. Fairness implies recognizing global and country level equity dimensions, particularly in assuring a Just Transition to an economy that is low-carbon, resource efficient, and socially inclusive."
A low-carbon economy (LCE) or decarbonised economy is an economy based on energy sources that produce low levels of greenhouse gas (GHG) emissions. GHG emissions due to human activity are the dominant cause of observed climate change since the mid-20th century. Continued emission of greenhouse gases will cause long-lasting changes around the world, increasing the likelihood of severe, pervasive, and irreversible effects for people and ecosystems. Shifting to a low-carbon economy on a global scale could bring substantial benefits both for developed and developing countries. Many countries around the world are designing and implementing low-emission development strategies (LEDS). These strategies seek to achieve social, economic, and environmental development goals while reducing long-term greenhouse gas emissions and increasing resilience to the effects of climate change.
Geothermal energy in Turkey is a significant part of renewable energy in Turkey: it is used for geothermal heating and generates 3% of Turkey's electricity.
The Climate Investment Funds (CIF) is a multilateral fund working to pilot and scale climate solutions in developing countries. Established at the request of the G8 and G20 in 2008, CIF administers a collection of programs that help resource-strapped nations fight the impacts of climate change and accelerate the shift to a low-carbon economy. Through contributions from 14 donor countries, CIF supports more than 350 projects in 72 low and middle-income countries on the frontlines of the climate crisis.
Benin is a coastal country located in the Gulf of Guinea in Western Africa, which is a resource rich region. Energy in Benin has a diverse energy mix and takes several forms including: solar, wind, hydropower, biomass, fossil resources, and mineral resources. Out of this energy mix, about 60% of energy comes from biomass. Benin is also dependent on energy imports from Ghana and Côte d'Ivoire. While power plants and other energy facilities were built in the 1950s and 1960s, the lack of investment has led to deterioration over time. Similarly, its location in the oil-rich Gulf of Guinea has led to an attempt of oil production starting in the late 1980s. However, due to unprofitable operations, oil production halted in 1998.
Most of Kenya's electricity is generated by renewable energy sources. Access to reliable, affordable, and sustainable energy is one of the 17 main goals of the United Nations’ Sustainable Development Goals. Development of the energy sector is also critical to help Kenya achieve the goals in Kenya Vision 2030 to become a newly industrializing, middle-income country. With an installed power capacity of 2,819 MW, Kenya currently generates 826 MW hydroelectric power, 828 geothermal power, 749 MW thermal power, 331 MW wind power, and the rest from solar and biomass sources. Kenya is the largest geothermal energy producer in Africa and also has the largest wind farm on the continent. In March 2011, Kenya opened Africa’s first carbon exchange to promote investments in renewable energy projects. Kenya has also been selected as a pilot country under the Scaling-Up Renewable Energy Programmes in Low Income Countries Programme to increase deployment of renewable energy solutions in low-income countries. Despite significant strides in renewable energy development, about a quarter of the Kenyan population still lacks access to electricity, necessitating policy changes to diversify the energy generation mix and promote public-private partnerships for financing renewable energy projects.
The Kızıldere Geothermal Power Plant is a geothermal power plant located at Kızıldere village of Sarayköy district in Denizli Province, southwestern Turkey. The initial power plant with 15 MW installed capacity was expanded in the second phase about 80 MW to 95 MW in total, making the facility Turkey's biggest geothermal power plant. It is planned to expand the power plant in a third and fourth phase.
Although sun and wind could supply plenty of energy in Turkey, hydropower is the only renewable energy which is fully exploited, averaging about a fifth of national electricity supply. However in drought years much less electricity is generated by hydro. Over half of capacity is renewables, and it is estimated that over half of generation could be from renewables by 2026 but Turkey has invested less in solar and wind power than similar Mediterranean countries. Turkey lacks a renewable energy plan beyond 2023 which includes transport, industry, heating and cooling as well as electricity generation. More renewable energy could be used to reduce the nation's greenhouse gas emissions and thus avoid paying other countries' carbon tariffs. The country is a net exporter of wind power equipment, but a net importer of solar power equipment. Total non-hydro renewables overtook hydro in 2021.
China originally joined the World Bank Group(WBG) on December 27, 1945. However, after the Chinese Civil War, the World Bank recognized the Republic of China as its member, until the relationship ended in 1980, when the membership was replaced by the People's Republic of China. The People's Republic of China (PRC) did not become involved with the World Bank group until 1980, when it first joined the World Bank in April due to the market reforms known as reform and opening-up. Prior to the economic reform and its relation with the World Bank, according to CRS, "China maintained policies that kept the economy very poor, stagnant, centrally controlled, vastly inefficient, and relatively isolated from the global economy" Since its entry into the World Bank, China has transformed into a market-based economy and has experienced rapid economic and social development. Currently, although China has become the world's second largest economy with 1.4 billion population, it still has a close relationship with the World Bank in areas such as poverty, environmental protection and new challenges from the reform.
Morocco's involvement with the World Bank primarily focuses on infrastructure, such as road, transport and water sanitation. In addition the bank supports projects across the health sector, youth development, renewable energy, governance and the support of small and medium enterprises (SMEs). 27 projects are ongoing, including three projects initiated in 2017. The World Bank invested over US$1 billion every year from 2014 to 2016.
Mexico has a thriving, diverse economy with strong macroeconomic institutions and is open to trade and private investment. With a population of over 130 million, Mexico is filled with citizens in the upper middle income bracket. Its economy is the 11th fastest growing in the world. Low growth rates and significant inequalities continue to hamper the growth of the Mexican economy. This is a central issue and is addressed in the systematic country diagnostic. The World Bank Group (WBG) discussed its support for the new Country Partnership Framework (CPF) for Mexico on February 27, 2020. The CPF covers a six-year period (2020-2025) and aligns the WBG’s engagement with the government’s National Development Plan. The CPF builds on the analysis of the Systematic Country Diagnostic (SCD) and reflects the views and strategy of the authorities on the way to foster growth and poverty reduction.
Vietnam joined the World Bank Group (WBG) on 21 September 1956. Before the mid-1980s, Vietnam was one of the world's least developed countries. A series of economic and political reforms launched in 1986, known as Đổi Mới, caused Vietnam to experience rapid economic growth and development, becoming a lower middle-income country. The World Bank (WB) has maintained a development partnership with Vietnam since 1993. As of 25 March 2019, it has committed a total of US$24 billion in loans, credits, and grants to Vietnam through 165 operations and projects, 44 of which are active as of 2019 and comprise US$9 billion. With an estimated extreme poverty rate below 3% and a GDP growth rate of 7.1% in 2018, Vietnam's economy continues to show fundamental strength and is supported by robust domestic demand and export-oriented manufacturing.
In 1980, Djibouti became a member of the World Bank Group (WBG). The WBG includes five different organizations: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID). Accounting for more than thirteen thousand projects across 173 countries, the WBG is one of the main lending facilities of the world. The WBG works together with governments and private sectors in order to enhance countries efforts towards development and poverty reduction.
The World Bank Group (WBG) provides grants, credits and policy analysis to support economic development in Tanzania with a focus on infrastructure and private sector growth. As of 2018, WBG supports 25 active projects with funding of more than $3.95 billion. The WBG provides analytical and technical assistance in coordination with these projects. From 2007-2018 Tanzania maintained real GDP growth averaging 6.8% a year. Growth concentrated in the agricultural and transportation sectors. Complementing this growth, the poverty rate in Tanzania fell from 28.2% in 2012 to 26.9% in 2016. Debate exists over the validity of this growth as development may be unevenly dispersed among different geographic and income groups.
Croatia joined the World Bank in 1993, two years after declaring independence from the Socialist Federal Republic of Yugoslavia in 1991. The World Bank's projects from the mid-1990s to the mid-2000s primarily focused on infrastructural and environmental projects.
Myanmar is considered a lower-middle income state, and although there are areas in the country that are lagging there have been measurable improvements in terms of development since 2005. The World Bank's current strategy in Myanmar is to focus on rural development. Due to the conflict in the Rakhine area the World Bank Group (WBG) has increased its focus on social inclusion. Implementation of projects within Myanmar have increased access to electricity, schools, and healthcare. The current framework is laid out in the Myanmar Country Partnership Framework 2015-2019.
After separating from the World Bank and other International Financial Institutions for decades due to pressure from the Soviet Union, Poland rejoined the World Bank on June 27, 1986. The World Bank was instrumental in financing and providing technical assistance for Poland as it transitioned from a Command Economy into a Market-Oriented Economy. As a middle income country, Poland has worked primarily with the International Bank for Reconstruction and Development since it is not eligible for loans from the International Development Association. Additionally, Poland has had a few projects with the Multilateral Investment Guarantee Agency and the International Finance Corporation. Currently, most of Poland's engagements with the World Bank Group concern environmental concerns and public finances.
Malaysia's independence in 1957 was a catalyst for growth. As the nation took charge of managing its own affairs, it continued to develop the goals and means necessary for a financial structure conducive to the economic growth observed today. Critical to the transition of Malaysia from a low-income country to one of high-income status has been the expansion of its economy. From a commodity and agricultural-based economy, the Southeast Asian nation is transitioning to a leading exporter of more complex goods. As the nation opens up to trade and investment, the World Bank and the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA) continue to assist with its development.
The World Bank Group is a large international financial institution that continuously provides loans and grants in order to fund capital projects in poor and developing nations across the globe. Its main goal is to reduce poverty worldwide. It consists of five other large international financial banks within in, each providing funding for different types of projects. Belarus joined the World Bank back in 1992 and has since then received over $2.5 billion in lending commitments since then and in the form of grant financing, it has received $31 million, with much of this funding going towards programs that include civil society partners. Currently, Belarus's active portfolio within the World Bank has a total of $933 million, with it containing a total of nine different projects, as well as two more projects that are currently still in preparation in the areas of energy efficiency and higher education. The majority of this funding has been directed towards the themes of pollution management and environmental health, climate change, and rural services and infrastructures, with the majority of the funding going directly into the central government, other agencies and extractives, and forestry sectors of the country, as well as sustainable energy. In looking to have more economic growth, improving the private sector environment within Belarus could help.
