MANILA : The Philippines has the potential to install 21 gigawatt of offshore wind power by 2040, equivalent to about a fifth of its electricity supply by then, according to a study released by the Department of Energy and the World Bank on Wednesday. The installation of more wind power will help cut the country’s […]
World Bank: Lighting Up Rural Communities in Bangladesh: The Second Rural Electrification and Renewable Energy Development Project – EQ Mag Pro
Life used to come to a near standstill after sunset for the great majority of Bangladeshis living in the countryside. Only two-thirds of rural households have access to grid electricity, and they suffer from frequent power cuts. Since 2012, the Second Rural Electrification and Renewable Energy Development Project (RERED II) has helped increase access to […]
Bengal secures 135 million World Bank loan to upgrade rural power distribution network – EQ Mag Pro
Kolkata, International Bank for Reconstruction and Development (IBRD) has approved a USD 135 million loan to West Bengal to improve the operational efficiency and reliability of electricity supply in select pockets in the state. The IBRD and its concessional lending arm, the International Development Association (IDA), are collectively also called the World Bank. The variable […]
World Bank sees ‘significant’ inflation risk from high energy prices
WASHINGTON :– Energy prices are expected to inch up in 2022 after surging more than 80% in 2021, fueling significant near-term risks to global inflation in many developing countries, the World Bank said in its latest Commodity Markets Outlook on Thursday. The multilateral development bank said energy prices should start to decline in the second […]
World Bank approves loan for hydropower plant in Indonesia – EQ Mag Pro
The hydropower plant will help Indonesia to meet electricity demand and support its decarbonisation goals. The World Bank has approved a $380m loan for the development of the first pumped-storage hydropower plant in Indonesia. The loan will be used to build the 1,040MW Upper Cisokan plant located between Jakarta and Bandung. World Bank Indonesia and […]
India, World Bank Sign $250 Mn Project For Making Dams Safe
The Indian government, the Central Water Commission, representatives from 10 participating states, and the World Bank on Wednesday signed a $250 million project for long-term dam safety programme and improving the safety and performance of existing dams across various states. New Delhi : The Indian government, the Central Water Commission, representatives from 10 participating states, […]
Tender for 40 MW/40 MWh of Battery Energy Storage Systems on Selected Islands in Maldives
Supply, Install, Commission, Operate & Transfer of Battery Energy Storage Systems (BESS) on Selected Islands in Maldives Last date to submit the bids is September 2, 2021 The Government of the Republic of Maldives has received financing from the World Bank toward the cost of the Accelerating Renewable Energy Integration and Sustainable Energy Project, and […]
City Climate Finance Gap Fund Approves Support For Six Cities
Free technical assistance for the preparation of early-stage climate action projects. Energy efficiency, renewable energy, sustainable mobility, waste management and water projects. The Gap Fund is supporting cities in developing and emerging economies The City Climate Finance Gap Fund (Gap Fund) announced today the second round of cities that will receive free technical assistance to […]
Why the Green Climate Fund Should Give Developing Countries Greater Direct Access to Finance
At its latest board meeting in March 2021, the Green Climate Fund (GCF) approved $1.2 billion in funding for 15 climate change projects in developing countries. However, funding for only two of these projects, or 1.5% of the total amount, went directly to developing country institutions. The GCF, one of the financial mechanisms the Paris […]
Solar Home Systems Provide Clean Energy for 20 million People in Bangladesh- World Bank
The off-grid solar electrification programme has provided electricity to approximately 16 percent of the rural population of Bangladesh. The programme was launched as a household pilot in 2003 for 50,000 families. Presently, Bangladesh has the largest off-grid solar power programme in the world enabling over 20 million Bangladeshis to access electricity. During a book launch […]