China’s growth has moderated somewhat to a still healthy pace, with a shifting composition, according to the World Bank’s latest China Quarterly Update released today.
The Update, a regular assessment of China’s economy, finds that GDP growth declined from 10.6 percent in the first half to a still surprisingly strong 9.6 percent (year on year) in the third quarter.
WASHINGTON DC, NOVEMBER 9, 2010 – The World Bank Board of Executive Directors approved a US$74.7 million loan to support a program designed by the Honduran government to address its difficult short term fiscal situation and balance fiscal accounts, which will bear fruit in the middle and long term, thus boosting the country’s development.
World Bank Group President Robert B. Zoellick and Singapore Minister for Finance Tharman Shanmugaratnam today joined senior public and private sector leaders from Asia to launch an Infrastructure Finance Center of Excellence (IFCOE) to support regional governments in tapping private capital for infrastructure.
In a history-making move this week, Bangladesh, Niger and Tajikistan were awarded a total of $270 million for first-of-a-kind country-wide plans for resilience against climate impacts. Coming just weeks before the UN climate conference in Cancun, this financing is among the largest funding ever granted to countries for national-level adaptation to climate impacts.
The World Bank’s Africa Director for Sustainable Development, Mr Jamal Saghir, ended a five-day visit in Cameroon this week during which he discussed with Cameroonian authorities on ways to make sure economic growth benefits all people across the country. Other sectors that were discussed include telecoms, energy, mining, and forestry.
The World Bank Board of Executive Directors approved a US$150 million loan today for the Dominican Republic to support the introduction of a results-based accountability system to measure progress in social protection, mainly education and health, in order to expand human capital and improve the transparency and quality of public spending.
The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, announced today that the agency’s Council of Governors has approved substantial changes to its convention. These changes are the first since the agency was established in 1988 and will allow MIGA to insure more investments and thereby increase its development impact.
In a significant trend to rebalance energy services toward clean technology, twenty developing countries are investing in large-scale renewables, particularly solar, wind and geothermal services, as a robust source of energy access for their citizens. Just weeks before the global climate negotiating session in Cancun, this trend away from high-emissions sources and toward clean energy sounds a positive note for real climate-smart development.