World Bank aids Vietnam’s transition to a solar auction program

The Global Infrastructure Facility’s (GIF) Governing Council has approved $1.5m in funding to support the World Bank’s work with the government of Vietnam on a Solar Pilot Auction Program. The GIF, working with the World Bank’s Energy Global Practice, will help the government to design and ...

WB approves additional funding for disaster recovery in Laos

The World Bank’s Board of Executive Directors Last Friday approved 50 million U.S. dollars of additional financing in Southeast Asia Disaster Risk Management Project in Laos and the Lao Road Sector Project II. The additional funding will help reduce the financing gap for reconstruction following widespread ...

Xuxin

Groups object to $250m World Bank project

More than 40 civil society organisations urged the World Bank to stop a project worth US$250 million (K380.3 billion) in eastern Myanmar over concerns it could undermine Karen culture and traditions.   The Peaceful and Prosperous Communities Project targets the development of conflict zones in eastern Myanmar.  According ...

National conference on sustainable development held

The National Conference on Sustainable Development 2019 took place in Hanoi on September 12 under theme “For a Decade of More Sustainable Development”, gathering leaders of the Government, ministries, sectors, localities, associations, and businesses. The event aimed to seek practical and effective measures to develop the ...

Economic growth rebounding but further reform needed: World Bank

The World Bank is optimistic about economic growth in Laos, which is projected to rebound to 6.5 per cent in 2019, rising from 6.3 per cent recorded last year.  Despite continued fiscal tightening, the pickup is expected to be driven by robust investment in mega infrastructure ...

Somsack Pongkhao

World Bank Puts Myanmar’s Power Investment Needs at $2B a Year

To sustain economic growth, Myanmar needs to invest up to US$2 billion (3.06 trillion kyats) annually in its electricity sector, according to a World Bank report released on Tuesday. In the report, “Myanmar Economic Monitor: Building Reform Momentum”, the World Bank said Myanmar’s economic growth is ...

World Bank warns of Myanmar’s urbanisation challenges

With more people moving to Yangon and other key destinations for better opportunities, the World Bank has warned of the challenges related to urbanisation in Myanmar at the launch of its latest report on Thursday. Judy Baker, lead economist for social, urban, rural and resilient global ...

KhineKyaw

The World Bank is rewarding ethnic cleansing in Myanmar

This month, the World Bank published a proposal for a $100 million development project in Rakhine state, the region of western Myanmar that recently saw the systematic ethnic cleansing of the Rohingya Muslim community. The aim of the project is to fund credit for small businesses in ...

Azeem Ibrahim

World Bank to provide $1 billion in assistance, Ministry says

The World Bank will approve the disbursement of $1 billion to Cambodia to develop priority sectors in the next five years, according to the Ministry of Economy and Finance. The announcement was made by a World Bank delegation during a recent meeting with Acting Minister of ...

Chea Vannak

World Bank Group Announces $50 billion over Five Years for Climate Adaptation and Resilience

The World Bank Group today launched its Action Plan on Climate Change Adaptation and Resilience. Under the plan, the World Bank Group will ramp up direct adaptation climate finance to reach $50 billion over FY21–25. This financing level—an average of $10 billion a year—is more ...

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