While China’s financial sector has deepened rapidly in recent years, privately-owned firms and small and medium enterprises often lack access to equity to finance their expansion.
“Public capital is at times needed to catalyze private investments, for example where public seed capital can help demonstrate new environmental standards or demonstrate high-risk high-reward investments that help create global public goods.
The Fund will be independently managed by a competitively selected fund manager, responsible for all investment decisions.
The World Bank Group, the largest multilateral funder of climate investments in developing countries, has not financed a new coal-fired power plant since 2010 and has no active coal-fired power generation in its pipeline.
The World Bank approved this Wednesday new financing to support Côte d’Ivoire to strengthen the competitiveness of export-oriented agro-industrial and manufacturing value, a key objective of the government’s Vision 2030.
Through the establishment of a Long-Term Investment Facility , the project will also improve access to financing for at least 200 startups and young SMEs – including those led by women – and 30 large enterprises involved in green investments.
The Higher Education Acceleration Transformation Project—the first World Bank-supported regional education project in South Asia—will support regional collaboration in the higher education sector, including student mobility through equivalence programs, credit transfer schemes, and university twinning arrangements within the region.
The project will support pandemic and emergency response and build systemic resilience in the higher education sector with a specific focus on digitization.
“For our collective future, higher education is a necessity, not a choice.
It will establish a South Asian Higher Education Portal, hosted in Bangladesh, to facilitate the ‘virtual mobility’ of students, by allowing students from the registered universities to take courses for credit outside their home country.
South Asia region has the second-lowest female labor force participation rate globally.
“The regional project will prepare the students, particularly the female students for working in leadership and decision-making positions,” said Henry Kerali, World Bank Country Director for Afghanistan.
“The project will help meet the increasing demand for quality higher education in South Asia.
The credit is from the World Bank’s International Development Association , and has a 30-year term, including a five-year grace period.
Delegates adopted conclusions that outlined a framework for urgent action towards universal, adequate, comprehensive and sustainable social protection systems that are adapted to developments in the world of work.The actions included measures to strengthen national social protection policies, close financing gaps, strengthen governance and adapt social protection systems in the aftermath of the crisis and in the context of the future of work.Delegates adopted an emergency resolution on Myanmar , which called for the restoration of democracy, the reestablishment of civilian rule, the end to arbitrary detentions and violations of human rights, and the restoration of fundamental principles and rights at work.
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