News

Europe and Central Asia facing energy crunch

The outlook for primary energy supplies, heat, and electricity is questionable for the Eastern Europe and Central Asia region, despite Russia and Central Asia’s current role as a major energy supplier to both Eastern and Western Europe. In spite of the underlying resource base, the region as a whole will face an energy crunch unless investments of more than $3 trillion are made over the next 20 years, according to the new World Bank report.

Afghanistan Reconstruction Trust Fund to support the Afghan government’s development agenda with anticipated $2.6 billion over next 3 years

Representatives of donor countries met to discuss one of the main vehicles for international cooperation in Afghanistan: the Afghanistan Reconstruction Trust Fund, administered by the World Bank. Supported by 31 countries, the fund has mobilized over $3.6 billion since it was established in 2002, and has now become the main financing vehicle for Afghan development priorities.

Poor road safety conditions threaten economic and social well-being of Europe and Central Asia countries

Unsafe road traffic conditions in the countries of Europe and Central Asia have tremendous adverse implications for their economic and social well-being, says a World Bank report.

World Bank supports improved and increased supply of electricity to southern regions of Kazakhstan

The World Bank Board of Directors approved a $48 million loan for the Kazakhstan Moinak Electricity Transmission Project, which will help to increase and improve the supply of electricity to households and business enterprises in an economically and environmentally sustainable manner in southern regions of Kazakhstan.

World Bank approves additional financing for Azerbaijan’s Highway Program

The World Bank approved a $62 million equivalent IDA Credit and $113 million IBRD loan to the Republic of Azerbaijan as additional financing for the Second Highway Project.

World Bank supports improved transport efficiency and safety in Kazakhstan

The World Bank Board of Directors approved a $2.125 billion loan for the Kazakhstan South-West Roads Project to help upgrade the trade route linking China to Russia and Western Europe through Kazakhstan, bringing a helpful economic stimulus to some of Kazakhstan’s poorest provinces.

Grant of $7 million to support renewable energy in rural Mongolia approved

This will help finance the Renewable Energy for Rural Electricity Access Project, which will assist the country to provide electricity for herders and rural people who do not have access to the main power grid.