Sweltering under the record temperatures of a blistering hot spring, Pakistan's farmers have this year had a vivid glimpse of the dangers a changing climate many pose to their livelihoods. As summer's fierce heat this year arrived weeks early, the mercury rose above 50C (122F) and set what is thought to be a world record for an April temperature. The scorching weather of 2018 follows a trend of increasingly short, warm and early spring seasons which have left Pakistan's farmers struggling to deal with new weather patterns. The heat has dried out farmland and hit profits by causing fruit and vegetables to ripen earlier, but smaller. New research from the World Bank attempting to quantify how climate change will affect South Asia over the coming decades has now warned weather changes risk badly denting the living standards of hundreds of millions in the region. More than 800 million of South Asia's inhabitants live in predicted climate change “hotspots” where living … [Read more...] about World Bank warns over South Asian climate ‘hotspots’ as crops and livelihoods hit
Alex Kremer. An archive photo MOGILEV, 29 June (BelTA) – The interest of foreign investors in Belarus is constantly on the rise. The statement was made by World Bank Country Manager for Belarus Alex Kremer during the plenary session of the tenth international investment forum Mill of Success in Mogilev on 29 June, BelTA has learned.Alex Kremer noted that Belarus has been very rapidly developing for the last few years. The middle class is evolving, revenues of individuals are on the rise. The economy is very rapidly recovering after two years of recession. World Bank experts expect the economy growth to reach some 3% on the average per annum in the near future. The local private sector is in a very positive mood and the number of visits of foreign investors and delegations has increased considerably. “From my personal experience I can say that I cannot meet with foreign guests on my own and often delegate it to my colleagues,” remarked Alex Kremer.At the same … [Read more...] about World Bank notes growing interest of foreign investors in Belarus
YEREVAN. – Prime Minister of Armenia Nikol Pashinyan on Tuesday received World Ban’s Regional Director for the South Caucasus, Mercy Tembon. The Prime Minister announced importance of active and productive cooperation between the Armenian government and the World Bank, and expressed hope that the positive changes in the country will allow the new programs to be implemented. Pashinyan also focused on the priorities of the government and implementation of reforms targeted at the fight against corruption and monopoly, as well as at economic development, enhancement of the venture capital and so on. The Cabinet is interested in expanding cooperation with the World Bank, PM assured. Mercy Tembon, in turn, noted World Bank’s readiness to support the implementation of Armenian government’s program and the development of major economies. Regional Director for the South Caucasus welcomed new Cabinet’s program of institutional changes and innovations and added that … [Read more...] about Pashinyan: Armenian government interested in cooperation with World Bank
YEREVAN, JUNE 28, ARMENPRESS. President of Armenia Armen Sarkissian met with a group of members of the club of ethnic Armenian employees of the World Bank and the International Monetary Fund (IMF) in Washington D.C. on June 27, the Presidential Office told Armenpress. The Armenian President is in the US to take part in the annual Folklife Festival of the Smithsonian Institution, which will feature Armenian cultural events. Edited and translated by Aneta Harutyunyan … [Read more...] about President Sarkissian meets with Armenian-American employees of World Bank and IMF in Washington D.C.
Turkey's ever-growing energy industry continues to draw investments from international institutions. The World Bank and Asian Infrastructure Investment Bank (AIIB) have provided a $1.2 billion loan for the capacity expansion project of Lake Tuz underground natural gas storage facility, the Energy and Natural Resources Minister Berat Albayrak announced yesterday at a ceremony in Ankara. The storage facility is expected to reach 5.4 billion cubic meters of storage capacity at the end of the capacity-increasing project. Minister Albayrak stressed that the capacity expansion work in other gas storage facilities in Turkey continues. He explained that the construction of the gas storage capacity of the Northern Marmara Gas Storage Facility in Silivri continues after a deal was inked last year in April. The Silivri Natural Gas Storage Facility, which can supply 25 million bcm of gas per day to the system with its current natural gas storage capacity, will be increased to 75 million bcm per … [Read more...] about World Bank, AIIB allocate $1.2B loan for Lake Tuz natural gas storage facility