World Bank

Panama City, Panama, May 11, 2007 – President Martin Torrijos attended a ceremony today where World Bank Vice President Pamela Cox and the country’s Minister of Economy and Finance Héctor E. Alexander,signed a US$39.4 million loan agreement for Panama to increase productivity among rural small-scale farmers while protecting important forest, mountain and marine-costal ecosystems.    » read more »

Washington, May 9, 2007 - The World Bank Executive Directors met today to consider a request from World Bank President Paul Wolfowitz for additional time to comment on the draft report of the ad hoc group, which was provided to him on May 6. They have informed the President that they agree with the recommendation of the group to extend the period for his final comments on the group’s draft report to the close of business on May 11. After considering the President’s comments, the group will complete its report.    » read more »

09 May 2007 -- Embattled World Bank president Paul Wolfowitz has been given until Friday to present his defense to an ethics inquiry being conducted by the bank's board. Support for Wolfowitz continues to erode.

Four weeks into an ethics scandal, former U.S. defense official Paul Wolfowitz continues to fight to keep his job.    » read more »

May 8, 2007 -- The Executive Board of the International Monetary Fund (IMF) has completed the second review under a three-year Policy Support Instrument (PSI) for Cape Verde. The PSI was approved on July 31, 2006 (see Press Release No. 06/172).    » read more »

Projects address citizenship and employment issues of youth in Europe and Central Asia

WASHINGTON, May 7, 2007 — The World Bank has selected 20 finalists who will compete for small grants for innovative youth projects in Europe and Central Asia (ECA). The grants, which range from EUR 5,000 to EUR 10,000, will finance projects addressing pertinent issues faced by youth in the ECA region, such as youth citizenship and employment. The winners of the ECA Youth Conference Innovation Grants Competition and Showcase will be announced at a major youth conference in Rome on May 24, 2007.    » read more »

WASHINGTON, May 8, 2007― The World Bank’s Board of Directors today approved a US$3.5 million zero-interest credit to increase youth employment in St. Lucia by providing private sector-driven training .The OECS Skills for Inclusive Growth Project will improve the knowledge and skills of beneficiaries to help youth transition to the labor market. The project will be implemented by the Ministry of Education and the National Skills Development Centre (NSDC). It is the first phase of a regional program that is open to other countries in the region.    » read more »

CO2 emissions are 16 percent higher than in 1990; Rich countries off track with Kyoto commitments; Fossil fuels are the main sources of emissions in rich countries and emerging economies; Deforestation and land use change are driving forces in the developing world

NEW YORK CITY, United Nations, May 8, 2007—Carbon dioxide (CO2) emissions – the principal man-made cause of global warming – continue to rise, with the world producing today 16 percent more CO2 than in 1990, according to the Little Green Data Book 2007, launched today on the occasion of the 15th Session of the United Na    » read more »

WASHINGTON, May 8, 2007 – The World Bank Board of Executive Directors today provided US$15 million in additional grant financing for an extension of the Transparency and Governance Capacity Building Project for the Republic of Congo. Additional government finance will also be provided in support of the project in the amount of US$5.6 million.    » read more »

08 May 2007 -- A special panel of World Bank officials has concluded that the institution's president, Paul Wolfowitz, broke bank rules in arranging a pay increase and promotion for his girlfriend.

People familiar with the panel's report said Monday that Wolfowitz has received a copy of it. The document, which has not been made public, will be presented to the World Bank's board of directors.    » read more »

Cologne, Germany, May 4, 2007-- With more than 2,400 participants, among them 46 delegations from developing countries, 220 exhibitors and a record number of more 1000 carbon emissions reduction projects proposed by project developers from developing countries and discussed with investors from industrialized countries, CARBON EXPO 2007, confirmed its role as the main global platform for business and policy development of the carbon market.    » read more »

Carbon Expo, Cologne, GERMANY, May 3, 2007—The Prototype Carbon Fund (PCF), the world’s first global carbon fund and a pioneer effort by the World Bank, announced today that it had fulfilled its mission by completing its US$180 million portfolio.    » read more »

World Bank’s Community Development Carbon Fund will purchase 200,000 tons of carbon dioxide equivalent; Revenues will be used for improved social services

COLOGNE, Germany, May 3, 2007 - An emissions reductions purchase agreement (ERPA) was signed today between the Community Development Carbon Fund (CDCF) which is managed by the World Bank, and SAGUAPAC, a Bolivian sanitation and waste water treatment cooperative. The agreement was signed during Carbon EXPO 2007, the largest trade fair and conference for the booming global carbon market.    » read more »

WASHINGTON, May 3, 2007 — The World Bank has agreed to assist the governments of Kazakhstan, the United States and Switzerland in setting up an independent foundation in Kazakhstan that will use approximately $84 million in frozen funds for development projects involving poor children and youth in the Central Asian country. The World Bank support is described in an agreement filed earlier today in court in New York under which the three governments agree to a mechanism to release the funds to support activities aimed at improving child and youth welfare.    » read more »

WASHINGTON, May 1st, 2007 — The World Bank’s Board of Directors approved today the Morocco Water Sector Development Policy Loan totaling US$100 million.    » read more »

WASHINGTON, April 26, 2007 – The World Bank’s Board of Directors today approved a US$25 million grant to Haiti in order to increase access to primary education for poor children aged 6-12, while improving equity, quality and governance of the education sector.    » read more »