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☆ The money is there for developing countries to shift to low-carbon energy by 2030: IFC
  + stars: | 2024-02-13 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe money is there for developing countries to shift to low-carbon energy by 2030: IFCIFC Managing Director Makhtar Diop outlines the private sector investment to carry out the energy transition in developing countries.
Persons: Makhtar Diop Organizations: IFC IFC
☆ 'We should be worried': Finance leaders warn rising interest rates are squeezing low-income countries
  + stars: | 2023-04-19 | by ( Elliot Smith | ) www.cnbc.com   time to read: +5 min
Ernest Ankomah/Getty ImagesLeaders of several global financial bodies warned that rising interest rates are increasing pressure on low-income developing countries, around 60% of which are now in or at high risk of debt distress. A lot of the debt accrued by low-income countries is coming due over the next couple of years, however, and rising interest rates mean these countries will find it increasingly difficult to meet their repayments. As such, van Trotsenburg called for "renewed solidarity with developing countries" from international bodies and major economies not just in the form of words, but with increased resources. "That's actually something that we raised a decade ago when we saw a rapid rise in the indebtedness levels of low-income countries. Diop said establishing a firm path toward economic growth in developing economies would enable them to generate investment and stand a better chance of meeting future loan obligations.
☆ Ukraine secures another $5 billion in funding after meetings, prime minister says
  + stars: | 2023-04-14 | by ( Andrea Shalal Katharine Jackson | Andrea Shalal | Katharine Jackson | ) www.reuters.com   time to read: +4 min
REUTERS/Anna KudriavtsevaWASHINGTON, April 14 (Reuters) - Ukraine secured promises of $5 billion in additional funding to support its ongoing fight against Russia amid "fruitful meetings" in Washington this week, Ukrainian Prime Minister Denys Shmyhal told reporters on Friday. Shmyhal met with representatives of the International Monetary Fund, the World Bank and the European Investment Bank as well as top U.S. officials, on the sidelines of the spring meetings of the IMF and World Bank. Ukraine needs about $14 billion in funding this year to close a budget gap, Shmyhal said, noting that the United States would provide $2.3 billion to plug the hole, while the European Union would provide 1 billion euros ($1.10 billion). The IFC program aims to leverage these donor funds using private sector investments, which will be needed to help cover the staggering cost of Ukraine's recovery. "A strong private sector is essential to help Ukraine's economy recover and support reconstruction efforts," said Makhtar Diop, the IFC's managing director.
☆ IFC MD: 60% of low-income countries at risk of debt distress
  + stars: | 2023-04-11 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIFC MD: 60% of low-income countries at risk of debt distressMakhtar Diop, the International Finance Corporation's managing director, speaks to CNBC's Joumanna Bercetche at the 2023 Annual Meetings of the World Bank Group and the International Monetary Fund.
☆ European partners are helping businesses in Ukraine, IFC managing director says
  + stars: | 2023-01-17 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEuropean partners are helping businesses in Ukraine, IFC managing director saysMakhtar Diop, managing director at the International Finance Corporation, discusses how Ukraine's economy has been impacted by the war.
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