World Bank must drive private investment in climate transition: Banga

WASHINGTON: The World Bank must use"informed risk-taking" to encourage private investors to get more engaged in helping developing countries deal with climate change and leapfrog fossil-fuel energy sources, its new president Ajay Banga said on Sunday .

"The only way forward is to find a way to get the private sector to believe that this is part of their future," said Banga, who will visit Peru and Jamaica this week as part of a tour to visit countries in every region where the bank operates. "That's kind of a thing that we can do with informed risk-taking," Banga said, noting that renewable energy was now cheaper in many cases than fossil fuels due to improvements in storage and duration.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

World Bank needs new playbook to boost private investment in emerging markets - Banga(Corrects name of program to CNN's 'Fareed Zakaria GPS', not CBS's 'Face the Nation' in paragraph 2, changes CBS to CNN in penultimate paragraph)By Andrea ShalalWASHINGTON :The World Bank must use 'informed risk-taking' to encourage private investors to get more engaged in helping developing countries
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

World Bank needs new playbook to boost private investment in emerging markets, new chief saysWASHINGTON : The World Bank must use 'informed risk-taking' to encourage private investors to get more engaged in helping developing countries deal with climate change and leapfrog fossil-fuel energy sources, its new president, Ajay Banga, said on Sunday.Banga told CNN's 'Fareed Zakaria GPS' program that
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »