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Why Africa's power partnership with the World Bank should attract investors
De-risking a plan to bring 300 million people electricity in Africa | Global Stage

Why Africa's power partnership with the World Bank should attract investors

There’s a word frequently used at global convenings like the World Bank Group’s Spring Meetings held this week in Washington, D.C.—multistakeholder. It refers to an approach to problem solving that involves input from a wide range of players—governments, civil society, private sector corporations and investors.

It will take a multistakeholder approach to bring an ambitious new project announced Wednesday to fruition, an initiative to provide electricity to 300 million people in Africa by 2030.

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The debilitating cost of remittances
The Debilitating Cost of Remittances | Economic Empowerment | GZERO Media

The debilitating cost of remittances

Dilip Ratha knows how hard it is to work abroad and send money home. Why? Because he had to go through the same hoops when he was a migrant.

It's the inconvenience and the cost, the World Bank's head of KNOMAD and lead economist says during a livestream conversation on closing the global digital gap hosted by GZERO in partnership with Visa.

Still, Ratha points out, these flows are a lifeline for millions of poor families around the world. And they keep the lights on in remittance-dependent economies like El Salvador or Lebanon.

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Focus on Africa: hunger, energy, climate - and the path to growth
"Lives At Risk" in Sub-Saharan Africa Due To Rising Food and Fuel Costs | Global Stage | GZERO Media

Focus on Africa: hunger, energy, climate - and the path to growth

Sub-Saharan Africa was on the brink of economic recovery last year. Now, the World Bank expects its growth to slow in 2023. With global inflation on the rise, rising food and fuel costs “actually put lives at risk in a way few other shocks can," says International Monetary Fund (IMF) senior economist Andrew Tiffin.

And sub-Saharan Africa is particularly vulnerable: 123 million people there are currently food-insecure, while the region accounts for 6% of the global energy demand. With climate change exponentially leading to those numbers rising, Tiffin says: “Any globally viable discussion has to take into account Africa’s concerns and needs. Because without that, there is simply no solution.”

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Xi Jinping's WEF speech on China's global leadership falls flat; Italy PM resigns over stimulus
Xi Jinping WEF Speech On China Global Leadership Falls Flat | Italy PM | World In :60 | GZERO Media

Xi Jinping's WEF speech on China's global leadership falls flat; Italy PM resigns over stimulus

Ian Bremmer shares his perspective on global politics on this week's World In (More Than) 60 Seconds:

What did you think of Xi Jinping's speech at the virtual World Economic Forum?

Well, his last speech at the real World Economic Forum in Davos, I remember being there four years ago, and given that Trump had just been elected, Xi Jinping gives this big, "We want to stand up and be leaders while the Americans are doing America first." And generally speaking, was probably the most important speech of the week. People liked it. This is a pretty different environment, not so much because Trump has gone, but rather because support and belief in Xi Jinping is pretty low. I will say one thing that was generally well responded to was the call not to enter into a new Cold War. Anybody in the business community generally supports that. There's so much integration and interdependence between the US and the Chinese economies that when Xi Jinping says, "We need to find ways to continue to work together," I mean, this is the pro-globalization audience he's speaking to. They generally agree. But otherwise, the message fell pretty flat. So, the idea that China is going to be globally useful on issues of leadership, especially when it comes to anything that might threaten Beijing's sovereignty, they check global norms at the door. And a few examples of that, when Xi called for support for the rules-based international order, that's in obvious contrast with China's violation of the one country, two systems framework in Hong Kong. And they said, "Well, that's a domestic issue." Well, actually that's not what your agreement was with the British handover. And just because you're more powerful doesn't mean that norm doesn't matter anymore.

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