Development Banks support climate fund
Nineteen leading investment banks have come together to support poor nations in the fight against climate change. At the UN Climate Change conference in Durban, South Africa, the banks - which have joined forces as the International Development Finance Club (IDFC) - agreed to expand funding for the "Green Climate Fund", and set up a "smart partnership" for this purpose. The IDFC, of which KfW Entwicklungsbank is a member, was founded in September this year.
Power From the Desert
The heat of the desert as an energy source: at Ouarzazate in the south of Morocco, the country’s first large-scale solar plant is under construction. Representatives from KfW Entwicklungsbank and MASEN, the Moroccan solar energy agency, have signed a 15 million euros contract for a 160 megawatt solar power plant.
The role of elites in Africa
The actions of elites determine development in many countries. It frames the conditions for politics, the economy and society. Elites should contribute to their countries developing in a positive way. But do elites always act in this way? "The country needs new leadership?! The role of elites in Africa" was the title of the 61st Berlin Expert Talk on globalisation held by KfW Entwicklungsbank and the Hanns-Seidel Foundation.
Fragile States are Marked by Violence
Development cooperation faces great challenges in countries that are affected by crisis and conflict. Where violence and war have the upper hand, distress and misery are widespread. "In fragile states poverty has not diminished over the past 20 years but instead has increased", said Joel Hellman, Director of the newly established 'Global Center on Conflict, Security and Development' at the World Bank, during his visit to KfW Entwicklungsbank. At the same time, great progress has been made in reducing poverty in stable developing countries.
New projects in Serbia and Kosovo
KfW Entwicklungsbank is sponsoring programmes which contribute to the economic progress being made in Eastern Europe. Funding of 100 million euros was made available to assist urban development in Serbia. Among other things, the funds will be used to expand the district heating systems and improve drinking water supplies. KfW is also contributing five million euros to strengthen the banking system in Kosovo.
Social Enterprises in India
For the first time KfW Entwicklungsbank has invested in a social venture fund for so-called Social Entrepreneurs. Along with suitable profits, social entrepreneurs explicitly provide social benefits, while meeting particularly high environmental and social standards.
Network of Development Banks
They join forces against climate change, shortcomings in public infrastructure and obstacles to social development. Chairpersons and managing directors of 19 leading development banks founded the International Development Finance Club (IDFC) and signed the statutes of the new network in Washington. Dr. Ulrich Schröder, Chief Executive Officer of KfW Bankengruppe, was elected as the first Chair of the club.
Modernising railways
KfW Entwicklungsbank supports the modernisation of the railway lines between Uganda and Kenya. Together with six other international and African lenders, KfW is promoting the expansion of the existing railway network to a length of almost 2,000 kilometres. In addition, new locomotives and train cars are being procured. KfW Entwicklungsbank has provided a loan of USD 32 million for this to Rift Valley Railways.
