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January 2019

2018 in Review: Energy and Extractives at the World Bank

Aarthi Sivaraman's picture

2018 continued to see major shifts in global energy markets and extractive industries, which were reflected in the work done by the World Bank in developing and middle-income countries. From expanding off-grid electricity projects in rural and remote areas, to announcing an ambitious $1 billion battery storage program, to a new initiative to help countries with coal mine closures, the Bank fulfilled existing commitments and announced new plans for 2019 and beyond.

Here are some highlights of the World Bank’s work in energy and extractives over the past year:

February
Riccardo Puliti, Senior Director and Head of Energy and Extractives at the World Bank, wrote a piece about how getting methane – which makes up 16 percent of greenhouse gas emissions -- out of energy production and use could provide a major boost to the fight against climate change.

March
In what is one of the largest programs of its kind in Africa, the World Bank is supporting Ethiopia’s efforts to take electricity to all its citizens by 2024 through the $375 million Ethiopia Electrification Program, which focuses on last-mile connections in addition to strengthening the capacity of the sector. The Program’s ultimate goal is to directly support new connections for over one million households in Ethiopia.
A video shows how investing in solar-powered mini-grids like this one in Ghana, is changing lives. In the towns around the Volta River, nearly 10,000 Ghanaians now enjoy uninterrupted power, which enhances security and brings new economic opportunities to these communities.