Read the latest positive news, breakthroughs, and inspiring stories about development banks, curated daily by BrightWire.
Global development banks and G20 nations are now investing more in clean energy than fossil fuels, marking a historic shift in climate finance. The milestone comes as renewable energy support averaged $52.7 billion annually compared to $36.3 billion for oil and gas.
A development finance expert says Africa's funding solution isn't more foreign aid. It's building strong domestic capital markets that let African savings finance African growth.
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South Africa's Development Bank just posted its highest profits ever, up 47% to $430 million, while partnering with other institutions to fund a massive infrastructure rebuild. Despite economic challenges, the country's development banks are channeling billions into energy, transportation, and job-creating projects.
South Korea is connecting its artificial intelligence water systems with major global development banks to tackle water crises in developing countries. The move could bring smart flood forecasting and pollution solutions to nations struggling with water security.
Outdated banking rules have blocked billions in clean energy funding from reaching African solar and wind projects, but researchers now know exactly how to fix three key problems. Development banks and credit agencies are being called to update decades-old systems that treat cutting-edge green energy like risky speculation.