The World Bank’s Global Economic Prospects report indicates that developing economies, which contribute 60% of global growth, are projected to experience their weakest long-term growth outlook since 2000. Global growth is expected to slow to 2.7% in 2025 and 2026 while developing economies will maintain steady growth at around 4%. However, this growth is insufficient to meet poverty alleviation and development goals. After rapid growth in the 2000s, progress slowed post-2008, with global trade restrictions and diminished foreign direct investment. Developing economies, now accounting for 45% of global GDP, remain crucial but are still reliant on advanced economies for growth.…

The World Bank and African Development Bank have outlined conditions for African countries to secure $40 billion in financing to address the continent's electricity crisis. The "Mission 300" program aims to bring electricity to 300 million Africans by 2030, with $30 billion from the banks and an additional $10 billion from private institutions. To qualify, countries must implement regulations that attract private investment, prioritize low-cost renewable energy, and ensure competitive tenders for power generation projects. They must also commit to sustainable pricing for utilities and develop plans for universal access to electricity. The initiative targets connecting half of the population…