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The US$150 million loan will promote investment in green hydrogen projects, accelerating the country’s green growth, energy transition and supporting its commitment to carbon neutrality by 2050.
In a significant move towards promoting sustainable energy solutions, the World Bank Board of Directors has approved a loan of $150 million to support green hydrogen projects in Chile. This loan marks the World Bank's first endeavor in promoting green hydrogen and aligns with Chile's commitment to achieving carbon neutrality by 2050. The investment aims to accelerate the country's green growth, energy transition, and foster a resilient and inclusive economic development.
MUSCAT, APRIL 22The Sultanate of Oman is among a tiny handful of countries globally that are walking the talk on green hydrogen with concrete projects...
The power of hydrogen to accelerate the energy transition is unprecedented. Clean hydrogen—produced using renewable energy or processes with low gas emissions—has been hailed as a potential game changer. It enables the clean production of industrial commodities and can be used to decarbonize transportation modes such as shipping and aviation. Hydrogen can be used as an alternative to fossil fuels, like coal or natural gas, or to make ammonia—a key component of synthetic fertilizers.
This panel will launch the World Bank Group’s new Hydrogen for Development Partnership (H4D), an initiative to boost the deployment of low-carbon hydrogen in developing countries.