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World Bank and Switzerland Sign New ESMAP Agreement

World Bank President Jim Yong Kim and Swiss Federal Councilor Johann N. Schneider-Amman signed an administrative agreement for continued support to the World Bank’s Energy Management Assistance Program (ESMAP).  The signing took place in the context of an event in Bern, commemorating 25th  anniversary of Switzerland joining the World Bank as a key development partner.

Switzerland has been one of ESMAP’s key donors, rejoining the program in 2015. The renewed support is part of Switzerland’s $8.05 million contribution to ESMAP’s FY17-20 Business plan that will allow ESMAP to leverage its position within the World Bank to help countries to ensure access to affordable, reliable, sustainable, and  modern energy for all by 2030.

Switzerland joined the World Bank Group in 1992 after Swiss voters approved the accession with a 56 percent majority. Switzerland is committed to a strong multilateral system and supports the implementation of the 2030 agenda for sustainable development. Switzerland is a co-donor of the WBG and also co-finances selective development projects.

During the commemorating ceremony, the Bank’s successes and challenges of the past 25 years were discussed, as well as future avenues explored to how the World Bank might contribute to reaching the UN Sustainable Development Goals and reducing poverty worldwide.