Former head of the World Bank Mari Pangestu. LAURENT GILLIERON / AP
The global challenges
Ex-World Bank chief: Reorganization costs 32 trillion - a year
Developing countries find it difficult to switch to clean energy and reduce emissions because they lack financing options. Therefore, up to SEK 32,000 billion is required - every year - for the countries' transition. This is what the former head of the World Bank, Mari Pangestu, told CNBC.
The G20 countries meet in September in New Delhi. Ahead of the meeting, the countries' work has received criticism.
- Europe and North Africa are on fire, Asia is ravaged by floods, but the climate ministers have failed to agree on a common direction to stop the climate crisis that is escalating day by day, says Alex Scott from the E3G think tank to CNBC.
Netanyahu closest to the camera. Abir Sultan / AP
Israel's relations with the Arab world
Netanyahu: Deepening our relations with Saudi Arabia
Israel and Saudi Arabia will deepen their business relations and create an "economic corridor" from the Arabian Peninsula to Europe. But the countries are not going as far as establishing formal diplomatic relations, Israeli Prime Minister Benjamin Netanyahu told Bloomberg.
Netanyahu has long wanted to normalize the relationship, but the question is how much further the countries are ready to go. Saudi Arabia has previously demanded a free Palestine, something that Netanyahu dismisses in the interview.
Speculation has been rife that ties between the Israelis and the Saudis are about to strengthen. The United States has recently made several trips to the region, and President Joe Biden has said the countries are getting closer.
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