World Bank approves $350 million grant for Malawi hydropower project
BLANTYRE - The World Bank's board of directors has approved a $350 million grant to support a large hydropower storage project in Malawi that will significantly increase the Southern African country's generation capacity.
The World Bank said in a statement late on Thursday that the Mpatamanga Hydropower Storage Project would help supply electricity to over 1 million new households and create thousands of jobs.
The public-private partnership with an expected overall cost of over $1.5 billion will represent the largest foreign direct investment in Malawi's history.
In September 2022 the Malawian government selected a consortium consisting of Electricité de France and SN Malawi BV owned by British International Investment, Norfund and TotalEnergies to lead the project's development and implementation.
The project will have a total generation capacity of 358 megawatts, doubling Malawi's installed hydropower capacity by building two dams along the Shire River between two existing hydropower facilities, according to its website. REUTERS
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Straits Times
an hour ago
- Straits Times
Trump touts his diplomatic record, but the results are mixed
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: Ukrainian President Volodymyr Zelenskiy gestures as U.S. President Donald Trump reacts during a meeting at the Oval Office of the White House, amid negotiations to end the Russian war in Ukraine, in Washington, D.C., U.S., August 18, 2025. REUTERS/Kevin Lamarque/File Photo WASHINGTON - U.S. President Donald Trump has frequently invoked his success at resolving international conflicts, casting himself as a global peacemaker while his aides and some foreign leaders push for him to receive the Nobel Peace Prize. He has found Russia's war in Ukraine to be far more vexing. Trump has put himself squarely in the middle of the diplomatic attempts to bring peace but has wavered on what he's willing to do to achieve it. Here are some of the foreign disputes Trump has intervened in since beginning his second term in January, using a mix of threats, inducements and the power of his office to shape the behaviors of allies and foes. ARMENIA AND AZERBAIJAN Trump brought together the leaders of Armenia and Azerbaijan on August 8 to sign a joint declaration pledging to seek peaceful relations between nations that have been at odds since the late 1980s. "I got to know them through trade," Trump said later in a radio interview. "I was dealing with them a little bit and I said, 'Why you guys fighting?' Then I said, 'I'm not going to do a trade deal if you guys are going to fight. It's crazy.'" The two countries had committed to a ceasefire in 2023. In March they said they had agreed on the text of a draft peace agreement, but that deal has not been signed. The White House-brokered declaration falls short of a formal peace treaty that would place legally binding obligations on both sides. One snag is over whether an agreement requires Armenia to revise its constitution. The leaders also struck economic agreements with Washington that granted the U.S. development rights to a strategic transit corridor through southern Armenia. The Trump administration said this would allow for greater exports of energy. In documents released at the time, the corridor was named after Trump. CAMBODIA AND THAILAND Trump helped bring Thailand to the table for talks after long-simmering tensions with Cambodia spilled over in July into a five-day military conflict, the deadliest fighting there in over a decade. The U.S. president reached out to acting Thai Prime Minister Phumtham Wechayachai two days after fighting erupted along a 200-km-long (125 mile) stretch of the border. Trump withheld deals on tariffs with both countries until the conflict ended. Up to that point, Bangkok had rejected third-party mediation and had not responded to offers of help from Malaysia and China, Reuters reporting showed. Trump's intervention helped get Thailand to the table, according to Lim Menghour, a Cambodian government official working on foreign policy. Subsequent talks yielded a fragile agreement to end hostilities, resume direct communications and create a mechanism to implement the ceasefire. Trump went on to impose a 19% tariff on both countries' U.S.-bound exports, lower than he had initially floated. ISRAEL, IRAN AND THE PALESTINIAN TERRITORIES Trump has maintained strong U.S. backing for Israel as it pummels Gaza and tries to uproot Hamas. He has also supported its efforts to disable other Iran-backed groups, including Hezbollah and the Houthi movement, and Tehran itself. The U.S. president is working to expand the Abraham Accords, an initiative from his first term that aims to normalize diplomatic ties between Israel and Arab nations. But a solution to Israeli-Palestinian and Iranian conflicts has eluded Trump, just as it has all U.S. presidents for decades. Washington provides weapons and diplomatic cover to Israel as its Prime Minister Benjamin Netanyahu has dismissed international condemnation of the humanitarian toll of his military campaign in Gaza. Israel and Hamas agreed to a deal to halt fighting in Gaza in January, after Trump's election but before his inauguration. The deal had been mediated by Egypt and Qatar and also involved personnel from the outgoing Biden and incoming Trump administrations. Israel abandoned the ceasefire in March. Talks toward a new ceasefire collapsed in July. Mediators are trying to revive a U.S.-backed ceasefire plan but Israel is also planning a new, expanded military operation in Gaza. Trump has blamed Hamas for not seeking a reasonable settlement of the conflict and pressured them to do so. Trump initially pursued talks with Tehran over its nuclear program. Israel launched an aerial war on Iran on June 13 and pressed Trump join in. He did on June 22, bombing Iranian nuclear sites. He then pressed Israel and Iran to join a ceasefire that Qatar mediated. The situation remains bitter and unstable. Iran continues to reject U.S. demands that it stop enriching uranium for its nuclear program. And Israel has said it will strike Iran again if it feels threatened. RWANDA AND DEMOCRATIC REPUBLIC OF THE CONGO Rwanda and Democratic Republic of Congo signed a U.S.-brokered peace agreement on June 27 under pressure from Trump, raising hopes for the end of fighting that has killed thousands and displaced hundreds of thousands more this year. The fighting is the latest episode in a decades-old conflict with roots in the 1994 Rwandan genocide. Rwanda sent thousands of soldiers over the border, according to analysts, to support M23 rebels who seized eastern Congo's two largest cities and lucrative mining areas earlier this year. Rwanda denies helping M23. In February, a Congolese senator contacted U.S. officials to pitch a minerals-for-security deal. Then, in March, Qatar brokered a surprise sit-down between Congolese President Felix Tshisekedi and Rwanda's Paul Kagame during which the two leaders called for a ceasefire. Qatar has also brokered talks between Congo and M23, but the two sides are yet to agree on a peace deal and violence continues. At the White House, Rwandan Foreign Minister Olivier Nduhungirehe told Trump that past deals had not been implemented and urged Trump to stay engaged. Trump warned of "very severe penalties, financial and otherwise" if the agreement is violated. INDIA AND PAKISTAN U.S. officials worried conflict could spiral out of control when nuclear-armed India and Pakistan clashed in May following an attack in India that Delhi blamed on Islamabad. Consulting with Trump, U.S. Secretary of State Marco Rubio and Vice President JD Vance pushed Indian and Pakistani officials to de-escalate the situation. A ceasefire was announced on May 10 after four days of fighting. But it addresses few of the issues that have divided India and Pakistan, which have fought three major wars since their independence from the United Kingdom in 1947. Days after the ceasefire, Trump said he used the threat of cutting trade with the countries to secure the deal. India disputed that U.S. pressure led to the ceasefire and that trade was a factor. EGYPT AND ETHIOPIA Egypt and Ethiopia have a long dispute over the Grand Ethiopian Renaissance Dam, which Cairo regards as a national security issue and worries will threaten its Nile River water supplies. "We're working on that one problem, but it's going to get solved," Trump said in July. White House spokeswoman Karoline Leavitt later included Egypt and Ethiopia in a list of conflicts that "the president has now ended." It's unclear what Trump is doing on the issue. In public statements, he has largely echoed Cairo's concerns, and some of his statements have been disputed by Ethiopia. Ethiopia's Prime Minister Abiy Ahmed has vowed to open the dam in September over the objections of both Sudan and Egypt. Egypt's President Abdel Fattah al-Sisi, who welcomed Trump's comments on the issue, has vowed to protect his own country's interests. SERBIA AND KOSOVO Kosovo and Serbia still have tense relations nearly five years after agreements Trump brokered with both during his first term in office to work on their economic ties. Without providing evidence, Trump said in June he "stopped" war between the countries during his first term and that "I will fix it, again," in his second. Kosovo declared independence in 2008, almost a decade after NATO bombed Serb forces to halt the killing and expulsion of ethnic Albanians from the region during a 1998-1999 counter-insurgency war. But Serbia still regards Kosovo as an integral part of its territory. The countries have signed no peace deal. Kosovo's prime minister Albin Kurti has sought to extend government control over the north, where about 50,000 ethnic Serbs live, many of whom refuse to recognize Kosovo's independence. Kosovo's President Vjosa Osmani said in July that "the last few weeks" Trump had prevented further escalation in the region. She did not elaborate, and Serbian President Aleksandar Vucic denied that any escalation had been forthcoming. RUSSIA AND UKRAINE Trump, who said during the 2024 presidential campaign that he could solve the war in Ukraine in one day, has so far been unable to end the 3-1/2-year-old conflict that analysts say has left more than 1 million people dead or wounded. "I thought this was going to be one of the easier ones," Trump said on August 18. "It's actually one of the most difficult." Trump's views on how to best bring peace have swung from calling for a ceasefire to saying a deal could still be worked out while the fighting continued. He has threatened tariffs and sanctions against Putin, but then backed off them again after an Alaska summit where the two leaders appeared before backdrops that said "Pursuing Peace." Trump, who has sometimes criticized and sometimes supported Ukrainian President Volodymyr Zelenskiy, this week said the United States would help guarantee Ukraine's security in any deal. He subsequently said he had ruled out putting U.S. troops on the ground in Ukraine, but the U.S. might provide air support to help end the hostilities. Europeans have worried that Trump might push Zelenskiy to accept a proposal from Putin that included significant territorial concessions by Kyiv and limited security guarantees from Washington. Despite talk of a possible meeting between Putin and Zelenskiy, there was no let-up in the fighting. Russia this week launched 270 drones and 10 missiles in an overnight attack on Ukraine, the Ukrainian air force said, the largest this month. SOUTH KOREA AND NORTH KOREA Trump in June vowed to "get the conflict solved with North Korea." The U.S. president and North Korean leader Kim Jong Un held three summits during Trump's 2017-2021 first term and exchanged a number of letters that Trump called "beautiful," before the unprecedented diplomatic effort broke down over U.S. demands that Kim give up his nuclear weapons. North Korea has surged ahead with more and bigger ballistic missiles, expanded its nuclear weapons facilities, and gained new support from its neighbors in the years since. In his second term Trump has acknowledged that North Korea is a "nuclear power." The White House said in June that Trump would welcome communications again with Kim. It has not responded to reports that Trump's initial efforts at communication with the North Korean leader have been ignored. REUTERS
Straits Times
4 hours ago
- Straits Times
Lula, Macron discuss US tariffs, Mercosur-EU deal in phone call
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: Brazil's President Luiz Inacio Lula da Silva and French President Emmanuel Macron leave after visiting an exhibition by Brazilian artist Ernesto Neto Friday, June 6, 2025 at the Grand Palais museum in Paris, France. Michel Euler/Pool via REUTERS/File Photo SAO PAULO/PARIS - Brazilian President Luiz Inacio Lula da Silva spoke by phone on Wednesday with his French counterpart Emmanuel Macron and discussed U.S. tariffs and the Mercosur-European Union trade deal, Brazil's government said in a statement. Lula voiced his opposition to tariffs on Brazilian goods, and the two leaders committed to concluding negotiations on the long-awaited deal between the South American bloc and the EU by the end of the year, the statement said. Lula had previously said he was hopeful the two parties would be able to finalize the deal in the second half, when his country holds the rotating presidency of Mercosur, which also includes Argentina, Paraguay, and Uruguay. The trade pact was agreed in principle in December, but has faced pushback from countries such as France, which says the deal's terms would harm its agricultural sector. In a post on X, Macron said he reiterated to Lula his readiness for an "ambitious" EU-Mercosur agreement, "as long as it safeguards the interests of our French and European agriculture, and serves our respective economies." "We also spoke at length about economic issues, particularly tariffs, as well as our bilateral cooperation in the fields of defense and transport," Macron added. REUTERS
CNA
5 hours ago
- CNA
Oil prices rise on drop in US crude inventories as investors focus on Ukraine peace push
NEW YORK :Oil prices climbed about 1 per cent on Wednesday on a bigger-than-expected weekly drop in U.S. crude inventories as investors awaited the next steps in talks to end the Ukraine war, with sanctions on Russian crude remaining in place for now. Brent crude futures were up 56 cents, or 0.9 per cent, to $66.35 a barrel by 10:48 a.m. EDT (1448 GMT), while U.S. West Texas Intermediate (WTI) crude futures rose 66 cents, or 1.1 per cent, to $63.01. The U.S. Energy Information Administration said energy firms pulled 6.0 million barrels of crude from inventories during the week ended August 15. [EIA/S] That was bigger than the draw of 1.8 million barrels forecast by analysts in a Reuters poll and the decline of 2.4 million barrels that market sources said the American Petroleum Institute trade group cited in its figures on Tuesday. "We had a decent-sized crude drawdown. We saw a rebound in exports ... That and the strong refinery demand really makes this a bullish report," said John Kilduff, partner with Again Capital. On Tuesday, crude prices fell more than 1 per cent - with WTI closing at its lowest level since May 30 - on optimism that an agreement to end the Russia-Ukraine war seemed closer. U.S. President Donald Trump, however, conceded that Russian President Vladimir Putin might not want to make a deal. "Not so sure about the peace deal - will have to see if something moves forward over the coming days ... It seems oil prices are thrown down one day, followed by a rebound the next," said Giovanni Staunovo, an analyst at UBS. Trump said on Tuesday the U.S. might provide air support as part of a deal to end Russia's war in Ukraine. A day earlier, Trump said he was arranging a meeting between Putin and Ukrainian President Volodymyr Zelenskiy to be followed by a trilateral summit among the three presidents. Russia has not confirmed it will take part in talks with Zelenskiy. "The likelihood of a quick resolution to the conflict with Russia now seems unlikely," Daniel Hynes, senior commodity strategist at ANZ, said in a note on Wednesday.
