Business

30, April 2026

Middle East: US blockade crumbles as Iran turns to overland routes ⁰

As the US intensifies its inhuman sanctions and seeks to stifle Iran’s economy through an illegal naval blockade, Tehran has made strategic adjustments.

Pakistan formally activated a new transit corridor through Iran on Friday, announcing that the inaugural shipment including frozen meat bound for Tashkent, Uzbekistan had been dispatched via the China-Pakistan Economic Corridor (CPEC) and Iranian overland routes.

The country designated six transit routes, including multiple key corridors connecting ports and border points inside Pakistan, forming a wide network for overland trade into Iran in a bid to bypass the maritime trade routes in the Persian Gulf.

The order, which took effect on April 25, aims to ease the logjam at Karachi Port and Port Qasim, where more than 3,000 Iran-bound containers have been stuck due to the ongoing US naval blockade of Iranian ports.

By using the new corridor, officials estimate travel time to the Iranian border will drop from 18 hours to just three hours, which in turn will lower logistics costs for regional traders.

The designated routes create a land bridge between Pakistan’s deep-sea ports and the Iranian border, offering a lifeline for third-country goods that that would otherwise be vulnerable to US naval piracy at sea.

For China, the world’s largest oil importer and the destination for an estimated 90 percent of Iran’s crude exports before the current war, the opening of overland alternatives carries acute strategic significance.

With the US Navy enforcing an illegal cordon at the mouth of the Gulf of Oman since April 13, the maritime route that once carried one-fifth of global petroleum has been hijacked by armed naval raid, subjected to systematic plunder.

The blockade’s primary target has always been as much about Beijing as Tehran. China purchases roughly 13 to 15 percent of its crude oil imports from Iran, volumes that before the war exceeded 1.38 million barrels per day.

Iranian crude, often trans-shipped through Malaysia and other intermediaries, feeds China’s independent “teapot” refineries and helps underpin Beijing’s energy security.

The Trump administration has made no secret of its intent to sever this flow. On April 23, Washington imposed sanctions on Hengli Petrochemical’s Dalian refinery, one of China’s largest independent processors, with 400,000 barrels per day capacity, alongside roughly 40 shipping companies and tankers involved in Iranian oil transport.

In a draconian announcement, Treasury Secretary Scott Bessent warned that the US would constrict “the network of vessels, intermediaries and buyers Iran relies on to move its oil to global markets”.

Yet even as the American piracy tightens, the physical blockade is showing gaps. Satellite imagery and tracking data have revealed that several Iranian-flagged vessels under sanctions had sailed out of the Persian Gulf.

While tankers maneuver, Iran’s top diplomat has been building the political architecture for overland alternatives. Foreign Minister Abbas Araghchi embarked on a high-stakes tour on April 23, travelling twice to Pakistan for consultations and to coordinate the corridor activation before heading to Oman and finally to Russia.

In Islamabad, the discussions reportedly focused on key issues, the details of which are not specified. But the tangible outcome was the corridor itself.

Pakistan’s new transit routes, connecting Gwadar, Karachi and Port Qasim to the border crossings of Gabd and Taftan, provide Iran with immediate access to CPEC’s road and rail infrastructure.

Gwadar was built with Chinese loans and Chinese labor precisely as a hedge against maritime chokepoints. Now, with the Sea of Oman effectively closed, goods moving overland from Iran to Gwadar can connect to Chinese markets via the CPEC network, bypassing the US Navy entirely.

On April 27, Araghchi met with President Vladimir Putin in St Petersburg for talks lasting more than 90 minutes. The Iranian foreign minister described the discussions as covering “all issues, both in bilateral relations and regional issues, as well as the issue of war and aggression by the US and Zionist regimes”.

According to media reports, the Russian president said Moscow “will do what it can to support the interests of Iran and other regional countries and help bring peace to West Asia as soon as possible”.

He added that “not only Russia, but now the whole world is admiring the Iranian people for their resistance against America”.

While Russia and Iran signed framework agreements on the International North-South Transport Corridor years ago, the current crisis has given those plans new urgency.

Araghchi used the St Petersburg meeting to reaffirm that Tehran views its relationship with Moscow as a “strategic partnership” that will continue “with greater strength and breadth”.

For China, Russia’s role is complementary. The INSTC offers a route from Mumbai to Moscow via Iranian rail links, a path that, if fully operationalized, would give Chinese goods another overland alternative to maritime shipping.

More immediately, Russia’s diplomatic cover complicates any US effort to pressure Pakistan or other neighbors into closing their borders to Iranian trade.

The central question for Washington is whether maritime piracy can achieve what missiles and airstrikes failed to deliver. After the US-Israeli strikes on Iran on February 28, it became clear that bombing alone would not bring down the country to its knees.

The blockade represents a shift to economic suffocation aiming to squeeze Iran’s oil revenues. But the strategy carries costs. Global oil prices remain elevated near $120 per barrel, stoking inflationary pressures across the US, Europe and beyond.

More fundamentally, the blockade’s success depends on land routes remaining closed. Pakistan’s activation of the transit corridor, Russia’s support, and China’s quiet integration of Gwadar into its supply chain collectively suggest that Tehran is building an overland escape hatch that the US Navy cannot interdict under any circumstance.

“Whenever there are sanctions or blockades, there will also be workarounds, whether informal channels or other flexible arrangements,” Wang Yiwei, director of Renmin University’s Institute of International Affairs, told The Straits Times. “The key question we should be asking is: can this blockade actually be sustained?”

For now, the answer appears uncertain but with each new overland corridor, Iran is proving impossible to seal and China unlikely to be starved.

Source: Press TV

29, April 2026

Cameroon targets up to 800 billion CFA francs at November Investment Forum ⁰

Cameroon’s Investment Promotion Agency formally launched preparatory activities for the fifth edition of the Cameroon Investment Forum on April 28 in Yaoundé, setting a target of 500 billion to 800 billion CFA francs in investment commitments from the three-day event.

The forum, CIF 2026, is scheduled for November 18 to 20 at the Yaoundé Conference Centre. It arrives at a moment of accelerating economic realignment across the continent, with the African Continental Free Trade Area gaining momentum and regional value chains reshaping where capital flows, and Cameroon is explicitly positioning itself to capture a significant share of that investment traffic.

IPA Interim General Manager Boma Donatus presented the plans alongside Walid Farghal, Director General of the AIM Global Foundation, which is co-organising the forum under a Memorandum of Understanding signed in Abu Dhabi at the AIM Congress 2025.

Beyond the investment commitment goal, the forum aims to present 40 bankable projects, close or advance at least 15 deals currently in negotiation, produce sectoral roadmaps, and identify ten priority reforms to sharpen Cameroon’s competitiveness. Sectors in focus include agribusiness, energy, digital technology, logistics, infrastructure, and manufacturing.

A significant shift in this edition is the involvement of the AIM Global Foundation as co-organiser, a partnership the IPA says is designed to bring international rigour to an event previously organised primarily through domestic capacity.

“AIM can mobilise investors from almost every country where we cannot go ourselves. With a partner like this, we are certain that the appeal of our forum will be strengthened even further. AIM has expertise in developing several types of platforms that contribute to the signing of deals and strategic partnerships,” Boma Donatus said.

AIM Foundation operates across more than 180 countries, with a network of over 300,000 investors and institutions. Farghal, who travelled to Yaoundé to attend the launch and begin technical preparations with the IPA, was direct about what AIM brings to the table.

“Our focus is to develop deals for specific sectors especially infrastructure, logistics, new energy, manufacturing and agribusiness. We are working very closely with the IPA team to make sure that all features of the forum will be well positioned and promoted internationally to all AIM Global branches,” he said.

CIF 2026 is also being framed as a platform to promote ongoing government reforms, including the digitisation of administrative procedures and the modernisation of the investment framework, signalling to prospective investors that the operating environment is actively being improved.

The IPA has opened registration for all stakeholders, including businesses, investors, financial institutions, start-ups, project promoters, public administrations, and diaspora communities, at the forum’s website.

Source: Business in Cameroon

29, April 2026

Middle East war to spark biggest energy price surge in 4 years ⁰

Energy prices are projected to surge by 24% this year to their highest level since Russia’s invasion of Ukraine in 2022, as the war in the Middle East sends a severe shock through global commodity markets, according to the World Bank Group’s latest Commodity Markets Outlook. Overall commodity prices are forecast to rise 16% in 2026, driven by soaring energy and fertilizer prices and record-high prices for several key metals.

The shock will have serious implications for job creation and development, the analysis indicates.

Attacks on energy infrastructure and shipping disruptions in the Strait of Hormuz, which handles about 35% of global seaborne crude oil trade, have triggered the largest oil supply shock on record, with an initial reduction in global oil supply of about 10 million barrels per day. Even after moderating from their recent peak, Brent oil prices remained more than 50% higher in mid-April than they were at the start of the year. Brent oil is forecast to average $86 a barrel in 2026, up sharply from $69 a barrel in 2025. These forecasts assume that the most acute disruptions end in May and that shipping through the Strait of Hormuz gradually returns to pre-war levels by late 2026.

“The war is hitting the global economy in cumulative waves: first through higher energy prices, then higher food prices, and finally, higher inflation, which will push up interest rates and make debt even more expensive,” said Indermit Gill, the World Bank Group’s Chief Economist and Senior Vice President for Development Economics. “The poorest people, who spend the highest share of their income on food and fuels, will be hit the hardest, as will developing economies already struggling under heavy debt burdens. All of this is a reminder of a stark truth: war is development in reverse.”

Fertilizer prices are projected to increase by 31% in 2026, driven by a 60% jump in urea prices. Fertilizer affordability will fall to its worst level since 2022, eroding farmers’ incomes and threatening future crop yields. If the conflict proves more prolonged, these pressures on food supply and affordability could push up to 45 million more people into acute food insecurity this year, according to the World Food Programme.

Prices for base metals, including aluminum, copper, and tin, are also expected to reach all-time highs, reflecting strong demand related to industries including data centers, electric vehicles, and renewable energy. Precious metals continue to break price and volatility records, with average prices forecast to increase 42% in 2026, as geopolitical uncertainty fuels demand for safe-haven assets.

Rising commodity prices caused by these shocks will increase inflation and dampen growth worldwide. In developing economies, inflation is now projected to average 5.1% in 2026 under the baseline assumptions—a full percentage point higher than was expected before the war and an increase from 4.7% last year. Growth in developing economies will also deteriorate as higher prices for essentials weigh on incomes and exports from the Middle East face sharp curbs. Developing economies are expected to grow by 3.6% in 2026, a downward revision of 0.4 percentage point since January. Economies directly impacted by conflict will be hardest hit, and 70% of commodity importers and more than 60% of commodity exporters worldwide could see weaker growth than was projected in January.

Commodity prices could rise even higher if hostilities escalate or supply disruptions from the war last longer than projected. Brent oil prices could average as high as $115 a barrel in 2026 in a scenario where critical oil and gas facilities suffer more damage and export volumes are slow to recover. This in turn would have ripple effects on prices for fertilizer and alternative energy sources such as biofuels. Under this scenario, inflation in developing economies could rise to 5.8% this year, a level exceeded only in 2022 over the past decade.

“The succession of shocks over the decade has sharply reduced the fiscal space available to respond to the current historic energy supply crisis,” said Ayhan Kose, the World Bank’s Deputy Chief Economist and Director of the Prospects Group. “Governments must resist the temptation of broad, untargeted fiscal support measures that could distort markets and erode fiscal buffers. Instead, they should focus on rapid, temporary support targeted to the most vulnerable households.”

The report’s special focus finds that oil-price volatility during periods of rising geopolitical risk is roughly twice as high as during calmer periods, with a geopolitically driven 1% decline in oil production pushing prices up by an average of 11.5%. Critically, these effects spill over into other key commodity markets, with an impact roughly 50% larger than under normal market conditions. According to the report, a 10% oil price increase triggered by a geopolitical supply shock leads to natural gas price increases peaking at about 7% and fertilizer price increases peaking at over 5%. These peaks typically occur about a year after the initial oil price shock, with adverse consequences for food security and poverty reduction.

27, April 2026

Cameroon courts Brazilian investors with 10-Year incentives ⁰

Commerce Minister Luc Magloire Mbarga Atangana met a delegation of Brazilian business leaders in Yaounde on Friday, April 24, to discuss plans to establish operations in Cameroon and position the country as a production base for Central Africa.

The delegation, which included representatives of Brazilian groups Trilhas and Adilson, is exploring market entry as Cameroon seeks to attract industrial investment, reduce imports and expand exports. The meeting was attended by Cameroon’s Minister Counsellor at the Embassy in Brazil, Paulin Martial Tchenzette.

The visit comes as Cameroon intensifies South-South economic cooperation and seeks new industrial partnerships capable of reducing imports, increasing domestic production and expanding exports.

Speaking during the audience, Mbarga Atangana said Cameroon wanted partnerships that go beyond trade in finished goods and instead support domestic manufacturing capacity.

“Cameroon does not want to limit itself to the simple exchange of goods or services. Cameroon wants to develop its local capacity to increase production. We want to be able to produce massively in Cameroon rather than import what Brazil produces,” he said.

The minister said Cameroon offered institutional stability, freedom of enterprise and an investment incentives framework designed to support new businesses. He also highlighted the country’s youthful population, natural resources and varied geography as assets for industrial development.

He added that Cameroon accounts for nearly half of Central Africa’s gross domestic product, making it a key commercial gateway for companies targeting the sub-region.

“When you invest in Cameroon, it means you have invested in the whole of Central Africa. And if you produce in Cameroon, you will be able to sell across Africa,” he said.

Access to African and European Markets

Officials also used the meeting to underline the commercial reach available to investors manufacturing in Cameroon. The minister cited the African Continental Free Trade Area, a market of 1.3 billion consumers, as well as Economic Partnership Agreements with the European Union and the United Kingdom. He said those arrangements provide duty-free access for qualifying Cameroonian products into markets representing roughly 500 million additional consumers.

That positioning strengthens Cameroon’s pitch as a production hub where investors can manufacture locally while serving multiple export destinations.

IPA offers 10-year incentives to agri-investors

Earlier the same day, the delegation met officials of the Investment Promotion Agency, IPA, at its Yaounde headquarters to discuss opportunities in livestock, grain and aquaculture. Interim General Manager Boma Donatus said the IPA remained the mandatory first point of contact for foreign direct investment entering Cameroon and could guide investors through establishment procedures.

He outlined a convention signed with the agency granting incentives for up to ten years during both construction and operating phases.

“During this time, your tax rates will be reduced and what you are bringing in will be free from customs duties during the establishment phase,” Boma said.

He confirmed that livestock and grain are classified as strategic sectors under Cameroon’s investment code, giving investors access to targeted support measures.

Boma said Cameroon has 9.6 million hectares of arable land, with only 1.6 million hectares currently in use, pointing to significant room for agricultural expansion. He added that rice, maize and fish remain heavily imported products that could be produced domestically.

“Agriculture is one of the backbones of our economy, not only in growing crops but in transforming coffee, cocoa and all these products which you have in abundance in Cameroon,” he said.

For aquaculture investors, he also identified floating fish cage opportunities on the Wouri River.

More Brazilian firms may follow

The Brazilian delegation was led by Santa Maria General Director Daniella Prudente Vitorino, who said repeated visits to Cameroon had strengthened investor confidence and accelerated project plans.

“Since my first visit, I have received strong support from the agency, from airport reception to helping with formal procedures. That accompaniment gives us confidence and reassures us that we are welcome here,” Vitorino said.

“Each time I return, the projects become more concrete and more solid. After I go back to Brazil, many companies are waiting for my report, and it will be positive,” she added.

Vitorino said she first visited Cameroon in 2023 and has since carried out market and business studies with support from the IPA.

“Today I am here to open my company, my Brazilian branch in Ngaoundere. The official opening will take place on April 30,” she said.

She added that several additional Brazilian companies were already considering visits to Cameroon in November, with interest spanning technology, internet services and other sectors.

With Brazil recognized globally for agribusiness expertise, the partnership could also support Cameroon’s broader strategy of modernizing agriculture while strengthening its role as a supply hub for Central Africa.

Source: Business in Cameroon

23, April 2026

Yaoundé Forum opens door to Latin American Industrial Investment ⁰

Latin American investors are positioning Cameroon as their preferred entry point into the Central African market, with concrete business commitments already emerging from the first edition of the Economic Forum for Import Substitution with Latin American Countries (EFILAC 2026), which opened on April 2026 in Yaoundé.

The forum brings together policymakers, investors and business leaders from both regions to accelerate cooperation in agro-industry, pharmaceuticals and construction materials. Organised by the Ministry of External Relations and the Investment Promotion Agency (IPA), the initiative is designed to strengthen domestic productive capacity while diversifying trade partnerships beyond traditional markets.

The opening session set out the government’s objective of building concrete industrial partnerships capable of producing goods currently imported in large volumes. Officials highlighted technology transfer and shared expertise as central to this strategy, particularly drawing on Latin America’s experience in value addition and agricultural transformation.

According to the Secretary General at the Ministry of External Relations, Oumarou Chinmoun, EFILAC is in line with government policy: that of making Cameroon a land of productive opportunities and essential industrial growth in the heart of Africa.

“We share with nations such as Brazil, Argentina, Uruguay, Colombia and Chile not only similar climatic and agricultural challenges, but above all proven expertise in structural transformation and the development of agricultural value chains,” he said.

Gateway to a 60-million-consumer market

Data presented during the forum indicates that trade between Africa and Latin America currently accounts for less than 2% of global exchanges, pointing to a significant untapped growth margin. Cameroon continues to import agricultural inputs, processed food products and industrial equipment from the region, with estimates placing these flows at around CFA1.5 trillion annually.

Officials said reversing this trend through local production could unlock new industrial capacity while reducing external dependence. The API outlined its role in structuring investment opportunities, positioning itself as a facilitator for Latin American firms seeking entry into Cameroon and the wider Central African market.

“The opportunities for investment are numerous and are driven by growing demand in agro-industry, construction materials, agricultural equipment, industrial packaging, logistics and production technologies,” said Boma Donatus, an API official. “The Cameroon market represents 28 million consumers within a CEMAC space of 60 million inhabitants, with access to more than 12 billion consumers across African markets,” he added.

Parallel to the policy discussions, the forum hosted a first round of business-to-business meetings between Cameroonian and Latin American companies. These sessions are aimed at establishing joint ventures and long-term industrial partnerships, particularly in sectors where import substitution is considered immediately viable.

Latin American investors attending the forum signaled strong interest in Cameroon’s geographic position and resource base. Daniella Prudente Vitorino, Head of Delegation of Latin American investors, said the country’s market fundamentals had influenced investment decisions.

“I came in an economic mission like this and my heart decided to stay here. When I got back in Brazil, my team began to start marketing studies,” she said. “This country has many similarities with Brazil in terms of climate, rainfall levels and food customs, and that made us decide to stay here,” she added.

She also pointed to Cameroon’s role as a regional gateway. “Let’s not forget one important thing, the strategic location of Cameroon for the entire African market. Cameroon’s strategic location is very important to us,” she said.

Sector-specific investments are already emerging. In the livestock and agriculture value chain, investors have identified the Adamawa Region as a priority zone, with new facilities and training programs underway, including initiatives in artificial insemination to improve productivity.

Beyond agriculture, aquaculture has also been identified as a growth area. Helio F. Martins, a Brazilian business leader, highlighted the potential for adapting Latin American technologies to local conditions.

“Cameroon is a land of opportunities, especially in aquaculture. We have a technology within the company that is very well adapted to Cameroon, which has many rivers where we can produce fish,” he said. “We have already imported equipment and created a company with a local partner. This forum will allow us to boost our partnership with Cameroon,” he added.

The forum’s first day concluded with networking events, including a business and cultural gala aimed at strengthening ties between participants. Organizers said the quality of exchanges and level of participation indicate strong prospects for translating discussions into tangible investments.

Source: Business in Cameroon

20, April 2026

Biya regime prepares a CFA25 billion financing to restore Hilton Hotel ⁰

Cameroon’s state-owned hotel operator announced a major financing plan to overhaul one of its flagship assets in Yaoundé.

The Cameroon Hotels Corporation (CHC) has selected a consortium made up of Attijari Securities Central Africa (ASCA), AFG Capital, and Financia Capital to structure the fundraising for the renovation of the Hilton Yaoundé and its adjoining shopping center, according to an official statement.

The mandate, awarded after a restricted tender process, covers the arrangement of a financing operation whose total amount has not been formally disclosed. However, the financial terms offer a clear indication of its scale. The consortium’s fee has been set at 1% of the funds raised, including taxes, or CFA250 million, pointing to a target of about CFA25 billion. Sources close to the Ministry of Finance estimate the full renovation cost at around CFA30 billion.

According to the statement signed by CHC’s acting CEO, the ASCA–AFG Capital–Financia Capital bid ranked first in the process, with a technical score of 89.5 out of 100, a perfect financial score of 50 out of 50, and an overall score of 91.6.

The two competing consortia were eliminated during the selection process. EDC Investment Corporation–Forvis Mazars Cameroon failed to meet the minimum technical threshold of 80%, while Horus Investment Capital–CCA Bourse–EB Partners was disqualified due to a non-compliant bid bond.

CHC also noted that, during negotiations, the parties agreed to remove reimbursable expenses and other ancillary costs initially included in the financial proposal. The arrangers have been given a six-month mandate.

Beyond the procurement process, the operation carries strategic weight for the public company. The fundraising is intended to support a comprehensive modernization of the Hilton Yaoundé, a landmark property in Cameroon’s hospitality sector, which CHC aims to bring back to international five-star standards.

The move comes as competition intensifies in Yaoundé’s business travel, conference, and institutional events market. The renovation is meant to strengthen the hotel’s position against a growing private sector offering and rising expectations around service quality, infrastructure, and customer experience.

For CHC, the project is part of a broader effort to reshape the public hotel portfolio. Given the financial terms negotiated with the selected consortium, the group appears to be preparing one of the largest transactions seen in the segment in recent years in Cameroon.

Source: Business in Cameroon

19, April 2026

Douala Port turns to PPP to rebuild its regional trade hub at Boscam ⁰

The Port of Douala has signed a public-private partnership (PPP) with Douala Terre-Port to rehabilitate and modernize the regional terminal at the Boscam quay.

The agreement, concluded on April 10, 2026, involves a total investment of CFA126.3 billion, fully financed by the private partner under a 30-year concession.

According to the port authority, the project includes the rehabilitation of the existing site, the development of a new 20-hectare platform, and, in an optional phase, the construction of a 700-meter quay. The initiative is also expected to generate around 500 direct and indirect jobs.

The Port of Douala estimates a projected return of 12.2% over the concession period, supporting the financial viability of the project.

Located on the left bank of the Wouri River, the Boscam quay was historically dedicated to sub-regional traffic. However, it gradually lost competitiveness from the 1990s due to silting and the accumulation of abandoned vessels. Cleanup operations in recent years have helped restore access to the site.

Through this project, the port aims to revive regional trade by promoting cabotage for goods and passengers between Douala and ports across the CEMAC region.

The initiative is also aligned with the African Continental Free Trade Area (AfCFTA), with the objective of facilitating intra-African trade.

In this context, the port plans to introduce simplified procedures for cargo and vessel clearance once the works are completed, in order to reduce operating costs and processing times.

The modernization of the Boscam quay is part of the port’s broader development master plan through 2050, which aims to strengthen Douala’s competitiveness in regional trade.

Source: Business in Cameroon

16, April 2026

World Bank Group launches initiative to improve water security for 1 billion people ⁰

The World Bank Group, in partnership with multilateral development banks, development finance institutions and key partners, today launched Water Forward, a global platform to help improve water security for 1 billion people by 2030. The platform will align policy reforms, financing, and partnerships to expand reliable water services and strengthen systems against droughts and floods—essential conditions for job creation.

Water underpins health, food systems, energy, and an estimated 1.7 billion jobs worldwide; yet 4 billion people experience water scarcity. In many countries, unclear policies, weak regulations, and financially unsustainable utilities have slowed progress and deterred investment in the sector. Water Forward aims to address these challenges by helping developing countries build stronger, more reliable water systems that can unlock productivity, support livelihoods, and enable private investment. The initiative will support reforms to strengthen institutions, improve financial performance, and develop investment-ready projects.

“Water is foundational to how economies function. When water systems work, farmers produce, businesses operate, and cities attract investment. Our task now is to align reform, financing, and partnerships to deliver reliable water services at scale,” said Ajay Banga, President of the World Bank Group.

At the core of the initiative are country-led water compacts, through which governments define reform priorities, commit to strengthening institutions, and establish investment pathways for their water sectors. Today, 14 countries announced their national water compact under the Water Forward initiative, and many more are underway.

Multilateral development banks, governments, philanthropies, and private sector actors are aligning financing and expertise to speed investment and implementation of projects that will boost reliable access to water. The World Bank Group is committed to delivering water security to 400 million by 2030. With its additional partner commitments, Water Forward expects to reach more than 1 billion people.

With more than 1.2 billion young people entering the workforce in developing countries over the next 10 to 15 years, reliable water will be critical. Strong water systems are foundational to healthy economies that can attract private investment and create jobs.

Multilateral development banks and development finance institutions that have committed to specific beneficiary targets for 2030 include the:

Asian Development Bank,

Asian Infrastructure Investment Bank,

Council of Europe Development Bank,

European Bank for Reconstruction and Development,

European Investment Bank,

Inter-American Development Bank,

Islamic Development Bank

New Development Bank,

OPEC Fund for Intranational Development; and the

International Fund for Agricultural Development.

14, April 2026

Spanish PM urges stronger China role amid shifting global order, US’s unreliability ⁰

Spanish Prime Minister Pedro Sanchez has called on China to take a more prominent role in global affairs, arguing that a stable international order would not be possible without Beijing’s involvement.

Sanchez, on his fourth visit to China in four years, said on Monday that the world was moving towards a multipolar structure and highlighted growing concerns in Europe over the reliability of the United States.

He also expressed interest in strengthening economic ties with China after remarks made by US President Donald Trump about a potential rupture in trade with Spain.

The Spanish premier, who was in Beijing at the invitation of Chinese counterpart Li Qiang, pointed to the importance of expanding “all-round exchanges and cooperation between European nations and China.”

He also stated that Spain would continue to play a key role in advancing relations between Brussels and Beijing.

The visit came amid Madrid’s continued unequivocal criticism of Washington’s policies, including the latter’s unprovoked aggression targeting Iran that was launched on February 28 alongside the Israeli regime.

The Spanish government has closed the country’s airspace to flights contributing to the aggression, prompting strong verbal backlash on the part of American officials.

The country has also minced no words in denouncing the US’s outright support for the Israeli regime, despite Tel Aviv’s rampant atrocities throughout the West Asia region.

14, April 2026

Strait of Hormuz: Joint statement by the heads of the International Energy Agency, International Monetary Fund, and World Bank Group ⁰

The Heads of the International Energy Agency, International Monetary Fund, and World Bank Group met today as part of the coordination group they established in early April to maximize their institutions’ response to the energy and economic impacts of the war in the Middle East. At the end of their meeting, they issued the following statement:

“As we noted earlier this month, the impact of the war is substantial, global, and highly asymmetric, disproportionately affecting energy importers, in particular low-income countries. The shock has led to higher oil, gas and fertilizer prices, triggering concerns about food security and job losses as well. Some oil and gas producers in the Middle East have also seen a dramatic loss of export revenue.

The situation remains very uncertain, and shipping through the Strait of Hormuz is yet to normalize. Even after a resumption of regular shipping flows through the Strait, it will take time for global supplies of key commodities to move back towards their pre-conflict levels—and fuel and fertilizer prices may remain high for a prolonged period given the damage to infrastructure. Due to supply disruptions, shortages of key inputs are likely to have implications for energy, food, and other industries. The war has also forcibly displaced people, impacted jobs, and reduced travel and tourism, which may take time to reverse.

Today, we shared our latest assessments, ahead of the release this Tuesday, April 14, of the IEA’s monthly Oil Market Report and IMF’s World Economic Outlook. We also discussed the situations of the countries most affected by the shock as well as the responses by our institutions. Our teams are working closely, including at country level, to leverage our respective expertise and help countries through tailored policy advice and, in the case of the IMF and World Bank, financial support where needed.

We will continue to monitor closely and assess the impact of the war on energy markets, the global economy and individual countries, and to coordinate our response and support to our member countries—working with, and drawing on, other international organizations’ expertise as needed to lay the foundations for a resilient recovery that delivers stability, growth and jobs.”