…As World Bank earmarks $1b for energy in developing nations***

China is all set to unveil the world’s longest sea bridge – connecting the three cities of Hong Kong, Zhuhai and Macau – next month. Final preparations are reported to be completed and the bridge would open for traffic once the formal inauguration is held.

The 55-kilometre sea bridge has a total of six lanes and has four tunnels and four artificial islands. It is reported that the steel used in the construction could have been used to make 60 structures identical to the Eiffel Tower in Paris.

Construction began in 2011 and was expected to be completed within five years. However, a number of delays due to accidents, permissions and allegations of corruption hindered progress. Nonetheless, the nearly US 2 billion dollar-bridge is now set to open for vehicular traffic and would cut travel time significantly between the three cities.

It is estimated that over 40,000 vehicles would make use of the sea bridge once it becomes operational and that there would be a shuttle bus service as well – running in intervals of 10 minutes.

With the bridge, China is hoping to bring the three cities closer to the mainland which could have a number of socio-economic and political benefits for Beijing.

In the meantime, the World Bank Group is committing $1 billion to a new global programme aimed at accelerating investments in battery storage for energy systems in developing and middle-income countries.

The project is to help the beneficiaries ramp up their use of renewable sources, especially wind and solar power as well as improve energy security, grid stability and expand access to electricity.

Its President, Jim Yong Kim, who spoke yesterday in New York, hinted that the group would also mobilise another $4 billion in concessional climate financing and public and private investments.

Zee with additional report from Guardian NG