In the sustainable development goals (SDGs) era, the imperative to finance the development agenda from domestic resources has been amplified. Irrespective of a government’s best intentions to achieve universal health coverage (UHC), without adequate financing from its national budget, minimal progress will be made. This is in stark contrast to the Millennium Development Goals (MDGs) era (from 2000- 2015) where emphasis was on effective development cooperation (EDC). And when it comes to achieving UHC, financing is actually only part of the role ministries of finance can play. Indeed, in a recent Lancet article, H.E Taro Aso, Deputy Prime Minister and Finance Minister of Japan, pointed out that the finance ministry’s “crucial role in Japan’s UHC achievement has not been adequately highlighted”.
We're delighted to release the 2017 Global Findex, the third round of the world's most detailed dataset of how adults save, borrow, make payments, and manage risk.
Drawing on surveys with more than 150,000 adults in more than 140 economies worldwide, the latest Global Findex features new data on fintech transactions made through mobile phones and the internet. It also provides time series updates for benchmark financial inclusion indicators.
The data shows that financial inclusion is on the rise globally, with 1.2 billion adults opening accounts since 2011, including 515 million in the last three years alone. That means 69 percent of adults globally have an account, up from 62 percent in 2014 and 51 percent in 2011. We see that Fintech, or financial technology, plays a progressively greater role in countries like China, where 50% of account owners use a mobile phone to make a transaction from their account. Compared to 2014, twice as many adults in Brazil and Kenya are paying utility bills digitally.
The existing evidence from both cross-country and country case studies on the determinants of foreign bank entry and on the impact of foreign banks on host economies suggests the brick-and-mortar operations of international banks have important implications for competition and efficiency of the local financial sectors and for financial stability and access to credit in the host country (World Bank, 2018). The Global Financial Development Report 2017/2018: Bankers without Borders contributes to the policy dialogue on international banks by summarizing what has been learned so far about: i) the risks and opportunities posed by foreign banks when entering developing countries and ii) under what circumstances host economies can reap most benefits from the entry of international banks.
The communities of Kibaale East, Kamwenge, where I work and stay, lack informal and formal support structures that help girls, survivors and young mothers to cope with gender-based violence (GBV).
Also available in Español
The 8th World Water Forum was held in Brazil a few days ago. What's ironic is that the more than nine thousand of us attending this Forum were discussing water-related issues in a city of three million grappling with a severe water shortage. After checking in at my hotel, the first thing I found in my room was a notice from the Government informing guests of this crisis and recommending ways to reduce water use. We recently learned of the predicament in Cape Town, South Africa, which was on the verge of running out of this essential liquid—a plight facing many cities around the world.
Labor-intensive public works (LIPW) programs are a popular policy intended to provide temporary employment opportunities to vulnerable populations through work-intensive projects, such as the development and maintenance of local infrastructure, that do not require special skills. For a review of LIPW programs (design, evidence and implementation), see Subbarao et al. here. In fragile states, LIPW programs are also presumed to contribute to social and political stability. The developed infrastructure allows for the implementation of other development and peacekeeping activities, while employment opportunities may help prevent at-risk youth from being recruited by armed groups. Despite their popularity and presumed impact on beneficiaries, the evidence base of LIPW programs has been surprisingly weak.
The Development Impact Evaluation (DIME) unit, in collaboration with the Fragility, Conflict and Violence Cross Cutting Solutions Area (FCV-CSSA) and the Social Protection and Labor Global Practice (SPL-GP), is carrying out a multi-country set of 7 Randomized Control Trials (RCTs) of LIPW programs targeting around 40,000 households across 5 countries: Comoros, the Democratic Republic of Congo, Côte d’Ivoire, Egypt, and Tunisia. This initiative is part of a broader research program on Fragility, Conflict and Violence (FCV) — a portfolio of 35 impact evaluations in over 25 countries that focuses on 5 key priority areas: (i) jobs for the poor and at-risk youth; (ii) public sector governance/civil service reforms; (ii) political economy of post-conflict reconstruction; (iv) gender-based violence; and (v) urban crime and violence.
If you are ill and you don’t know about it, it is a bad thing. If you know about it and you don’t do anything about it, it is a tragedy. When it comes to education in developing countries, we know we are ill and yet we are doing little about it.
Each year the World Bank Group and the International Monetary Fund Spring Meetings provide an opportunity for country delegates, global thought leaders and development experts to engage in discussions on key development issues, including education. As in previous years, we invite you to connect, engage and watch education-related events, to gain first-hand knowledge of the latest thinking and developments in the field. By following our online channels, you will be able to directly participate in the various conversations, and virtually interact with our speakers and experts who will answer your questions.
From April 16th through April 22nd, the World Bank Education Team will be live tweeting from the Spring Meetings via our Twitter channel WBG_Education. Please follow us, like and interact with our content, and encourage others to follow our social media coverage by retweeting us!
- In the Atlantic – are Jupyter notebooks going to replace pdfs for scientific papers? Konrad Hinsen discusses, noting that it seems the future isn’t here yet.
- On VoxDev, Daniel Bennett discusses how traditional medicine beliefs can hamper hygiene campaigns, and the results of an experiment which used microscopes to actually show people the microbes in standing water and buffalo dung – this led to improvements in hygiene and child health, but only for those without strong beliefs in traditional medicine in Pakistan.
- From Ifpri, a nice couple of summary notes by Berber Kramer and co-authors on testing picture-based crop insurance – where farmers take regular pictures of their crops throughout the growing cycle, and then these are used to assess damage: there is one note on willingness to pay, adverse selection and moral hazard, and one on the practical feasibility of the approach.
- development impact links
But can we go further, making disasters even ‘duller’ by also releasing finance before a disaster strikes?
UN Under Secretary General for Humanitarian Affairs, Mark Lowcock, recently set out a compelling vision for how the humanitarian system can be improved. He argued that “disasters are predictable… we need to move from today’s approach where we watch disaster and tragedy build, gradually decide to respond, and then mobilise money and organisations to help, to an anticipatory approach, where we plan in advance for the next crises, putting the response plans and money for them before they arrive, and releasing the money and mobilising the response agencies as soon as they are needed…”