Over the last 20 years, economic growth has helped to lift almost a billion people out of extreme poverty. But 1 billion people are still extremely poor. 1.1 billion live without electricity and 2.5 billion people without access to sanitation. For them, growth has not been inclusive enough.
In addition, growth has come at the expense of the environment. While environmental degradation affects everyone, the poor are more vulnerable to violent weather, floods, and a changing climate.
Development experts, policymakers, and institutions like the World Bank have learned a major lesson: If we want to succeed in ending poverty, growth needs to be inclusive and sustainable.
At the inaugural ceremony in the Great Hall of the People, Chinese President Xi Jinping reaffirmed the new institution's mission, saying that "Our motivation [for setting up the bank] was mainly to meet the need for infrastructure development in Asia and also satisfy the wishes of all countries to deepen their co-operation."
Indeed, the AIIB is a major piece of China's regional infrastructure plan, which aims to address the huge needs for expanding rail, road and maritime transport links between China, central Asia, the Middle East and Europe. But the AIIB should also represent a huge opportunity for cooperation not only between countries in the region but also with other multilateral development banks.
Our experience working on transport mega-projects co-financed by several multilateral development banks (MDBs) already shows that this collaboration is much needed and critical for the success and viability of mega-projects. The most recent experience with the Quito Metro Line One Project, for example, shows that the co-financing banks – World Bank, Inter-American Development Bank, Andean Development Corporation and European Investment Bank – brought not only their financial muscle but also their rich and diverse global knowledge and experience. Incidentally, because of the Quito Metro project, all the MDBs involved in the project were dubbed as the “musketeers, ” precisely due to the high degree of collaboration and team work that is making this project a success.
- East Asia and Pacific
- Latin America & Caribbean
- Bus Rapid Transit
- BRT systems
- public transit
- public transport
- public transportation
- infrastructure financing
- infrastructure financing gap
- multilateral development banks
- MDB collaboration
- asian infrastructure investment bank. aiib
China has experienced substantial economic growth over three decades, with sustained annual GDP growth rates of 8%-10%. In order to maintain the growth, the government seeks to accelerate the process of industrialization and urbanization started in the 12th Five Year Plan (2011-2015).
China has made investment in transport infrastructure a centerpiece of its strategy, with investment in the rail sector specifically increasing, in recognition of lower cost, higher energy efficiency, and lower carbon emission of rail transport compared with road and air transport.
, which includes 16,000 kilometers of rail connecting 160 cities on the mainland. China’s Mid- and Long-term Railway Network Plan (2004-2020), adopted in 2004 and updated in 2008, contains an ambitious program of railway network development, with an aim of increasing the public railway network from 75,000 km to 120,000 km, among which 25,000 route-km will be fast passenger railway routes.
Procurement of high-speed railway projects in China is complex and transaction heavy. The technology is constantly changing due to innovation by designers and manufacturers, and the inclusion of multiple agencies and officials can increase the complexity.
Nearly eight in 10 adults in China now have a bank account, according to the 2014 Global Findex. This represents a 15 percentage point increase since 2011. According to the survey, the number of global unbanked has decreased from 2.5 billion to 2 billion in the past three years, and China’s progress has been a major driver of this change. In fact, the 2014 Findex found that of the world’s 500 million newly banked adults, more than one third (180 million) live in China.
Three positive trends emerge from this data.
1. Rural and poor people constitute many of the “newly banked” adults.
Sixty-six percent of the poorest quintile in China now have a formal account which represents an increase of 28 percentage points over the past three years. The rural population – which includes most of the poor in China - also saw a major increase of 20 percentage points with 74 percent of rural adults formally banked in 2014. Women have significantly benefitted from this growth and are now almost as financially included as men.
Source: World Bank Findex 2014
Guangxi is rich in natural resources and home to dozens of ethnic minorities. But economic development has been relatively slow there compared with coastal regions in China. The high-speed railway system will help monetize Guangxi’s natural resources by bringing in more business opportunities and tourists. In this sense, the line will not only benefit local people in terms of transportation but also help boost the local economy.
Looking behind the official Chinese unemployment statistics, over the last 30 years there have been large fluctuations in the number of people without work. This is despite the uniformity of the official statistics. By looking at household survey data and other sources, Shuaizhang Feng proposes a more realistic estimate. Moreover, he examines how different groups within China are suffering disproportionately from unemployment, which suggests courses of action for the country’s policy makers.
Procurement practitioners are using social media to exchange information and experiences. To allow for this exchange of knowledge and ideas, The China Public Integrity and Openness team of the Governance Global Practice (PIO-GGP) has established a WeChat Platform. The platform encourages the discussion of procurement ideas and strategies for all procurement practitioners, regardless of geography.
If you want to see the future of online education, lots of people will tell you to head out to Silicon Valley or New York City or Cambridge (either of them) or London -- or to some other ('highly developed') place that tends to be written about by the (English-speaking) press. Fair enough: You can find lots of cool stuff going on in such locations.
I tend to think that it can be even more interesting to talk with local groups and people exploring 'innovation at the edges', especially those who are trying to solve educational challenges in places outside of the 'highly developed industrialized economies' of North America and Europe, Australia and Japan. If you believe that some of the most interesting innovations emerge at the edges, talking with NGOs, start-ups and companies in places like Nairobi or Cape Town, Mumbai or Bangalore, Jakarta or Karachi, who are trying to address educational needs, contexts and challenges of a different nature and magnitude than one finds in, say, Germany or Canada or Korea, can be pretty eye-opening. Observing what is happening in 'developing countries' -- where, after all, most of the world lives -- can provide a quite different perspective on what the 'future of education' might look like. This is especially the case in places where people are not trying to port over educational applications, content and experiences developed e.g. for desktop PCs and laptops, but are rather pursuing a mobile first approach to the use of technologies in education.
If you want to get a glimpse of what the (or at least "a") future of online education might look like in much of the world, you might want to direct your gaze to consider what's happening in a place that combines attributes from, and shares challenges with, education systems in both 'highly developed' and 'less developed' countries, somewhere with a significant urban population as well as large populations in rural areas. A place, in other words, like ... China.