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Dominican Republic

A better way to build -- promoting sustainable infrastructure

Robert Montgomery's picture

As countries prepare to meet at the G20 summit in Turkey next week, global growth and infrastructure needs will be at the top of decision makers’ concerns. And rightly so: Infrastructure – roads, bridges, ports, power plants, water supply – drive economic growth in many countries by facilitating manufacturing, services and trade. But it’s not just a matter of building more. To achieve good development on a planet stressed by climate change and diminishing natural resources, infrastructure needs to be sustainable.

Covering more ground: 18 countries and the work to conserve forests

Ellysar Baroudy's picture
Participants at the 13th FCPF Carbon Fund meeting in Brussels, Belgium
Credits: FCPF Carbon Fund

With all eyes on Paris climate meetings in December, we are at a critical moment to show that our efforts to reduce emissions from deforestation and forest degradation are moving from concept to reality.

The World Bank's Forest Carbon Partnership Facility, a 47-country collaboration, focuses on reducing emissions from deforestation and degradation, also known as REDD+; the Carbon Fund supports countries that have made progress on REDD+ readiness through performance-based payments for emission reductions.

What Can the Asian Tigers and Latin Pumas Learn From Each Other?

Danny Leipziger's picture

The global landscape these days is not a pretty one: collapsing commodity prices, weak demand in the OECD economies and a pronounced slowdown in many emerging markets, unpredictable capital flows affecting exchange rates, and a noticeable slump in world trade. This is clearly not a good time to be a Minister of Finance!

This is the panorama that surrounds the IMF World Bank Annual Meetings in Lima, October 8-10. The weak global picture is heavy on diagnostics of what is troubling many developing countries, but less robust on the side of policy solutions. In Lima, this will be one of the key topics of discussion during a high-level debate on “Balancing sustainable growth and social equity”.

On rhino horns, banking nature and climate hope

Muthukumara Mani's picture
It is not often that as an economist, you find yourself surrounded by creative artists! I found myself in such a situation recently when I was invited to be a panelist for the Dominican Republic Environmental Film Festival. It presented me with an opportunity to witness firsthand how the issues of environment and climate change are perceived and interpreted in the community of artists and filmmakers.

The festival criteria read that “by screening a diverse selection of high quality films that deal with pressing issues, and by organizing discussion panels with environmental experts, filmmakers and other stakeholders, the Festival seeks to promote dialogue and inspire Dominican viewers to adopt practices that will ensure the country’s environmental sustainability and health.” For a small Caribbean nation to take these issues seriously and attempt to educate its people using cinema was indeed commendable.
Gambling on Extinction, directed by Jakob Kneser

What I witnessed on landing in Santo Domingo was truly remarkable. There were filmmakers from all over the world, but also organizers of similar festivals from other countries. That is when I realized that environmental film festivals have now become a global movement with the intention of informing, influencing, and galvanizing people on critical environmental issues. While the first “environmental” films were produced back in the 1960s when the global environmental movement was in its infancy, there are now 30 or more international environmental film festivals held all over the world attracting hundreds of films and thousands of people. They cover issues such as clean water, sanitation, forests, biodiversity, sustainable consumption and climate change. Even more remarkable, most of these short films or documentaries are often produced on a shoe-string budget, but with an enormous degree of passion and perseverance to get the message across.  What really impressed me was that although they dealt with critical issues facing us today, in most cases the messages were of hope and optimism!

I want to share with you some of the films that I watched:

Part of the #Youthbiz movement? Share your story!

Valerie Lorena's picture

Also available in: Français | العربية

A boat trip from Port Elizabeth to Kingstown, in the Caribbean country of Saint Vincent and the Grenadines, is a one-hour trip that locals take several times a day. It was during one of these journeys that the boat of Kamara Jerome, a young Vincentian fisherman, ran out of gas six miles from Bequia City in what is termed locally as the "Bequia Channel." While waiting for help with strong wind gusts and the sun on his head, the idea of developing a boat that would run with wind and solar energy was born. Soon after, the idea became a prototype; a boat using green technology was on the water making 20-year-old Jerome a winner of international innovation competitions and a role model to other Caribbean youth. 
In Mexico, young engineer Daniel Gomez runs a multimillion bio-diesel company originally conceived as a research project for his high school chemistry class. Gomez and his partners - Guillermo Colunga, Antonio Lopez, and Mauricio Pareja - founded SOLBEN (Solutions in bio-energy in Spanish) in their early twenties. 
Although Daniel and Kamara have different educational backgrounds, they do share one important skill, the ability to identify a problem, develop an innovative solution, and take it to the market. In other words, being an entrepreneur, an alternative to be economically active, that seems to work and not only for a few.

Bridging the Gap in LAC Infrastructure

Karin Erika Kemper's picture

The other day I had the opportunity to participate in the annual CAF conference on Infrastructure, this time held in Mexico City. The conference featured CAF's new IDEAL report on the state of infrastructure in Latin America and the conference, attended by many decision and opinion makers from across LAC, was organized around findings of the report.
I had a few takeaways from the discussions, notably that (1) there is convergence on a range of key issues and (2) there are some important Bank messages that are unique:

Actions speak louder than words: Opportunities abound for forests in combating climate change

Ellysar Baroudy's picture
Franka Braun/World Bank

Over the past several weeks, we have made headway in our efforts to reduce deforestation and promote sustainable land use as part of a broader World Bank Group approach to combat climate change. Partnering with the Forest Carbon Partnership Facility (FCPF), the Democratic Republic of Congo has taken a major step by assessing its readiness for a large-scale initiative in which developing forested countries keep their forests standing and developed countries pay for the carbon that is not released into the atmosphere. Likewise, other countries in the 47-country FCPF partnership are making strides in their efforts to prepare for programs that mitigate greenhouse gas emission and support sustainable forest landscapes.

This approach is also known as REDD+, or reducing emissions from deforestation and forest degradation. Active REDD+ programs can help reduce the 20 percent of carbon emissions that come from forest loss and simultaneously provide support to the 60 million people, including indigenous communities, who are wholly dependent on forests.

Oil is Well that Ends Well

Francisco G. Carneiro's picture

Why are petroleum prices dropping so fast anyway? Have they reached rock bottom yet? Should we be worried if they continue to fall? These are questions that probably every finance minister in either oil-rich or oil importing nations is trying to answer.  

Who speaks for public media in Latin America?

Silvio Waisbord's picture

Latin America has a long, fractured, and ultimately failed history of public media. So-called “public media” typically functioned as government-controlled institutions for spurious goals - propaganda and clientelism - rather than quality content in the service of multiple public interests. 

Supporting Entrepreneurs: Breaking Down Barriers for Access to Finance

Irene Arias's picture

​Small and medium sized companies are the backbone of Latin America’s economy. They represent more than 90 percent of all enterprises in the region, generating over half of all jobs and a quarter of the region’s gross domestic product. They are essential to economic growth, yet their success is often blocked by one key obstacle: lack of credit. Nearly a third of companies in the region identified lack of credit as a major constraint, according to recent surveys.

Take the case of Sonia Arias, who owns a small textile business in Medellin, Colombia. When she opened her business seven years ago, she took an informal loan that left her with sky-high interest rates and little cash to reinvest. “When I was paying these loans,” she said, “it felt like we were being hit with a stick.”