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#Youthbiz: Thousands of Young Entrepreneurs Discuss Innovation, Growth and Jobs Creation with World Economic Leaders

Luis Viguria's picture

Young entrepreneurs from Latin America

Thousands of young entrepreneurs from 43 countries across the world took part in a series of online and onsite dialogues as part of the Road to Lima 2015 activities. The inclusion of youth in such an important process was possible thanks to the World Bank Group and the Young Americas Business Trust (YABT).

Can we shift waste to value through 3D printing in Tanzania?

Cecilia Paradi-Guilford's picture
A waste collection site in Dar es Salaam, 
Tanzania. Photo: Cecilia Paradi-Guilford
Plastic waste, in particular PET, which is typically found in soda bottles, is becoming abundant in African cities. In Dar es Salaam, one of the most rapidly urbanizing cities in Africa, BORDA found that about 400 tons of plastic waste per day remains uncollected or unrecycled.  Although about 98 percent of the solid waste generated per day can be recycled or composted, 90 percent is disposed in dumpsites.
At the same time, the recycling industry has started to grow because of new initiatives, community organizations and private companies. There are a few organizations that repurpose waste into arts and crafts, tools or apply it as a source of energy – such as WasteDar. However, the majority collect or purchase plastic waste from collectors, primarily with a view to export, rather than recycle or reuse locally.
Socially and environmentally, waste management is one of the biggest challenges for an increasingly urbanized world. Waste pickers can earn as little as US$1-2 a day in dangerous conditions with little opportunity for advancement. They make up some of the most disadvantaged communities living in deep poverty.

Through a new market for sorted waste materials, these communities may access higher income generation opportunities in a sustainable manner. This presents an opportunity to explore turning this waste into value more close to home.

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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:

PPPs in the Caribbean: Filling the gap

Brian Samuel's picture
Prior to about 2005, for many tourists their Jamaican vacation was ruined at the last minute, by the hot and overcrowded conditions inside Montego Bay’s Sangster International Airport. Fast forward 10 years, and waiting for a flight at Sangster is an altogether more pleasant experience. The air conditioning actually works, and the whole environment is infinitely less stress-inducing than before.
A new waiting area at Montego Bay's
Sangster International Airport.
Photo: Milton Correa/flickr

What’s the difference? The private sector.

In 2003, the Government of Jamaica finally succeeded in doing what it had been trying to do for a decade: privatize Montego Bay Airport. A private sector consortium, led by Vancouver International Airport, quickly invested millions of dollars in expanding the terminal building, doubling the airport’s capacity and opening dozens of new retail spaces. Since then, the consortium has invested more than US$200 million on expansions and improvements to the airport, all of which has been entirely off the government’s balance sheet.

Jamaica has gone on to implement several more public-private partnerships (PPPs), with mixed results. The second phase of its ambitious highway construction program — the Mount Rosser Bypass — was recently opened, cutting a swath through miles of virgin territory. However, early indications are that traffic levels are not living up to expectations, probably due to the Bypass’ steep eight percent gradient, which is beyond the means of most Jamaican trucks and buses.

In the energy sector, Jamaica is completing three PPPs with a total of 115 megawatts of renewable energy (RE) capacity, putting the country on track to meet its RE target of 12.5 percent of generating capacity by the end of 2015. Lastly, the government is currently completing formalities for the sale of Kingston Container Terminal (KCT) to a consortium of CMA/CGM and China Merchant Marine, a transaction that is expected to result in a US$600 million capital expenditure program by the port’s new owners.

Preparing for disasters saves lives and money

Jim Yong Kim's picture
Tropical Cyclone Pam, a Category 5 storm, ripped through the island nation of Vanuatu on March 13 and 14. © UNICEF
Tropical Cyclone Pam hit the island nation of Vanuatu on March 13-14. © UNICEF

SENDAI, Japan Without better preparation for disasters – whether they be earthquakes and tidal waves, extreme weather events, or future pandemics – we put lives and economies at risk. We also have no chance to be the first generation in human history that can end extreme poverty.
Just a few days ago, the world was again reminded of our vulnerability to disasters, after Tropical Cyclone Pam, one of the most powerful storms ever to make landfall, devastated the islands of Vanuatu. Some reports found that as much as 90 percent of the housing in Port Vila was badly damaged.  When the cyclone hit, I was in Sendai for the UN World Conference on Disaster Risk Reduction, which took place only a few days after the fourth anniversary of the Great East Japan Earthquake of 2011. That quake and subsequent tsunami tragically resulted in more than 15,000 deaths and caused an estimated $300 billion in damage.

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.  

“What Haiti taught us all”

Priscilla M. Phelps's picture

The January 2010 Haiti earthquake killed many thousands and caused damage and losses estimated at US$7.8 billion, more than US$3 billion of which was in the housing sector alone.

What might surprise those who have heard only anecdotal accounts of the shortcomings of the Haiti response is that some exemplary practices that emerged from that event have already been redeployed in other disaster responses.

For Haiti, New Data Can Help Address Learning Gaps

Melissa Adelman's picture

With 95 percent of its population of 10 million under age 65, Haiti’s most abundant asset is its human capital. Given this large share of children, youth and working-age adults, education is both an ongoing challenge and policy priority for the Government of Haiti. Yet decision-making on education has been hampered by a lack of reliable data, with even basic information such as enrollment rates being difficult to estimate reliably.