The idea of “Inclusive growth” and how to achieve it was talked about a lot in the days ahead of the 2014 World Bank-IMF Annual Meetings. Among the solutions on the table was a new initiative that could help unlock billions of dollars for infrastructure and improve the lives of many.
About 1.2 billion people live without electricity and 2.5 billion people don’t have toilets. Some 748 million people lack access to safe drinking water. The Global Infrastructure Facility (GIF) announced by World Bank Group President Jim Yong Kim this week hopes to lower these numbers by developing a pipeline of economically viable and sustainable infrastructure projects that can attract financing.
By Francis Ghesquiere and Olivier Mahul
This week, the Resilience Dialogue, bringing together representatives from developing countries, donor agencies and multilateral development banks, will focus on financing to build resilience to natural disasters.
There is growing recognition that resilience is critical to preserving hard won development gains. The share of development assistance supporting resilience has grown dramatically in recent years. New instruments have emerged in particular to help client countries deal with the economic shock of natural disasters. In this context, an important question is which financial instruments best serve the needs of vulnerable countries? Only by customizing instruments and tools to the unique circumstances of our clients, will we maximize development return on investments. Clearly, low-income countries with limited capacity may not be able to use financial instruments the same way middle-income countries can. Small island developing states subject to financial shocks where loss can exceed their annual GDP face vastly different challenges than large middle-income countries trying to smooth public expenditures over time or safeguard low-income populations against disasters.
International trade has a critical role to play in environmental protection and the effort to mitigate climate change. While it certainly isn’t always framed this way, it is important to realize that increased trade and economic growth are not necessarily incompatible with a cleaner environment and a healthier climate.
If we are going to move away from dirty fossil fuels and inefficient energy processes at a rate necessary to limit the likely devastating results of a warmer planet, then we need enabling policies in place—especially when it comes to trade policy.
That’s why, this week, a group of 14 World Trade Organization (WTO) Members are meeting to begin the second round of negotiations on the Environmental Goods Agreement (EGA)—an effort aimed at liberalizing trade in products that help make our world cleaner and greener.
The growth of large metropolitan areas around the world has been very recent and very rapid, particularly when measured against the duration of human beings’ existence as a species. For the first 95% of our time on earth, we built no settlements at all. Cities of a million people arose during only the last 1% of homo sapiens’ time on earth, and there are already 500 such cities in the world today.
If we have spent most of our existence as small wandering bands, does that mean we are ill-equipped to manage urban settlements of this vast size? The key to success in our current urban transformation may in fact be the same as the key to mankind’s earliest origins - our ability to cooperate.
By Yoichi Masuzoe, Governor of Tokyo
The IPCC’s Fifth Assessment Report firmly centered on the reality of human-driven climate change. If we don’t take immediate and tangible steps to reduce the consequences of these actions, we will face an environmental crisis that will have a major impact on mankind’s existence. Here in Tokyo, we are extremely concerned about this danger, as it poses a huge threat to our goal of becoming a sustainable and environmentally-friendly city.
In the year 2030, it is estimated that the number of people living in urban areas will exceed 60 percent of the world’s population, and measures at the city level are now crucial. The effects of climate change are already becoming apparent in a range of forms, and Tokyo is no exception. Tokyo has undertaken several measures to mitigate these effects, including launching the world’s first urban cap-and-trade program. In addition, Tokyo is implementing a number of pioneering initiatives, such as measures to counteract storm surges and floods, as well as major earthquakes, and advancing urban planning to realize a more resilient city.
Did you have a favorite teacher at school? What made that teacher so special? Teachers are the single most important resource we have to ensure that children learn. But the reality is that many kids across the world don’t get a good quality education.
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As Japan searches for ways to cope with a shrinking and aging workforce — along with the need for a more innovative workforce to help pull it out of decades of stagnation — it is becoming increasingly clear that business as usual is no longer an option for several reasons.
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After more than two hours stranded at a small town train station near Tokyo, Japan, with record snowfall and freezing temperatures outside our windows, the train driver addressed us for the third time – no new updates. “Our personnel are working to fix the problem,” the voice said. At that moment, an older man seated next to me leaned over and told me, “We have to do our part; the people working in the snow are trying their best to fix the system, so we can move. We should remain calm and wait - we cannot be part of the problem.” I was starting to understand why Japanese are so resilient.
This adventure began last February, following my participation in the launch of the new, $100 million joint program between Japan and the World Bank for disaster risk reduction. This program, implemented by the Global Facility for Disaster Reduction and Recovery (GFDRR), will benefit a large number of especially vulnerable countries around the world. As part of this new initiative, the World Bank also launched the Disaster Risk Management Tokyo Hub.
The launch for the Tokyo Hub was held at a high level symposium at the Japan Keidanren (Japan Business Federation) on February 3, which attracted more than 400 people and had substantial media coverage. The Senior Vice-Minister for Finance/Senior Vice-Minister for Reconstruction Jiro Aichi (a native of Sendai) spoke of Japan's commitment to disaster risk management (DRM) and thanked the World Bank for its strong support, before kicking off an intense program of inter-agency meetings to better utilize Japanese expertise in DRM practices.
My experience with Japanese solidarity and resilience, however, was best highlighted the day I was returning home. On February 9, as I was trying to get to Narita airport, more than 27 centimeters of snow fell on Tokyo and other areas of Japan, the heaviest of 40 years. Many buildings in the city collapsed, leaving at least 11 dead and more than 1,200 injured across the country.
Two days before the world observes International School Meals Day, I’m here sitting in the U.K. Houses of Parliament thinking about the unexpected evolution of school meals programs in recent years.