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Better forecast, better preparedness – investing in improved weather services

Adeline Choy's picture

Sun or rain? Most of us rely on the daily weather forecast to know what to wear or whether to bring an umbrella. However, for millions of people living in flood prone areas, timely and accurate forecasts, as well as early warning, can impact more than just clothing choices –they can help minimize flooding impacts.
 
Floods are the most frequent and damaging among natural hazards. Between 1980 and 2016, floods led to economic damages exceeding US$1.6 trillion, and more than 225,000 people losing their lives. Compounded by rapid urbanization and climate change, these losses will likely increase, especially in fast-growing countries.

New data reveals uptick in private investment in EMDEs in 2017

Deblina Saha's picture
Also available in: Español | Français 


Photo: Creativa Images | Shutterstock

Critically constrained public resources on the one hand, and huge existing infrastructure needs for basic services on the other, make private participation in emerging markets and developing economies (EMDEs) not just critical, but in fact, imperative. Crowding in private finance is essential to spur economic development and meet the twin goals of shared prosperity and elimination of extreme poverty, as well as to achieve the Sustainable Development Goals.
 
The Private Participation in Infrastructure (PPI) Database, with data spanning over almost 27 years, has become a powerful tool and measure for gauging the level of private investment in infrastructure in EMDEs.  

Low-carbon infrastructure: an essential solution to climate change?

Deblina Saha's picture


Photo: Felix_Broennimann | Pixabay Creative Commons
 
Infrastructure is a key driver for growth, employment, and better quality of life in emerging markets and developing economies (EMDEs). But this comes at a cost. Approximately 70% of global greenhouse gas emissions come from infrastructure construction and operations such as power plants, buildings, and transport. The Overseas Development Institute estimates that over 720 million people could be pushed back into extreme poverty by 2050 as a result of climate impacts, while the World Health Organization projects that the number of deaths attributable to the harmful effects of emissions from key infrastructure industries will rise from the current 150,000 per year to 250,000 by 2030.
 
Does this mean we need to build less infrastructure? No. But part of the solution lies in low-carbon infrastructure.

An annual summit brings together pieces of the infrastructure puzzle

Jyoti Shukla's picture

On Thursday, April 5, the World Bank-Singapore Infrastructure Finance Summit will take place – the eighth time that the World Bank, the Government of Singapore, and the Financial Times are partnering to hold this annual event.
 
The Summit has gone from strength to strength each year, and helped pave the way for the many infrastructure-themed events across the reigon. This year, as Singapore’s chairing of ASEAN brings its ministerial meetings to the city-state, finance ministers from across Southeast Asia will join the Summit, and their presence underscores the importance they attach to sustainable infrastructure development.

Five lessons in infrastructure pricing from East Asia and Pacific

Melania Lotti's picture
Photo: © Dini Sari Djalal/World Bank

In the infrastructure domain, “price” is a prism with many façades.
 
An infrastructure economist sees price in graphic terms: the coordinates of a point where demand and supply curves intersect.
 
For governments, price relates to budget lines, as part of public spending to develop infrastructure networks.
 
Utility managers view price as a decision: the amount to charge for each unit of service in order to recover the costs of production and (possibly) earn a profit.
 
But for most people, price comes with simple question: how much is the tariff I have to pay for the service, and can I afford it?

Breaking new ground: growing the digital economy through cyber risk reinsurance PPPs in EMDEs

Jinsuk Park's picture


Photo: ItNeverEnds | Pixabay Creative Commons

The digital economy has emerged as a key driver of growth and development across the world. According to Huawei and Oxford Economics, it accounted for 15.5% of global GDP in 2016 and this share is expected to increase to 24.3% by the year 2020—growing 2.5 times higher than the overall growth of the global economy.

However, along with rapidly increasing digitization, we are witnessing an exponential increase in cyber risks. These have potentially huge financial impacts that could place entire economies and societies in jeopardy. Such threats now typically include privacy breaches, cyber fraud, denial-of-service attacks, and cyber extortion. There are many examples just within the last few years. For instance, a cyber attack on Ukraine’s power grid in 2015 caused serious power outages, and in 2016, the Central Bank of Bangladesh lost $81 million in a cyber heist. That same year, more than 3.1 billion records were leaked globally.

While traditional approaches such as establishing computer emergency response teams and national cyber security agencies are important, there is a need to engage more actively with both public and private entities through new institutional structures, new technologies, and new business models. Cyber risk insurance is one tool that can help address these challenges.

Behold the White Knights! New research on institutional investor participation in financing EMDE infrastructure

Abha Joshi-Ghani's picture


Photo: Grzegorz Zdanowski / Pexels Creative Commons

Some regard institutional investors—with their deep pockets—as the white knights filling the huge investment gaps in infrastructure development in emerging markets and developing economies (EMDEs). The IMF estimates that some 100 trillion dollars are held by pension funds, sovereign wealth funds, mutual funds, and other institutional investors. Unquestionably, the long-term nature of their liabilities matches the long-term financing requirements of infrastructure projects. So, it’s no surprise that institutional investors are seen as the white knights of infrastructure finance.

To unlock student potential in East Asia Pacific, be demanding and supportive of teachers

Michael Crawford's picture

Among the 29 countries and economies of the East Asia and Pacific region, one finds some of the world’s most successful education systems. Seven out of the top 10 highest average scorers on internationally comparable tests such as PISA and TIMSS are from the region, with Japan, Republic of Korea, Singapore, and Hong Kong (China) consistently among the best. 

But, more significantly, one also finds that great performance is not limited to school systems in the region’s high-income countries. School systems in middle-income Vietnam and China (specifically the provinces of Beijing, Shanghai, Jiangsu, and Guangdong) score better than the average OECD country, despite having much lower GDP per capita. What is more, scores from both China and Vietnam show that poor students are not being left behind. Students from the second-lowest income quintile score better than the average OECD student, and even the very poorest test takers outscore students from some wealthy countries. As the graph below shows, however, other countries in the region have yet to achieve similar results.

Yin Yin Lam - 10 candid career questions with infrastructure & PPP professionals

Yin Yin Lam's picture



Welcome to the “
10 Candid Career Questions” series, introducing you to the infrastructure and PPP professionals who do the deals, analyze the data, and strategize on the next big thing. Each of them followed a different path into infra and/or PPP practice, and this series offers an inside look at their backgrounds, motivations, and choices. Each blogger receives the same 15 questions and answers 10 or more that tell their career story candidly and without jargon. We believe you’ll be as surprised and inspired as we were.  

How do city leaders get things done? Learning from mayors in Japan

Sameh Wahba's picture
Also available in: Español | 日本語 
Picture of the Competitive Cities Technical Deep Dive participants enjoying a walk through the Minato Mirai 21 area (with the Cosmo Clock in the background), which aims to concentrate high-value added activities and a high quality of life in an integrated urban core in downtown Yokohama. Photo Credit: TDLC
The task of mayors and city leaders is no longer limited to providing efficient urban services to their citizens. Job creation is at the forefront of the economic development challenge globally.

Cities need jobs and opportunities for their citizens and the means to generate tax revenues to fund projects that meet their populations’ growing demand for basic services. The WBG flagship report on Competitive Cities outlines how creating jobs in urban areas – urgently but also at scale– is essential.
 
In November, 2017, we spent a week with approximately 30 city and national government officials and policymakers from several countries, including Argentina, Chile, Croatia, Egypt, Ethiopia, Malaysia, Philippines, Romania, South Africa, Tunisia and Uganda. These leaders represented diverse cities across the world, all with a common objective – how to make their cities and regions more competitive?

Many were dealing with a fragmented institutional landscape, often with overlapping jurisdictions – necessitating clarity of institutional circuits and processes. Some struggled to coordinate economic development strategies with private sector. Lack of adequate sub-national socio-economic data to drive evidence-based policy making compounded issues. City leaders are not looking for a lesson in theory – but evidence of what works and what doesn’t, and practical, implementable examples of how to get things done.
 
We spent the week as part of a Technical Deep Dive, studying and living the experience of two exceptional Japanese cities - Yokohama and Kobe. These cities have dealt with:
  • population influx,
  • industrialized at a rapid pace,
  • responded to environmental challenges,
  • reached the technological frontier,
  • undergone a housing bubble,
  • and even went through a major disaster (the Kobe earthquake) and recovered from it.

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