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Boosting access to market-based debt financing for sub-national entities

Kirti Devi's picture



Many countries are experiencing urbanization within the context of increased decentralization and fiscal adjustment. This puts sub-national entities (local governments, utilities and state-owned enterprises) in the position of being increasingly responsible for developing and financing infrastructure and providing services to meet the needs of growing populations.
 
However, decentralization in many situations is still a work in progress. And often there is a mismatch between the ability of sub-nationals to provide services, and the autonomy or authority necessary to make decisions and access financing—often leaving them dependent on national governments. Additionally, they may also contend with inadequate regulatory and policy frameworks and weak domestic financial and capital markets. 

The growing economic clout of the biggest emerging markets in five charts

Ayhan Kose's picture

Global economic growth is accelerating. After registering the slowest pace since the 2007-2009 financial crisis in 2016, global growth is expected to rise to a 2.7 percent pace this year and 2.9 percent over 2018-19.

While much has been said about better economic news from the major advanced economies, the seven largest emerging market economies—call them the Emerging Market Seven, or EM7 – have been the main drivers of this anticipated pickup.

Chart 1:

The contribution of the seven largest emerging market economies to global output has climbed substantially over the last quarter century.

The EM7 -- Brazil, China, India, Indonesia, Mexico, Russia and Turkey – accounted for 24 percent of global economic output over 2010-2016, up from 14 percent in 1990s. Although this is a smaller share than the Group of Seven major industrialized economies, the G7’s portion of global economic output has narrowed to 48 percent from 60 percent over the same time frame.
 

Contribution to global output (percent)

Global Value Chains: a way to create more, better and inclusive jobs

Ruchira Kumar's picture
Photo by Jonathan Ernst / World Bank

Global Value Chains are a win-win for firms that enjoy greater efficiency, productivity, and profits while they create better jobs (Photo by Jonathan Ernst / World Bank)
 
Global Value Chains (GVC) are significant vehicles of job creation, employing around 17 million people worldwide and carrying a share of 60 percent of global trade. As globalization increases, GVCs are becoming more relevant in international production, trade, and investments. And Global Value Chains also have an important effect on job creation, and these jobs usually have higher wages and better working conditions. Global Value Chains can become a win-win for firms, which enjoy greater efficiency, productivity, and profits while they create better jobs. Here are some revealing facts about the potential of GVCs to create more and better jobs.

Using ICTs to Map the Future of Humanitarian Aid (part 1)

Dana Rawls's picture
Haiti map after the 2010 earthquake. Over 450 OpenStreetMap volunteers from an estimated 29 countries digitized roads, landmarks and buildings to assist with disaster response and reconstruction. OpenStreetMap/ITO World

The word “disruption” is frequently used to describe technology’s impact on every facet of human existence, including how people travel, learn, and even speak.

Now a growing cadre of digital humanitarians and technology enthusiasts are applying this disruption to the way humanitarian aid and disaster response are administered and monitored.

Humanitarian, or crisis, mapping refers to the real-time gathering and analysis of data during a crisis. Mapping projects allows people directly affected by humanitarian crises or physically located on the other side of the world to contribute information utilizing ICTs as diverse as mobile and web-based applications, aggregated data from social media, aerial and satellite imagery, and geospatial platforms such as geographic information systems (GIS).

How to host 200,000 refugee students in your education system: An answer from Lebanon

Noah Yarrow's picture
Syrian refugee students listen to their school teacher during math classes
(Photo: Dominic Chavez/World Bank)

 
World Refugee Day happens once year, but the issues it is designed to highlight are a daily concern for Lebanon. As the country which hosts the world’s largest number of  refugees per capita, Lebanon  holds some important lessons. Lebanon almost doubled the size of its national public education system in five years in response to the ongoing refugee crisis, something no country has ever done before. The large increases in primary education seen particularly in African countries in the last decade and a half rarely accounted for more than a 50 percent increase in the total public school population as they were focused on the first six years of school; Lebanon has increased its overall public school population by almost 100 percent.  

Pandemics will strike but countries' preparedness is less certain

Prof. Dr. Recep Akdağ's picture



Turkey is a transcontinental country, with territory contiguously spanning two continents. It is bordered by eight countries and is circled by sea on three sides. The international airport in Istanbul is the 10th busiest airport in the world, and last year, in 2016, more than 60 million passengers went through it. Of these, two-thirds were international passengers. Yes, Turkey is very vulnerable to disease outbreaks. Indeed, all countries are.

Building Grit in the Classroom and Measuring Changes in it

David McKenzie's picture

About a year ago I reviewed Angela Duckworth’s book on grit. At the time I noted that there were compelling ideas, but that two big issues were that her self-assessed 10-item Grit scale could be very gameable, and that there was really limited rigorous evidence as to whether efforts to improve grit have lasting impacts.

A cool new paper by Sule Alan, Teodora Boneva, and Seda Ertac makes excellent progress on both fronts. They conduct a large-scale experiment in Turkey with almost 3000 fourth-graders (8-10 year olds) in over 100 classrooms in 52 schools (randomization was at the school level, with 23 schools assigned to treatment).

A mixed report: How Europe and Central Asian Countries performed in PISA

Cristian Aedo's picture
 Aigul Eshtaeva / World Bank
While more ECA program countries are participating in the PISA assessment of 15-year-old students' skills, education poverty in these countries has only slightly declined since 2000. (Photo: Aigul Eshtaeva / World Bank)

Recently, the OECD released the results for PISA 2015, an international assessment that measures the skills of 15-year-old students in applying their knowledge of science, reading, and mathematics to real-life problems. There is a sense of urgency to ensure that students have solid skills amidst modest economic growth and long-term demographic decline in Europe and Central Asia (ECA).

Success factors in Turkey’s Elaziğ healthcare PPP

Matthew Jordan-Tank's picture

Editor's Note: Join us April 22nd at 10AM ET for the 2017 Global Infrastructure Forum when the Multilateral Development Banks (MDBs), the United Nations, the G-20, and development partners from around the world meet to discuss opportunities to harness public and private resources to improve infrastructure worldwide, and to ensure that investments are environmentally, social and economically sustainable. Check out the event site to view the livestream on April 22.



Imagine the difficulty of designing, financing, building and operating a €360 million, 1,000-bed hospital campus that serves a region of 1.6 million people? This is exactly what the government of Turkey is doing in Elaziğ, a city of 350,000 in eastern Anatolia. The facility will serve and accommodate about 20,000 patients and their relatives per day with a broad range of services including women and children’s health, psychiatric services, and a dental clinic.
 
A project of this size is bound to be challenging and complex. But the approach taken by the Turkish Government has been a success—to involve a private-sector partner through a public-private partnership (PPP) with support from multilateral development banks. How did they do it?

Partnering to measure impacts of private sector projects on job creation

Alvaro Gonzalez's picture
Worker in Ghana
For the poor and vulnerable of the world, jobs are key to ending poverty and driving development. But not all jobs are equally transformational.  
Photo: Jonathan Ernst / World Bank

Jobs are what we earn, what we do, and sometimes even who we are. For the poor and vulnerable of the world, jobs are key to ending poverty and driving development. But not all jobs are equally transformational. Good jobs add value to society, taking into account the benefits they have on the people who hold them, and the potential spillover effects on others. For example, inclusive jobs, such as those that employ women, can change the way families spend money and invest in the education and health of children.  


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