Earlier this year, the Metropolitan Policy Program and the Center on Children and Families at Brookings released a study on multidimensional poverty and race in America. The study shows why it’s important to look at poverty through the dimensions of low household income, limited education, lack of health insurance, concentrated spatial poverty, and unemployment, and why we should consider ways to de-cluster and reduce the links between them.
Small states (SST)
- Forced displacement due to war, conflict, and persecution;
- Involuntary migration due to poverty, erosion of livelihoods, or climate change impacts that have destroyed and degraded life support systems; and/or even
- Voluntary migration of indomitable spirits unable to reconcile with the status quo and seeking better social and economic opportunities.
To better understand forced displacement, I led a joint World Bank-UNHCR team that brought out the Forced Displacement and Mixed Migration Report for the Horn of Africa (HOA) – a region with an estimated 242 million inhabitants that includes eight countries (Djibouti, Eritrea, Ethiopia, Kenya, Somalia, South Sudan, Sudan, and Uganda), which collectively host more than 9.5 million displaced persons, including more than 6.5 million internally displaced persons and approximately 3 million refugees.
55 is the magic number. Sure - 175 parties (174 countries plus the European Union) signed the Paris Agreement in April in New York City earlier this year. But this alone is not enough. It matters not only how many countries signed the document, but also how many countries ultimately join the Paris Agreement by ratifying it.
Past PPP Blogs introduced readers to the Caribbean Regional Support Facility, which ran a series of boot camp-style workshops to increase technical capacity among Caribbean government officials and achieve long-sought results. In our newest video blog from the field, Brian Samuel, a PPP Coordinator with the Caribbean Development Bank (and a former IFC staffer), explains how these PPP boot camps transformed talk into action. Brian's first installment of this series can be found here.
It has been almost four years since I first became involved with the regional public-private dialogue initiative, the Caribbean Growth Forum (CGF). In June 2012, I walked into the conference room at University of the West Indies, Mona Campus for the Launch of the first phase of the initiative and there was something electric in the air. It was new and fresh, but old fears lingered; was this to become 'just another regional talk-shop?'
Wide-eyed and optimistic I was determined that for my small part it wouldn't turn out that way.
Judging by the number of views of the recent Facebook livestream event on intra-regional trade and investment in South Asia, there is significant interest in this topic. And there should be, given that there remain many important and untapped opportunities to use the power of trade and investment to enhance economic opportunities, including for lesser-skilled people and women in the region.
According to respondents of the Facebook poll conducted during the above event in May 2016, the most important policy to enhance intra-regional trade would be to invest in connectivity and border crossings. Policy makers seem to realize this as well. Over the last two years, new efforts to deepen South Asian cooperation in trade have focused almost exclusively on trade facilitation issues. Let me elaborate.
Just fourteen projects in energy, transport and water/sanitation. In only eight countries. Totaling $2.7 billion.
There are 56 IDA countries (excluding three “inactive” and a few rich enough to count as “IDA blend”) defined as having per capita income under $1,215. This 2.7 billion in IDA countries compares to total private infrastructure investment commitments of $111.6 billion in all emerging markets in 2015 per the recently released Private Participation in Infrastructure database.
In recent years, the number of projects and investment amounts of private infrastructure in IDA countries hasn’t increased. If people living in the poorest countries are to get better access to energy, transport and water services, and if we believe that the innovation, management capacity and financing of the private sector working together with governments is essential to help make that happen … well, then we need a step change.
We know to make a difference requires dedication and a long term vision. One part of that ambitious change is the Global Infrastructure Facility (GIF). The GIF is a global open platform to help partners prepare and structure complex infrastructure public-private partnerships (PPPs) in emerging markets, and to bring in private sector and institutional investor capital. The GIF platform integrates the efforts of multilateral development banks (who as Technical Partners choose which projects to submit for GIF funding), private sector investors and financiers, and governments to bring infrastructure projects and programs to market. No single institution can achieve these goals alone. The GIF’s Advisory Partners, which include insurers, fund managers, and commercial lenders, and which together have $13 trillion in assets under management, provide feedback to governments on the bankability of projects.
In Bhutan, the only country that measures success on a scale of Gross National Happiness (GNH), government officials actively research ways to make residents’ lives happier. So when it became apparent that the growing number of vehicles in Thimphu, the capital city, was increasing traffic congestion and causing intense frustration among locals, the authorities started looking for a solution to restore contentment among its citizens.
Translations available in Chinese and Spanish.
Many of you are already familiar with the PPP (Public-Private Partnerships) Group’s Private Participation in Infrastructure (PPI) Database. As a reminder for those who aren’t, the PPI Database is a comprehensive resource of over 8,000 projects with private participation across 139 low- and middle-income economies from the period of 1990-2015, in the water, energy, transport and telecoms sectors.
We recently released the 2015 full year data showing that global private infrastructure investment remains steady when compared to the previous year (US$111.6 billion compared with US$111.7 the previous year), largely due to a couple of mega-deals in Turkey (including Istanbul’s $35.6 billion IGA Airport (which includes a $29.1 billion concession fee to the government). When compared to the previous five-year average, however, global private infrastructure investment in 2015 was 10 percent lower, mainly due to dwindling commitments in China, Brazil, and India. Brazil in particular saw only $4.5 billion in investments, sharply declining from $47.2 billion in 2014 and reversing a trend of growing investments over the last five years.
- private sector
- Private Sector Development
- Global Economy
- Financial Sector
- The World Region
- South Asia
- Middle East and North Africa
- Latin America & Caribbean
- Europe and Central Asia
- East Asia and Pacific
- El Salvador
In a world of slow growth and very low interest rates in most major economies, there is increasing interest in infrastructure development. Building quality infrastructure helps spur economic activity and jobs in the short term and expand countries’ capacity and potential growth in the medium term. It also contributes to higher confidence levels — a key ingredient to macroeconomic stability.
Today, the private sector still provides only a small share of the total investment in infrastructure for emerging markets, despite the importance of private operators in many countries, especially where there are strong fiscal constraints to financing public investment.