Two decades of economic growth have helped make Cambodia a global leader in reducing poverty.
The success story means the Southeast Asian nation that overcame a vicious civil war now is classified as a lower-middle income economy by the World Bank Group (WBG).
The new classification this year is based on thresholds set by the WBG in a system with roots in a 1989 paper that outlined the methodology. The table below shows the different levels of classification based on Gross National Income (GNI):
Where are these 370 million people, who are they, and why they are so overrepresented among the poor?
Only about 8% of the Indigenous Peoples around the world reside in Latin America, a far smaller number than most people surmise. On the other hand, over 75% live in China, South Asia and Southeast Asia, according to World Bank’s first global study of poverty among Indigenous Peoples across the developing world, Indigenous Peoples, Poverty, and Development.
After over two years of development and drafting, Vietnam’s Decree 15 on Public Private Partnerships (PPP Decree) came into effect last spring. Dedicated specifically to the identification, preparation, and implementation of PPP projects, the PPP Decree replaced the largely unimplemented regulations for pilot PPP projects as well as the regime for build-operate-transfer (BOT), build-transfer-operate (BTO), and build-transfer (BT) projects. Almost a year after the PPP Decree was issued, it’s become clear that it has rebooted Vietnam’s potential for PPPs in a significant and lasting way.
Poverty and isolation create a host of development challenges for Myanmar's rural communities, from poor road connections to lack of clean water and unreliable electricity.
Since 2013, the Myanmar National Community-Driven Development Project (NCDDP) has helped improve access to basic infrastructure and services with support from the International Development Association (IDA), the World Bank's fund for the poorest. The community-driven development (CDD) approach responds well to local development challenges, in that it lets community groups decide how to use resources based on their specific needs and priorities.
Implemented by Myanmar's Department of Rural Development, NCDDP now operates in 5,000 villages across 27 rural townships梙ome to over 3 million people梐nd plans to reach about 7 million people in rural communities in the coming year.
In this video, Ede Ijjasz and Nikolas Myint reflect on what has been achieved so far, describe some of the challenges they met along the way, and talk about plans to take the NCDDP to the next level.
“In a time when gods walked the earth, an epic battle rages between the encroaching civilization of man and the gods of the forest…” That’s the opening line of the official movie trailer for Princess Mononoke.
I’ve always been a fan of Studio Ghibli, but among their films, Princess Mononoke was one that inspired me most. If you don’t know the story, there’s a prince that gets involved in a war between mankind and gods. The fate of the world rests on a forest princess! Yes, there’s a fearless forest princess in this movie. With its strong plot, interesting characters and fantasy elements, it became one of the highest-grossing films in Japan. Sure enough, Mononoke led me to a path of believing in heroes and saving the world.
If I ask you what movie changed your life or inspired you to action, I’m guessing that you would tell me about a blockbuster, or maybe, a cause-related documentary. Stories speak to us differently and individually. The bigger question is, where can these stories take us?
On a warm, rainy day in Shantian Village of Luo Fang Town in Jiangxi Province, farmer Liu Jian, along with five other locals, welcomed our World Bank mission team, including technical experts from the Investment Centre of the Food and Agriculture Organization (FAO), into his home.
The Summit is a biannual event that is one of the premier showcases of the state of urban development around the world. The fact that it is being hosted by Singapore – a city-state that epitomizes livability, inclusion and sustainability – is particularly fitting. The World Bank’s Infrastructure and Urban Development Hub team is proud to partner with the Center for Livable Cities in participating in several events during the World Cities Summit, such as the Mayors Forum, an ADB learning event on Cities and Middle Income Countries, and thematic sessions on culture, municipal finance, and innovation. One of the benefits of large global events such as the World Cities Summit is the opportunity to meet city leaders, counterparts, partner agencies, and colleagues from across the world to discuss ways and means on how the World Bank Group can continue to support them in their development objectives.
Today, Cambodia is among the world’s fastest growing economies. Its gross national income per capita increased by more than threefold in two decades, from $300 in 1994 to $1,070 in 2015.
Strong economic growth has helped lift millions of people out of poverty.
The Cambodian people have benefited as the economy diversified from subsistence farming into manufacturing, tourism and agricultural exports. Poverty fell to 10% in 2013, from 50% in 2004. Cambodians enjoy better school enrollment, literacy, life expectancy, immunization and access to water and sanitation.
One year ago, Mongolia was designated an Upper Middle Income Country (UMIC) when the country’s GNI per capita crossed the threshold between lower and upper middle income countries. Some Mongolians celebrated, seeing the designation as a reflection of how far the country had come since recovering from a prolonged slump in the 1990s. Others wondered what it means for the availability of concessional financing in the future. And others just wondered if it was accurate. While Mongolia’s progress is unmistakable, we also know that 22% of the population lives below the national poverty line of roughly $2.70 per day—what does it mean to be an “upper middle income country” in the face of such a statistic?
Last week, Mongolia was re-designated a Lower Middle Income Country (LMIC). How is this possible and what does it mean?
The importance of literacy for economic growth and development is already well established in economic research. Literacy enables people to access information and improve their productivity. I believe that literacy is crucial to the diffusion of new technologies, especially among the poor. It produces high economic returns, so much so that early literacy is viewed as a threshold for economic development.