Help needs to come immediately to save lives; recovery and reconstruction have to start swiftly to lessen the impact.
However, while money is critical to this response, it’s not just about funding. Indeed, funds need to match the event scale, target the right areas and sectors, and smoothly flow to communities in need. But in order for that to happen, sound public policy on risk and frameworks have to be in place.
To address both urgent financial needs while pursing strategic disaster risk management policy goals, countries have been using the World Bank’s development policy loan with a catastrophe deferred drawdown option or, more widely known as the Cat DDO.
Europe and Central Asia
Photo: Roberto Maldeno | Flickr Creative Commons
Read this blog in Ukrainian.
Infrastructure in Ukraine, Europe’s largest country, is extremely underdeveloped. Without significant investment, it cannot support the existing or future needs of our economy or population. The reasons are many: decades of mismanagement under Soviet rule, economic crisis, and more recently, the conflict in the Donbass. Given that these constraints go beyond a simple lack of funding, our government is partnering with the Global Infrastructure Facility (GIF), as well as other international partners such as the European Bank for Reconstruction and Development (EBRD) and the World Bank.
Ask any resident of Romania whether their roads are safe and they will answer a resounding “no”. In 2016, fatalities on Romania's road reached 1,913 - more than double the number of fatalities compared with the EU-28 average of 925. Romania’s average fatality rate over the past six years has consistently been twice higher than the EU-28 average, registering around 91 fatalities per million people, compared to 51 for the rest of the EU.
Alarmingly, Romania’s fatality rate keeps increasing - reaching 95 per million people in 2016. In addition to the human tragedy this situation represents a huge economic cost. According to the General Transport Master Plan, costs of fatal road crashes in Romania are alarmingly high - estimated to be at least 1.2 billion euro (5.4 billion RON) per year.
On May 31 we had the pleasure of presenting the first phase of the Poland Catching-up Regions Program, an initiative of the European Commission and the World Bank. In just over one year, this initiative has successfully addressed a number of key development challenges faced by two "lagging regions" in Poland – Podkarpackie and Świetokrzyskie.
The initiative's successes range from faster business registration in Rzeszow and Kielce (the capitals of the two regions, respectively) to the setting-up of a vocational education training system in Świteokrzyskie and design of a Technology Transfer Center in Rzeszow. Partnered with outstanding teams from the European Commission and Poland, the World Bank was able to support this progress by bringing together global expertise and hands-on collaboration in both design and implementation of policies. This is important for Poland and for the lessons it provides for other developing countries.
I have always believed that communities are like musical instruments. You need to tune them properly to hear their divine music. I actually heard this music from rural communities in India. And their song, which still resonates within me, is something I will now take back to my own country.
In May 2017, my colleagues and I from the World Bank’s Azerbaijan Rural Investment Project were on an exposure visit to India to see firsthand how self help groups and cooperatives were impacting the lives of rural people.
In my years of work in rural development, I have found that the unique feature we as human beings have is the ability to share skills, values and experiences. As we travelled across six states, this proved to be true in all the people we met, be it in large commercial companies or in remote rural communities.
The people told us that transparency and honesty were an essential factor in their success. I also found that the spirit of cooperation was clearly present. Cooperatives belong to all members, they said, and the managers were there to serve the members. The leaders of self help groups, producer organizations, cooperatives, and micro enterprise groups also told us that they must be party to the risk taken by the group, and should lead by example in order to motivate others.
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.
Twenty-four-year-old Narmina enrolled at the Azerbaijan University of Languages in September of 2012. In the last year of Narmina’s studies, her father, a war veteran, and mother encountered financial difficulties and were unable to pay Narmina’s tuition. Having dropped out or, more accurately, “stopped out” of her studies, Narmina applied to Azerbaijan’s newly established Maarifci Student Loan Foundation (MSLF) and was one of the first to be awarded a student loan. With the much needed financial support, Narmina has since completed her bachelor’s degree and now works at a local tourism company.
The World Bank forecasts that global economic growth will strengthen to 2.7 percent in 2017 as a pickup in manufacturing and trade, rising market confidence, and stabilizing commodity prices allow growth to resume in commodity-exporting emerging market and developing economies. Growth in advanced economies is expected to accelerate to 1.9 percent in 2017, a benefit to their trading partners. Amid favorable global financing conditions and stabilizing commodity prices, growth in emerging market and developing economies as a whole will pick up to 4.1 percent this year from 3.5 percent in 2016. Nevertheless, substantial risks cloud the outlook. These include the possibility of greater trade restriction, uncertainty about trade, fiscal and monetary policy, and, over the longer term, persistently weak productivity and investment growth.
Download the June 2017 Global Economic Prospects report.
Global growth is projected to strengthen to 2.7 percent in 2017, as expected. Emerging market and developing economies are anticipated to grow 4.1 percent – faster than advanced economies.
В развитых странах ожидается ускорение экономического роста до 1,9 процента в 2017 году, что благотворно скажется на положении их торговых партнеров. На фоне благоприятных глобальных условий финансирования и стабилизации цен на сырье экономический рост в странах с формирующимся рынком и развивающихся странах, в целом, достигнет в этом году 4,1 процента по сравнению с 3,5 процента в 2016 году. Вместе с тем, эти перспективы омрачаются серьезными факторами риска, к числу которых относятся возможность ужесточения торговых ограничений, неопределенность в области торговой, налогово-бюджетной и кредитно-денежной политики, а в более долгосрочном плане – хронически низкие показатели производительности и прироста инвестиций.
Скачать доклад «Перспективы мировой экономики» за июнь 2017 года (на английском языке).
В 2017 году темпы роста мировой экономики должны повыситься до 2,7 процента, как и прогнозировалось ранее. В странах с формирующейся рыночной экономикой и развивающихся странах (СФРРС) экономический рост, как ожидается, будет заметнее, чем в развитых странах, и составит 4,1 процента.
Рост мировой экономики