Market conduct supervisors in the financial sector have a tough job. And it’s getting tougher.
Their core work involves collecting data from disparate sources and undertaking complex analyses to identify and assess risks. They must also determine compliance with rules that are often principles-based. For example, what do complaints data, consumer agreements and marketing materials indicate about whether a financial service provider is treating its customers fairly?
Latin America & Caribbean
Across the disaster risk management community, there is growing recognition that protecting cultural heritage is fundamental to urban resilience. Traditional knowledge embedded in cultural heritage, such as historical evacuation routes or shelters, can help societies cope with natural hazards. Moreover, when these hazards disrupt cultural heritage sites, such as museums, monuments and places of worship, they often cause irreparable damage to people’s cultures, identities and livelihoods.
A case in point is last year’s devastating earthquake in central Mexico, which damaged over 1,500 historic buildings, including the 250-year-old Church of Santa Prisca, one of the country’s grandest and most beloved churches. Mexico is one of a number of countries that have undertaken major efforts to protect cultural heritage sites, including through its Plan Verde, which works to reduce seismic and other disaster risks in Mexico City’s historic center.
On the sidelines of the 2018 Understanding Risk Forum, which was aptly held in Mexico City, Giovanni Boccardi, Chief of the Emergency Preparedness and Response Unit for the Culture Sector of UNESCO, made the case that much more needs to be done to put cultural heritage front and center in the disaster risk management agenda.
Miranorte is a small town in the State of Tocantins, northern Brazil, well-known for its pineapple production. During the rainy season, the production cannot reach the markets due to the obstruction of the roads with the water flow. In many places, the roads lack bridges and culverts, jeopardizing both safety and accessibility.
In order to address these challenges, the World Bank’s Multisector Project in Tocantins (2012-2019), which includes a rural road component, decided to hear firsthand from the community about their priorities for development and inputs in the selection of roads that needed improvement. Aside from a practical and transparent approach, the consultations compensated for the lack of information required for conventional planning.
Tocantins, as many places in the world, doesn’t have any traffic data, information on road conditions, or even maps of the rural road network available. Although IT technologies are emerging and the importance of these data for management of road assets is evident, it is often time-consuming and costly to survey all the rural road network, especially in a state like Tocantins, which is larger than the United Kingdom.
One out of ten people in the world —around 766 million people— still lived below the extreme poverty line in 2013. Most of them, 80 percent, live in rural areas and have very low productivity jobs. Improving jobs and earnings opportunities for these poor and vulnerable workers is at the core of the World Bank Group agenda and it requires holistic economic inclusion initiatives to move them into sustainable livelihoods.
What motivates poor policy and investment decisions? Why do supposedly good policies not translate into practice? And how can we avoid perpetuating pitfalls between policy and pipes?
Our new paper ‘Aligning Institutions and Incentives for Sustainable Water Supply and Sanitation Services’, produced with the support of the Global Water Security and Sanitation Partnership (GWSP), examines precisely these issues. Through research, analysis, and case studies, the report posits that genuine, sustainable progress in water supply and sanitation service delivery is complex, iterative, and multi-faceted. Whether it’s expanding access, improving efficiency, or providing better services – all reforms require their own unique blend of policies, institutions and regulations and all take place in the context of their own unique enabling environment.
In 2017-18 we visited the Meta department in Colombia on multiple occasions. Located right where Colombia’s Llanos Orientales (Eastern Plains) disappear south into the vastness of the Amazon rainforest, this area of the size of Belgium, the Netherlands, and Luxembourg combined is a magical spot in the world’s second most biodiverse country.
Meta is not a poor region - it boasts some of the nation’s largest oil reserves. Highly fertile soil and multiple thermal floors have created a boom in agribusiness in recent years, while its geographic proximity to Colombia’s capital has more recently led to a thriving tourism industry.
Despite having made significant progress on many fronts, this region still faces critical challenges. On our last visit, we had the opportunity to chat for hours with several small-scale farmers from south-western Meta – a sub-region where economic development has been seriously damaged by the cultivation of coca leaf, the raw material used to produce cocaine.
We constantly hear about the unlimited opportunities coming from the use of data. However, a looming question is yet to be answered: How do we sustainably go from data to planning? The goal of governments should not be to amass the largest amount of data, but rather “to turn data into information, and information into insight.” Those insights will help drive better planning and policy making.
Last year, as part of the Word Bank’s longstanding engagement on urban transport in Argentina, we started working with the Ministry of Transport’s Planning Department to tap the potential of data analytics for transport planning. The goal was to create a set of tools that could be deployed to collect and use data for improved transport planning.
In that context, we lead the development of a tool that derives origin-destination matrices from public transport smartcards, giving us new insight into the mobility patterns of Buenos Aires residents. The project also supported the creation of a smartphone application that collects high-resolution mobility data and can be used for citizen engagement through dynamic mobility surveys. This has helped to update the transport model in Buenos Aires city metropolitan area (AMBA).
Here are some of the lessons we learnt from that experience.
- urban mobility
- Disruptive Technologies
- skills building
- capacity building
- digital innovation
- urban planning
- transport planning
- fare integration
- Data Analysis
- Big Data
- mass transit
- public transport
- urban transport
- sustainable mobility
- sustainable transport
- Sustainable Communities
- Information and Communication Technologies
- Urban Development
- Latin America & Caribbean
View of a hurricane/ Photo: iStock
Co-authors: Michael Fedak, Guillermo Donoso, Curtis Barrett, Keren Charles and Kerri Whittington Cox
“June; too soon. July; standby. August; come it must. September; remember. October; all over”. This Caribbean nursery rhyme warns of the impending hurricane season and lets families know that it is time to start preparing for potential disasters.
But are hydrometeorological (“hydromet”) services adequately prepared?
PPI Annual report.
What to do to regain the levels of 2012?
This past spring, Honduras took an important step in improving transparency and accountability with respect to Public-Private Partnerships (PPP) by launching an online platform that allows public access to detailed information about these activities.
The portal, created with the support of the World Bank and in coordination with the Construction Sector Transparency Initiative (CoST), allows access to information related to PPP projects through their entire project cycle. This is a significant achievement that promotes transparency in PPP planning, procurement, implementation and monitoring in Honduras, by making information easily accessible to citizens.