The North Atlantic hurricane season officially opens June 1, and there are predictions that storms this year could be worse than average again. That would be bad since last year was the costliest year on record for coastal storms. Communities and countries across the Caribbean and SE USA were particularly hard hit. The need for resilient solutions to reduce these risks is paramount.
So in 2016 The Nature Conservancy teamed with the World Bank and scientists from the public, private and academic sectors to identify how to rigorously value the flood protection benefits from coastal habitats. In short, we recommended that we value this ecosystem service by adopting tools and from the engineering, risk and insurance sectors and following an Expected Damage Function (EDF) approach. This approach assesses the difference in flooding and flood damages with and without coastal habitats such as mangroves across the entire storm frequency distribution (e.g., 1-in-10, -25 and -100 year storms).
A key objective of the Belt and Road Initiative (BRI) is to promote international trade among participating economies. As a first step to understanding how the BRI will transform trade flows, we need to look at the existing commercial relationships. A recent paper by the WBG studies the evolution of trade and production linkages of the economies along the Belt and Road. Here is what we know so far.
What is foreign direct investment and why does Sri Lanka need it?
Very simply, foreign direct investment (or FDI) is an investment made by a company or an individual in a foreign country. Such investments can take the form of establishing a business in Sri Lanka, building a new facility, reinvesting profits earned from Sri Lanka operations or intra-company loans to subsidiaries in Sri Lanka.
The hope is that these investment inflows will bring good jobs and higher wages for Sri Lankan workers, increase productivity, and make the economy more competitive.
“I have always enjoyed studying computer and human physiology since childhood, that’s why I jumped at the opportunity of developing a scientific application with KPITB’s support. This app has even helped my younger brother understand different body organs and their functions in a fun way. The KPITB’s ‘early age programming’ program has supported many girls from public schools, who would otherwise have never received this chance of realizing their dream of developing apps.”
Such compelling words came from Hafsa, a 13-year-old female student of Pakistan’s Khyber Pakhtunkhwa’s (KP) public school as she addressed about one thousand young men and women at this year’s Digital Youth Summit (DYS) in Peshawar.
Girls like Hafsa are becoming the face of DYS, an annual event that brings the spotlight on young talent and their digital innovations.
I heard similar passionate accounts during my two-day interaction with KP youth as they shared candidly how they had transformed challenges into opportunities through hard work and perseverance.
The guide enables countries to measure the costs associated with retail payment instruments, based on survey data, for the payment end users, payment service/infrastructure providers, and the total economy. The guide also enables countries to derive projected savings in shifting from the more costly to the less costly payment instruments.
“The World Bank is one of the world’s largest producers of development data and research. But our responsibility does not stop with making these global public goods available; we need to make them understandable to a general audience.
When both the public and policy makers share an evidence-based view of the world, real advances in social and economic development, such as achieving the Sustainable Development Goals (SDGs), become possible.” - Shanta Devarajan
This Atlas would not be possible without the efforts of statisticians and data scientists working in national and international agencies around the world. It is produced in collaboration with the professionals across the World Bank’s data and research groups, and our sectoral global practices.
Capital flows to emerging market economies are deemed volatile, driven more by external than domestic factors. Surges in capital flows often generate macroeconomic imbalances in emerging markets, resulting in rapid credit growth, asset price inflation, and economic overheating. Reversals are disruptive too, often causing financial volatility, economic slowdown, and in some cases distress in the banking and corporate sectors.
Agribusiness can help drive prosperity in Sri Lanka – and we know just the entrepreneurs to do it. Over the last few months, we have seen over 1000 proposals come pouring in for consideration under the matching grants scheme (MGS) for agribusiness. Today, the Government will sign the grant documents with the first entrepreneurs to make the cut.
The winning proposals lay out a clear plan for commercial and export-oriented agriculture initiatives that facilitate private sector investment, provide technical assistance, strengthen farmer producer organizations and promote smallholder–agribusiness partnerships.
The goal is to increase their competiveness, business orientation and market position in order to make them more attractive business partners in the value chain. It’s an ambitious task, but Sri Lanka’s agri-entrepreneurs have risen to the challenge.
Matching grants scheme supports agribusiness
The matching grants scheme, implemented by Sri Lanka’s Ministry of Primary Industries comes under the Agriculture Sector Modernization Project. Supported by the World Bank, with additional funding from the European Union, the project is implemented through the Ministry of Primary Industries, the Ministry of Agriculture, and five participating provinces including the Northern, Eastern, Central, North-Central and Uva Provinces.
A rigorous and transparent selection process was used to create a shortlist. Successful applicants would be offered up to 50 percent of the investment required through the scheme, matched by their own funds or raised from commercial loans.
These small enterprises need the boost. Today, beside a few major agriculture companies, most operators in Sri Lanka are small-scale cultivators who face problems related to low productivity and lack of diversification, absence of market linkages, non-availability of inputs and limited access to credit facilities. Farmers are not organised and tend to focus on low value crops that limit income generation.
The construction work was completed in October 2017 and handed over to the community.
Nearly 20 children now attend the CDC every day.
Kamala Darshani, the Child Development Officer in charge is pleased that the children now have a brand new center with new tables, chairs, and toys. She finds that the children love various colors and feels that the children could benefit from attending the center every day.