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The World Region

Scaling the use of Islamic finance for infrastructure: MDBs can help

Sara Ahmed and Ashraf Bouajina's picture



Using Islamic finance for infrastructure development attracted more attention recently in the quest to maximize finance for development.

At the recent World Bank-IMF Annual Meetings in Bali, the World Bank and the Islamic Development Bank (IsDB) co-hosted a symposium on Islamic infrastructure finance, building on the institutions’ strategic partnership. As we note in Mobilizing Islamic Finance for Infrastructure Public-Private Partnerships, the asset-backed, ring-fenced, and project-specific nature of Islamic finance structures and their emphasis on sharing risks make them a natural fit for infrastructure public-private partnerships (PPPs).

Shining a light on asset-disclosure practices at the International Anti-Corruption Conference

Laura Pop's picture



In October, hundreds of representatives of civil society organizations, public and private sector representatives, journalists and international organizations gathered in Copenhagen for the 18th International Anti-Corruption Conference. This annual conference is viewed by many as a leading forum in the field of anti-corruption.

Accelerated remittances growth to low- and middle-income countries in 2018

Dilip Ratha's picture
On the back of stronger growth in remittance-sending economies, remittance flows to low- and middle-income countries are expected to reach a new record of $528 billion in 2018, an increase of 10.8 percent from last year, according to the World Bank’s Migration and Development Brief released today.
 

Energy prices fell 15 percent in November–Pink Sheet

John Baffes's picture
Energy commodity prices plunged more than 15 percent in November, led by oil (-19 percent) and coal (-7 percent), the World Bank’s Pink Sheet reported.

Non-energy prices declined by 1 percent, due to losses in agriculture and metals.

Agricultural prices fell 1 percent—a 3 percent decline in oils and meals was offset by a marginal gain in beverages.

Fertilizer prices gained nearly 6 percent, led by a 13 percent increase in urea.

Fighting tax evasion: notes from the International Anti-Corruption Conference

Anders Hjorth Agerskov's picture



The irony was hard to miss.

Last month, leaders from the public and private sectors, civil society, international organizations, academia, and the media met at the International Anti-Corruption Conference (IACC) in Copenhagen.

Time to adapt to changing climate: what does it mean for water?

Greg Browder's picture

As COP24 in Poland reaches its mid-point, it is becoming distressingly obvious that reaching the Paris Agreement goal of limiting global warming to well below 2 degrees Centigrade will be extremely challenging.  Recognizing that millions of people across the world are already facing the severe consequences of more extreme weather events, the World Bank Group’s newly announced plan on climate financing for 2021-2025 includes a significant boost for adaptation.

Rebound in metal prices? All eyes on China and trade

Wee Chian Koh's picture

This blog is the eighth in a series of ten blogs on commodity market developments, elaborating on themes discussed in the latest edition of the World Bank’s Commodity Markets Outlook. Earlier blogs are here.
 
The World Bank’s Metals and Minerals Price Index is forecast to remain broadly unchanged in 2019, following a projected 5 percent increase in 2018. However, volatility is anticipated to remain elevated due to China’s environmental policies, tariff negotiations between the United States and China, and Chinese policy responses aimed at stimulating the economy and cushioning the impact of trade tensions.

Fertilizer prices to rise in 2019 on supportive fundamentals

John Baffes's picture

This blog is the seventh in a series of ten blogs on commodity market developments, elaborating on themes discussed in the latest edition of the World Bank’s Commodity Markets Outlook. Earlier blogs are here.
 
The World Bank’s Fertilizer Price Index is expected to rise 2 percent in 2019, following a projected increase of 9 percent in 2018. The index rose 8 percent in the third quarter of 2018 (q/q) on high energy costs and tight supplies and was more than 18 percent higher than 2017Q3.

PPIAF’s recipe for enabling PPP finance: Good infrastructure governance

Jemima Sy's picture


It takes a lot to do a first Public-Private Partnership (PPP) well. In the past 12 months, we witnessed the successful financial close of two landmark PPPs: the Tibar Bay Port PPP—a first for Timor-Leste, one of the youngest countries in the world—and the Kigali Bulk Water project in Rwanda, considered the first water build-operate-transfer project in Sub-Saharan Africa.

To make these projects happen, deal teams, sponsors, and financiers did outstanding work in difficult environments. The Public-Private Infrastructure Advisory Facility (PPIAF) also earned some bragging rights and a share of the battle scars along with these actors.

Mapping for sustainable development: The Open Data for Resilience Mapathon

Lorenzo Piccio's picture

On Wednesday, November 14, we joined more than 170 volunteers at the World Bank’s Washington, D.C. headquarters to draw little red boxes on a map of Alajo—a small town in the coastal metropolis of Accra, Ghana.

Some might find tracing a map of a city 8,500 kilometers away to be a surprising way to spend an afternoon, but there are good reasons for it. The boxes represented buildings, and they will go on to become invaluable geospatial data that will help the residents of Accra prepare for and respond to flood risk. Home to over two million people, Ghana’s capital city is highly vulnerable to flooding. In 2015, torrential rainfall left much of the city underwater—affecting 53,000 people and causing an estimated US$100 million in damages.

In just a little over two hours, the volunteers made over 3,000 edits to the map of Alajo, complementing the work of local teams in Ghana that are leading data collection efforts in the field. Once validated by more experienced mappers, the data collected will help guide improvements to Accra’s solid waste disposal management system, and also inform the upgrading of settlements vulnerable to flooding.

Open Cities Africa: Collaborative mapping to build resilient societies

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