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).
The World Region
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.
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.
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.
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.
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.
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.
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.
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.