Political intervention in credit markets, often with telling consequences, seems to be ubiquitous, regardless of the stage of development of the financial system. It has been well documented that in emerging markets, cozy ties between banks and politicians, as well as state ownership of banks, give rise to a great deal of political influence in credit extension and capital allocation. The recent financial crises in U.S. and the Eurozone have demonstrated that even advanced financial systems are not immune to political intervention.
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How much is a jar of jam worth? A couple of pesos, at most. But for a group of women from a remote Guatemalan village, it’s worth its weight in gold. It has helped them develop as individuals and has made a significant contribution to their income and that of their community.
With a sweet voice that cracks with emotion, Blanca Estela, a single mother of four, tells us that making jam marked a turning point in her life. She is one of 30 women from Nueva Esperanza, a company that makes jams and sauces in San Lucas Tolimán, Guatemala. The company has helped the women become independent in a society that continues to be patriarchal. It has also promoted local economic growth.
When I visited the women to make this video, they told me that the Rural Economic Development Program supported by the World Bank enabled them to open new markets and increase their earnings. “This is the dream of a lifetime. We’ve been able to develop as individuals and as businesswomen,” says Esperanza. It has turned these rural homemakers into businesswomen. They now serve as an example for the rest of the women and men in the village.
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Drought, food prices, and global warming remain hot topics as crops in the United States wilt under the hot sun, raising fears of another food price crisis. The Guardian chronicles the corn belt’s adverse conditions – and the implications for the rest of the world in “America’s Corn Farmers High and Dry as Hope Withers With Their Harvest.” (For a view from South Africa on the drought’s ripple effect, see Independent Online’s “US drought puts pressure on SA food prices”.) On another food supply issue, Co.exist highlights a new study on the costs and benefits of rebuilding global fisheries in “More Fish Means More Money.” The bottom line: rebuilding fisheries would begin to pay off in 12 years, the study says. The New York Times blog India Ink relates an effort to address another huge challenge—access to sanitation—in “Mapping Toilets in a Mumbai Slum Yields Unexpected Results.” Bloomberg looks at the coming demographic dividend in Southeast Asia, where young workers are expected to gain jobs as workforces age in Japan, Korea and China.
The phrase “gender gap” may be well known – but what about the gender gap for data? Today at an event at the Gallup Organization in Washington, D.C., U.S. Secretary of State Hillary Clinton and World Bank Group President Jim Yong Kim called for better data-gathering on girls and women as an essential way to boost women’s empowerment and economic growth.
“Gender equality is vital for growth and competitiveness,” said Dr. Kim at “Evidence and Impact: Closing the Gender Data Gap” in Washington, co-hosted by the State Department and the Gallup Organization.
But the lack of gender-disaggregated data hampers development efforts in many countries, Dr. Kim said.
“We need to find this missing data. We need to make women count.”
Thousands of schoolchildren in the northwest region of Cameroon are benefiting from a co-investment schoolbook program established by Knowledge for Children (KFC), a Cameroon-Dutch based non-governmental organization (NGO).
-Despite high enrollment rates, one in two students in Cameroon leaves school without basic literacy skills, a metric that is significantly worse among students without access to textbooks
-In the northwest region of Cameroon, a local development project has made school books available to more than 27,000 children in rural primary schools, which provides the potential to hugely enhance a student’s academic performance
-Since 2005, the number of primary school students in the northwest region with access to books has increased from 15% to 25%
“if you think education is expensive, try ignorance” Manjong Sixtus, Delegate for Basic Education, Donga-Mantung
During the 2010 – 2011 academic year, 95 schools participated in the program that has made school books available to children in rural primary schools. But, thanks to a US$20,000 (XAF 10,470.900) grant awarded during the 2011 Development Marketplace competition in Cameroon, KFC has been able to extend the program to 15 new schools during the 2011-2012 academic year, bringing the total number of participating schools to 110 and reaching 27,500 children.