Syndicate content

world bank

Financing Needs Cannot Be Met Without Private Sector's Help

Nazaneen Ismail Ali's picture
 
Photo: Dana Smillie / World Bank


To maintain current growth rates and meet demands for infrastructure, developing countries will require an additional investment of at least an estimated US$1 trillion a year through 2020. In the Mashreq countries, the required infrastructure investment for electricity alone is estimated at US$ 130 billion by 2020, and an additional US$108 billion by 2030.
 
These gigantic financing needs will continue to place a huge burden on government budgets. Simply put, they cannot be addressed without private sector participation. Public-private partnerships (PPPs) can help to close this growing funding deficit and to meet the immense demands for new or improved infrastructure and service delivery in sectors like water, transport, and energy (among others). In countries with diverse and numerous needs,PPPs can fill gaps in implementation capacity as well as the scarcity of public funds.

Three Reasons Procurement is Essential for Development

Philipp Krause's picture

Public procurement is not among the most popular topics in development circles. However, consider just these three ways in which procurement is probably one of the most indispensable elements that make up a truly capable state:

First, without effective procurement, hospitals wait for drugs, teachers for textbooks, and cities for roads. Whenever a news item surfaces about drugs shortages in hospitals, schools without textbooks or failing road networks, the reader may be looking at a procurement problem. Without efficient procurement, money gets wasted on a very large scale. Many developing countries channel significant proportions of their budgets through the procurement system – even marginal savings can add up very fast. Third, public procurement is a part of the government that citizens see every day. Lack of transparency and corruption in procurement directly affects citizens, and the losses to corruption are estimated in the billions of dollars every year. Corruption in procurement is a big problem that affects rich countries as well.   
  

​How Open Data Helps Detect Disease Outbreak

Samuel Lee's picture

 HealthMap.org

The outbreak of disease is often a latent but hard-hitting global concern, as currently exemplified by the flurry of anxiety swirling around Ebola. Many efforts have sprung up to fight spread of the disease, including the World Bank which has recently committed $400 million to said cause. While the growing human cost of the disease is distressing enough, if Ebola is not contained, the World Bank has estimated an additional economic cost of $32.6 billion to the West Africa region.
 
So what can open data do in the health sector?
 
To find out, we recently spoke with Clark Freifeld, co-founder of HealthMap.org, a web-based tool that has been in the news for detecting Ebola 9 days before the World Health Organization officially announced it. Started in 2006 at Boston Children's Hospital, HealthMap uses public health, media, and open data sources to provide real-time information and alerts about disease outbreak based on a number of filters, including location. 

Accountancy: Framing the Future

Samia Msadek's picture

 

Strong and effective financial reporting rarely grabs headlines, but the vulnerabilities created by weak or ineffective systems of financial reporting certainly do – a number of well-publicised accounting scandals come quickly to mind. 

At the Governance Global Practice we are working to ensure that developing countries grow their economies on solid foundations, with appropriate accountability frameworks that are effectively enforced.

Key to driving change in this area is the global accountancy profession and I am looking forward to meeting with leaders from many developing countries at the upcoming Accountancy Development for Results global event in Rome on November 10. This will take place on the occasion of the World Congress of Accountants.

New Fiscal Transparency Initiatives Are Key to Good Governance

Mario Marcel's picture



The last 10 years have seen turbulent economic times. The global economic crises was rooted, in part, in standards for guiding private sector behavior and setting economic policy that failed to meet emerging  challenges and risks. One of the lower profile, but important, consequences has been to reexamine the fiscal standards that have guided fiscal policy and management practices.

On October 6, 2014 the International Monetary Fund, at a joint event with the World Bank, launched its new Fiscal Transparency Code (FTC) and Evaluation following two years of intensive analysis and consultation. I congratulate the IMF on creating a set of standards that capture the quality of fiscal reports and data, are graduated to reflect different levels of country capacity, and more comprehensively covers fiscal risks.

What’s the Secret to Institutions Successfully “Taking Root”?

Elisabeth Huybens's picture


From August 2002, just months after Timor-Leste gained independence, to April 2006, I was the World Bank’s Country Manager for Timor-Leste and thus eyewitness to an unfolding state-building process. The experience affected me profoundly as a development professional. In the short time I lived in Timor-Leste, and notwithstanding daunting circumstances, I saw some agencies, in particular the Ministry of Health and the Central Bank, grow into institutions that delivered results and broadly gained the trust of the population. When community violence erupted in 2006, the Ministry of Health responded effectively, and the Ministry of Social Solidarity repurposed itself around the drawn out displacement process that followed. 
 
My observation of this process is what inspired Institutions Taking Root, a new report that illustrates how institutions can become effective even in the most fragile of circumstances. The report looks at some public institutions that do manage to deliver results, earn legitimacy among citizens, and forge resilience.  While the specific experiences of these agencies vary from country to country, learning more about the practices and policies that contribute to their success can reveal important clues about how institutions grow stronger and take root in fragile contexts.

​Illicit Financial Flows: A Wake-Up Call to Action

Mario Marcel's picture



One trillion dollars. That’s a big number. It’s hard to ignore.

One trillion dollars, according to estimates by Global Financial Integrity, is the amount lost every year by developing countries through illicit financial outflows connected to trade mispricing, bribery, theft, kick-backs, tax evasion, organized crime, and trafficking of drugs, weapons, and humans. This means that for every one US dollar developing countries receive in external assistance, ten US dollars are lost to illicit financial flows (IFFS). These estimates should be treated with caution—it is difficult to measure what is designed to remain hidden. But even if we accept that these estimates are uncertain, no one doubts that IFFs are huge.

IFFs drain hard currency reserves, heighten inflation, reduce tax collection, discourage investment, and weaken free trade.  These practices stifle poverty alleviation efforts, undermine the integrity of government, and damage the foundations of society.

Nine Lessons for Bridging the Gap between Cities and Citizens

Soren Gigler's picture

 Jerry Kurniawan / World Bank

Recently, the lack of economic and social opportunities in many urban areas have triggered that the urban poor express a greater demand for a voice in local decision-making that affect their lives. An increasing number of city governments are realizing that open and responsive public institutions are imperative to achieving better and more sustained development results.
 
Important questions however remain: What is the impact of open government approaches to improving public services to poor communities? What are some examples of where the emerging Open Government approach has made a difference in the lives of the urban poor?

How Young People Can Usher In the New Era of Governance

Joseph Mansilla's picture

  Simone D. McCourtie/World Bank

Four years ago, I became part of the newly formed Global Youth Anti-Corruption Network (GYAC). It was then a group of about 50 civil society leaders, journalists, and musicians (or “artivists”) who, using various methods, are fighting corruption in their home countries. I was part of the pack of six journalists. After a week of training and networking in Brussels, I came home to the Philippines more inspired and energized than I could remember. I was baptized and inducted into the anti-corruption world, but could a freelance writer be really tipping the scale in ending corruption?

It’s Time for Youth and Governments to Fall in Love

Ravi Kumar's picture
World Bank Group Youth Summit, Photo by Simone D. McCourtie


On a Friday morning in December of 2011, Mohamed Bouazizi, a 26-year-old street vendor, started his day to sell fruits and vegetables from his cart in Sidi Bouzid, Tunisia. But he didn’t have a permit to sell and a policewoman asked him to hand over his cart. He refused. She slapped him.
 
Bouazizi then walked straight to a government building and set himself on fire. In Tunisia, “dignity is more important than bread,” said his sister. That same day, protests began, quickly spreading via mobile and internet. Soon demonstrations were everywhere in the country. About a month later, the president of Tunisia fled.
 
Tunisia inspired many in the Middle East to speak up and protest. We know this phenomenon as the Arab Spring. These protesters, mostly young, challenged their governments in at least 20 countries. Young people demanded accountability, opportunities and transparency.
 
Throughout history, young people have used protests to hold governments accountable. Now, their roles in governments are front and center. Today’s youth are poised for greatness: not only are they the largest demographic in the world but they're also the most connected and educated generation.


Pages