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Reforms Sri Lanka needs to boost its economy

Idah Z. Pswarayi-Riddihough's picture
 Joe Qian/World Bank
The Colombo Stock Exchange. Credit: Joe Qian/World Bank

Many Sri Lankans understand the potential benefits of lowering trade costs and making their country more competitive in the global economy. The majority, however, fear increased competition, the unfair advantage of the private sector from abroad and limited skills and innovation to compete.

Yet, Sri Lanka’s aspirations cannot be realized in the current status quo.  

While changes in trade policies and regulations will undeniably improve the lives of most citizens, I’m mindful that some are likely to lose. However, many potential gainers of the reforms who are currently opposed to them are unaware of their benefits.

Implementing smart reforms means that government funds will be used more effectively for the people, improve access to better healthcare, education, basic infrastructure and provide Sri Lankans with opportunities to get more and better jobs. Let me focus on a few reforms that I believe are critical for the country.  First, Sri Lanka needs to seek growth opportunities and foreign investment beyond its borders.    

First, Sri Lanka needs to seek growth opportunities and foreign investment beyond its borders.

Experience shows that no country in the world today has been able to create opportunities for its population entirely within its own geographic boundaries. To succeed in this open environment, Sri Lanka will need to improve its skills base, better understand supply and demand chains as well as produce higher quality goods and services

Experience shows that no country in the world today has been able to create opportunities for its population entirely within its own geographic boundaries. To succeed in this open environment, Sri Lanka will need to improve its skills base, better understand supply and demand chains as well as produce higher quality goods and services.

Fresh thinking on economic cooperation in South Asia

Nikita Singla's picture
 Aamir Khan/ Pakistan, Sreerupa Sengupta/ India, Sanjay Kathuria/ World Bank, Mahfuz Kabir & Surendar Singh/ Bangladesh) Photo By: Marcio De La Cruz/ World Bank
Young Economists sharing the stage with Sanjay Kathuria, Lead Economist and Coordinator, Regional Integration (Left to Right: Aamir Khan/ Pakistan, Sreerupa Sengupta/ India, Sanjay Kathuria/ World Bank, Mahfuz Kabir/Bangladesh & Surendar Singh/ India). Photo by: Marcio De La Cruz/ World Bank


That regional cooperation in South Asia is lower than optimal levels is well accepted. It is usually ascribed to – the asymmetry in size between India and the rest, conflicts and historical political tensions, a trust deficit, limited transport connectivity, and onerous logistics, among many other factors.

Deepening regional integration requires sufficient policy-relevant analytical work on the costs and benefits of both intra-regional trade and investment. An effective cross-border network of young professionals can contribute to fresh thinking on emerging economic cooperation issues in South Asia.

Against this background, the World Bank Group sponsored a competitive request for proposals.  Awardees from Bangladesh, India, and Pakistan, after being actively mentored by seasoned World Bank staff over a period of two years, convened in Washington DC to present their new and exciting research. Research areas included regional value chains, production sharing and the impact assessment of alternative preferential trade agreements in the region.

Young Economists offer fresh thoughts on economic cooperation in South Asia

Mahfuz Kabir, Acting Research Director, Bangladesh Institute of International and Strategic Studies and Surendar Singh, Policy Analyst, Consumer Unity Trust Society (CUTS International) presented their research: Of Streams and Tides, India-Bangladesh Value Chains in Textiles and Clothing (T&C). They focus on how to tackle three main trade barriers for T&C: a) high tariffs for selected, but important goods for the industries of both countries; b) inefficient customs procedures and c) divergent criteria for rules of origin classification.

Sreerupa Sengupta, Ph.D. Scholar at Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi discussed Trade Cooperation and Production Sharing in South Asia – An Indian Perspective. Reviewing the pattern of Indian exports and imports in the last twenty years, her research focuses on comparing the Global Value Chain (GVC) participation rate of India with East Asian and ASEAN economies. Barriers to higher participation include a) lack of openness in the FDI sector; b) lack of adequate port infrastructure, and long port dwell times; and c) lack of Mutual Recognition Agreements (MRAs).

Aamir Khan, Assistant Professor, Department of Management Sciences, COMSATS Institute of Information Technology, Islamabad presented his work on Economy Wide Impact of Regional Integration in South Asia - Options for Pakistan. His research analyzes the reasons for Pakistan not being able to take full advantage of its Free Trade Agreement (FTA) with China, and finds that the granting of ASEAN-type concessions to Pakistan in its FTA with China would be more beneficial than the current FTA arrangement. The work also draws lessons for FTAs that are currently being negotiated by South Asian countries.

Education is the way forward for Afghanistan

Mohammad Homayoon Rahmani's picture
The Education Quality Improvement Program provides block grant support to the construction of school buildings and other facilities such as laboratories, libraries and computer labs. This improved studying environment has encouraged almost all families to send their children to schools in many districts of Balkh province. Photo Credit: Fardin Waezi/ World Bank


Someone wise once said that education is the foundation of a country’s progress. As every Afghan knows and feels, after four decades of conflict and violence, progress is exactly what this country needs to get back on its feet.
 
I have always had a deep interest in making my social context better and this is the reason why I joined the Education Quality Improvement Program (EQUIP), which aims to improve access and quality of education for Afghans. I joined the EQUIP team in the program’s second phase, which started in January 2008.
 
Through EQUIP, we have been working with communities to change their views and perceptions on education, especially in villages. I remember when I joined the team in 2010, many people would come and tell us they did not want to send their girls to school. But slowly EQUIP won them over.
 
Now, we can proudly say that we have the full support of communities everywhere in Balkh Province. For example, we have never had to buy land to construct a school in any district in Balkh. Every single time, it has been the people who bought or donated land and invited us to construct the building, even in the poorest regions.

Can agriculture create job opportunities for youth?

Luc Christiaensen's picture
Many good job opportunities on and off the farm remain in agriculture. Can agriculture provide job opportunities for youth? 

Technology and the internet are probably the first things that come to mind when you think about the future of work for young people; not agriculture or farming. This makes historic sense, as agriculture sheds labor when countries develop. And the traditional ways of producing food do not look particularly sexy. Yet, technology and the internet are also opening up opportunities for agriculture, and urbanization and changing diets are calling for new ways to process, market and consume our foods. So, can agriculture provide job opportunities for youth?

What do "Sustainable Cities" look like to you? Enter our global photo contest by October 6 (deadline extended to October 15)

Dini Djalal's picture
Also available in: Español | Français | العربية | 中文
Enter our global photo contest by October 15

Building healthy and well-functioning cities and communities that continue to thrive for generations is the goal of the Global Platform for Sustainable Cities (GPSC), a collaboration that unites cities across continents in their endeavors towards achieving sustainable, resilient development.
 
What would these cities and communities look like to you? The GPSC, its partner cities, and the Global Environment Facility (GEF) invite you to articulate sustainability through the medium of photography.


Whether it be elements of your city that represent sustainability, or a moment in time that captures the spirit of inclusive, resilient, and sustainable urban development, we invite you to share your vision with us, through your photographs.
 
The winners of the photo competition will each win exciting prizes: a $500 voucher for purchasing photography equipment, as well as a chance to be recognized at an award ceremony and have their photographs featured in the World Bank / GPSC’s online and print materials.
 
Here’s how the Sustainable Cities Photo Contest will work:

Does hope have a price? Uganda’s refugee crisis

Kevin Watkins's picture
Talking to Venetia*, 9, a child refugee from South Sudan, about what she wants to be when she grows up.
Talking to Venetia*, 9, a child refugee from South Sudan, about what she wants to be when she grows up. © Save the Children UK

Value for money is the defining international aid mantra of our age – and rightly so. These are fiscally straitened times in donor economies. We need to ensure that every last aid dollar delivers results for the world’s poorest people. But what price do you put on hope?
 
That’s a question I hope donors ask themselves after gathering in June 2017 in Kampala, Uganda for a Solidarity Summit on refugees convened by the President of Uganda, Yoweri K. Museveni, and the UN Secretary General, Antonio Guterres. The international community pledged $352 million, which Guterres said was a good start. 

In the Dominican Republic, Child Marriage Is Not Only a Moral Issue, But an Economic One as Well

Quentin Wodon's picture



In the Dominican Republic, more than one third of young women aged between 18 and 22 get married or form an informal union before turning 18, while one in five has already given birth before reaching that age. Child marriage is not only a moral issue; it also has economic impacts for the country.

Gender equality hits the highway in Northern Brazil

Satoshi Ogita's picture


Young women, some still girls, await long-haul truck drivers that stop by a gas station in the State of Tocantins, located in the North region of Brazil. Here, impoverished women and girls look to get extra cash in exchange for sex, a phenomenon seen on a daily basis in small towns along the federal highway BR-153. The high dropout rate of girls and gender-based violence are commonplace there. While better road infrastructure brings more economic opportunities to the region, higher road traffic and activity can also increase social risks like gender-based violence.   
 
A World Bank’s multisectoral project in Tocantins seeks to improve efficiency of road transport, in particular, state and rural road network, and to support institutional strengthening in the following five sectors: public administration, agriculture, tourism, environment, and education. While the project does not include any roadwork specifically on the highway BR-153, it aims at reducing existing risk of gender-based violence along the highway as part of the education component of the project.  
 
Schools play an important role in building respectful relations between girls and boys, challenging gender-based stereotypes and combatting discrimination that contributes to violence against women and girls. Accordingly, based on the level of the dropout rate and violence statistics, six high schools along BR-153 were selected to host a pilot initiative to improve awareness of gender-based violence and in the area.

Sri Lankan Winners and exciting news: #StoriesfromLKA photo contest!

Tashaya Anuki Premachandra's picture

The three winning pictures of the online campaign #StoriesfromLKA

World Bank Sri Lanka launched an online campaign titled #StoriesfromLKA during the month of June celebrating World Environment day “Connecting People to Nature”. The campaign included online interactions to learn about World Bank operations related to the environment and a photo competition to appreciate the natural beauty of Sri Lanka that needs to be preserved while Sri Lanka pursues a development drive.
This competition began on the 21st of June and aimed at showcasing the many talented photographers from Sri Lanka as well as celebrating the rich flora and fauna of the country. After the contest ended on June 30th, 167 entries were shortlisted. We asked you which photos were your favorites and you voted on your selections through social media. Your votes helped us narrow down the top three winners, here they are:

Education for education’s sake? The conundrum facing Palestinian youth

Aziz Atamanov's picture

When it comes to education and human development, the Palestinian territories have traditionally outperformed countries with similar GNI per capita as well as its neighbors in the Middle East and North Africa region (figures 1 and 2). Despite facing one of the highest unemployment rates in the world and a severe lack of employment opportunities in the private sector, until 2010, Palestinian youth continued to invest in education.

Equipped with more education than any previous generation, young Palestinians are now moving into adulthood with uncertainty about what their futures might hold amidst a protracted risk of conflict and an economy with steadily rising unemployment.

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