On May 6th, a father left to get food for his family but never imagined the horror he would face when he returned. Like any other day, and any other house in their neighborhood, his children lit candles to be able to study as there was no electricity from the national grid. However this time, fire from the candles ripped through the house killing three of his children, all under six, and leaving one critically injured. The tragedy has led to harsh accusation between the rival Palestinian factions governing Gaza and the West Bank over who is responsible for power cuts.
Translations available in Chinese and Spanish.
Many of you are already familiar with the PPP (Public-Private Partnerships) Group’s Private Participation in Infrastructure (PPI) Database. As a reminder for those who aren’t, the PPI Database is a comprehensive resource of over 8,000 projects with private participation across 139 low- and middle-income economies from the period of 1990-2015, in the water, energy, transport and telecoms sectors.
We recently released the 2015 full year data showing that global private infrastructure investment remains steady when compared to the previous year (US$111.6 billion compared with US$111.7 the previous year), largely due to a couple of mega-deals in Turkey (including Istanbul’s $35.6 billion IGA Airport (which includes a $29.1 billion concession fee to the government). When compared to the previous five-year average, however, global private infrastructure investment in 2015 was 10 percent lower, mainly due to dwindling commitments in China, Brazil, and India. Brazil in particular saw only $4.5 billion in investments, sharply declining from $47.2 billion in 2014 and reversing a trend of growing investments over the last five years.
- private sector
- Private Sector Development
- Global Economy
- Financial Sector
- The World Region
- South Asia
- Middle East and North Africa
- Latin America & Caribbean
- Europe and Central Asia
- East Asia and Pacific
- El Salvador
For the first time in history, the proportion of people living in extreme poverty has fallen below 10%. The world has never been as ambitious about development as it is today. After adopting the Sustainable Development Goals and signing the Paris climate deal at the end of 2015, the global community is now looking into the best and most effective ways of reaching these milestones. In this five-part series, I will discuss what the World Bank Group is doing and what we are planning to do in key areas that are critical for ending poverty by 2030: good governance, gender equality, conflict and fragility, preventing and adapting to climate change, and, finally, creating jobs.
Good jobs are the surest pathway out of poverty. Research shows that rising wages account for 30 to 50% of the drop in poverty over the last decade. But today, more than 200 million people worldwide are unemployed and looking for work — and many of them are young and/or female. A staggering 2 billion adults, mostly women, remain outside the workforce altogether. In addition, too many people are working in low-paying, low-skilled jobs that contribute little to economic growth. Therefore, to end poverty and promote shared prosperity, we will need not just more jobs, but better jobs that employ workers from all walks of society.
- end poverty
- International Development Association (IDA)
- fragile countries
- Fragile and Conflict Afflicted States
- private sector
- financial inclusion
- Information and Communication Technologies
- The World Region
Last week with the support of the World Bank Group’s (WBG) Scaling Solar initiative. The auction for 100 MW (2x50 MW) resulted in a price as low as 6 cents/kWh.
This is good news for the country, which much like the rest of Sub-Saharan Africa faces acute electricity shortages. .
Zambia’s solar auction result followed a series of headline-making auctions in India, Mexico, Peru, and Dubai. In Dubai’s case, the price was as low as 3 cents/kWh -- the lowest price ever offered for solar power. Solar auctions are effectively a competitive bidding process to build power plants and supply a specific quantity of electricity at a pre-agreed price over a specified period of time.
Altruistic and marketing motives aside, a private operator of infrastructure (in particular in an arrangement as highly structured as PPP) is likely to implement renewable energy technology only if profitable and/or mandated in the PPP arrangements. Critics are often angry that private operators think first about the bottom line, rather than make decisions based on the best interests of the environment. This is unfair to some extent, as private companies are often committed to climate friendly efforts (whether truly altruistic or for marketing opportunities). But as a general premise, the private sector will do what you pay it to do.
For the first time in history, the number of people living in extreme poverty has fallen below 10%. The world has never been as ambitious about development as it is today. After adopting the Sustainable Development Goals and signing the Paris climate deal at the end of 2015, the global community is now looking into the best and most effective ways of reaching these milestones. In this five-part series I will discuss what the World Bank Group is doing and what we are planning to do in key areas that are critical for ending poverty by 2030: good governance, gender equality, conflict and fragility, preventing and adapting to climate change, and, finally, creating jobs.
Seawater is rising in coastal Bangladesh. The soil contains more and more salt as the sea encroaches on the land. As a result, farmers see their crops declining. Communities are hollowing out, as working-age adults move to cities. Freshwater fish are disappearing, reducing the amount of protein in local diets. And in the dry season, mothers have to ration drinking water for their children – in some areas, to as little as two glasses a day.
Climate change is finally being taken seriously in the developed world, but it is generally seen as a future threat, to be managed over the coming years. For poor people in poor countries, particularly those living along coastlines, in river deltas, or on islands, it is a clear and present danger – and increasingly, a dominant fact of life.
Imagine for a moment that the most advanced spaceship visited Earth in full view of the planet’s inhabitants. From this spaceship, a humanoid life form named Klaatu emerges, followed shortly after by a menacingly large robot. Klaatu’s message to the people of Earth is revealed in one of the climactic exchanges of this story with the protagonist, Helen Benson, a young female scientist that was at the forefront of her field:
Helen Benson: I need to know what’s happening.
Klaatu: This planet is dying. The human race is killing it.
Helen Benson: So you’ve come here to help us.
Klaatu: No, I didn’t.
Helen Benson: You said you came to save us.
Klaatu: I said I came to save the Earth.
Helen Benson: You came to save the Earth… from us. You came to save the Earth from us.
Klaatu: We can’t risk the survival of this planet for the sake of one species.
Helen Benson: What are you saying?
Klaatu: If the Earth dies, you die. If you die, the Earth survives. There are only a handful of planets in the cosmos that are capable of supporting complex life…
Helen Benson: You can’t do this.
Klaatu: …this one can’t be allowed to perish.
Helen Benson: We can change. We can still turn things around.
Klaatu: We’ve watched, we’ve waited and hoped that you would change.
Helen Benson: Please…
Klaatu: It’s reached the tipping point. We have to act.