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Financial Sector

Economic and Social Empowerment is Believing in People’s Potential When No One Else Would!

Laila Tawfik Anaam's picture

Leaving university with a business degree back in 2010, my dream was to wow the business world with my enthusiasm and be the number one businesswoman in Yemen. Little did I know, within a year of working in the business sector, that my passion is not to make rich people richer nor to gain the title "number one businesswoman". My REAL passion in life is to be an influencer and a person who makes real positive impact in people's lives. Realizing that, I started to become a dedicated and aggressively motivated person who fights for economic and social empowerment in Yemen. Right there, I shifted my career focus and objectives from making an empire of my own to making it possible for people with potential, but fewer opportunities in life, to build their idea of an empire. 

Cross-border spillover effects of the G20 financial regulatory reforms: results from a pilot survey

Erik Feyen's picture

After the global financial crisis, the G20 set out on an ambitious financial regulatory reform agenda to strengthen the global financial system. With any type of regulatory framework, incentives are created. While these reforms will ultimately contribute to greater financial stability there is a risk that regulations will have unintended consequences and spillover effects by reducing the incentives to lend to countries with emerging markets and developing economies (EMDEs) where financing is critical to achieving the SGDs.

The Financial Stability Board (FSB) has been actively working to improve the evidence on any adverse effects of the post global crisis financial regulatory reforms. The World Bank works closely with the FSB to ensure the voice of developing countries are represented in these discussions. To complement the FSB’s efforts, our team conducted qualitative surveys in seven EMDEs that focused on the adverse impact of spillover effects that may take place in individual countries that are not required to implement the reforms themselves.

Maximizing finance for safe and resilient roads

Daniel Pulido's picture


Around the world, roads remain the dominant mode of transport and are among the most heavily-used types of infrastructure, accounting for about 80% of the distance travelled for individuals and 50% for goods.

Despite this intensive use, the funding available for road maintenance has been inadequate, leaving roads in many countries unsafe and unfit for purpose.

To make matters worse, roads are also very vulnerable to climate and disaster risk: when El Niño hit Peru in 2017, the related flooding damaged about 18% of the Peruvian road network in just one month.

It is no surprise then that roads are the sector that will require the most financing. In fact, the G20 estimates that roads account for more than half of the $15 trillion investment gap in infrastructure through 2040.

Millennials Welcome! Young women are revolutionizing the startup scene despite conflicts in MENA

Tobias Lechtenfeld's picture


Our team at the MENA Youth Platform recently had a conversation about women-and youth-led entrepreneurship in the MENA region, and for which emerging trends to look for. One thing is very clear: the next revolution could look very different.

Raising the bar on responsible tax for a sustainable future

Rajiv Joshi's picture



Editor’s note: The findings, interpretations and conclusions expressed herein are those of the authors and do not necessarily reflect the view of the World Bank Group, its Board of Directors or the governments they represent.


For business, the conversation around tax and sustainable development can be tough. Yet if we are to meet the Sustainable Development Goals (SDGs), reach our ambition to end poverty, reverse inequalities and curb climate change by 2030, serious action on taxation will be crucial. 

India's growth story

Poonam Gupta's picture

The World Bank is releasing its biannual flagship publication, the India Development Update. It takes stock of the Indian economy and assesses what it will take India to move to a higher growth trajectory.

The Update describes the state of the Indian economy, shares its perspective on the Indian growth experience and trajectory over the past two and a half decades, and analyses the near-term outlook for growth, the global economic outlook and its impact on the Indian economy.



The Update, to be formally launched on March 14, features a historic analysis of India’s economic performance in order to assess what it will take India to return to growth rates of 8 percent and higher on a sustained basis.

Can blockchain disrupt gender inequality?

Alicia Hammond's picture

Pakistan-woman-shopkeeper
Blockchain is the subject of considerable hype, thanks largely to the rise (and fall and rise...) of high profile digital currencies. Beyond this spotlight, development experts and innovators are exploring whether the technology behind cryptocurrencies can be leveraged to advance gender equality.
 
Blockchain is a distributed ledger technology  that facilitates peer-to-peer transactions without using an intermediary. (The technology is also notoriously difficult to follow, but we find this brief video helpful and this talk explains blockchain well, if you have a bit more time.) Put simply, the system is maintained by collaboration, code and sometimes competition. Many experts refer to Google Docs to explain the concept: multiple users can access the same document simultaneously and they can all see the changes. This feature potentially makes it suited for validating records and processing financial transactions in the absence of strong institutions.
 

What does the global economic outlook tell the debt managers?

M. Coskun Cangoz's picture
Global Economic Growth

2018 started with the good news. The World Bank’s Global Economic Prospects and the IMF’s World Economic Outlook both show that the global economy is in a recovery. Furthermore, it is expected that the upturn is broad-based as the growth is increasing in more than half of the world economies. Global Economic Prospects report that in advanced economies, growth in 2017 is estimated to have rebounded to 2.3 percent while emerging and developing economies (EMDEs) were projected to have higher-than-expected growth of 4.3 percent. Overall, global growth is projected to edge up to 3.1 percent in 2018.

Over the last decade debt managers, like the central bankers, fiscal policy managers and regulators, had to deal with the global financial crisis. During this period, while debt levels were increasing in many countries, thanks to the unconventional monetary policies, interest rates went down, maturities lengthen up to 100 years, and portfolio capital flows moved across markets. In the end, those were very unusual times. Now the question is: Is this the end of the global crisis? Are we back to the “normal” times?

Indeed, it doesn’t look so.

Bank ownership: Trends and implications

Bob Cull's picture

In the wake of the Global Financial Crisis (GFC), many wondered whether the strong pre-crisis trend toward greater internationalization in banking would be reversed and, more immediately, whether local state-owned banks had to assume a larger role in restoring banking stability and ensuring the delivery of credit. We revisit those conjectures in the light of new data on bank ownership and research on the post-Crisis period (Cull, Martinez Peria, and Verrier, 2018).

Railways are the future—so how can countries finance them?

Martha Lawrence's picture
Photo: Kavya Bhat/Flickr
As a railway expert working for the World Bank, I engage with many client countries that are looking to expand or upgrade their railway systems. Whenever someone pitches a railway investment, my first question is always, “What are your trains going to carry?” I ask this question because it is fundamental to railway financing. 

Railways are very capital intensive and increasingly need to attract financing from the private sector to be successful. That is why the World Bank recently updated its Railway Toolkit to include more information and case studies on railway financing. Here, in a nutshell are the key lessons about railway financing from this update. 

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