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South Asia: A bright spot in darkening economic skies?

Hartwig Schafer's picture
South Asia is set to remain relatively insulated from some of the rising uncertainties that are looming large on the global economic horizon. The region will retain its top spot as the world’s fastest-growing region. The Siddhirganj Power Project in Bangladesh. Credit: Ismail Ferdous/World Bank

If, like me, you’re a firm believer in New Year’s resolutions, early January ushers in the prospect of renewed energy and exciting opportunities. And as tradition has it, it’s also a time to enter the prediction game.
 
Sadly, when it comes to the global economy, this year’s outlook is taking a somber turn.
 
In the aptly titled Darkening Skies, the World Bank’s new edition of its twice-a-year Global Economic Prospects report shows that risks are looming large on the economic horizon.
 
To sum up:  In emerging market and developing economies, the lingering effects of recent financial market stress on several large economies, a further deceleration in commodity exporters are likely to stall growth at a weaker-than-expected 4.2 percent this year.
 
On a positive note, South Asia is set to remain relatively insulated from some of these rising global uncertainties and will retain its top spot as the world’s fastest-growing region.
 
Bucking the global decelerating trend, growth in South Asia is expected to accelerate to 7.1 percent in 2019 from 6.9 percent in the year just ended, bolstered in part by stronger investments and robust consumption.  

Among the region’s largest economies, India is forecast to grow at 7.5 percent in fiscal year 2019-20 while Bangladesh is expected to moderate to 7 percent in fiscal year 2018-19. Sri Lanka is seen speeding up slightly to 4 percent in 2019.
 
Notably, and despite increasing conflicts and growing fragility, Afghanistan is expected to increase its growth to  2.7 percent rate this year.

In this otherwise positive outlook, Pakistan’s growth is projected to slow to 3.7 percent in fiscal year 2018-19 as the country is tightening its financial conditions to help counter rising inflation and external vulnerabilities.

However, activity is projected to rebound and average 4.6 percent over the medium term.

Stronger social accountability, key to closing “human capital gap”

Jeff Thindwa's picture



With the creation of the World Bank’s Human Capital project and launch of the Human Capital Index in October 2018 it is fitting for social accountability practitioners to ask how countries would be able to close the ‘human capital gap’ and to be accountable for their efforts?

The future drivers of growth in Rwanda

Kristalina Georgieva's picture
Photo: Rogers Kayihura/World Bank


At a press conference in Kigali, I took a question: is the country’s Vision 2050 is achievable?
 
We had just launched a new study, The Future Drivers of Growth Report, that was jointly produced by the World Bank and the Government of Rwanda. The question was well-asked, since the study explores Rwanda’s goal to become an Upper-Middle Income country by 2035, and a High-Income Country by 2050.

Higher education institutions as drivers of innovation and growth in Azerbaijan

Igor Kheyfets's picture
Azerbaijan Education

It’s a cold spring day in Baku, and several students from Azerbaijan State Oil and Industry University (ASOIU) are huddled around a laptop trying to project an image onto their classroom wall.
 
Once the image is projected, one of the students “writes” on the surface of the classroom wall – as he would on the computer screen – using customized software called CamTouch, which allows the user to turn any surface into an interactive “smartboard”. The student also selects an icon and virtually opens a document with the help of a special stylus.

A three-course meal in darkness: An ‘eye-opening’ experience for embracing inclusivity

Annette Akinyi Omolo's picture
During a recent “Dinner in the Dark” social experiment, Kenya’s governors, policy makers and legislators experienced first-hand some of the same challenges as people living with disabilities. Photo: World Bank

 “That tastes like fish.”

“There’s some avocado and tomato in it too!”

“What is that?”

These are some of the exclamations I heard from participants of a recent social experiment dubbed “Dining in the Dark” in Nairobi on November 13th as they ate the first course of their meal.

Moving Afghanistan’s Bamyan province forward

Mohammad Tahir Zuhair's picture
View of Bamyan Province, Afghanistan
View of Bamyan city, Bamyan Province. Photo Credit: Rumi Consultancy​/ World Bank

When people think of Afghanistan, what comes to their minds are images of decades of war and insecurity.

True, Afghanistan has suffered a long history of upheaval

But there has been significant progress in rebuilding a strong, independent, and modern nation since 2001.

And in light of our nation’s turbulent history, it is sometimes easy to forget how far Afghanistan has come.

Just two month ago in October, over four million voters cast their ballots in parliamentary elections—with millions more looking forward to voting in the upcoming presidential election in 2019.

Unforgettably, 2018 also brought the unprecedented three-day ceasefire during Eid, a rare glimpse of complete peace that continues to give hope to many of us.

As Governor of Bamyan Province, one of my goals is to present a different image of my country to the world—one of progress and possibility in the face of adversity.

Many people have never heard of Bamyan. Neither do they know its longstanding and well-deserved reputation as one of Afghanistan’ safest provinces.

Our residents take pride in the fact that we haven’t experienced chaos, war, or insurgency against the government in 17 years.

And as Governor, I have witnessed the importance residents put on civil society, which has been vital to implementing successful development projects in the province.

Against all odds: 16 inspiring heroes from Nepal

Renu Chhetri's picture
As the 16 Days of Activism Against Gender-Based Violence is marked worldwide, we present to you stories of 16 inspiring heroes from Nepal. They are crusaders and pioneers, leaders and visionaries who share one common trait – a remarkable journey in their path towards equality and empowerment. They belong to diverse backgrounds, cultures, castes and groups. Yet all of them have stood against odds and managed to make a difference in many lives.

Each of the personalities is carefully chosen as a representative character with experiences that motivate and resonate with us. These Nepali heroes deserve to be read about, known and lauded for their efforts.
 



16 Days of Activism Against Gender-Based Violence is an international campaign to challenge violence against women and girls.

The campaign runs every year from 25 November, the International Day for the Elimination of Violence against Women, to 10 December, Human Rights Day.

The World Bank Group believes that no country, community, or economy can achieve its potential or meet the challenges of the 21st century without equal participation of women and men, girls and boys.

So
here we bring to you stories of 16 heroes that have contributed more than their share in empowering themselves, their communities and nation.

Milk fortification in India: The journey so far

Edward W. Bresnyan's picture
 NDDB
In India alone, 185 million people don’t get enough nutrients. This hidden hunger is especially pervasive among children. as more than 70 percent of India’s children under five are deficient in Vitamin D, and 57 percent of all children in the country lack adequate levels of Vitamin A. Credit: NDDB
Globally, more than two billion people are deficient in key micronutrients, which are essential to their good health.
 
In India alone, 185 million people don’t get enough nutrients.
 
This hidden hunger is especially pervasive among children. More than 70 percent of India’s children under five are deficient in Vitamin D, and 57 percent of all children in the country lack adequate levels of Vitamin A. 
 
These deficiencies have contributed to high levels of stunting, wasting and underweight children.
 UNICEF 
Global micronutrient deficiency (as a percentage of the population). Two billion people in the world lack key micronutrients such as Vitamin A or iron. South Asia has the most critical malnutrition levels. Source: UNICEF 


Micronutrient availability can make or break a balanced diet
 
If accessible and affordable, nutritional supplements taken in the form of capsules or tablets can mitigate the symptoms of hidden hunger. But they can become toxic if consumed in large amounts.  
 
Unlike supplements, food fortification is a simple, preventive and low-cost approach to curb micronutrient deficiencies.
 
But except for mandatory iodine fortification of salt, India lags in adopting food fortification as a scalable public health intervention.  
 
This is a missed opportunity as a glass of fortified milk (320g) can provide approximately 34 percent of the recommended daily allowance of Vitamin A and 47 percent of Vitamin D.
 
In 2016, the Food Safety and Standards Authority of India released standards for the fortification of five staple food items: rice, wheat, salt, oil, and milk. Further to that, regulations are now in place to fortify milk variants such as low fat, skimmed, and whole milk with Vitamin A and D.   
 
But despite its significant health benefits, and while established for more than three decades by companies such as Mother Dairy, a subsidiary of the National Dairy Development Board (NDDB), milk fortification is not yet common practice across the Indian milk industry.
 
To fill that gap, NDDB partnered in 2017 with the South Asia Food and Nutrition Security Initiative (SAFANSI), the World Bank, and The India Nutrition Initiative, Tata Trusts to explore the possibilities of large-scale milk fortification in India.
 
Over the last twelve months, this collaboration has enabled ten milk federations, dairy producer companies, and milk unions across the country to pilot milk fortification for their consumers. Fifteen others have initiated the process.

After three decades of transformation in Georgia – what’s next for the jobs market?

Florentin Kerschbaumer's picture
Georgia Job Market
Celebrating his 60th birthday recently, my father chatted with me about his career and getting his first job. He graduated as an engineer in the 1970s in Austria and faced very different employment opportunities to those I faced some decades later. There were five construction firms, all just around the corner from his home, to which he could apply for a job at that time.

When I finished graduate school in 2016, I applied for work with organizations in five different countries around the world. Suffice to say, the labor market in which my generation is competing is vastly different and far more globalized than the one my dad faced.

Act now for a brighter future for the Afghan people

Hartwig Schafer's picture
Today, over 8.5 million students attend school–over 40% of them girls
Photo Credit: Rumi Consultancy/ World Bank

In 2001, only one million Afghan children attended school–none of them girls. Today, over 8.5 million students attend school–over 40% of them girls.

Amina, a 9th grade student, is one of over 3 million girls that now attend school through the contributions of the Afghan people and support from the international community.

"I have seen many improvements at my school. We are learning more now through better teaching methods and materials,” she said. Amina is one of the millions of Afghans whose lives have improved and has great hopes for the future.

As the first country that I visited after becoming the World Bank’s Vice President for the South Asia Region in July 2018, Afghanistan impressed me with its resilient people and achievements in spite of challenges, notably in education, health, and infrastructure.

The country has immense potential. Located in the center of a fast-growing region blessed with a young population and abundant natural resources, Afghanistan can achieve rapid growth and huge improvements in living standards through sound planning and tight implementation.


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