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Philippines

Carbon Expo: A marketplace to finance environmental change

Florian Kitt's picture

Carbon finance sounds boring and technical and not much fun. However, it actually does a lot of good and can help fund critical environmental preservation projects as well as introduce clean and renewable technologies in both developed and developing countries.

Video: Getting commuters onto bikes in the Philippines

James I Davison's picture

A couple weeks ago, blogger Chris Pablo wrote here about a project designed to get more people in the Philippines riding bicycles by creating and designating separate bike paths in Marikina City, a medium-sized city at the eastern edge of Metro Manila.

Chris writes:

The project, which started in 2001, seems to have achieved its demonstration effect. From a survey done in 2006, the share of bike trips to all trips in the city increased to 9.5%, from 4% in 1999. Bicycle ownership also grew.

The short World Bank-produced video below gives another look at the successful project:

Regional Finance Roundup: Updates on Indonesia, China, and the Philippines

James Seward's picture

We are finally starting to see some positive news around the East Asia and Pacific region, but it is too soon to begin to speak of "green shoots" of economic activity or reaching the bottom of the economic downturn in Asia. Although the Swine flu (one disease originating from animals that did not come from Asia!) and the nervousness about the condition of U.S. banks had a slightly negative impact on financial markets in Asia this past week, the stock markets are still up by about 12% for the year – led by Indonesia (21.6%), Korea (11.8%), and China (9.4%).

Facing traffic and pollution, Philippines city invests in bicycles

Chris Pablo's picture

During the Martial Law years in the Philippines (1970s to early 1980s), there was a story widely shared (discreetly) about a popular TV variety show host who was made to ride the bicycle all day in a military camp. According to accounts, he apparently displeased the rulers at the time for making a quip about the government's running slogan that goes, "sa ika-uunlad ng bayan, disiplina ang kailangan."Loosely translated, it means, "for the country to progress, discipline is what is needed."

What the TV host jokingly proclaimed was – "sa ika-uunlad ng bayan, bisikleta ang kailangan" ("what the country needs for progress is the bicycle"). True or not, the story fascinates me to this day. First, because some people just can't take a good joke. More importantly, because I thought the TV host must be a real visionary! He may have foreseen the traffic and pollution conditions some 15 years in the future and the need for cheaper alternatives for mobility.

Indonesia's $100 billion budget: Is debt an issue?

Wolfgang Fengler's picture

I have received many encouraging responses to my first blog. Thank you. This time, let's look at Indonesia's budget. Last year, Indonesia's budget reached the magical threshold of US$100 billion.

Remittances and the Philippines' economy: the elephant in the room

Eric Le Borgne's picture

In the World Bank's latest semi-annual economic update for the East Asia and Pacific region, titled "Battling the Forces of Global Recession" and released today, we mentioned the Philippine economy's resilience, both in absolute and relative terms.

East Asian and Pacific countries look to China for possible recovery, says World Bank report

James I Davison's picture

Despite a surge in joblessness and a regional drop of the forecasted GDP growth to 5.3 percent expected in 2009, developing East Asian and Pacific countries may be able to look to China for hope during the current global economic slowdown. That's according to the World Bank's April 2009 edition of the East Asia & Pacific Update, which was released today.

The latest half-yearly assessment of the region's economic health, aptly titled "Battling the Forces of Global Recession", says there have already been signs of China's economy bottoming out by mid-2009. China's possible subsequent recovery in 2010, concludes the report, could contribute to the entire region's stabilization, and perhaps recovery.

There are a number of ways to review the findings of the report on the World Bank's website. Head over to worldbank.org/eapupdate to view specific chapters or download the full report. For an intimate view of people who are being affected by the ongoing financial crisis in East Asian and Pacific countries – including Cambodia, Thailand, Mongolia and the Philippines – check out "Faces of the Crisis". You can also view hi-res graphs from the report here.

Also, check back here in the next day or so for blog posts written by World Bank economists based in Cambodia and Lao PDR.

UPDATE: For country-specific expert perspectives on the new World Bank repot, check out blog posts from World Bank economists based in Cambodia and Laos. Stéphane Guimbert considers what contraction might look like in Cambodia. And Katia Vostroknutova takes a look at Laos' economy, which is less affected by crisis, but faces the increasing challenge of sustaining growth during the crisis.

Regional roundup: Finance in East Asia – April 3

James Seward's picture

I'm sorry it has been a while since the last East Asia & Pacific regional roundup. A lot has happened, so let's get right to it. As usual, the downward trends continue across the region.

Remittances to East Asia & Pacific expected to fall by 4 to 7.4 percent in 2009

James I Davison's picture

As jobs become fewer and income harder to come by for immigrants in developed countries, the amount of money they send back home, known as remittances, is expected to fall this year more than previously expected. The Bank's Migration and Remittances team announced the latest outlook last week on its People Move blog: "We now expect a sharper decline of 5-8 percent in 2009 ... compared to our earlier projections," wrote economist Dilip Ratha, who leads the team.

While the steepest drops in remittances are expected for Europe and Central Asia – down 10-12 percent – countries in the East Asia and Pacific region are also forecasted to fall by 4-7.5 percent in 2009. Two of the world's biggest recipients of remittances are China, which received $34 billion in 2008, and the Philippines, which saw $18 billion last year. Other big receipients in East Asia include Indonesia, Vietnam and Thailand, according to the Bank's Migration & Remittances Factbook 2008.

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