Imagine that you live near one of 127 active volcanoes in Indonesia, threatened by the next eruption that could endanger your family. Imagine that your house stands in one of the most seismically-active zones in the world, or that your family lives in one of the 317 districts with high risks of flooding. This is a reality that at least 110 million Indonesians already face, and more could be affected due to the impacts of urbanization, climate change and land subsidence.
The country is known as having a ‘supermarket’ of disaster hazards. Over the past twenty years alone, the Indonesian government recorded over 24,000 disaster events that caused 190,500 fatalities, displaced almost 37 million people, and damaged over 4.3 million houses. The combined losses of these disasters totaled almost $28 billion, or around 0.3% of national GDP annually.
East Asia and Pacific
Working in public health brings me close to the stories of brave patients and dedicated medical staff. Very often we also conduct quantitative and qualitative assessments of case studies. In recent years, our work in Malaysia engages a public health concern that has gripped the world – HIV. Our findings have given us hope of winning the fight against the disease.
It is an unfortunate but fact of life that Indonesia often deals with the impacts of natural disasters. It was sadly evident again this week when I arrived in Jakarta to the unfolding disaster caused by the earthquake in Lombok, West Nusa Tenggara. My condolences go out to the families and friends of those who lost their lives.
While scientists are reluctant to say a specific natural disaster is caused by climate change, they say a changing climate is resulting in more extreme events around the world. That’s why at International Finance Corporation (IFC), the largest global organization working with the private sector in emerging markets, finding new avenues for climate financing is a key priority.
Green bonds offer a pathway. The world is witnessing a rapid growth in green bonds, dramatically increasing the flow of capital to green projects and bringing new financiers into the climate smart investment space.
Malaysia sebuah negara yang cukup cemerlang bersandarkan pelbagai ukuran pencapaiannya, begitu menurut Growth Commission, yang mengetengahkan Malaysia sebagai antara ekonomi paling pantas membangun di dunia. Malaysia telah beralih daripada sebuah ekonomi berpendapatan rendah dan berorientasikan pertanian kepada ekonomi moden yang berteraskan perdagangan, malah bakal mencecah status ekonomi berpendapatan tinggi dalam hanya beberapa tahun saja lagi. Dari sudut pandangan kasar pakar ekonomi, rata-rata menganggap Malaysia sedang pesat membangun. Pertumbuhan tercatat tinggi, yakni pada 5.9% tahun lepas dengan unjuran setinggi 5.4% tahun ini, sedangkan inflasi pula rendah, iaitu hanya 1.8% setakat Mei 2018. Pendapatan juga tercatat tinggi, bahkan bakal melepasi nilai AS$12,055 yang menandakan Malaysia telah berjaya keluar daripada perangkap status pendapatan sederhana.
Malaysia is a remarkable country by many metrics, highlighted by the Growth Commission as one of the world’s fastest growing economies. It has transformed itself from a low-income, agriculture-oriented economy, to a modern, trade-oriented one that is on the cusp of reaching high-income status within the next few years. To most economists, especially those looking from the outside, Malaysia appears to be doing very well. Growth is strong, at 5.9% last year and projected at 5.4% this year. Inflation is low, at just 1.8% in May 2018, and incomes are high, approaching the magic US$12,055 threshold that marks an exit from the middle-income status that so many see as a trap.
As an urban dweller in Beijing, a rapidly modernizing city, my daily life would look like a science-fiction movie for people from just a few decades ago. I use my mobile phone to buy groceries, pay for meals, take photos, access the subway, and find my way to unknown places.
The task of preparing a viable, feasible, and sustainable infrastructure project can be a daunting one filled with many challenges. Throw in the need to incorporate an element of connectivity and the challenges only multiply in number and complexity. Indeed, during the annual meeting of the Global Infrastructure Connectivity Alliance (GICA), held in January 2018 at the OECD headquarters in Paris, GICA members identified several of these challenges, including the need to share best practices, ensure robust project preparation, and address the financing gap.
While multilateral development banks (MDBs) and international financial institutions (IFIs)—including GICA members Asian Infrastructure Investment Bank (AIIB), Eurasian Development Bank (EDB), Asian Development Bank (ADB), and the World Bank Group (WBG)—have the experience and financial or analytical tools to help, actually finding or accessing these resources can be difficult.
Is there a way to bridge this knowledge gap?