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Bond management, the global financial crisis, and girls' education: Which one of these things is not like the others?

Halsey Rogers's picture

At a time of fundamental uncertainty on global financial markets, how should the World Bank help countries respond? Mohamed El-Erian, CEO of the global bond management giant PIMCO, took on this question during his recent talk at the World Bank, which was part of the PREM seminar series. One of his answers may come as a surprise: Invest in girls' education!

First, some background: El-Erian is one of the most influential figures in the world of finance. His firm manages $1.8 trillion in assets, an amount that comfortably exceeds Japan's foreign-exchange reserves, and he's on Foreign Policy magazine's list of Top 100 global thinkers. As a longtime former IMF official, El-Erian is also intimately familiar with international financial institutions.

A WISE Focus on Innovative Solutions to Ensure Learning

Harry A. Patrinos's picture

Harry Patrinos @ WISE 2012 Last week, I had the honor of being part of the fourth World Innovation Summit for Education (WISE), in Doha. Pratham, the recipient of the 2012 WISE Prize for education, was praised as a renowned leader in the field of education for providing innovative, low-cost solutions for mass literacy and numeracy in developing countries.  Pratham’s CEO and co-founder, Madhav Chavan, received the award, which recognizes “world-class” contributions to education.

While in Doha, I had the pleasure of being part of a WISE panel debate with Mr. Chavan, which also included Financial Times correspondent Chris Cook and Dr. Talal Abu-Ghazaleh.  Anver Versi, editor of African Business and African Banker, was the moderator.  During this panel, we discussed innovative financing and the role of public-private partnerships in education.   Mr. Chavan began his remarks stating that, “Education is too important to be left to governments alone.”

A Bad Apple in the Classroom? Know It To Change It

Barbara Bruns's picture

Recently, I was part of the Global Economic Symposium held in Rio de Janeiro. This year’s theme was Growth through Education and Innovation; I presented as part of a panel entitled Effective Investments in Education.

My presentation focussed on the fact that a growing and compelling body of research shows that teacher effectiveness varies widely - even across classrooms in the same grade in the same school. Getting assigned to a bad teacher has not only immediate, but also long term, consequences for student learning, college completion and long-term income.

International Day of the Girl: 10 Things to Know & Useful Resources on Girls' Education


Today, October 11, 2012, the World Bank is proud to join others around the world in celebrating the first International Day of the Girl Child. The World Bank, working with governments and other partners including the United Nations Girls’ Education Initiative, is committed to supporting interventions that are proven to address gender equality because we know that gender equality is smart economics. Enabling girls and young women to have the chance to learn in order to lead healthy, productive lives so they can positively contribute to their families, their communities, and their countries requires sustained investments in data collection, research, dialogue, and effective interventions. Today we celebrate the progress achieved and recognize the work ahead. 

The following are select resources on girls' education to help you celebrate the International Day of the Girl!

Let’s Put Education First

Elizabeth King's picture

Today in New York, the U.N. Secretary General announces the launch of his Education First initiative to raise the political profile of education, strengthen the global movement to achieve quality education and generate additional funding through sustained advocacy efforts. 

It’s an exciting step on the road to achieving the Millennium Development Goals, and reconfirms the world’s commitment to education as a basic human right and fundamental building block for development.

How do School Vouchers Help Improve Education Systems?

Harry A. Patrinos's picture

This is an excerpt from "School Vouchers Can Help Improve Education Systems" published on the Opinions section of the World Innovation Summit for Education (WISE) website.


As the demand for education increases, resources remain scarce. In most countries, the government is both the major financier as well as the provider of education. However, schooling still does not reach all members of society equally.

One way of financing education is to provide families with the funding – via cash transfers to schools based on enrollments or by providing cash to families to purchase schooling – in other words- through vouchers. The objective of a voucher program is to extend the financial support from the government to these other education providers and thus give all parents, regardless of income, the opportunity to choose the school that best suits their preferences.

Indigenous Peoples: The Issue of Poverty and the Importance of Good Policy

Harry A. Patrinos's picture

Indigenous Peoples make up 4 percent of the world’s population yet account for over 10 percent of the world’s poor. The Development Community cannot afford to ignore Indigenous Peoples if it aims to achieve the international development goals.

In our recent book, Indigenous Peoples, Poverty and Development (edited by Gillette Hall and Harry A. Patrinos), several issues threatening indigenous peoples today, are highlighted. The book provides a study of Indigenous Peoples and ethnic minorities (and scheduled tribes) for most of the countries with the largest indigenous/ethnic minority populations, namely India and China, along with three countries in Africa (Central African Republic, Democratic Republic of Congo and Gabon), Lao PDR and Vietnam, and has updates from six Latin American countries, which we had analyzed in our earlier work on Indigenous Peoples, Poverty and Human Development in Latin America: 1994-2004.

Voices from Former African Ministers of Education on the Challenges of Workforce Development

With contributions from:
-Haja N. Razafinjatovo, Former Minister of Finance and of Education,Madagascar
-Mamadou Ndoye, Former Minister of Education, Senegal
-Dzingai Mutumbuka, Former Minister of Education, Zimbabwe
-Birger Fredriksen, Former Sector Director for Human Development, World Bank, Africa Region

Several former African Ministers of Education attended Workforce Development: What Matters? at the World Bank. The event is part of the System Approach for Better Education Results, Workforce Development initiative (SABER WfD). Below are key takeaway messages from these former ministers regarding the initiative and the challenges of workforce development, particularly in Africa.  
 
WfD is a recognized global challenge. Countries at all levels of development are struggling to address the dual challenge of producing the skills required to achieve sustained economic growth in a rapidly changing global economy, and generating employment both for young people joining the labor force and for workers in declining industries.

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