Hot on the heels of Hurricane Sandy, Typhoon Bopha lashed the shores of the Philippines earlier this month, leaving 900 dead and 80,000 homeless. Extreme weather is becoming the norm. The World Bank-commissioned report, “Turn Down the Heat: Why a 4°C Warmer World Must be Avoided” found that scientists are unanimously predicting warming of 4 degrees Celsius by the end of the century. The social, economic, and environmental consequences will be devastating. Over the past 20 years, over half of South Asians – more than 750 million people – have been affected by natural disasters, with the loss of life estimated at more than 60,000, and damages above $45 billion.
Like a Bollywood dance sequence, South Asia’s growth numbers tend to dazzle. It is the second-fastest-growing region in the world after East Asia. But behind the glamour lies a paradox. Despite robust economic growth, the total number of people living in poverty in South Asia has not fallen fast enough. Today, there are more poor people living under $1.25 a day in South Asia than in Sub-Saharan Africa.
Social indicators are lagging as well. South Asia has the highest rates of malnutrition in the world, with 250 million children undernourished. More than 30 million children still do not go to school. Gender discrimination remains a scar. Women’s labor-force participation in the region is among the world’s lowest, boys outnumber girls in school enrollment, and legal and judicial systems still do not address systemic gender violence.
Over the last quarter-century, the number of urban dwellers in South Asia has more than doubled to almost 500 million. In India alone, the number of city dwellers has grown by 122 million. Delhi, Karachi, Kolkata and Dhaka have all joined Mumbai in the league of mega-cities. And yet, urbanization in South Asia has barely begun. With about 30% of its population living in cities, South Asia is the least urbanized in the world. But in the 20 years to come, South Asia will urbanize faster than any other region of the world, with the exception of East Asia. This rapid urbanization can be a powerful engine in accelerating poverty alleviation. But most cities in the region are struggling to cope with even the current level of urbanization. Can South Asian cities support the growing urban economy and population and become centers of shared prosperity, or will they become centers of grief?
World Bank India has just launched its Facebook page! We are extremely excited at the prospects that social media channels like Facebook bring in making our communication with the outside world more dynamic, real time, interactive and conversational in style. It will surely add a new dimension to the way we communicate. The link to the page is http://www.facebook.com/WorldBankIndia and we’d like to hear more from you!
Tomorrow, we're launching an online discussion on what are the prospects for advanced and developing economies of the world in the current global economic situation on the wall of our Facebook page.
Nobel Laureate Andrew Michael Spence, who was also the Chairperson of the Growth Commission will lead this online discussion and Mr N. Roberto Zagha, World Bank Country Director in India, will moderate the discussion.
Imagine you are an ER doctor trying to treat a very ill patient who has no medical history and only a vague recollection of symptoms. What would you do if you were the doctor? Trust your gut? Trust that the patient has chronicled his symptoms accurately enough to warrant an accurate diagnosis? This is perhaps how policymakers and aid workers felt back in 2001 when they were deciding where to begin the reconstruction of Afghanistan.
Last week, I discussed the optimistic and pessimistic views of South Asia's development potential. As I highlighted in my book, Reshaping Tomorrow, South Asia is among the fastest growing regions in the world, but it is also home to the largest concentration of people living in conditions of debilitating poverty, human misery, gender disparities, and conflict.
I also ask if South Asia is Ready for the Big Leap. The optimistic view is that India will achieve double-digit growth rates benefiting the rest of South Asia. The pessimistic view is that growth will be derailed by structural and transformational challenges. In this entry, I will make some suggestions on how South Asia could realize the optimistic view.
What can be done?
Five years ago, M. Revathy was a single mother abandoned by her husband, living in the small town of Tirunellikaval in Tamil Nadu. She is high school educated but was unable to find any employment except in a loom in her town. She was paid a pittance there and had the status of a bonded laborer. Today, she has her own loom at home and sells her saris at a good price to the wholesale market. She has a smile on her face as she says proudly that she sends her three sons to school and supports them and her father on her income.
Revathy was one of the women identified under the Tamil Nadu Empowerment and Poverty Reduction Project, 75% funded ($274 million) by the World Bank a few years ago. This project called Pudhu Vaazhvu (meaning New Life) has given a livelihood, and hope for thousands of women, unemployed youth and the differently abled in the state and has also been recognized by the World Bank as one of the best such projects in the world.
What is the account penetration among women in South Asia? Has the spread of bank agents affected how adults do their banking in Bangladesh and Nepal? How are people all over South Asia saving, borrowing, making payments and managing risk?
In the past, the view of financial inclusion in SAR has been incomplete, and the details unsatisfying. A patchwork of data from diverse and often incompatible household and central bank surveys was the only information available with which to construct a regional picture.
With the release of the Global Financial Inclusion Indicators (Global Findex) we now have a comprehensive, individual-level, and publicly-available database that allows for comparisons across 148 economies of how adults around the world manage their daily finances and plan for the future. The Global Findex database also identifies barriers to financial inclusion, such as cost, travel time, distance, amount of paper work, and income inequality.
Leveraging Technology and Partnerships to Promote Equity in South Asia
Wednesday, April 18 at 9:00AM
The Next South Asia Regional Flagship on equity and development (March 2013) will feature an eBook which will combine interactive multimedia as a part of the World Bank Open Data and Open Knowledge initiatives. This signals a new era in development analysis is produced and shared.
Please RSVP to Alison at email@example.com by Tuesday, April 17th to attend.
Twitter hashtag: #wbequity
Breaking Down Barriers: A New Dawn on Trade and Regional Cooperation in South Asia
Thursday, April 19 at 3:00PM
For the first time ever, more than one million households ravaged by the devastating floods of 2010 are being uplifted through a unique cash transfer approach in Pakistan, employing innovative use of payment technology, control and accountability mechanisms, making it possible to give back to the flood-affected families their right to life!