It is the end of another hot day in Rio de Janeiro. I’m tired and sweaty after spending the afternoon checking out the progress on some of the city’s train stations, which are being renovated for the upcoming Olympic Games. But I’m also happy, having witnessed the progress made in improving Rio’s suburban rail system, known as SuperVia, which the World Bank has been supporting for the last 20 years.
Also available in: العربيةWomen’s economic equality is good for business. It is clear that women play a fundamental role in building and sustaining the world economy.
They offer a powerful source of economic growth and opportunity. Women contribute not only to the formal economy, but also through the valuable and generally unpaid tasks of caregiving and homemaking. It has been proven that better opportunities in education, health, employment, and policies lead to better well being for women, their communities and — in turn — the economic and social well-being of a country.
However, only recently has the relationship of gender and infrastructure — more specifically, transport — and the role it plays in a country’s social and economic well-being been addressed.
Transport networks are one of the most important elements of a country’s infrastructure, and they are key to reducing poverty and promoting equality. A country’s transport infrastructure generally centers on enabling the supply of goods, connecting and providing access to people, services and trade, with the objective of bringing economic prosperity to a nation. However, it has been only in the past five to ten years that infrastructure projects have started to include gender awareness as part of their investment decisions.
As women become even more central to a country’s economy, addressing their transportation needs takes on an essential role in promoting economic growth and prosperity.
At the inaugural ceremony in the Great Hall of the People, Chinese President Xi Jinping reaffirmed the new institution's mission, saying that "Our motivation [for setting up the bank] was mainly to meet the need for infrastructure development in Asia and also satisfy the wishes of all countries to deepen their co-operation."
Indeed, the AIIB is a major piece of China's regional infrastructure plan, which aims to address the huge needs for expanding rail, road and maritime transport links between China, central Asia, the Middle East and Europe. But the AIIB should also represent a huge opportunity for cooperation not only between countries in the region but also with other multilateral development banks.
Our experience working on transport mega-projects co-financed by several multilateral development banks (MDBs) already shows that this collaboration is much needed and critical for the success and viability of mega-projects. The most recent experience with the Quito Metro Line One Project, for example, shows that the co-financing banks – World Bank, Inter-American Development Bank, Andean Development Corporation and European Investment Bank – brought not only their financial muscle but also their rich and diverse global knowledge and experience. Incidentally, because of the Quito Metro project, all the MDBs involved in the project were dubbed as the “musketeers, ” precisely due to the high degree of collaboration and team work that is making this project a success.
- East Asia and Pacific
- Latin America & Caribbean
- Bus Rapid Transit
- BRT systems
- public transit
- public transport
- public transportation
- infrastructure financing
- infrastructure financing gap
- multilateral development banks
- MDB collaboration
- asian infrastructure investment bank. aiib
How can improved roads change peoples’ lives? How much do people benefit from road projects? Answering these seemingly simple questions is, in fact, much trickier than it appears.
We recently concluded an impact evaluation to measure the socio-economic impacts of World Bank-financed municipal road improvements on poor rural households in the state of Tocantins, Brazil. After 10 years of study, what were the results and lessons learned? And how did we go about conducting the evaluation?
The study followed a methodology traditionally used in impact evaluations in the social sector and was based on a precedent in Vietnam. Throughout the state, one of the least-developed and least-populated in Brazil, most municipal roads are unpaved with inadequate maintenance. The World Bank’s municipal roads project helped construct 700 concrete bridges and 2,100 culverts crossing rivers and streams, providing year-round access to remote populations that once couldn’t access municipal centers during rainy season.
The anticipated result chain of the project was as follows: improvement of physical accessibility would contribute to increase travel demand to markets, schools and health services. This would, in turn, contribute to improved education, better health and increased business opportunities. Finally, it would result in long-term household income growth.
Our study aimed at measuring these impacts through a “difference in differences with matching,” a method that compares a treatment group (population benefiting from the interventions) and a control group (population that does not), while ensuring similar socio-economic characteristics (or comparability) between groups. An “instrumental variables estimator” was then used to confirm the robustness of the results.
The results show positive socio-economic impacts to rural residents, as well as provides for several policy implications:
Estos “bonos de proyectos” están principalmente dirigidos a inversionistas institucionales —incluidos fondos de pensiones— y han generado un gran interés entre banqueros de inversión, firmas de abogados e inversionistas. Todo este bombo plantea una serie de preguntas: ¿Están los "bonos de proyectos" realmente a la altura de las expectativas? ¿Pueden los Gobiernos depender de los ahorros pensionales para financiar proyectos (¡un nuevo significado para la sigla APP!)? ¿Qué necesitamos hacer para convertir a los fondos de pensiones en una fuente de financiamiento significativa y así terminar con el déficit de inversión en el sector de infraestructura?
These “Project Bonds” mostly target institutional investors - including pension funds, and have generated a great deal of interest among investment bankers, lawyers and investors. All this hype raises a number of questions: Are these “Project Bonds” really living up to expectations? Can governments really rely on Pensioners Paying for Projects (a newfound meaning for PPPs!)? What do we need to do to turn these instruments into a significant source of financing and close the infrastructure investment gap?
Africa’s infrastructure deficit is no secret. Several recent studies by the World Bank and others have confirmed that across the continent, roads are inadequate, railways in poor condition and waterways limited. While the problems are most obvious at the national level, they are more acute along routes connecting countries. Lack of resources contributes to the patchy state of infrastructure connectivity between African countries. But it is not the only hurdle. A key question is: given limited resources, how should infrastructure be planned, prioritized and financed?
Sixteen countries in Sub-Saharan Africa are landlocked. To trade goods in overseas markets, they must cooperate with their coastal neighbors, working together to plan roads, transport goods to port and keep borders open. This is harder than it sounds. While numerous regional organizations exist to coordinate infrastructure planning in Africa, in practice they are made up of representatives with interests rooted in their own countries. Decisions by these bodies are often political and driven by members’ desire to see projects in their home territories.