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Index insurance is having a development impact where it’s needed most

Ceyla Pazarbasioglu's picture

Many of the world’s populations are vulnerable to climate shocks – to drought, flooding, irregular rainfall and natural disasters. For these countries, cities and communities, index-based insurance is a critical risk-management tool which allows victims of such shocks to continue to have access to finance and to build resilience against future risks.

Index, or parametric, insurance pays out benefits based on a pre-determined index for the loss of assets and investments as a result of weather or other catastrophic events. In contrast, traditional insurance relies on  assessments of the actual damage. 

The forgotten dimension of the SDG indicators – Social Capital

Jos Verbeek's picture

The 2030 Agenda for Sustainable Development rightfully points out that sustainability has three dimensions: economic, environmental, and social. The first two are well understood and well measured.
 
Economic sustainability has a whole strand of literature and the World Bank and IMF devote a lot of attention to debt and fiscal sustainability in their reports. Just open any Article 4 consultation or any public expenditure review and you will find some form of fiscal or debt sustainability analysis.
 
The same can be said about environmental sustainability. Since Cancun (COP16), countries prepare National Adaptation Plans, and since COP 21, they have prepared Nationally Determined Contributions (NDCs) which focus on domestic mitigation measures to address climate change. 

Is your development project disaster and climate proof? It’s time to ThinkHazard!

Alanna Simpson's picture
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These days, it’s rare to open a newspaper (or scroll through a blog) without reading about a disaster striking somewhere in the world. Often, these disasters affect the very same countries that we support in our projects every day at the World Bank, and we watch helplessly as decades of development progress are erased within minutes, hours, or days. Disasters cause substantial losses in every country the World Bank operates in. It is truly not a question of if, but when, the next disaster will strike.

It’s important, then, that when we, along with our private-sector and government partners, always ask, “are our projects resilient to cyclone? What about extreme heat, or volcanic eruptions? In 50 years, will this project still be protected from increasing instances of flooding, landslides, and drought?”

Resilient youth seize opportunities, build their future

Liviane Urquiza's picture
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She was seven when she survived a night of horror. Her home in Nigeria was marked for an attack that night for belonging to the ‘wrong’ ethnic group. My friend and the rest of her family were destined to be killed.
 
But she survived. Her neighbors who noticed the mark alerted them and helped them escape at a time when their other neighbors were being executed and even burned alive. That night, my friend saw a man die in very violent circumstances. The shock was so intense that she could not speak for two weeks.
 

Elephants are calling for help: Will you answer?

Claudia Sobrevila's picture
Also available in: Français
Jonathan Pledger/Shutterstock

By the end of today, 96 African elephants will have been killed. Due to this rate of poaching, the current African elephant population is estimated to have fallen to just 415,000 (IUCN 2016) and the situation is even worse for Asian elephants with an estimated population of about 50,000 (IUCN Red List). This is extremely heartbreaking because not only do elephants have intrinsic value but they are also one of the few flagship and keystone species. If they disappear, the entire ecosystem will collapse.

As we celebrate World Elephant Day on August 12th, I reflect upon what I have learned and realize that to be able to save the largest terrestrial mammal on Earth, we need to protect their habitats, stop the violent poaching and trafficking, support communities that are affected by human-elephant conflicts, and stop the demand for ivory.

Three reasons why we should all care about Indigenous Peoples

Ede Ijjasz-Vasquez's picture
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August 9 is the International Day of the World’s Indigenous Peoples. Worldwide, there are about 370 million Indigenous Peoples and ethnic minorities living in more than 90 countries worldwide.

No matter where we live or who we are, we should all care about Indigenous Peoples. Why?


First, Indigenous Peoples and ethnic minorities are more likely to be poor.

Although Indigenous Peoples make up only 5% of the global population, they account for about 15% of the world’s extreme poor. They are overrepresented.

And if you’re from an indigenous family in Latin America, then you’re three times more likely to be in poverty than someone from a non-indigenous family in the same region.

Why law enforcement is essential to stopping illegal wildlife trade

Simon Robertson's picture
Also available in: العربية | 中文 | Français

© Steve Slater, Flickr

Have you ever seen a rhino walking into the African sunset? It’s an unbelievable sight. Now let me ask you this- have you ever seen a carcass of a dead adult rhino with its horn sawn off and the body lying on the dusty ground? It is an unforgettable and tragic sight.

The world’s wildlife is under a grave threat of either being slaughtered or captured alive. The wildlife commodities -- whether an ivory tusk, a rhino horn, live birds or reptiles -- are illegally moved through well-organized transnational supply chains and sold in international markets where consumers are willing to pay a high price.

Women and finance: unlocking new sources of economic growth

Ceyla Pazarbasioglu's picture
Also available in: العربية | Français | Español


From basic financial services to board rooms, strengthening women’s role in finance is one of the keys to boosting economic growth.

In every country, women and men alike need access to finance so that they can invest in their families and businesses.  But today, 42% of women worldwide – about 1.1 billion – remain outside of the formal financial system, without a bank account or other basic tools to manage their money.   
 

Putting women’s health and empowerment at the center of development

Kristalina Georgieva's picture
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Registered nurses look after newborns at a maternity hospital in Freetown Sierra Leone. © Dominic Chavez/World Bank
Registered nurses look after newborns at a maternity hospital in Freetown Sierra Leone. © Dominic Chavez/World Bank


Last week on World Population Day, I was thinking of the joy of children and the right of women to decide when to have them. It matters to women, but it matters to society as a whole. There can be no sustainable development without women’s empowerment, and there can be no women’s empowerment without access to comprehensive maternal and reproductive health services. Family planning is part of them.

Resilience for the most vulnerable: Managing disasters to better protect the world’s poorest

Stéphane Hallegatte's picture
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In his “The People of the Abyss,” novelist Jack London describes in grim detail a devastating storm that rocked London in the early 20th century. Residents suffered terribly—some losing as much as £10,000, a ruinous sum in 1902—but none lost more than the city’s poorest.
 
Natural disasters are devastating to all affected; however, not everyone experiences them the same way. A dollar in losses does not mean to a rich person what it does a poor person, who may live at subsistence level or lack the means to rebound and rebuild after disaster strikes. Be it a drought or flood, the poor are always hit harder than their wealthier counterparts.
 
This disparity was closely examined in the Global Facility for Disaster Reduction and Recovery (GFDRR) report, Unbreakable: Building the Resilience of the Poor in the Face of Natural Disasters. Unbreakable recommended a range of policies to help countries reduce poverty and build resilience, providing cutting-edge analysis on how disaster risk management (DRM) and well-designed development can alleviate poverty and risk in 117 countries. 

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