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Well-regulated financial technology boosts inclusion, fights cyber crime

Joaquim Levy's picture
Also available in: العربية | Español | Français | 中文

Luceildes Fernandes Maciel is a beneficiary of the Bolsa Família program in Brazil. © Sergio Amaral/Ministério do Desenvolvimento Social e Agrário

Financial technology — or FinTech — is changing the financial sector on a global scale. It is also enabling the expansion of financial services to low-income families who have been unable to afford or access them. The possibilities and impact are vast, as is the potential to improve lives in developing countries.

The financial sector is beginning to operate differently; there are new ways to collect, process, and use information, which is the main currency in this sector. A completely new set of players is entering the business. All areas of finance — including payments and infrastructure, consumer and SME credit, and insurance — are thus changing.

Argentina’s chance to leap ahead

Sri Mulyani Indrawati's picture
Also available in: Español

View from Villa 31 in Buenos Aires, Argentina. © Mary Stokes/World Bank

So far, 2016 has been a year filled with challenges and uncertainties. Global economic growth is weak, commodity prices remain low, and international trade isn’t picking up. In fact, voters around the world are questioning long-held beliefs in open markets, and populists are exploiting their fears by suggesting divisive policies and promising easy solutions to complex issues. Against this backdrop, it would seem that staying afloat is already a remarkable feat by any country.
 
But to make progress in the fight against poverty and to reactivate economic activity to provide opportunities for all, countries have to do much more. They have to tackle necessary and sometimes difficult reforms, deal with tradeoffs, but most of all, they need to stay focused on what is good for most people in the long-term.

We asked, you answered. Here's your choice for our 2016 Annual Report Cover

Zubedah Robinson's picture
Last week, we asked you to help us choose a report cover for our Annual Report for this year.

Many of you voted and one cover was the clear winner with 60% of the vote. Here is what you chose for our Annual Report.
 

Thank you for helping us with this process and make sure to get your copy of our Annual Report when it comes out later this year.
 

Can Innovative Financing Bring Landscape Restoration to Scale?

Paola Agostini's picture


Vibrant landscapes are not just beautiful to look at, they are productive and resilient. They provide the natural resources and ecosystem services that underpin economic activities like agriculture, mining, and energy, and are thus vital to national economies and the jobs and wellbeing of billions of people. However, in many areas across the globe, economic activities are being carried out at an unsustainable level, undermining the very landscapes on which we depend. FAO estimates that worldwide land degradation costs US$40 billion per year.

By contrast, restoring landscapes could bring renewed economic opportunity, improved water supply, and climate resilience. More than two billion hectares worldwide - an area larger than South America – could be restored, with tremendous value to national and local economies. IUCN estimates the annual net benefit of restoring 150 million hectares of land at approximately US$85 billion per year. In addition, such restoration would sequester massive amounts of greenhouse gases and go a long way towards stabilizing climate change at 2 degrees C.

Help us choose our 2016 Annual Report cover

Zubedah Robinson's picture
Each year the World Bank Group produces an Annual Report that focuses on how its two institutions – the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) – are working side by side with countries to end extreme poverty by 2030 and raise the incomes of the poorest people in the world. You can see last year’s report HERE. This year the Annual Report will look at how interconnected and overlapping many of the world’s biggest challenges are.

My advice for future policymakers: See the public’s success as your success

Sri Mulyani Indrawati's picture
Also available in: Français | Español | العربية

Students line up to wash their hands before eating at Kanda Estate Primary School in Accra, Ghana. © Dominic Chavez/World Bank

The most important word in "public policy" is "public" — the people affected by the choices of policymakers.

But who are these people? And what do they care most about? Policies evolve as the concerns of generations change over time. Regardless of whether you are generation X, Y, or Z, people want the same things: prosperity and dignity, equality of opportunity, justice and security.

Afghan teen rapper sings and advocates to end child marriage

Bassam Sebti's picture
Also available in: العربية | Français | Español


At first she looks like any bride: wearing a white wedding dress with her face covered with the wedding veil and carrying a bridal bouquet. Except that she is no ordinary bride. She is being sold.

As she removes her veil from her face, her forehead appears marked with a barcode. Her left eye is badly bruised and a big scratch on her cheek is as red as a war wound.

The girl in the music video “Brides for Sale” is portrayed by Sonita Alizadeh, an Afghan teen rapper who sings in the video about the ordeal many girls in Afghanistan go through when are sold by their families to marry at an early age in return of money.

But why is she singing about this issue?

Panama Canal expansion: A smart route for boosting infrastructure in Latin America

Philippe H. Le Houérou's picture
Also available in: Español
Since it opened in 1914, the Panama Canal has been one of the world’s most important trade assets and a marvel of engineering. Its expansion has doubled the canal’s cargo capacity, adding a new lane and bigger locks that will shake up shipping routes and make seaborne trade less costly and more efficient.
 
© Panama Canal Authority


Panama, already projected to be Latin America’s fastest-growing economy over the next five years, was the big winner when the expanded canal opened its locks on June 26. New port projects and related logistics hubs are in the works to attract global manufacturers and further enhance the country’s competitiveness.

The newest weapon against HIV/AIDS in Africa? MTV

Korina Lopez's picture
Also available in: Français | Español | العربية

The latest development in the fight against HIV/AIDs in Africa wasn’t conceived in a lab with scores of scientists, but on a TV set with actors, makeup artists, directors and producers. What are we talking about? The MTV Staying Alive Foundation produced the entertainment education program MTV Shuga, a television drama that targets African youth.  Oscar winner Lupita Nyong'o starred in the first two seasons of the show. The show is broadcast in over 70 countries, reaching over 750 million people worldwide.  

The world’s refugee crisis needs both a humanitarian and longer-term response

Jim Yong Kim's picture
Denham and his family have been refugees living in this tent for the last four years. © Dominic Chavez/World Bank


The world's greatest risks can't be confined within borders. This is clearly the case with the ongoing refugee crisis, which is unprecedented in scale and affecting people and places far from the scene of civil war, fragility and conflict. The UK vote to leave the European Union showed, in part, the volatility and reach of the impact of forced displacement.

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