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Private Sector Development

Year in Review: 2015 in 12 charts

Donna Barne's picture

Now that we've reached the end of 2015, it's clear this was a year of major milestones, emerging trends, and new beginnings. Among other things, 2015 marked a historic drop in poverty, a major climate change agreement, and record low child and maternal mortality rates. Take a look at what the data show.

1. The Global Poverty Rate Fell below 10%

Women are key for corporate success

Ahmed Ali Attiga's picture

Female board members can dramatically improve the fortunes of public companies — and the Middle East

While the Middle East has made strides towards gender equality in recent years, the upper echelons of its corporate world are still dominated by men.

Nowhere is that more apparent than in Jordan. Women there hold just 4% of all board of directors’ seats, and nearly four-fifths of firms don’t have any women on their boards. Those numbers pale in comparison with many other countries, including the United Kingdom, where 25% of all board members are women.

But a new study from IFC, a member of the World Bank Group, suggests that companies would do well to inject some female leadership into their ranks — a finding that has deep implications for the entire region.

Leveraging Islamic finance promotes growth and prosperity of small businesses

Bertrand Badré's picture
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Shop owners get ready for another day of work in Cairo, Egypt. © Dominic Chavez/World Bank


From the smallest rural villages in Bangladesh to the large, bustling metropolitan centers of Cairo or Istanbul, small and medium enterprises (SMEs) are the lifeblood of Islamic communities around the world, keeping local economies humming.

I first became interested in the potential of leveraging Islamic finance to grow SMEs when I led a seminar on the topic in 1997. I’ve come full circle, almost 20 years later, when I had the opportunity to speak last month in Istanbul at a conference on “Leveraging Islamic Finance for SMEs” organized by the World Bank Group, the Turkish Treasury, the Islamic Development Bank and TUMSIAD, the largest association of SMEs in the country with 10,000 members.

Five challenges prevent financial access for people in developing countries

Gloria M. Grandolini's picture
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Financial products must be adapted to women’s needs, like enabling them to open their own account or improving their financial literacy. Photograph: World Bank Photo Collection

Two billion people worldwide still lack access to regulated financial services. Despite significant progress and the increased technical and financial resources devoted to financial inclusion, much work remains ahead.
 
There is broad consensus that access to a transaction account can help people better manage their life and plan for emergencies.

But financial access and the underlying financial infrastructure taken for granted in rich countries, such as savings accounts, debit cards or credit as well as the payment systems on which they operate, still aren’t available to many people in developing countries. This past September, I participated in the Global Policy Forum of the Alliance for Financial Inclusion (AFI) held in Mozambique.  This annual meeting convened policymakers, the private sector and other stakeholders to assume new commitments, discuss best practices and agree on the way forward.

Unleashing private investment in renewable energy

Korina Lopez's picture
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Angus McCrone, Jin-Yong Cai, and Rune Bjerke discuss renewable energy. © Franz Mahr/World Bank


More than 700 million people live in extreme poverty around the world. If that number seems daunting, then consider this: 1.1 billion people – more than three times the population of the United States – live without electricity.

So it goes without saying that ending energy poverty is a key step in ending poverty itself. And world leaders agree – a sustainable development goal just for energy was adopted last month. It emphasizes the role of renewable energy in getting us to the finish line of reaching sustainable energy for all by 2030. What will give us a big boost in that race? Private financing.

Billions to trillions: Financing the Global Goals

Gavin E.R. Wilson's picture
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The Penonomé project in Panama will be the largest wind farm in Central America. © Penonomé


Tomorrow morning, Pope Francis will kick off the UN General Assembly’s session on the Sustainable Development Goals (SDGs) and by the end of the day, the world’s leaders will have affirmed the 17 goals. This is a momentous occasion, worth celebrating, but the hard work begins Monday morning. That’s when the focus shifts from what to how.
 
The first 16 goals cover a range of critical development needs, expanding on the Millennium Development Goals that have guided development efforts since 2000. The final SDG is qualitatively different. Rather than expound on what we want to achieve, it addresses how we will achieve the goals. It focuses on the means of implementation.

Build it and growth will come

Dimitris Tsitsiragos's picture
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Solar panels in Morocco. © Dana Smillie/World Bank


By encouraging private investment in infrastructure, we can spur growth in the developing world

Later this month the United Nations is expected to finalize its Sustainable Development Goals, a global action plan designed to end poverty and support long-term growth. One of the goals states, “Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.” 
 
In many parts of the developing world, from Asia to Latin America, a massive infrastructure shortfall may be the single most significant obstacle to human and economic development. Addressing it will underpin progress on many of the SDGs.

Unleashing the power of women entrepreneurs around the world: The smartest investment to unlock global growth

Jin-Yong Cai's picture
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Jacqueline Mavinga, entrepreneur, Democratic Republic of Congo.  © John McNally/World Bank Group


​Since childhood, Gircilene Gilca de Castro dreamed of owning her own business, but struggled to get it off the ground. Her fledgling food service company in Brazil had only two employees and one client when she realized she needed deeper knowledge about what it takes to grow a business. To take her business to that next level, she found the right education and mentoring opportunities and accessed new business and management tools.

Ending poverty and boosting shared prosperity is about realizing human potential

Ted Chu's picture
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© Vikash Kumar

I have been fascinated by the concept of frontier all my life. What brought us here? What’s next? As a kid, my favorite book was “Ten Thousand Whys,” a pop-science series with all kinds of seemingly trivial questions like “Why are there fewer stars in the sky in winter?”

I wrote my Ph.D. dissertation on the Production Efficiency Frontier Theory — how to identify the most efficient units in a production network and measure the technical frontier. Later I became more of a macroeconomist and my interest expanded to identifying countries standing on the growth frontier. Subsequently, I began studying the deepest thinkers and became convinced that humanity is on an important new frontier of cosmic evolution.

Three Lessons Learned on the Road to Gender Equality

Bahar Alsharif's picture
What is a game changer for women in business and management? That was the topic on everyone's mind at the Confederation of British Industry (CBI) HQ in London this week. I had joined private sector leaders, including representatives from employer organizations around the world, for a one-day conference organized by CBI, the International Finance Corporation (IFC), and the International Labour Organization (ILO). Together, we reflected on latest research, shared best practices, and identified approaches to overcoming "stubborn bottlenecks" in achieving greater gender diversity at top. 
 

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