"There's no silver bullet for this business" says Dermot Coffey, a World Bank staffer with 30 years of experience promoting FDI in Ireland; instead start with a question: why is a country incapable of generating employment for its people?
Like every Friday, from Raj Nallari and Breda Griffith's lecture notes.
Labor Friendly Economic Growth
Microfinance remains a donor-dominated industry, but it does not have to be. The entire industry, currently at about $17 billion, is estimated to reach as much as $300 billion over the next 20 years.
A new report examines the involvement of public and private capital with global microfinance business, mapping out the range of financial products available to the poor:
When Huda Janahi first applied for a business license in Bahrain, she was turned down. Not because she didn't have the right paperwork, nor because she didn't go through the required procedures, but because a woman had never previously applied. Not to be deterred, Huda registered as a family owned business and got on with the business of making money. She later re-applied successfully in her own name. Now her business, Global Freight & Passenger Services is a multimillion dollar company.
In the July issue of Vanity Fair Jeffrey Sachs calls for more aid money. This time it's $200 billion a year – about twice the current spending: "it's much cheaper than giving food aid, it's much cheaper than having wars, and it's much cheaper than having mass migration" he says.
The latest issue of the World Bank Institute's Development Outreach magazine is out, with the title Youth and Development: Investing in the Next Generation
The recent G8 summit failed to reach agreement on proposals for even a voluntary code of conduct for the world's 9000 "locust" hedge funds with an estimated value of $16 billion as reported on Spiegel Online. However, while there may remain disagreement over transparency issues, it seems G8 leaders might applaud hedge funds for taking the initiative on another key G8 theme - climate change.