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March 2013

Tahar Haddad: A towering figure for women’s rights in Tunisia

Erik Churchill's picture
Dasu
Photo Credit: Pakistan's Water and Power Development Authority (WAPDA)

Compared to their investment needs, developing countries have very limited concessional financing available to them. International commercial banks are constrained in terms of the size and tenors of credits to Emerging Markets and Developing Economies. A key challenge therefore, is to channel large savings and capital into productive investments in developing countries, partly by ‘de-risking’ investments and borrowings.  Pakistan is at the forefront of these efforts, recently making use of two World Bank guarantees to access over 1 billion US dollars in two international commercial loan financings.

A $420 million IBRD Policy Based Guarantee (PBG) was approved by the World Bank Board alongside a $500 million IDA credit in June 2016. The PBG guarantee partially takes over the risk of a commercial bank’s loan to a government. The PBG and the IDA credit supported a program of reforms including the adoption of a new and more inclusive poverty line, efforts to broaden the tax base, enhanced transparency of State Owned Enterprises, improved debt management and a significant overhaul of the regulatory framework of the financial sector.  Improved access to international financing through the PBG will reduce the government’s dependence on domestic financing and free up resources for private sector investment. The guarantee also signals the World Bank’s confidence in Pakistan’s economic reforms program – a signal that is particularly important after the successful completion of the IMF program. The government used the US$420 million PBG to partly guarantee a 10-year US$700 million loan, extending tenor significantly and achieving cost savings.  

The Gender Gap in Access to Finance

Asli Demirgüç-Kunt's picture

International Women’s Day is when we celebrate the strides made towards equality, but it also reminds us that gender is a powerful determinant of economic opportunities, particularly in developing countries.  Financial inclusion is one of the areas where we observe a gender gap—women in developing economies are still relatively more excluded from the financial sector than men, even after controlling for income and education

For the first time, we can quantify this gap using hard data and evaluate how women around the world save, borrow, make payments and manage risk, both inside and outside the formal financial sector. With the release of the Global Financial Inclusion (Global Findex) data, we now have a comprehensive, individual-level, and publicly-available database that allows for comparisons based on more than 150,000 nationally representative adults in 148 economies in 2011. The dataset includes over 40 indicators, but here we’ll focus on three main categories: account ownership, savings behavior and credit.

Study Design and Sub-group analysis in HIV Trials

Berk Ozler's picture
The lessons from the Polish educational boom show that tertiary education can be expanded relatively quickly, especially when the demand for skilled labour grows, wage premiums are high and the private providers are allowed to cater to the growing demand for education. However, what seems tougher is ensuring that the structure of education faculties and the skills being taught reflect not only the current demands but also future needs. Looking at the demographics, we can see that by 2030 most of beneficiaries of the education boom will prime-aged. There will be less people on the labor market, but they will be better educated and should be much more productive than the current workforce, cushioning the impact of ageing on the economy.
 

School Meals Benefit Women and Girls around the World

Donald Bundy's picture

In their discussions this weekend, the Development Committee will be assessing five strategic priorities for the Bank in a post-crisis environment. Gender is considered a cross-cutting issue that will factor into all of the Bank's work in these priority areas.

Gender is also getting special attention this year from IDA (International Development Association) deputies as they deliberate the current round of funding known as the IDA16 replenishment.

Video Blog: what will it take to empower women in the Middle East & North Africa?

Tara Vishwanath's picture
Kaushik Basu delivered the keynote address at a panel discussion in Ithaca, NY titled "Cornell and Global Poverty Reduction: Philanthropy, Policy and Scholarship".
 
Registration for the 2015 Annual Bank Conference on Development Economics has opened.  The conference takes place Jun 15-16 in Mexico City.
 

Open Data community hacks D.C. and global issues

Samuel Lee's picture

A year ago I was assigned from a World Bank operations team providing support to countries in Europe and Central Asia on energy, climate mitigation and adaptation to work in a Bank administered trust fund, the Energy Sector Management Assistance Program (ESMAP), as a thematic coordinator for energy and climate change in this program. One of my roles is to coordinate a program that is providing support to six emerging economies—Brazil, China, India, Indonesia, Mexico and South Africa—that are proactively seeking to identify opportunities and related financial, technical and policy requirements to move towards a low carbon growth path.

The program has been underway for two years and individual country studies have been managed by World Bank operational teams. The governments of these countries have initiated country-specific studies to assess their goals and development priorities, in conjunction with greenhouse gas (GHG) mitigation opportunities, and examine the additional costs and benefits of lower carbon growth. This requires analysis of various development pathways—policy and investment options that contribute to growth and development objectives while moderating increases in GHG emissions.

What Do Iceland and Kenya Have in Common? Lots of Clean and Renewable Geothermal Energy

Sri Mulyani Indrawati's picture

Read this post in Español, Français, 中文, عربي

Walking out of Keflavik airport as the arctic breeze hit my face at 50 km per hour, I thought to myself, “I love my job.”  A job that makes a tropical citizen like me enjoy the hospitality of the very warm Icelanders and allows me to learn from their experience is hard to top. With 320,000 citizens and just the size of the U.S. state of Kentucky, subpolar Iceland has a lot to teach us development practitioners.

We are only beginning to put together a vision for how to deal with the dilemma of a warming-- and therefore more unpredictable and punishing--climate and ever increasing energy needs. But Iceland has long ago put its mind to the challenge and now lives productively and peacefully in an environment that throws at it tremendous challenges and great gifts.

My appreciation of Iceland's strategy to make use of its environment and harness its renewable energy rose as I visited Hellisheiði Geothermal Plant. Feeling the rumbles of the earth and looking at the steam that puffed from its heart against the backdrop of a volcanic landscape, I was in awe both of nature and the people who have embraced its imposing power.

Women’s Day in Turkey – a Working Day

Martin Raiser's picture

Having lived in many countries throughout the former Soviet Union over the last nine years, I am familiar with International Women’s Day as a holiday. In Turkey, however, Women’s Day remains a work day.

And quite appropriately so, it seems to me.

Partnership in Political Risk: Singapore Goes Global!

Paul Barbour's picture

In preparation for the February 28 ICT Solutions Day, the World Bank ICT team is piloting a crowdsourcing initiative to develop innovative ICT-enabled solutions for client countries.

7 ways to support the next wave of women-led innovation in Ethiopia

Anthony Lambkin's picture

While it’s International Women’s Day tomorrow, many of us at infoDev are trying every day to make women, specifically women innovators, central to our strategy of supporting high-growth entrepreneurs in developing countries. But this is easier said than done as women are notoriously under-represented in tech-related industries and even more so in the area that I work in – clean technology – which is largely manufacturing and therefore male, dominated.

I recently attended one of the largest renewable energy forums in the Caribbean attracting investors, experts and entrepreneurs from around the region. As I looked around the room, I spotted only a handful of women. And this is not an isolated case. I see this scenario play out whenever I meet climate and clean energy entrepreneurs at events like this around the world.


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