Syndicate content

private sector

Why We Must Engage the Private Sector in Climate Change Adaptation Efforts

Alan Miller's picture

 Lauren Day/World Bank

Late last month, I retired after spending more than 30 years in the climate arena, the last decade as a principal climate change specialist at the International Finance Corporation.

During the span of my career, climate change has moved from the sidelines to be recognized as a serious development challenge. And while we’re still far from achieving the international commitments needed to avoid potentially dangerous and even catastrophic climate events, much has been accomplished.

Scientists have reached near-consensus about climate change and its impacts. We’ve also seen the creation of several significant donor-supported climate funds, as well as a steady increase in policy and financial support for climate-friendly technologies.

In one critical respect, however, we need more progress: making the private sector a partner in helping nations build resilience and adapt to climate change.

Harness the Private Sector to End Poverty – But How?

Donna Barne's picture

World Bank Group President Jim Yong Kim has started a conversation about development and the private sector on Oxfam’s blog.

The evolving discussion isn’t so much about whether to harness the private sector to cut poverty, but how to do it.

In an Oct. 28 blog post, Kim said the Bank needs to work with many partners to help meet the goals of ending extreme poverty and boosting shared prosperity. Private sector investment “is needed to stretch scarce development resources.”

“Engaging the private sector is not about how we feel about business; it’s about how high our aspirations are for poor people. If we rely only upon foreign aid, then our aspirations are far too low.”

Jim Yong Kim: Turkey's Decade of Progress

Jim Yong Kim's picture

ISTANBUL — On my first trip to Turkey, I met the country's political leaders, business executives, and civil society organizers — and some of the World Bank Group staff. We have 250 staff in Turkey, of which 200 are in the regional hub of IFC, our private sector arm.

While Turkey faces many challenges, I came away very impressed with many of the nation's accomplishments during the last decade. To learn more, watch this video blog.

Working With New Partners to Build Skills in Africa

Sajitha Bashir's picture

While global economic growth has been sluggish in recent years, Africa has been growing. We’ve seen a resurgence of traditional sectors such as agriculture and the extractive industries as well as promising new ones such as ICT. Not surprisingly, these booming sectors need highly skilled technicians, engineers, medical workers, agricultural scientists and researchers. Yet large numbers of African graduates remain unemployed as their skills are often not in line with industry requirements. 

Is Rwanda the next big thing in Africa?

Mohammad Amin's picture


Does Rwanda's impressive growth tell the whole story? (Credit: CIAT, Flickr Creative Commons)

Over the last few years, a lot of optimism has been built around Rwanda being the next big thing in Africa. I guess one reason for this optimism is Rwanda’s impressive list of business friendly reforms and its equally impressive growth performance. Between 2006 and 2011, per capita income in Rwanda grew at an average rate of 5.1 percent per annum, fifth highest in Sub-Saharan Africa (SSA) region and much better than the regional average rate of 2.4 percent. Moreover, Rwanda currently ranks third in the region in the quality of the business environment as measured by the World Bank Group’s Ease of Doing Business index. So, is Rwanda really the next big thing in Africa?

Can informal health entrepreneurs help increase access to health services in rural areas?

Jorge Coarasa's picture


New approaches to medical care can improve health outcomes (Credit: World Bank, Flickr)

In many poor countries, a large proportion of health services is provided by the private sector, including services to the poor. However, the private sector is highly fragmented and the quality of services varies widely. Private health markets consist of providers with very diverse levels of qualification, ranging from formally trained doctors with medical degrees to informal practitioners without any formal medical training. According to Jishnu Das, in rural Madhya Pradesh— one of the poorest states in India, households can access on average 7.5 private providers, 0.6 public providers and 3.04 public paramedical staff. Of those identified as doctors, 65% had no formal medical training and of every 100 visits to healthcare providers, eight were to the public sector and 70 to untrained private sector providers.

Recovering jobs and building security in Pakistan

Kiran Afzal's picture


 Local businesses can create jobs in Pakistan's conflict areas (Credit: Zerega, Flickr)
 

How can you effectively support areas shaken by years of regional instability? The Western border areas of Pakistan are one such region, where a 2009 insurgency and subsequent military operations in the Khyber Pakhtunkhwa (KP) and Federally Administered Tribal Areas (FATA) led to one of the worst crises in the country's history. More than 2 million people were forced to leave their homes and considerable damage was caused to physical and social infrastructure. The unprecedented floods of 2010 only made the situation worse.

Jim Yong Kim to Private Equity Investors: We Need Your Help to Boost Growth, Jobs, Equality

Donna Barne's picture
World Bank Group President Jim Yong Kim called on private equity firms to increase their investments in developing countries to help generate the growth, jobs, and equality needed to end extreme poverty.

“We have a fantastic opportunity to work together,” Dr. Kim told hundreds of investors at the 15th Annual Global Private Equity Conference, hosted by the Bank Group’s private sector arm IFC and the Emerging Markets Private Equity Association (EMPEA).

“…Private equity is going to play a critical role in whether or not we can truly have high aspirations for the 1.2 billion people living in absolute poverty in the world,” he said in a speech that was liveblogged and followed on Twitter with #wblive and #GPEC2013.

Corporate Governance Reforms Pay Dividends in Thailand

Read this in Thai


Thailand is a clear leader in corporate governance among Asian and emerging economies. But the recently launched 2013 Corporate Governance Report on Standards and Codes (ROSC) finds key challenges remain.
In the face of the 1997 crisis, Thailand has undertaken significant reforms that have enhanced corporate governance. Both regulators and the private sector in Thailand embraced good corporate governance, and have remained committed ever since. The World Bank also played a role - for example in helping establish the Thailand Institute of Directors in 2002 and conducting a previous Corporate Governance ROSC in 2005, which in turn was used by the Thai Securities and Exchange Commission (SEC) to support the next wave of reform.  Overall, progress in the last 15 years has been impressive.

Five Misconceptions about Infrastructure


Ensuring that the world economy and its citizens have sufficient infrastructure—from transport systems to electricity grids and water pipelines—is an increasingly pressing issue. It’s also a subject matter surrounded by misconceptions. Five are worth noting:

1)    Lack of investment is not always to blame.
The first is a common assumption that when infrastructure is too inadequate, congested, or old, the culprit is always a lack of investment. The truth is more complex. Globally on average, infrastructure stock --which includes transport (road, rail, ports and airports), power, water and telecommunications--accounts for about 70 percent of a country’s GDP.  Brazil, whose infrastructure stock is less than 20 percent of GDP, under-spends chronically compared with its economic size and growth. It seems no coincidence that the country’s airports are 122nd out of 142 in the World Economic Forum’s rankings. Other under-investors include the United Kingdom, Canada, India, and the United States. But other countries over-invest for the size of their economies. China, Poland, Italy, South Africa, and Japan are among them. Japan’s stock of infrastructure is equivalent to nearly 180 percent of its GDP. Over the past 18 years, growth would have “justified” investment of around 3 percent of GDP, but Japan spent 5 percent.


Pages