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Private Sector Development

Promoting Investments in Energy at the Congressional Black Caucus

Beldina Auma's picture

At the recent Congressional Black Caucus (CBC) Legislative week held in Washington DC, African Diaspora was the focus.  Economic development—supporting Africa’s priorities in the areas of jobs, education, gender, health, youth—was one of the main threads that ran through the week-long discussions.

At the session “Africa Rising: A Continent of Opportunity”, Makhtar Diop, the World Bank’s Vice President for Africa, was one of three panelists discussing “Africa’s Growing Economies.” Africa’s average growth has exceeded five percent per year and accelerated to six percent before the global economic crisis. Performance of the 22 non-oil exporting countries averaged higher than four percent annual growth for the decade between 1998 and 2008, all of which he attributed mainly to better macroeconomic policies. 

Renewable energy, innovative solutions and green growth in the Mediterranean region

Nathalie Abu-Ata's picture

        World Bank | Arne Hoel

“We are not geniuses. We just use common sense.” For CEO and co-founder Ahmed Zahran of Karm Solar Egypt, a company that aims to commercialize solar technologies, it’s not about being a visionary. It is about good business. Ahmed and other young entrepreneurs and business leaders discussed the challenges and opportunities of doing business in the region.

Gas Flaring: Let’s Light Up Homes Rather than the Sky

Rachel Kyte's picture

Gas flaring. Credit: ShinyThings/Creative Commons

Ten years ago, the World Bank and the government of Norway launched an ambitious project to drastically reduce greenhouse gas emissions from a source few people thought much about. If you’ve driven past oil fields at night, you’ve seen the flames from gas flaring. But you might not have realized just how much greenhouse gas was being pumped into the dark – and how much of a natural energy resource was being wasted in the process.

Half a dozen major oil companies joined us in 2002 in creating the public-private Global Gas Flaring Reduction partnership, and we began working together to reduce the flaring. More than 30 government and industry partners are on board today.

Together, we have achieved a great deal in just the first decade.

MIGA in Libya: Boldly Going Where No Political Risk Insurer Has Gone Before

Hoda Atia Moustafa's picture

The New Libyan FlagLast month, MIGA signed its very first contract of guarantee for a project in Libya. The guarantee covers an investment by Jafara Company to expand a beverage and harissa plant outside of Tripoli. (Harissa, if you have never had it, is sometimes known as the "ketchup of North Africa" — a hot chili sauce used to spice up North African foods.) The €7 million contract, underwritten through MIGA's Small Investment Program, provides cover against losses due to expropriation, war and civil disturbance, and transfer restriction. The project came to MIGA through a private equity fund out of Tunisia, AfricInvest, which is indirectly investing in Jafara through a partial acquisition from its previous owner, the MIMS Group of Bosnia-Herzegovina. 

The Path to more Jobs in the Arab World starts with a dynamic private sector

Marc Schiffbauer's picture
        World Bank | Arne Hoel

An analysis of the quality of growth, and more specifically of the dynamics of the private sector is necessary to understand a region’s underperformance in job creation. While many countries in the Middle East and North Africa region had periods of solid growth over the past decade, they all underperformed in job creation. This is because the quality of growth matters as much as the quantity.

“Empowering women is smart economics”

Zia Morales's picture

As World Bank Managing Director Caroline Anstey said in her remarks at last Thursday’s event on women in the private sector, women make up nearly 50 percent of the world’s population. Despite this, they are only 40.8 percent of the formal global labor market.  This gap represents a vast economic potential that could have the power to create jobs, drive economic growth and transform the global economy as we currently know it—shaky, stagnant and according to some of the data, in recession.

How competitive is the Arab world?

Omer Karasapan's picture
        World Bank | Arne Hoel

I finally had a chance to look over the latest Global Competitiveness Report (2012-2013), an annual publication of the World Economic Forum and I thought it would be interesting to see how the participating Arab countries were doing. So, what do these rankings actually mean and how did the Arab countries do? Well, as in all things, it varies by country and groupings of countries.

2.3 Million Lives Lost: We Need a Culture of Resilience

Rachel Kyte's picture

Read this post in Español, Français, عربي

By 2050, the urban population exposed tos torms and earthquakes alone could more than double to 1.5 billion.

Looking at communities across our planet, there is a brutal lack of resilience in our modern lives. Cities have expanded without careful planning into flood- and storm-prone areas, destroying natural storm barriers and often leaving the poor to find shelter in the most vulnerable spots. Droughts, made more frequent by climate change, have taken a toll on crops, creating food shortages.

In the past 30 years, disasters have killed over 2.3 million people, about the population of Houston or all of Namibia.

Jobs in the Arab world are about stability as much as prosperity

Hana Brixi's picture
        World Bank | Arne Hoel

There is more to unemployment than the simple fact of not having a job. It brings with it a whole set of additional difficulties, and on a large scale can have far reaching social consequences. This is especially true for young people struggling with a lack of stable employment and weak prospects for landing any permanent work. Jobs are an important source of social identity, and without one, young people can be cast adrift.

Country policy and institutional assessment: How well are African countries doing?

Punam Chuhan-Pole's picture

Every year, the World Bank’s country teams and sector experts assess the quality of IDA countries’ policy and institutional framework across 16 dimensions to measure their strenght and track progess.  

The latest country policy and institutional assessment (CPIA) results show that despite difficult global economic conditions, the quality of policies and institutions in a majority of Sub-Saharan African countries remained stable or improved in 2011.

DOWNLOAD the indicators here: www.worldbank.org/Africa/CPIA

For several countries the policy environment is the best in recent years. Of the 38 African countries with CPIA scores, 13 saw an improvement in the 2011 overall score by at least 0.1. Twenty countries saw no change, and five witnessed a decline of 0.1 or more. The overall CPIA score for the region was unchanged at 3.2.  

In short, despite a challenging global economic environment, African countries continued to pursue policies aligned with growth and poverty reduction. 


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