Her story is an inspiration to youth (male and female) and women who are afraid of failure and taking risks.
Starting from a modest home-based business, 50 years ago, today Aban is a household brand name that is island wide in Sri Lanka.
Will diversifying its economy help Bhutan address its youth unemployment, let alone its macroeconomic volatility and vulnerability?
With the right approach, yes.
And to that end, the latest World Bank Bhutan Development Report: A Path to Inclusive and Sustainable Development proposes solutions relevant to Bhutan’s context.
as described in the 10th and 11th five-year plans.
Diversifying the economy is touted as a standard prescription to cure such development ailments as joblessness, low productivity, and macroeconomic volatility.
However, international experience shows that this prescription does not always work.
Case in point: A World Bank’s analysis Diversified Development concludes that in resource-rich countries, investing in physical capital, human capital and economic institution are the best ways to sustain growth in the private sector.
Further to that, the development of specific sectors, which is often a common ingredient of diversification strategies in certain countries, is neither necessary nor sufficient for private-sector-led growth.
“Sí, sabes que ya llevo un rato mirándote
Tengo que bailar contigo hoy”
The Despacito tune blared in the bus, and my fellow riders kept tempo to the rhythm.
I was recently on mission in the Punjab province, Pakistan, on my way to the Shalimar Gardens for some sightseeing on my day off.
The last thing I expected to hear was the top song of 2017 on a bus in Lahore but in hindsight, this shouldn’t have surprised me.
We live in a global community, and across the world, individuals are getting more connected every day. Music perfectly exemplifies this – a universal language which we can all understand. With this increased connection comes higher expectations.
In addition to roads and clean water, citizens now demand that their government provide reliable digital connectivity. And when taxes and other revenues are not sufficient to cover this and other public services, governments must borrow to pay for it.
Managing public debt was precisely my reason to be in Lahore where I introduced a cash flow tool the World Bank helped design.
If, like me, you’re a firm believer in New Year’s resolutions, early January ushers in the prospect of renewed energy and exciting opportunities. And as tradition has it, it’s also a time to enter the prediction game.
To sum up:
Notably, and despite increasing conflicts and growing fragility, Afghanistan is expected to increase its growth to 2.7 percent rate this year.
In this otherwise positive outlook, Pakistan’s growth is projected to slow to 3.7 percent in fiscal year 2018-19 as the country is tightening its financial conditions to help counter rising inflation and external vulnerabilities.
However, activity is projected to rebound and average 4.6 percent over the medium term.
It’s a dusty September morning, and Kiran Devi is finishing her chores at lightning speed.
“Wouldn’t it be nice to keep 5,000 women waiting, especially when it’s a celebration,” she says with a touch of gushing pride and makes her way to the annual general meeting of the women-owned Aaranyak Agri producer company.
Located in Purnea district in Bihar—one of India’s poorest states—the company is made up of small local women small farmers and producers and lies in the most fertile corn regions in eastern India.
But until recently, small farmers did not fully reap the benefits of this productive land.
Local traders and intermediaries dominated the unregulated market. Archaic and unfair trading practices like manual weighing, unscientific quality testing, and irregular payments made it difficult for small farmers to get the best value for their produce.
“The trader would come, put some grains under his teeth and pronounce the quality and pricing. For every quintal of maize [corn], 5-10 kilos additional grains were taken, sometimes through faulty scales and sometimes simply by brazenly asking for it,” says Lal Devi, one member of the company. “We had the choice between getting less or getting nothing.”
Such practices stirred local women farmers into action, and they formed the Aaranyak Agri Producer Company Limited (AAPC) to access markets directly and improve their bargaining power.
The company established a farmer-centric model and received funding and technical assistance through JEEViKA (livelihoods in Hindi), a World Bank program that supports the Government of Bihar and has achieved life-changing results for Bihar’s rural communities.
Joining forces helped lower costs and boost production. Together, the groups saved $120 million and leveraged more than $800 million in bank loans.
Further, digital technologies have been introduced as an innovative way to improve the production, marketing, and sale of small-farmers’ produce.
For example, women farmers receive regular periodic updates on their mobile phones to learn best practices to grow corn as well as weather information to inform farming decisions.
During harvest season, farmers receive daily pricing information from major nearby markets to help them stay abreast of the latest variations in prices.
Its annual average economic growth of 7.6 percent between 2007 and 2017 far exceeds the average global growth rate of 3.2 percent.
This high growth has contributed to reducing poverty: Extreme poverty was mostly eradicated and dwindled from 8 percent in 2007 to 1.5 percent in 2017, based on the international poverty line of $1.90 a day (at purchasing power parity).
Access to basic services such as health, education and asset ownership has also improved significantly.
The country has a total of 32 hospitals and 208 basic health units, with each district hospital including almost always three doctors.
The current national literacy rate is 71 percent and the youth literacy rate is 93 percent.
The recent statistics on lending, inflation, exchange rates and international reserves (Sources: RMA, NSB) confirm that
Gross foreign reserves have been increasing since 2012 when the country experienced an Indian rupee shortage.
Reserves exceeded $1.1 billion, equivalent to 11 months of imports of goods and services, which makes the country more resilient to potential shocks.
The nominal exchange rate has been depreciating since early 2018 (with ngultrum reaching Nu. 73 against the US dollar in early November).
End Poverty Day fell on the 17th of October. Two weeks later, the new Doing Business rankings come out for this year.
If you’re wondering what the link is, here’s a quick summary:
This is one of those happy instances where economics, common sense and the data align.
Then the market responds- not only do these employers create more jobs, but also going to offer better jobs to attract capable workers to their companies.
Ultimately, a reliable source of income is the catalyst to moving out of poverty.
Sounds too simple? Trust the numbers.
Imagine a state-of-the-art processing plant that harnesses laser-sorting technology to produce a whopping 15,000 tons of raisins a year, linking up thousands of local farmers to international markets and providing job opportunities to women.
To find such a world-class facility, look no further than
In Afghanistan’s volatile business environment, let alone its deteriorating security, Rikweda’s story is an inspiration for budding entrepreneurs and investors.
It also is an illustration of the government’s reform efforts to create more opportunities for Afghan businesses to open and grow, which were reflected in the country’s record advancement in the Doing Business 2019 index, launched today by the World Bank.
And Afghanistan is not the only South Asian country this year that took a prominent place among top 10 improvers globally.
. Its ranking has improved by 23 places this year and puts India ahead of all other countries in South Asia. This year, India is ranked 77th, up from 100th last year.
Meet Mohammad Naim, a saffron farmer in Afghanistan’s Herat province. In 2013, Naim launched a new business, the Taban Enterprise Group after he and his partners received training and attended agriculture fairs nationwide.
Taban cultivates, processes, and markets saffron, and since its founding, it has steadily improved the quality of its saffron and expanded operations. .
Since 2010, the Afghanistan Rural Enterprise Development Project (AREDP) has linked rural producers with markets and helped villagers form savings and credit groups to create businesses or expand their small enterprises.
با نعیم یکتن از متشبثین محلی در ولایت هرات، که در عرصه تولید زعفران مصروف کار است، آشنا شوید. در سال ۲۰۱۳ میلادی، نعیم و چند تن از شرکای او پس از اشتراک در یک سلسله برنامه های آموزشی در بخش زراعت و همچنان اشتراک در چندین نمایشگاه داخلی، تصمیم گرفتند یک شرکت تجارتی را بنام تابان تاسیس نمایند. شرکت متذکره که در بخش های کشت، پروسس و فروش محصول زعفران فعالیت را آغاز نمود، در مدت کم توانست با بهبود کیفیت تولید زعفران و گسترش فعالیت های تجارتی فراتر از مرز های افغانستان شهرت کسب نماید. بطور اوسط سالانه ۱۲۰ زن در این شرکت به منظور انجام کار های فصلی زعفران استخدام گردیده، تا در عرصه جمع آوری حاصلات و پروسس این نبات ارزشمند کار نمایند.
از سال ۲۰۱۰ بدینسو پروژه انکشاف صنابع روستایی افغانستان تولید کنندگان روستایی را با بازار ها وصل ساخته و همزمان با آن از طریق گروپ های پس انداز و گروپ های قرضه قریه، روستاییان را کمک نموده، تا برایشان تجارت های کوچک ایجاد نموده و یا تشبثات کوچک شان را توسعه دهند.