Last year, Afghanistan became the 60th country to join Scaling Up Nutrition (SUN), a global movement to end malnutrition, and thus signaled its strong commitment to invest in a better future for its citizens.
On the other hand, a well-nourished child tends to complete more years of schooling, learns better, and earns higher wages in adulthood, thereby increasing the odds that he or she will escape a life of poverty.
The mobile money market is booming in Somalia. Approximately 155 million transactions, worth $2.7 billion or 36% of gross domestic product (GDP), are recorded every month. Mobile money accounts for a high proportion of money supply in the domestic, dollarized economy and has superseded the use of cash; seven out of 10 of Somalis use mobile money services regularly.
The purpose of any education system is to equip learners with the ability to live a fulfilling and productive life. Currently, East Asia is home to seven of the top ten education systems in the world. Despite impressive achievements, these above-average performing systems are not resting on their accomplishments—they continue to deepen the quality of education, tying learning to new and emerging needs. Central to the region’s curriculum reform is a focus on teaching and measuring 21st century skills.
The numbers are in: India now ranks 44th in the latest edition of the World Bank’s Logistics Performance Index, a relatively high score compared to other countries at similar income levels. This number matters not just to the logistics sector, but to India’s economy as a whole. Indeed, logistics can directly impact the competitiveness of an entire market, as its ability to serve demand is inextricably linked to the efficiency, reliability and predictability of supply chains.
Broadly defined, logistics covers all aspects of trade, transport and commerce, starting from the completion of the manufacturing process all the way to delivery for consumption. To say that it is a complex business is an understatement.
First, there is always a delicate balance between the public arm, which provides the roads, railways and waterways, and lays down the rules and regulations, and the private sector, which has responsibility for carrying out logistics operations in a smooth and seamless manner. This fine interplay is further complicated by the globalization of manufacturing which—with many more ports of call in the logistic chain—is putting ever-increasing pressure on the sector. In addition, there are very practical challenges in integrating different modes of transport, in speeding up border crossings, and in dealing with trade protections–all of which impact external trade.
But as difficult as it might be, creating a well-functioning logistics sector is essential to any nation looking to compete in the global economy. India is a case in point. To fuel its global ambitions, the country has taken active steps to up its logistics game.
New York City faced a challenge in the 1990s: the city needed a new water filtration system to serve its nearly 8 million people. But the prospect of spending $6 to 10 billion on a new water treatment plant, and another $100 million on annual operating costs, was daunting. So, city officials took a closer look at the source of their water—the Catskill Mountains.
Water from the Catskills flows through 120 miles of forests, farmlands and towns to reach New York City. When that landscape is healthy, it acts as a natural purifying system, but certain development and agricultural practices can result in impaired water quality. For city officials, reaching out to local farmers and landowners and compensating them to restore and conserve their lands in the watershed, combined with some land acquisition, proved to be significantly cheaper than building and operating a new treatment plant.
The G20, World Bank Group, International Monetary Fund, and African Development Bank are partnering in a new way to stimulate private investment in Africa
The Compact with Africa brings together the G20, the World Bank Group, International Monetary Fund, and the African Development Bank to spark greater private investment in Africa
Compact countries are Benin, Côte d'Ivoire, Egypt, Ethiopia, Ghana, Guinea, Morocco, Rwanda, Senegal, Togo and Tunisia.
The first Compact Monitoring Report shows significant progress implementing macroeconomic reforms, with more work needed to improve business environments and deepen financing frameworks.
Over the past year, many of my colleagues in international development have been asking about the G20 Compact with Africa: What exactly is it? What’s in it for African countries? How is it different from what we’re already doing? How does it complement or further the World Bank Group’s ongoing work?
Their curiosity reflects a growing awareness of the role the private sector must play in helping Africa achieve its development goals. The G20, in addition to its high-profile summits and communiques, undertakes some really important work through several “tracks,” including the finance track consisting of G20 finance ministers and central bank governors. It was via the finance track that the Compact was launched in March 2017 under the German Presidency of the G20. It focuses on macro-financial issues that are foundational for enhancing infrastructure financing and for increasing private investment in developing countries.