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Despite low commodity prices, growth prospects in low-income countries remain robust

Gerard Kambou's picture
Large agricultural sectors, remittances, and public investment have cushioned the impact of sharply weaker terms of trade in commodity-exporting low-income countries (LICs). Growth in LICs was flat in 2014, but is expected to pick up in 2015 and remain robust during 2016–17.  Declining commodity prices, however, are likely to increasingly put pressure on fiscal and current account balances of LICs that rely heavily on exports of energy and metals. Many commodity-exporting LICs have limited buffers to absorb this deterioration.

Using climate smart agriculture to build farmers’ resilience in Senegal

Aifa Fatimata Niane Ndoye's picture
Mamadou Faye is a sorghum farmer in Pointe-Sarene, Senegal. Thanks to the West African Productivity Program, he was able to grow healthy stalks of sorghum despite erratic rainfall.
World Bank / Daniella Van Leggelo-Padilla

In Bangladesh, a STEP closer to job opportunities

Yann Doignon's picture
In a globalized economy, possessing the right set of skills is critical and determines one’s life opportunities and successes. Since 2010, the Skills and Training Enhancement Project (STEP) has helped underprivileged citizens in Bangladesh acquire new skills to improve their job prospects. Through STEP, the Government of Bangladesh has enhanced access and quality of technical education and training, especially for women, and introduced innovative programs such as “Recognition of Prior Learning.”

Here are 3 videos highlighting areas of the program and citizens who benefited from it:
 
Better Education for Better Jobs, One STEP at a Time
In this video, STEP participants talk about their life struggles and how STEP helped them build a better life for themselves.

 
Vocational training for better jobs-- TV commercial, Bangla version
Vocational training for better jobs-- TV commercial, Bangla ve...

This commercial ran on Bangladesh local TV channels in 2015 as part of the Skills and Training Enhancement Project (STEP), which supports the Government of Bangladesh in promoting vocational training and helping poor students find better jobs. The video encourages students to change their mindset and join more economically-viable vocational training courses of their own interest.

Posted by World Bank Bangladesh on Monday, August 17, 2015
This commercial ran on Bangladesh local TV channels in 2015 as part of the Skills and Training Enhancement Project (STEP), which supports the Government of Bangladesh in promoting vocational training and helping poor students find better jobs. The video encourages students to change their mindset and join more economically-viable vocational training courses of their own interest.
   

Quote of the Week: Barrie Goodridge

Sina Odugbemi's picture

Hong Kong football spectators“You can change your home, you can change your country, you can even your wife, but you can never change your football team.”

- Barrie Goodridge, veteran of the publishing sector and former CEO of Edipresse Asia. In 1983, Goodridge joined Asiaweek, rising to the position of Publisher before leaving to join Global Sources Media Group. In 1997, he became the CEO for Asia of Publicitas Promotion Network (PPN), the international division of PubliGroupe. He joined Edipresse in 2004 as Regional Director for Asia and was later appointed CEO of Edipresse Asia in 2005.

Emissions trading in China: Early lessons from low-carbon pilots

Lasse Ringius's picture

 

A local emissions exchange in China. Lasse Ringius/IFC
A local emissions exchange in China. Photo: Lasse Ringius/IFC

 

China, the biggest source of CO2 emissions globally, accounts for more than 27 percent of the world's emissions. China is the first developing country to control CO2 emissions through a cap-and-trade system. Once a national carbon market is established, which could be as early as 2017, China will overtake the European Union (EU) to become the biggest carbon market in the world. The Chinese market will significantly alter the balance of power in global carbon markets in the mid-term. Significant challenges remain, and the IFC, a member of the World Bank Group, is helping China to overcome them with a project in Shenzhen that addresses key barriers to carbon trading.

Fundamentals of Emissions Markets

Once a liquid carbon market has been created, trading will mostly happen via forward and futures contracts. These instruments help companies to protect themselves against volatile prices and to hedge their carbon position. In the EU, exchange platforms emerged as one of the main mechanisms aimed at simplifying transactions, reducing risk and facilitating transparent pricing. As trading platforms, exchanges can facilitate price discovery and offer hedging products.

The financial sector and financial institutions (FI) play a fundamentally important role in an emissions trading system. It is to be expected that most companies in China will trade with the help of intermediaries; only large emitters will trade directly at an exchange. Thus, FIs will be in a position to offer trading-related services, as well as advisory products, to clients subject to mandatory CO2 regulation.

PM Modi’s visit to the Non-Resident Indians (NRIs) in the UAE

Dilip Ratha's picture
Q&A with Natalie Obiko Pearson, Bloomberg News

1. Why are remittances so important to India's economy?


India received $70 billion in remittances last year, and is expected to receive over $72 billion this year. That makes remittances one of the largest sources of foreign exchange for India, larger than its IT exports. Remittances directly flow to the migrants’ families, helping them finance purchases of essential items, housing, school and medical services. Remittances act like an insurance for Indian households, increasing in times of need (such as weddings, funerals, natural disasters). They also act like an insurance for the country, rising in times of financial difficulties, such as when external private capital flows decrease and the rupee weakens. They reduce poverty and increase human capital by enabling schooling and medical services. They also provide much needed funding for business investments for households.

What Open Data can do for Africa’s growing population

Luda Bujoreanu's picture

Back in June I rushed to take a front seat at one of the World Bank conference rooms to hear Dr. Hans Rosling speak. We had met years ago in Moldova, and just like last time, his talk was sharp, funny and full of “aha” moments. 

He unveiled what the future holds: the global population will almost double by 2100, with Africa — a continent where I have worked for the last five years — leading in explosive population growth between 2015 and 2050.

Today, African governments struggle to deliver basic services to their people  including and particularly to the very poor and marginalized  across sectors, most notably health, sanitation, and education. Food security is likewise a crucial issue for the region, as are so many others: environmental sustainability, disaster risk management, economic development and others.  

4,100 Pakistanis share their aspirations — and ambitions — for their country

Yann Doignon's picture
Pakistan: Window of opportunity

​Economic and social development should not be left to economists and specialists only.

This message is manifested in “Window of Opportunity,” a video highlighting the ambitions and goals of the World Bank’s 2015-19 Country Partnership Strategy in Pakistan.  
 
Truck drivers, entrepreneurs, doctors, teachers and thousands of other citizens from Pakistan shared their ideas and helped identify opportunities and challenges to guide future policies and action areas.
 
These individuals come from a myriad different backgrounds but are united by a common drive to open up windows of opportunities for Pakistan.

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Valerie Lorena's picture

Also available in: Français | العربية
 



A boat trip from Port Elizabeth to Kingstown, in the Caribbean country of Saint Vincent and the Grenadines, is a one-hour trip that locals take several times a day. It was during one of these journeys that the boat of Kamara Jerome, a young Vincentian fisherman, ran out of gas six miles from Bequia City in what is termed locally as the "Bequia Channel." While waiting for help with strong wind gusts and the sun on his head, the idea of developing a boat that would run with wind and solar energy was born. Soon after, the idea became a prototype; a boat using green technology was on the water making 20-year-old Jerome a winner of international innovation competitions and a role model to other Caribbean youth. 
 
In Mexico, young engineer Daniel Gomez runs a multimillion bio-diesel company originally conceived as a research project for his high school chemistry class. Gomez and his partners - Guillermo Colunga, Antonio Lopez, and Mauricio Pareja - founded SOLBEN (Solutions in bio-energy in Spanish) in their early twenties. 
 
Although Daniel and Kamara have different educational backgrounds, they do share one important skill, the ability to identify a problem, develop an innovative solution, and take it to the market. In other words, being an entrepreneur, an alternative to be economically active, that seems to work and not only for a few.

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