Institutional investors increasingly hold the world’s purse strings, with a growing share of private savings. What will it take for financiers to allocate more of that capital in ways that align with development goals—in the long-term investments, particularly in infrastructure, that are needed to help lift more people out of poverty and boost shared prosperity?
To answer that question, the World Bank Group and the Government of Argentina convened the first ever Investor Forum on the eve of the G20 Summit in Buenos Aires. The Investor Forum brought together investors holding over $20 trillion dollars of assets, finance experts, government representatives, and development partners for a frank and practical conversation.
Globally, around 68.5 million people have fled their homes from conflict or persecution either as refugees, internally displaced persons, or asylum seekers. Contrary to what some may think, most of the displaced people don’t live in camps. In fact, it’s estimated that about 60%–80% of the world’s forcibly displaced population lives in urban areas.
The “urban story” of forced displacement is often compounded by its hidden nature. Compared to those displaced in camps, it is more difficult to track the living conditions of those displaced in urban areas, obtain precise numbers, and many are not recipients of humanitarian assistance.
At a press conference in Kigali, I took a question: is the country’s Vision 2050 is achievable?
We had just launched a new study, The Future Drivers of Growth Report, that was jointly produced by the World Bank and the Government of Rwanda. The question was well-asked, since the study explores Rwanda’s goal to become an Upper-Middle Income country by 2035, and a High-Income Country by 2050.
Japan has embarked on a major migration policy shift with a new law that passed the Upper House of the Diet in December 2018. Starting in April 2019, the new law will allow inflows of two types of foreign workers: (i) low-skilled foreign workers who would reside in Japan for up to five years and work in 14 specific sectors, including farming, construction, hospitality and shipbuilding sectors, but shall not be allowed to bring their family members, and (ii) foreign workers with a higher level of skills who would be allowed to bring their family members and could be allowed to live in Japan indefinitely (see Migration and Development Brief 30). According to news reports, Japan plans to induct 340,000 migrant workers over the next five years, though this may not be sufficient to compensate for a declining population which fell by 373,000 in 2017.
International Migrants Day is a call to disseminate information on international migration and look toward further understanding its intersection with economic growth and socioeconomic wellbeing. Here we draw on data from the World Bank Gender Data Portal to highlight four big facts about women AND international migration.
The passage of a public-private partnership (PPP) law is often hailed as a big step, one that allows private sector participation in infrastructure and public services. But that is no guarantee that a successful PPP will be enacted, even when the need is great.
We experienced this firsthand in the Kyrgyz Republic, where it took six years from the passage of the law to the day the country opened its first-ever PPP—a state-of-the-art dialysis clinic. We are extremely proud to have contributed to that effort—one that meets an urgent healthcare need while also demonstrating that well-designed PPPs, with the commitment and support of government, can deliver for both citizens and national development goals.
“Mother, you shall not fear as long as your sons live in Germany” goes a popular folk song in Kosovo. Its equivalent in Bosnia and Herzegovina says “I am from Bosnia, take me to America” and in Albania the most famous morning show goes by the motto “Love your country, like Albania loves America”. In these countries, migration and remittances are synonyms of economic prosperity in the homeland.
Throughout human history, migrants have not only fueled but they also lubricate the engine of human progress. The movement of people sparks innovation, spreads ideas and technologies, reduced poverty and inequality, and laid the foundations for today's globally interconnected economies.