What if you had no secure, affordable way to save money, pay bills, or obtain a business loan?
- financial inclusion
Three trends in the global financial market are converging to make sukuk, the Islamic financial instrument most similar to a conventional bond, a potentially viable form of finance for green investments: (1) banks are reluctant to finance infrastructure due to stricter capital requirements; (2) an increasing number of investors are interested in ‘environmentally sustainable investing’ (in other words, investing to promote activities seen as positive for the environment); and (3) the market for sukuk is growing significantly. While these three trends are distinct and not obviously related, taken together, they create a market opportunity for sukuk to be used as a tool to finance environmentally sustainable infrastructure projects.
The need for significant infrastructure spending is obvious in both developed and developing countries. From crumbling transportation infrastructure in the United States to inadequate power generation capacity in India, the evidence is clear that improving infrastructure is a global priority. At the same time, popular concern about climate change and the detrimental impact of increasing greenhouse gas emissions has also made improving infrastructure in an environmentally sustainable manner a priority.
The #EachDayISee photo contest wrapped up on February 13, having received more than 1,400 submissions. To say that the number and quality of the entries exceeded all our expectations would be an understatement. We asked you to share your view of the world, and the visual stories we received from every region were breathtaking. Beyond the photos themselves, most submissions included detailed captions that set the context and helped viewers understand the stories behind the photos.
Congratulations to every #EachDayISeeFinalist! Please check out the finalists using #EachDayISeeFinalist and vote for your favorites. Voting ends on March 9 at 9 am ET. @interior_girl0 @ginamardones @aliveinnyc @javierimedinac @dereknazley @ahmadmousa @roman_social @emfeltson @dickarruda @arlethzarate @suzannemariew @helpintl @nineteenfiftyone @sarafarid #EachDayISee #finalists #endpoverty #takeon
By Stéphane Hallegatte, Mook Bangalore, and Francis Samson Nkoka
Malawi is no stranger to significant flooding. In January 2012, floods affected more than 10,000 people and caused US$3 million worth of damage to households and infrastructure. But this year’s floods are much larger in magnitude, even unprecedented.
Beginning in early January, heavy rains triggered significant flooding in the southern and eastern districts of the country. The districts which experienced the largest impacts include Nsanje and Chikwawa in the south and Phalombe and Zomba in the east. So far, the flooding has affected more than 600,000 people, displaced over 170,000, and damaged agricultural crops covering more than 60,000 hectares.
While aggregate numbers and economic cost indicate the seriousness of the event, it is critical to look at exactly who is affected in the country. We have found that the poorest are on the front line.