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July 2018

IDA 18: Off to a strong start, as demand continues to grow

Axel van Trotsenburg's picture
Also available in: Español | Français | العربية


We are now a year into implementation of IDA18, the three-year funding cycle for IDA, the arm of the World Bank Group that provides financing to the poorest countries. And IDA is off to a strong start. Total commitments reached $24.0 billion this year, more than double the average of the first year in IDA15 and IDA14. This is also over 40% higher than the average volume we saw for the first year of IDA16 and IDA17.

Part of the growth springs from how we set up IDA18, in response to calls from the G20 and international community for the World Bank Group to innovate in every way we can to help achieve the world’s Sustainable Development Goals for 2030.  And despite extraordinary global challenges, our donors agreed to provide $27 billion in grant contributions to support IDA18’s $75 billion financing to client countries. 

The potential of the Blue Economy

Björn Gillsäter's picture
Home and boats on the water. © Curt Carnemark/World Bank
Home and boats on the water. © Curt Carnemark/World Bank

While working in the Galápagos Islands in the late 1980s, I saw the interplay between the many interests on the islands: local fishermen taking advantage of the rich waters around in the archipelago; the research community building on the evolutionary theories discovered by Charles Darwin; the tourism sector responding to an ever-growing interest in the accessible and unique wildlife and fauna; and the rights of the Ecuadorian state to benefit from this national asset. Finding a way to balance these – sometimes conflicting – interests in a manner that allows for sustainable and equitable growth is what we today call the Blue Economy.
 
The blue economy provides food, jobs, water, and is a source of economic growth. It provides the livelihood for hundreds of millions of the poorest and most vulnerable people in the world. By one estimate, it generates USD 3-6 trillion to the world economy. If it were a country, the oceanic economy would be the seventh largest in the world.

Women wavemakers: Practical strategies for closing the gender gap in tech

Alicia Hammond's picture
Also available in: العربية | Español
© Andela Kenya
© Andela Kenya

“Degrees get you the job, but they don’t help you to keep it.” Virginia Ndung’u, a trainee at Nairobi’s software developer accelerator Moringa School highlights one of the many challenges in ensuring students are prepared for the digital economy.

Technology is changing the skills needed for work, and increasing demand for advanced cognitive skills, socio-emotional skills and greater adaptability, as the 2019 Report on the Changing Nature of Work finds, building on the World Development Report 2016: Digital Dividends. As technology becomes prevalent in other sectors, the demand for tech skills is increasing, even for entry-level positions. 

Investing in prevention: A new World Bank Group approach to crisis

Kristalina Georgieva's picture
Also available in: Español | العربية | Français
© Riyaad Minty/Creative Commons
© Riyaad Minty/Creative Commons

Benjamin Franklin famously said, “An ounce of prevention is worth a pound of cure.”  This was his message to Philadelphians on how to avoid house fires, at a time when they were causing widespread damage to the city and its people.

His words ring true today, as we face global crises – natural disasters, pandemics, violent conflicts, financial crises, and more – that hit rich and poor countries alike, and have lasting consequences especially for the world’s most vulnerable people. They can take the lives of millions of people and cost the world trillions of dollars in damages and lost potential.

DRC: An Ebola story with a different ending

Jim Yong Kim's picture
Also available in: 中文 | العربية | Español | Français
© WHO/S.Oka
© WHO/S.Oka

The 9th Ebola outbreak in the Democratic Republic of Congo (DRC) has officially ended today —77 days and 28 deaths after an outbreak was declared on May 8. For the families of those 28 Ebola victims, the declaration comes too late—a loved one was lost to a disease that should be both preventable and treatable. That is always a needless tragedy.
 
Today is also a day to acknowledge that we have taken a momentous step forward in breaking the cycle of panic and neglect when it comes to outbreaks. Only two-and-a-half months ago, another pandemic seemed probable: an Ebola outbreak in three remote provinces, which spread quickly to the urban center of Mbandaka on the busy Congo River, appeared likely to spread rapidly around the country or even the region. 

Technology can help spring workers from the informality trap

Kristalina Georgieva's picture
Also available in: 中文 | العربية | Français | Español
Women stitch handicrafts at Everest Fashion Fair Craft in Lalitpur, Nepal. © Peter Kapuscinski/World Bank
Women stitch handicrafts at Everest Fashion Fair Craft in Lalitpur, Nepal. © Peter Kapuscinski/World Bank

Technology and what it will do to change how we work is the driving obsession of the moment. The truth is that nobody knows for sure what will happen – the only certainty is uncertainty. How then should we plan for the jobs that don’t yet exist?
 
Our starting point is to deal with what we know – and the biggest challenge that the future of work faces – and has faced for decades – is the vast numbers of people who live day to day on casual labor, not knowing from one week to the next if they will have a job and unable to plan ahead, let alone months rather than years, for their children’s prosperity. We call this the informal economy – and as with so much pseudo-technical language which erects barriers, the phrase fails to convey the abject state of purgatory to which it condemns millions of workers and their families around the world.

What will be the future of work?

Jim Yong Kim's picture
Also available in: Français | العربية | Español | 中文


Do you wonder if the good fortune and opportunities that you’ve enjoyed in your professional life will be available to your children, and to their children? At a time of strong global economic growth, it may seem paradoxical that we face an existential crisis around the future of work. But the pace of innovation is accelerating, and the jobs of the future – in a few months or a few years – will require specific, complex skills. Human capital will become an ever more valuable resource.

In short, the changing nature of work – and how best to prepare people for the jobs of the future – are some of the toughest challenges countries face, which is why they’re the subject of this year’s World Development Report.

Because the future of work matters to all of us, we decided to give this report an unprecedented level of transparency. For the first time since the World Bank began publishing the WDR in 1978, the report is completely transparent throughout the writing process. Every Friday afternoon, the latest draft is uploaded to the World Bank website, so that anyone with internet access has an opportunity to read it and engage with the team of authors. I can’t promise that the WDR won’t have changed a week from now, which is why I encourage you to keep revisiting it as we keep revising it.

For new readers, here are a few insights into the report’s contents that I hope will get you thinking about the future of work: