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Long-term finance for infrastructure essential to ending poverty

Bertrand Badré's picture
Also available in: Français
A worker at a power substation in Kabul, Afghanistan. © Graham Crouch/World Bank

​Fifteen years from now, will you remember where you were when the UN General Assembly adopted the Sustainable Development Goals (SDGs)?

Friday, September 25, 2015 may not be one of those days that the general public will remark on, but it is a milestone in development history. The SDGs set a new and ambitious agenda that we at the World Bank Group, together with our partners, will work to achieve along with our own goals of ending poverty and boosting shared prosperity by 2030.

Guide to 2015 Annual Meetings webcast events

Donna Barne's picture
Also available in: Español | العربية | Français

The global economy, climate change, infrastructure, the food system – these are just a few of the hot topics that will be addressed in Lima, Peru, in the lead-up to the Annual Meetings of the World Bank Group and International Monetary Fund the week of Oct. 5. 

The annual gathering of ministers from 188 countries takes place just two weeks after a historic vote at the United Nations to adopt Sustainable Development Goals. Government ministers will again discuss the SDGs at the Oct. 11 meeting of the Development Committee of the World Bank Group and IMF.

Build it and growth will come

Dimitris Tsitsiragos's picture
Also available in: Français | Español | العربية | 中文
Solar panels in Morocco. © Dana Smillie/World Bank

By encouraging private investment in infrastructure, we can spur growth in the developing world

Later this month the United Nations is expected to finalize its Sustainable Development Goals, a global action plan designed to end poverty and support long-term growth. One of the goals states, “Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.” 
In many parts of the developing world, from Asia to Latin America, a massive infrastructure shortfall may be the single most significant obstacle to human and economic development. Addressing it will underpin progress on many of the SDGs.

A Food System that can feed everyone, everyday, everywhere

Juergen Voegele's picture
Also available in: العربية | Français | Español

Whether you’re a food producer or consumer, and no matter what part of the world you live in, I’m sure we can agree: The world needs a food system that can feed everyone, everyday, everywhere.

A food system that works for everyone can also create jobs and raise the incomes of smallholder farmers and rural residents who are 78 percent of the world’s poor people. After all, growth originating in agriculture is proven to be 2 to 4 times more effective at reducing poverty than growth originating in other sectors. An effective food system can also provide better nutrition, steward the world’s natural resources, and even be a part of the solution to climate change.

Tackling climate change – for our kids

Jim Yong Kim's picture
Also available in: العربية | Français | Español | 中文
If you have children or grandchildren, you probably have wondered what the world will be like for them in 20 or 30 years. Will it be a better place? Will climate change upend their lives? It's something I have thought about a lot since I became president of the World Bank Group in July 2012. Within the first few months in the job, I was briefed on an upcoming climate change report, and the findings shocked me. I knew then that tackling climate change would be one of my top priorities as leader of a development institution whose mission is ending extreme poverty by 2030 and boosting shared prosperity. If we don't start controlling climate change, the mission to end poverty will fail. Last week I delivered a lecture on climate change at Georgetown University in Washington, D.C., to a roomful of young people who are surely thinking of climate change's impact on their lives. Climate scientists project that if we do nothing to control carbon emissions, temperatures could rise as much as 4 degrees Celsius by the 2080s. Mean temperatures during the last ice age were 4.5 degrees to 7 degrees Celsius lower than today, and the temperature had changed gradually over millennia. We're talking about that kind of temperature shift occurring in the future over a very short period of time. Life on Earth would be fundamentally different.

A Public-Private Push for Infrastructure and ‘Inclusive Growth’

Donna Barne's picture
Also available in: العربية | Français

Swiss Re Group Chief Investment Officer Guido Fürer, European Investment Bank President Werner Hoyer, World Bank Group President Jim Yong Kim, and Australian Treasurer and Chair of the G20 Finance Track Joe Hockey at the signing ceremony for the Global Infrastructure Facility. © Simone D. McCourtie/World Bank

The idea of “Inclusive growth” and how to achieve it was talked about a lot in the days ahead of the 2014 World Bank-IMF Annual Meetings. Among the solutions on the table was a new initiative that could help unlock billions of dollars for infrastructure and improve the lives of many.

About 1.2 billion people live without electricity and 2.5 billion people don’t have toilets. Some 748 million people lack access to safe drinking water. The Global Infrastructure Facility (GIF) announced by World Bank Group President Jim Yong Kim this week hopes to lower these numbers by developing a pipeline of economically viable and sustainable infrastructure projects that can attract financing.

China’s Yang Lan Asks How to Help the Have-Nots

Donna Barne's picture
Poverty may be falling, but 1 billion people still live in extreme poverty. Inequality is growing everywhere. What is the World Bank Group doing about this?

The World Bank Group President Jim Yong Kim and World Bank Chief Economist Kaushik Basu had some answers in a live-streamed conversation, Building Shared Prosperity in an Unequal World, with Chinese media entrepreneur Yang Lan in the lead-up to the institution’s Annual Meetings on Wednesday morning.

Inequality Isn’t Hopeless. But You Need a Plan

Jim Yong Kim's picture

DAVOS, Switzerland – When we talk about particularly difficult issues at the World Bank Group, I always ask my team a simple question: What’s the plan?

If they have a plan, the next question I ask is whether the plan is serious enough to match the scale of the problem. Here at the World Economic Forum at Davos, one of the main issues before us is an extraordinarily tough one – how do we reduce the growing income inequality around the world? Income inequality has grown to enormous proportions but my question to World Bank staff and folks here in Davos is the same: What’s the plan to lessen income inequality across the world?

Income inequality can appear to be an intractable problem. But the fact is we already know a lot about how economies can grow in a way that includes even the poorest. We need a plan to tackle inequality and we think there are at least five things that we can do right now that could help.

Pulling the Tablecloth Out From Under Development Efforts - Without Breaking a Glass

Benedikt Lukas Signer's picture

Residents return from storm shelters to Ganjam district in Odisha after Cyclone Phailan made landfall. ADRA India / European CommissionWhen Cyclone Phailin struck the Indian states of Odisha and Andhra Pradesh last week, the predictions were dire. In 1999, a cyclone of comparable strength took 10,000 lives.
While Phailin affected up to 8 million people, leaving approximately 600,00 homeless, death tolls are currently estimated to be in the low double digits. What made all the difference between 1999 and today? A much improved early warning system, effective evacuations, and the construction of shelters probably played a crucial role. Credible forecasts and early warnings were available for several days before landfall, and close to one million people were evacuated.
Everyone who still thinks disasters are ‘natural’ should stop and consider this for a minute. This difference in impact is a real world example of an analogy discussed at the 5th Resilience Dialogue on Oct. 11, 2013.  Here’s my interpretation:
Remember that old magic trick where a tablecloth is pulled off a fully set table but (almost) nothing falls over?

PPPs: Infrastructure Is in Demand, So Where Is the Investment?

Jordan Z. Schwartz's picture

It should be celebration time for public-private partnerships and other forms of private investment in infrastructure.  The pent-up demand for infrastructure in the developing world has never been greater—over double the $900 billion per year being spent now, according to our rough estimates; and governments around the world are falling over themselves to show donors, strategic investors and creditors alike how committed they are to attracting private investment to infrastructure.

Private Investment in InfrastructureSomehow, as we release the 2012 data on private participation in infrastructure (PPI) across the developing world [see: PPI Database], I just can’t get myself to pop the champagne.  True, the march into higher levels of investment, uneven as it is, continues.  Commitments for PPI totaled $182 billion in 2012 and most developing countries clocked in with at least one private investment.  But the total is still less than 20 percent of what the developing world is spending on infrastructure, and less than 10 percent of what is needed to reach growth targets.  It is still less than one percent of GDP for developing countries.

If the demand is out there, what are all those investors scared of?