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February 2012

Sports Program Helps Children Overcome Despair of Poverty

Matthew Spacie's picture
Lancinet Keita. Photo: Mamadou Bah

On my first project visit since joining the World Bank, I had a chance to accompany the Productive Social Safety Nets project team across the country to the Fouta Djallon region, in the northern part of Guinea, for the launch of their Labor Intensive Public Works (THIMO) activities. This trip allowed me to see firsthand what extreme poverty is. You hear and read about it, but I had the opportunity to meet people who experience it every day. I say opportunity, because going through this further humbled me, gave me more determination, and added purpose to the need to tell their stories—stories of their struggles and their achievements.

Poverty affected about 55% of Guinea’s population in 2012, but this percentage is likely to have increased as a result of the Ebola crisis and economic stagnation in 2014 and 2015. Poverty in Guinea is highly concentrated in the rural areas, where the poverty headcount rate remains far higher (65% in 2012) than in urban centers (35%). The lack of infrastructure, and limited economic opportunities and access to education all create a major development issue for these areas.

Humanizing health systems

Adam Wagstaff's picture

Fiber optic light bokeh. Source - x_tineDigital entrepreneurs have the potential to connect to global markets like never before. Whether selling physical goods on internet platforms, or providing digital goods and services that can be downloaded and streamed, an entirely new ecosystem of innovative micro and small businesses has emerged in the developing world.
 
The World Bank Group hosted some of the pioneers in this space for a full-day conference on Harnessing Digital Trade for Competitiveness and Development on May 19. Here, we heard entrepreneurial success stories—an online platform for jewelry in Kenya, a provider of software solutions in Nepal, an online platform for livestock trade in Serbia—and dove into the constraints and challenges of running a digital business in an emerging economy.
 
The scope of these challenges made these success stories, and the broader potential they represent, even more inspiring. From internet connectivity to logistics, from financial payments to trade regulations, from bankruptcy laws to entrepreneurial and consumer digital literacy-- clearly, more needs to be done to fully harness the potential of digital trade for competitiveness and development and to foster an enabling environment to digital trade.

A State of Hope in a State of Uncertainty

Otaviano Canuto's picture

Photo: Dmitry Kirillov / World BankIn a world in economic turmoil, calls for greater fiscal austerity, leaner social entitlements, and smaller government expenditures are seemingly ubiquitous. From the United States to the Euro Zone, the size and role of government are being questioned. Yet, at the same time, the recent financial crisis has highlighted the importance of the state as a regulator of the financial system.

One Day on Earth: A small business means more security for a woman in Laos

Mehreen Arshad Sheikh's picture

Where are IFC’s SME clients located? How much has IFC invested in infrastructure projects in Africa? How have IFC’s investments in different sectors changed and grown over time?

For the first time, users will be able to find the answers to these and many more questions about International Finance Corporation’s (IFC) work on the World Bank Group’s Open Finances website. Eight data sets with detailed information on IFC’s financial commitments and projects are now available for the public to slice, visualize and share in the ways that they choose.

When the Intellectual is a Thug

Sina Odugbemi's picture

As a rule, when intellectuals contribute to public debate on any issue of public concern in any country, it is an entirely wholesome development, and one deserving every encouragement. That is truer if the intellectuals involved know how to communicate even the most abstruse area of knowledge vividly, clearly, compellingly. For, when we say we desire ‘informed public opinion’, one of the best ways of bringing that about is by encouraging well-trained minds on any subject relevant to a public policy question of general concern to help their fellow-citizens by throwing a bright light on the subject. That is why news and current affairs editors everywhere try to maintain a roster of experts that can be called upon to comment on issues occasioning public controversy.

WEIRD samples and external validity

Jed Friedman's picture

Two weeks ago, on World Water Day (March 22), I was privileged to represent the World Bank’s Water Practice at a conference called: “Watershed: Replenishing Water Values for a Thirsty World” in Vatican, sponsored by the Pontifical Council for Culture of the Vatican, the Circle of Blue and the Club of Rome.

Pope Francis opened the conference and gave a special welcome. “I am happy that this meeting is taking place, for it represents yet another stage in the joint commitment of various institutions to raising consciousness about the need to protect water as a treasure belonging to everyone, mindful too of its cultural and religious significance,” he said. 

While I went to the event with high expectations, I had not expected the rush of emotion that I felt as the Pope delivered this message on water - and how intensely personal these words felt to me in my 30th year of working on delivering water and sanitation services to communities in developing countries.

Educational technology and innovation at the edges

Michael Trucano's picture

Lily pads on lakeA helpful way for young math students to grasp the concept of exponential growth is to look at water lilies growing on a pond. They grow exponentially and double in area each day. If they will fully cover the pond by the 30th day, on what day is the lake half covered? The twenty-ninth day[1].
 
This year I had the honor of teaching 4th year energy systems students who will graduate later this month (their blogs on energy issues will be presented on this site over the summer). These graduates are particularly essential. During their careers they will be part of the world’s largest ever city-building spree. Their task will be to again double the world’s cities.

New Paper on Financial Regulation Recognized by ICFR and Financial Times

Asli Demirgüç-Kunt's picture

More than three years after the onset of the global financial crisis, a plethora of regulatory reforms are being put in place. The Basel Committee has prepared new capital and liquidity requirements, and the Financial Stability Board has kicked off an impressive agenda of reform. But implementation has been far from straightforward, and domestic priorities have often been in conflict with attempts at regulatory convergence. Against this background, the International Centre for Financial Regulation (ICFR) and the Financial Times invited submissions for a research prize in financial regulation, calling for essays that would consider “what good regulation should look like”.

The call resulted in an interesting set of ten top-rated essays. One of them is a new paper that we co-authored with R. Barry Johnston, based on some of the background work for the World Bank’s upcoming 2013 Global Financial Development Report. In our piece (which of course represents only our views and not necessarily those of the World Bank), we answer the organizers’ question by saying that “good regulation needs to fix the broken incentives.” Or, to paraphrase a 1990s campaign slogan, “it’s the incentives, stupid.”

Think Young, Act Fast, Re-Use

Samia Melhem's picture

Approximately 50 percent of the global adult population - or 2.5 billion people - are excluded from the formal financial system. Who are the unbanked? The vast majority of these adults are concentrated in the developing world - only a third of South Asians, a quarter of Sub-Saharan Africans, and less than a fifth of Middle-Easterners and North Africans have an account at a formal financial institution (Demirguc-Kunt & Klapper, 2012). Why are these people unbanked? A shortage of money, excessive cost, distance to a bank, and documentation requirements are reported by the unbanked themselves as the main barriers to financial access.

Somali Remittance Freeze: What Can Be Done About It?

The remittance freeze is impacting Somali families that rely on relatives in America (photo credit: Trocaire, Flickr)Minneapolis has the largest Somali population in the US. Sending remittances to Somalia was put at risk late December when the Sunrise Community Bank in Minneapolis announced that it was going to close the accounts of all Somali remittance companies on December 30th 2011.To our knowledge, the Sunrise Community Bank was the last bank that was serving Somali remittance companies in Minneapolis. Closure of accounts meant no operation for remittance companies. This in turn meant no money for remittance-dependent Somalis, who had no other options since remittance service providers such as Western Union and MoneyGram didn’t operate in Somalia. Aid groups lobbied to challenge the closure, and their petition reached all the way up to President Obama.


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