Yemen is facing an unprecedented political, humanitarian, and development crisis. Long the poorest country in the Arab region, over half its population was living below the poverty line before the current conflict worsened. That number has risen steeply, with over 21.5 million people needing humanitarian assistance now—close to 80% of the country’s 28 million people.
The World Bank Group’s Open Learning Campus (OLC) launched a free Massive Open Online Course (MOOC) today — Policy Lessons from South Korea’s Development — through the edX platform, with approximately 7,000 global learners already registered. In this MOOC, prominent representatives of academic and research institutions in South Korea and the United States narrate a multi-faceted story of Korea’s economic growth.
Why focus on South Korea? South Korea's transformation from poverty to prosperity in just three decades was virtually miraculous. Indeed, by almost any measure, South Korea is one of the greatest development success stories. South Korea’s income per capita rose nearly 250 times, from a mere $110 in 1962 to $27,440 in 2015. This rapid growth was achieved despite geopolitical uncertainties and a lack of natural resources. Today, South Korea is a major exporter of products such as semiconductors, automobiles, telecommunications equipment, and ships.
I was in India a few weeks ago and had the chance to visit some rural schools in Uttar Pradesh. When I was there, I met a group of adolescent girls who could potentially help close the country’s gender gap.
These girls board at school, where they get nutritious meals and are able to focus on their studies. The program purposefully targets 11 to 13-year-old girls from poor households who cannot afford to send their daughters to school. Some girls are also at risk of being married off early.
By keeping the girls in school at this critical juncture, they have a chance at a better life.
Parents told me that many of the girls at this boarding school were underweight and malnourished when they arrived. As they studied and ate and slept well, they slowly gained weight and got taller. As their knowledge grew, so did they.
But how many of these girls will go on to fulfil their true potential and add to their family’s income by joining the job market?
More and better data capturing the dynamics of GVCs are needed to help governments put in place appropriate policies that support GVC integration and boost employment and productivity in agriculture, manufacturing, and services, while also improving worker well-being, social cohesion, and environmental sustainability.
What would you expect in a mineral rich developing country? High Government revenues from the mineral resources? Not always, and definitely not in the case of Zambia - until recently.
Zambia has a considerable wealth of mineral resources and its economy depends heavily on these minerals. Zambia's primary export, copper and copper-related products, account for as much as 77% of the country's exports.
PPPs are designed to achieve improved access to assets, infrastructure and services over a significant number of years. They should have clearly identified objectives, specified outcomes, clear programs of investment over time, and relationships and performance targets to bring to life the Social and Economic Value Equations that underpin them.
As stated in my previous blogs, the Social and Economic Value Equation is:
英国金融市场行为监管局（Financial Conduct Authority）最早使用RegTech一词并将其定义为FinTech的一个分支。从定义来看，其“重点是那些能比现有手段更有效地促进监管达标的技术”。换言之，RegTech是能提高监管流程的效率、一致性和简便性的技术。
比如，将授权、市场监测、非现场监管和收集监管反馈等现有程序自动化——目前，很多程序都依赖于纸质文件、装订夹或Excel电子表格。例如，巴西中央银行（Central Bank of Brazil）开发出了用于远程审查的技术解决方案。利用被称为Siscom（监管支持与通信综合系统）的系统，监管机构可远程收集数据和文件，并与金融机构进行在线互动。系统将监管任务标准化，将官僚职能（比如，存档）自动化，使监管机构能在兼顾成本效益的情况下，覆盖小型金融机构，提高监管队伍的生产力。
Sovereign Wealth Funds (SWFs) currently have a very limited role in climate finance and green investment – reportedly, below the average for institutional investors. According to the Asset Owners Disclosure Project (AODP), which evaluates institutional investors on the basis of their low-carbon performance, five of the 10 lowest-rated large investment funds were SWFs.
However, the more progressive SWFs are currently divesting from assets with large climate-related risks, and some countries are pondering whether their SWF should take a more pro-active role in green finance. What lies ahead for SWFs in this rapidly changing landscape?
SWFs could have an impact on climate finance
The sheer amount of capital managed by SWFs means that their impact on green finance, while marginal historically, has the potential to become significant. According to the Sovereign Wealth Fund Institute (SWFI), SWFs hold assets worth approximately $7.4 trillion, and the total capital of SWFs has more than tripled over the last decade.
But SWFs’ mandate does not typically include green finance. To the extent that they have been active in this area, it has been to reduce climate-related risk to their portfolios – including exposure to fossil fuels. For example, last October the $22.6 billion New Zealand Superannuation Fund (NZSF) announced a strategy to address climate-change risks that represent a “material” issue for long-term investors, and to “intensify its efforts” in areas including alternative energy, energy efficiency and “transformational” infrastructure. Norway’s giant Government Pension Fund Global ($873 billion) has adopted similar policies to reduce climate-related risk.