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November 2017

World Bank Group Youth Summit 2016 winners build two computer labs in Afghanistan

Jewel McFadden's picture
Photo: ROYA Resources of Young Afghans.

This time last year, more than 400 excited youth filled the Preston Auditorium for the World Bank Group Youth Summit 2016: Rethinking Education for the New Millennium.

After receiving 875 submissions from young entrepreneurs, the Youth Summit Organizing Committee (YSOC) chose six finalists to pitch their ideas in front of a live audience and expert jury. ROYA Mentorship Program was one of two winners who received the grand prize to attend the International Council for Small Business 2017 World Conference in Argentina, funded by the World Bank’s Information and Technology Solutions (ITS)-Global Telecom and Client Services Department.

The yearly conference brings together the world's foremost specialists and thought leaders in entrepreneurial research to support management education for small businesses.

Pro-market activism: A new role for the state in promoting access to finance

Sergio Schmukler's picture

The debate on whether the state should play an active role in broadening access to finance or not is one that has lingered for decades. A recent book (de la Torre, Gozzi, and Schmukler, 2017) argues that a new a view has gained traction and is worth considering.  

What the World Bank missed when looking at the "law" in their Development Report 2017

Adrian Di Giovanni's picture
From left: World Development Report 2017 & World Development Report 2002

Editor’s note: This is the second installment of a two-part series. You can read part-one hereThe findings, interpretations and conclusions expressed herein are those of the authors and do not necessarily reflect the view of the World Bank Group, its Board of Directors or the governments they represent.

The Word Development Report 2017 on Governance and the Law rightly frames law in social terms – “but one of many rule systems” – and instrumental terms – “an important tool in the policy arena… in shaping behavior, in ordering power, and in providing a tool for contestation.”

A timely report on mobilizing Islamic finance for PPPs

Clive Harris's picture
Also available in: Français | العربية


Photo: Artit Wongpradu / Shutterstock.com

Islamic finance has been growing rapidly across the globe. According to a recent report by the Islamic Financial Services Board, the Islamic finance market currently stands around $1.9 trillion. With this growth, its application has been extended into many areas — trade, real estate, manufacturing, banking, infrastructure, and more.
 
However, Islamic finance is still a relatively untapped market for public-private partnership (PPP) financing, which makes the recent publication Mobilizing Islamic Finance for Infrastructure Public-Private Partnerships such an important resource, especially for governments and practitioners.  

What can we learn from Uganda on fighting deadly disease outbreaks?

Patrick Osewe's picture
Photo: Arne Hoel / World Bank

On September 20th, 2017, a young hunter, in his 30s, arrived at a health center in Kween District, located in Eastern Uganda, on the border with Kenya. He had symptoms of fever, bleeding, diarrhea, and vomiting. Within 5 days he was dead. Two weeks later, his sister also showed up at the same health facility: she had similar symptoms. Within a week, she too was dead. Posthumous samples confirmed that she had Marburg Virus Disease (MVD), one of the most virulent pathogens known to infect humans. On 19th October, the Ugandan government notified WHO and publicly announced an outbreak of MVD. Not long after this announcement, MVD claimed another victim – this time, the hunter’s brother.

Indonesia’s Social Assistance System: Praising Reforms But More Work Ahead

Pablo Acosta's picture



When the Bank did its first social assistance public expenditure review in Indonesia in 2012, the diagnosis was clear. Despite spending significant amount of resources in “welfare”, most of them were through expensive subsidies (fuel, electricity, rice) that were not necessarily benefiting the most vulnerable segments of the society. General subsidies represented 20 percent of total national budget, but household targeted social assistance programs were already making their way, increasing from 0.3 to 0.5 percent of GDP between 2004 and 2010. Still, there was an overall dissatisfaction on what had been achieved, with the Gini coefficient rose by about 6 percentage points in the period of 2005 to 2012.

With more than 27 million people still considered poor and as one of the countries in the East Asia and the Pacific region that has one of the highest income inequality levels, the coverage expansion and social assistance system strengthening is a must. Fortunately, the situation in the social assistance sector has changed dramatically.

Believing in the future - a road trip to rural Guinea

Mamadou Bah'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.

Hot off the press: The Global Financial Development Report 2017/2018: Bankers without Borders

Asli Demirgüç-Kunt's picture

GFDR 2018 cover image The decade before the 2007–09 global financial crisis was characterized by a significant increase in bank globalization, which also coincided with dramatic increases in bank size. International banks became the cornerstone of many financial systems around the world, also in developing countries. Proponents of international banking emphasized the potential gains in terms of much-needed capital, know-how, and technological improvements that foreign banks bring, leading to more competitive and diversified banking systems, improved resource allocation, and greater financial and economic development.

However, the global financial crisis has led to a significant re-evaluation of this conventional wisdom. With the crisis, there was a backlash against globalization in general, and the emphasis shifted to the role international banks can play in shock transmission. Developing countries felt the impact of retrenchment by global banks. Global banks were criticized for taking excessive risks. Financial Stability Board (FSB) and the G20 voiced concerns about how to deal with the resolution of too-big-to-fail banks. As a result, regulations and restrictions got stricter in many countries, particularly in developing countries, further contributing to the retrenchment kicked off by the crisis.

Global Financial Development Report 2017/2018: Bankers without Borders, the fourth in the series, brings to bear new evidence on the debate on the benefits and costs of international banks, particularly for developing countries. It provides figures on recent trends, emerging patterns since the global crisis, and evidence on the economic impact of international banking. The goal is to synthesize evidence and data to contribute to the policy debate on international banking.

If the World Development Report 2017 had one or two more chapters on the law

Adrian Di Giovanni's picture
Photo: World Bank

Editor’s note: This is the first installment of a two-part series. You can read part-two hereThe findings, interpretations, and conclusions expressed herein are those of the authors and do not necessarily reflect the view of the World Bank Group, its Board of Directors or the governments they represent.
 
The World Development Report 2017 on Governance and the Law has cast some much welcome attention on the role of law in development. Compared to other sectors, international aid to the justice sector has been relatively low: only 1.8% of total aid flows, compared with 7.4% and 7.5% for the health and education sectors respectively between 2005 and 2013. More than that, the WDR 2017 is commendable for successfully articulating a positive and coherent if cautious view of law’s role.


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