Many countries struggle with creating more and better jobs, especially when they try to increase the number of women in the labor market. Integrating women from more traditional, rural communities is especially difficult. And, if we are talking about a country with the second lowest female labor participation in the world, it might seem like an impossible task. This is exactly the situation that Hashemite Kingdom of Jordan faced a few years ago, and today they provide an interesting example of how innovative policies can address this challenge.
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For over a hundred years, electrical grids have been built with the assumption that electricity has to be generated, transmitted, distributed, and used in real time because energy storage was not economically feasible.
This is now beginning to change.
Supporting populations in fragile and conflict-affected situations (FCS) is a key priority for the World Bank Group. The Group’s President, Jim Yong Kim, has repeatedly stressed the importance of finding ways to bring sustainable peace and development to these difficult contexts. According to the World Development Report 2011: Conflict, Security, and Development, more than 1.5 billion people in today’s world live in FCS, or in countries with high levels of criminal violence.
Apart from the very human cost of fragility, it colors foreign investors’ perceptions of risk, especially political risk, affecting private sector activity. This begets a vicious cycle, where economies worsen, increasing fragility. The importance of political risk, including political violence, in the perceptions of investors is well documented, including in the annual MIGA-EIU surveys presented in MIGA’s World Investment and Political Risk report. In particular, MIGA’s 2011 report focused specifically on investing into FCS, and the survey results demonstrate that political violence remains a very serious factor inhibiting investment.
Aside from capital, foreign direct investment (FDI) can bring essential knowledge and technology across borders. These benefits are often what make FDI so sought-after by policy makers. But investors have to consider the return on their investment relative to the risks they are taking, especially political risks such as expropriation, currency convertibility and transfer restrictions, breach of contract by the sovereign, and war and civil disturbance.
|The ocean represents transport, food, culture and livelihoods for people of the Pacific.|
A few years ago in Papua New Guinea on a holiday I was lucky enough to spend a day with a fisherman who took me out on his dugout canoe. For hours we slowly skimmed along the surface of the ocean, the clear water providing a wonderful lens to the world below teeming with life. Fish, starfish, coral, eels, plants—a world beyond my wildest imagination.
He pointed out the plants he ate and others he used as traditional medicine. He showed me innocuous-looking creatures that would spell certain death. He showed me the craggy hiding hole of the tail-less crocodile that was the lead character in village folklore. He showed me the fish he caught that fed his family and provided him with an income and how his father had taught him to catch them, like he too had taught his children.