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Averting a gas shortfall in Ukraine through a World Bank guarantee

Richard MacGeorge's picture

Also available in: Spanish | العربية

After the devastating tsunami, the Southern coast road rebuilt with support from the World Bank. Photograph © Chulie de Silva

My mother Manel Kirtisinghe encapsulated what the loss of a loved one in the tsunami meant, when she wrote in her diary “What you deeply in your heart possess, you cannot lose by death." On 26 Dec. 2004, Prasanna went away leaving behind for me a lasting vacuum and a silent aching grief.” 
 
Prasanna was my brother and this year when we observe religious rituals in memory of him, my mother will not be there with us. She left us earlier this year. Prasanna was our bulwark and the trauma of his death was so intensely felt that it took us seven years to rebuild and return to our beloved house. My mother was happy to be back in the house she had come to as a bride in 1944, but she stubbornly refused to go to the back verandah or to walk on the beach - a ritual she did twice a day before the tsunami.
 
As my mother did, we all had our coping mechanisms to handle the pain. The grief is still with me hastily boxed and lodged inside me but about this time of the year the lid flies open and the horror spills out. The images gradually become more vivid, intense, horrifying. Like a slow moving movie, they appear…and the nightmares return.

Breathing new life into power utilities through debt restructuring tools

Teuta Kaçaniku's picture
Celebrating education. (Photo: World Bank)


As the editor of the World Bank’s education blog, I get weekly submissions from our education experts from all corners of the globe. Provocative and informative, our bloggers write about some of the education sector’s most hotly debated issues today.

Here are 2017’s most-read blog posts:

#10 There are cost-effective ways to train teachers

Teachers are the single most important factor affecting how much students learn. However, talent and heart aren’t enough to make a good teacher- as in all professions, one must train (and continue to train!) to be truly effective. This can be a big challenge in countries with fewer resources for education. Read about how 8,000 teachers in disadvantaged districts in Ghana upgraded their skills while simultaneously teaching in schools.

Guarantees light the way for clean energy through renewable auctions

Arnaud Braud's picture


Photo: Scaling Solar project in Zambia

What is a common thread between Argentina, Maldives, and Zambia? In each of these countries, the World Bank provided guarantees to support transparent auctions for renewable energy. Through these, I have seen how the Bank’s involvement helped increase private investors’ confidence, attract world-class developers, and ultimately reduce tariffs.

Drawing on 10 years of diverse experience in the power sector in both public and private organizations, my role is to help bridge the divide between public and private parties and help each side better understand the other. The World Bank is ideally positioned for this. Both sides understand the World Bank carries out a detailed due diligence and ensures the auction meets international standards. Both sides appreciate the World Bank will be an honest broker if issues arise. Because of its long term and continuous involvement in our client countries, the World Bank can help identify and solve issues early on. As such, no World Bank project-based guarantee has ever been called.

Maximizing concessional resources with guarantees—a perspective on sovereigns and sub-nationals

Sebnem Erol Madan's picture
Un élève interrogé par une recenseuse à Wewak, Papouasie-Nouvelle-Guinée. (Photo: Kabira Namit / World Bank)


Vous comptez donc vous lancer dans des travaux de recherche sur le terrain ! Qu’il s’agisse d’un essai randomisé contrôlé ou d’une analyse quasi-expérimentale, j’espère que les conseils suivants vous seront utiles…
 
Consacrez le temps et l’effort nécessaires pour recruter et former vos recenseurs. Quelqu’un a dit une fois que la formation des recenseurs est pour 95 pourcent dans la réussite d’une étude menée sur le terrain. À mon avis, ce chiffre sous-estime l’importance de cette phase critique ! L’enthousiasme et la ténacité des recenseurs peuvent avoir un effet multiplicateur sur les efforts consentis lors de l’élaboration du plan de recherche, tout comme le manque d’enthousiasme et de ténacité peuvent les anéantir. En règle générale, il faut au moins une semaine pour former les recenseurs et leur faire tester l’instrument.  Il est bon également de rappeler aux recenseurs l’ambition de l’étude : notre travail commun vise à améliorer, même à petite échelle, les résultats scolaires des enfants de par le monde… et on se doit d’en être fier.  Les étudiants universitaires, encore aux études ou fraîchement diplômés, font d’habitude d’excellents recenseurs, car ils ont encore une passion pour le voyage et les nouvelles découvertes, se sentent plus à l’aise avec les appareils technologiques, sont mieux à même de supporter le travail ardu et peuvent marcher les trois heures supplémentaires qu’il faut pour parvenir à l’école qui, tirée au sort, se trouve au fin fond du territoire. 
 

Farewell 2017; Hello to More and Better Infrastructure in 2018

Jordan Z. Schwartz's picture
Volatility in financial markets gets wide attention in the public eye. Less noticed is what we in the development world call macroeconomic volatility—faster-than-desired swings in the broad forces which shape an economy. Think investment, government spending, interest rates, foreign trade and the like.

There are three key questions to analyze: how do these forces interact, what is their effect on overall growth, and what policies are best to follow? All this is of more than academic interest: macroeconomic volatility can bring substantial hardships to millions of people

Scaling up World Bank guarantees to move the needle on infrastructure finance

Pankaj Gupta's picture



It’s not always easy to convince the private sector to participate in public infrastructure projects—especially in developing countries and emerging economies. Why is this a problem? Because there simply is not enough public money to meet the growing demand for infrastructure, which is a key element of development and poverty alleviation. The need is great, numbering in the trillions of dollars.
 
But there is good news—the market has both the trillions and the expertise to use it, if the conditions are right. And the World Bank Group has a number of instruments that can help create an environment that meets the needs of the private sector in financially, environmentally, and socially sustainable ways. Guarantees are one of those instruments, a tool that is highly effective in leveraging limited resources for mobilizing commercial financing for critical infrastructure projects.