News | Publications | Events & Discussions | Regional News and Projects I Newly Disclosed Documents I Business & Career Opportunities | On the Blogs I Take a Look | Did You Know? * Database Aims to Reduce Cost of Remittances
* Member Countries Selected to Govern Climate Investment Funds
* Youth Issues Discussed at Bank/Fund Annual Meetings
* Demand Prompts Spike in Carbon Partnership Facility Membership
* New Strategy for Japan’s Development Assistance
* Climate Resilient Cities
* International Disarmament Week 2008
* Launch of Doing Business 2009 in Second Life
* Opening – Winter Internship Program Application Period Now Open
* Blog – Will the Financial Crisis Reduce Foreign Aid?
* Indonesia Multi Donor Fund Photo Competition
* Economic Effects of Restricted Access to Land in the West Bank NEWS Database Aims to Reduce Cost of Remittances
Remittances from migrant workers are important sources of family income and a key factor for growth in developing economies, representing a large portion of the GDP of many receiving countries. Given the current economic crisis, the smooth flow of remittances could become even more critical. As a step toward helping reduce the cost of remittances, the International Finance Corporation (IFC) and the Bank have launched the first global database of remittance prices that is expected to benefit low-income migrant workers and households in developing countries. The database, which provides information on 120 remittance corridors, will make pricing more transparent and put competitive pressure on providers to improve services and reduce prices. Read more…
Member Countries Selected to Govern Climate Investment Funds
Representatives from donor and developing countries meeting in Washington finalized their choice of countries to serve initially on the committees that will oversee decisions about investments and implementation of the newly created multi-billion dollar Climate Investment Funds (CIF). The CIF design provides that donor and potential recipient countries should hold an equal number of seats, to be selected through a process of consultation among the countries themselves. The Clean Technology Fund will invest in projects and programs in developing countries that contribute to the demonstration, deployment, and transfer of low-carbon technologies. The projects or programs must have a significant potential for long-term greenhouse gas savings. Read more…
Demand Prompts Spike in Carbon Partnership Facility Membership
With more than 40 developing countries asking to become part of the Forest Carbon Partnership Facility, the FCPF has announced that it aims to expand its expected number of developing country participants from 20 countries to 30. Tropical forested countries are seeking to build capacity to reduce greenhouse gas emissions by reducing deforestation and forest degradation. Twenty-five developing countries selected so far to benefit from the FCPF are working with 11 industrialized countries and one non-governmental organization in an innovative partnership and international financing mechanism to combat tropical deforestation and climate change. The FCPF is comprised of two components—a Readiness Fund and a Carbon Fund. Read more…
Youth Issues Discussed at Bank/Fund Annual Meetings
The 2008 World Bank and IMF Annual Meetings included an unprecedented special three-day session devoted to youth, with 18 young leaders from around the world gathered in Washington to discuss their projects, goals, and development concerns. While many of the sessions were long and intense, participants stayed enthusiastic and engaged throughout. Over the three days, participants shared their views on topics including how young people can exercise citizenship and make their voices heard in society, the school-to-work transition, the Bank's engagement with youth, and an action plan on how youth can be vital partners in development. Read more…
Japan’s New Development Assistance Strategy
Sadako Ogata, President of Japan’s new International Cooperation Agency (JICA), and one of her country’s longest-serving and most revered public figures, is giving her newly-merged aid agency a simple strategy, with three principles: scaling up, speeding up, and spreading out. A former UN High Commissioner for Refugees and one of the world’s preeminent authorities on humanitarian assistance and development, Ogata told Bank staff that new JICA’s driving vision is “inclusive and dynamic development,” and that her three s’s are the operational directives for getting there. Read more…
PUBLICATIONS Climate Resilient Cities
This publication is the first tool of its kind for city governments to better understand how to plan for climate change impacts and impending natural disasters through sound urban planning. The book, which is subtitled “A Primer on Reducing Vulnerabilities to Disasters” equips local governments with information to engage in training, capacity building, and capital investment programs that are identified as priorities for building sustainable, resilient communities. It caters to a variety of city "types" and is equally relevant to cities that are just beginning to think about climate change as well as those that already have well established policies, institutions, and strategies in place. By providing a range of city-level examples of sound practices around the world, it demonstrates that there are many practical actions that cities can take to build resilience. Read more…
FOR A FULL LIST of available publications:
http://publications.worldbank.org/ecommerce/ EVENTS AND DISCUSSIONS International Disarmament Week 2008
October 24 – 30 – Global – The annual observance of Disarmament Week, which begins on the anniversary of the founding of the United Nations, was called for at the General Assembly 1978 special session on disarmament. Armed conflicts, rising weapons-related expenditures, proliferation of weapons of mass destruction and conventional arms, and other threats continue to challenge the foundations of international peace and security. Disarmament, non-proliferation and peace education efforts are becoming important means to better understand and address these concerns. They are important for strengthening involvement by civil society and are a source of inspiration for constructive national and international action. Read more…
REGIONAL NEWS AND PROJECTS Summary of proposed projects in all regions:
October 23 List of Newly Disclosed Documents AFRICA Approved
MADAGASCAR - Additional Financing for Rural Development Support Project - US$30 million to increase incomes and reduce poverty in rural areas, while preserving the country’s natural resource base. It will support the costs associated with scaling up the activities of the ongoing project to about 2,200 new sub-projects benefiting about 70,000 additional households, thus contributing to a significant enhancement of its impact and development effectiveness. Read more…
TANZANIA - Sixth Poverty Reduction Support Credit - US$160 million to support the implementation of Tanzania’s National Strategy for Growth and Reduction of Poverty (known as MKUKUTA). Its strategic focus is on two key sets of objectives: sustaining high and shared economic growth, and expanding the effective delivery of basic services through the government budget. Read more…
Press release For more regional information: http://www.worldbank.org/afr EAST ASIA AND THE PACIFIC China Development Marketplace Deemed a Success
The China Development Marketplace, a Bank initiative to fund innovative projects of civil society organizations in China, closed with 50 winners receiving over US$1.1 million. Each of the winners received RMB150, 000 to 200,000 yuan to implement their projects. Entitled “Supporting Grassroots Innovations for a Harmonious Society,” the 2nd China Development Marketplace reflects the Bank and government’s efforts to identify and support innovations by CSOs and mobilize social resources to reduce poverty and address various development challenges towards building a harmonious society. Read more…
Promoting Good Corporate Governance in Vietnam
The International Finance Corporation (IFC) launched a program that will improve corporate governance practices in Vietnam’s emerging corporate sector. Through this initiative, IFC, in partnership with the government and local companies, will strive to create a culture of good governance that will strengthen investor confidence and build a stronger, more competitive private sector. The program will collaborate with key government agencies, including the State Securities Commission, the State Bank of Vietnam, and the Central Institute for Economic Management, to review and improve existing policies, laws, and regulations. It will also work with companies to implement good governance standards and assist banks and institutional investors, including the State Capital Investment Corporation, with assessing their clients’ corporate governance practices to reduce portfolio risk. Read more…
For more regional information: http://www.worldbank.org/eap EUROPE AND CENTRAL ASIA Donors Pledge US$4.5billion to Georgia
At a joint European Commission / World Bank Conference in Brussels, 38 countries and 15 international organizations pledged to provide approximately US$4.5 billion to Georgia. Without counting funding going to the financial sector, pledges amounted to some US$3.7 billion, to meet the urgent post-conflict and priority investment needs of Georgia over the coming three years. The amount pledged is based on a Joint Needs Assessment (JNA) coordinated by the World Bank with the participation of the European Commission, the United Nations, the Asian Development Bank, the International Finance Corporation, the European Investment Bank, and the European Bank for Reconstruction and Development. Read more…
Romania Knowledge Economy Project Wins Award
The Knowledge Economy Project has been selected by the European Commission as one of the five medal winners of the e-Inclusion Awards 2008 in the Geographic Inclusion category that recognizes contributions for overcoming the disadvantages of living in remote areas and bringing together communities of interest over a very large region. The award for Geographic Inclusion category is related to the first project component "Access to ICT in Disadvantaged Communities and Improved Digital Literacy". Under this component, 255 communities all over Romania and 1.8 million people who live in these communities are now given the opportunity to take part in the new knowledge-based economy through the successful implementation of the Local Electronic Networks. Read more…
Report urges Support for Pension Reform in Southeast Europe
A Bank report urged countries in Southeast Europe to undertake strategic pension reforms to safeguard the old-age security of their retiring citizens. ‘Pension Reform in Southeastern Europe: Linking to Labor and Financial Market Reforms,’ examines how governments will need to manage their pensions systems over longer periods than previously and also adopt key reforms in both labor and financial markets in order to strengthen the sustained viability of their pension programs. The study identifies some of the challenging reforms necessary to ensure the sustainability of pension programs, and the way that they can be approached successfully. Read more…
Hydropower Investments for Developing a Stable Regional Energy Market
In 2005, seven countries of South East Europe instituted the Energy Community of South East Europe (ECSEE) in an effort to regionally integrate the energy market and so to address the inefficiencies of isolated national markets. The goal of the ECSEE is to stabilize the balance between energy supply and demand in South East Europe, through economically efficient electricity generation and distribution mechanisms that contribute to sustaining economic development. The ECSEE now includes nine countries and the European Union. With the signing of the Energy Community Treaty, the countries of the ECSEE committed to market-oriented reforms in order to improve overall energy conservation and efficiency and to adapt to European Union practices and standards. A regional energy market offers significant advantages in terms of improving utilization of existing supply and production capacities, as well as optimizing future investments. Read more…
For more regional information: http://www.worldbank.org/eca LATIN AMERICA AND THE CARIBBEAN Zoellick Pledges Support for Haiti’s Recovery
Bank President Robert B. Zoellick emphasized his strong support for Haiti’s efforts to overcome poverty and recover from recent natural disasters as he completed a two-day visit to the country. On October 9, Zoellick announced US$25 million in additional emergency grants for Haiti to rebuild major bridges and complete other rehabilitation work on key infrastructure, as well as expand existing programs to help reduce the country’s vulnerability to natural disasters and strengthen its capacity to respond to them. The Bank, mostly through the International Development Agency (IDA), has approved US$240 million in assistance for Haiti since 2005, including a recent US$10 million emergency grant to help the government respond to the food price crisis. This total does not include the US$25 million additional funds announced this month and about US$14 million of trust fund resources invested in Haiti. Read more…
See photo gallery of the trip
Approved
COLOMBIA - Bogota Urban Services Project Additional Financing - US$30 million to increase activities related to urban mobility and strengthening institutions. Read more…
Press release GUATEMALA - First Programmatic Fiscal and Institutional Development Policy Loan - US$200 million to support the efforts of the Guatemalan government to improve fiscal and institutional policies and assuring that the country benefits from its growth. Read more…
Press release
For more regional information: http://www.worldbank.org/lac MIDDLE EAST AND NORTH AFRICA Workshop on Corporate Governance for Microfinance Institutions
The International Finance Corporation (IFC) held a one-day workshop to provide comprehensive corporate governance training to microfinance institutions in the Maghreb region. The workshop, held in Rabat, was designed to help microfinance institutions improve corporate governance practices to strengthen their operational and financial performance and enable them to increase access to microfinance in the region. Through the training IFC will work with the microfinance institutions' senior management and board members to emphasize the importance of corporate governance, highlight international best practice, and focus on corporate governance solutions for issues faced by microfinance institutions in the Mahgreb region. Read more…
Climate Change in the Middle East and North Africa
The Bank is committed to assist developing countries in their efforts to address the climate challenge through a variety of analytical tools and of financial services including the Proposed Climate Investment Fund. The Middle East and North Africa (MENA) is one of the regions that is most vulnerable to climate change, on account of the highest level of water scarcity in the world, a significant dependence on climate-sensitive agriculture, the concentration of populations and economic activity in flood-prone urban coastal zones, and the presence of conflict-ridden areas in which climate induced resource scarcity could escalate violence and political turmoil even beyond the region's boundaries. Read more…
For more regional information: http://www.worldbank.org/mena SOUTH ASIA An Integrated Approach to Child Development in India
India has made substantial progress towards child development indicators such as child survival and basic education. India, however, is unlikely to achieve the Millennium Development Goals of reducing child and maternal mortality, universal primary school completion, nutrition, and sanitation goals if the current trends are not changed. Are the children in India really getting the childhood they deserve? A Bank pilot project explored ways to integrate child development that addresses the health, nutritional and early educational needs of children from prenatal to 11 years towards ensuring “a happy, healthy and learning childhood” for every child in the community. A film titled “Bachpan,” captures the experience of this pilot project. Read more…
For more regional information: http://www.worldbank.org/sar BUSINESS AND CAREER OPPORTUNITIES Launch of Doing Business 2009 in Virtual World of Second Life
The Bank and the International Finance Corporation (IFC) will venture inside the online virtual world of Second Life to launch the Doing Business 2009 report to millions of people in the digital community. The two-hour event will be held on “This Second Island” at 11:00 am EST (8:00 am PST/ Second Life Time) on Thursday, October 30. Second Life is an online, virtual world created by its users, also known as residents. Besides residents from North America and Europe, more than one in five residents logs on to the virtual site from Africa, Asia, or Latin America. The Bank and IFC hope to use Second Life to reach business owners, investors, aid donors, and other people interested in the findings of the Doing Business report. The event will be an open forum where policymakers and the public from around the world can ask questions, challenge the findings, and contribute to a global business dialogue. Read more…
Opening – Winter Internship Program Application Period Now Open
The application period for the Winter Internship Program 2008 opened on September 1. The Program is open to students who are nationals of the Bank's member countries and attracts a large number of highly qualified candidates. The goal of this Internship Program is to offer successful candidates an opportunity to improve their skills as well as the experience of working in an international environment. Interns generally find the experience to be rewarding and interesting. To be eligible for the Internship Program, candidates must possess an undergraduate degree and already be enrolled in a full-time graduate study program. Read more…
For a full list of open positions and scholarships
http://www.worldbank.org/jobs ON THE BLOGS Will the Financial Crisis Reduce Foreign Aid?
Shanta notes on the AfriCan blog that this question comes up frequently in discussions with policymakers, civil society and journalists. “Two things need to happen for the crisis to lead to a significant reduction in foreign aid. First, the financial crisis has to lead to a major recession in donor countries. Second, the recession leads to such fiscal constraints that foreign aid is cut. Since the first is the subject of intense discussion among macroeconomists around the world (not all of whom agree) that a recession is inevitable, I looked into the second. How has foreign aid varied during previous recessions? According to my colleague Rocio Castro, “after a period of stagnation throughout the 60s, Official Development Assistance (ODA) has been on an upward trend since the mid 70s--except for the period of 1992-97 when it declined in real terms.” Join the conversation…
TAKE A LOOK Indonesia Multi Donor Fund Photo Competition
The Multi Donor Fund is again holding a photo competition as an effort to involve partner and implementing agencies staff and consultants, staff of all donor agencies, and beneficiaries in capturing implementation of MDF projects. Participants will compete for prizes and a chance to have photos featured in the 2008 Annual Report and other collateral materials. The theme of the competition is: Capacity Building in the Reconstruction and Rehabilitation Efforts. Staff of the Bank and staff of donor agencies and partners, and amateur to expert photographers are strongly encouraged to submit photos. Read more…
DID YOU KNOW? Economic Effects of Restricted Access to Land in the West Bank
In the West Bank, land takes on particular significance, as economic activity has been stifled by the ongoing conflict; and as much of the land area is inaccessible due to Israeli restrictions on movement of people and access to natural resources. This policy note aims at analyzing the channels through which land access restrictions and market distortions constrain productive and public sector investment, and trace their effects on the development of key economic sectors. Read more…
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