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? * Mapping the Local and Global Economic Geography
* Partnership to Finance “Green” Projects
* Zoellick at G-20 Finance Minister Discussions in Sao Paulo
* Bank Unveils New Resource for Supporting Women in Agriculture
* Books – The Growth Report
* International Day for Tolerance 2008
* Natural Resources and Development Conference Announced
* Opportunities in the Water Sector in Africa
* Blog – Ban on Short Selling of Stocks
* How the Bank is Helping Fight the Global Financial Crisis
* Private Activity in Infrastructure Reached a New Peak in 2007 NEWS Mapping the Local and Global Economic Geography
The just-released “World Development Report 2009: Reshaping Economic Geography” argues that the most effective policies for promoting long-term growth are those that facilitate geographic concentration and economic integration, both within and across countries. The WDR report challenges the assumption that economic activities must be spread geographically to benefit the world’s most poor and vulnerable. Trying to spread out economic activity can hinder growth and does little to fight poverty. For rapid, shared growth, governments must promote economic integration which is about the mobility of people, products, and ideas. The report says integration should be the pivotal concept in the policy discussions involving the location of production, people and poverty—in particular, the debates on urbanization, regional development, and globalization. Read more…
See multimedia gallery of WDR Launch
Partnership to Finance “Green” Projects
The Bank announced a partnership with SEB Bank and several key Scandinavian institutional investors to introduce a “World Bank green bond” to raise funds for projects seeking to mitigate climate change or help affected people adapt to it. The bond issue is one example of the kind of innovation the Bank is trying to encourage within its “Strategic Framework for Development and Climate Change,” launched earlier this year to help stimulate and coordinate public- and private-sector activity in this area. The offering is the first time both the Bank and SEB have offered bonds to raise funds identified to a specific Bank program. Read more…
Zoellick at G-20 Finance Minister Discussions in Sao Paulo
Bank President Robert B. Zoellick participated in the November 8 – 9 meeting of G-20 Finance Ministers and heads of Central Banks in Sao Paulo, Brazil, to discuss the ongoing global financial crisis. The Bank is working with countries, other international institutions, and global partners to deploy the full range of its resources, from finance to analysis to advice in helping developing countries strengthen their economies, bolster financial systems, maintain growth and protect the most vulnerable. The Bank estimates that approximately 100 million people worldwide have already been pushed into poverty due to the global food and fuel crisis, with an additional 44 million suffering malnutrition. Read more…
See transcript of Zoellick press briefing Bank Unveils New Resource for Supporting Women in Agriculture
The Bank launched the Gender in Agriculture Sourcebook, the product of a three-year collaborative effort with the UN Food and Agricultural Organization, and the International Fund for Agricultural Development. Through case studies and best practices, the Sourcebook addresses the development reality that persistent underinvestment in women and agriculture together with gender disparities in knowledge, technology, access to credit, and land result in less food being grown, less income being earned, higher levels of poverty, and greater food insecurity. In addition to knowledge for practitioners, the Sourcebook makes recommendations to increase analytical work on gender in agricultural programs, to strengthen female representation in public and private institutions, and to invest more in developing the capacity of women farmers through education and skills formation. Read more…
PUBLICATIONS The Growth Report
This publication is the result of two years of work by 19 experienced policymakers and two Nobel prize-winning economists. Subtitled “Strategies for Sustained Growth and Inclusive Development” the Growth Report is the most complete analysis to date of the ingredients which, if used in the right country-specific recipe, can deliver growth and help lift populations out of poverty. Read more…
FOR A FULL LIST of available publications:
http://publications.worldbank.org/ecommerce/ EVENTS AND DISCUSSIONS International Day for Tolerance
November 16 – Global – At the initiative of UNESCO, 1995 was declared the United Nations Year for Tolerance, and it saw the launching of a world-wide campaign for tolerance and non-violence. The International Day for Tolerance grew out of the momentum of that Year. Building tolerance and trust in diverse communities is not done overnight, but takes time and commitment. An International Day for Tolerance can serve as an annual occasion for tolerance education as well as for wider social and political reflection and debate on local and global problems of intolerance. It is a moment to take stock of the progress made during the year and to propose fresh policies to close remaining gaps. Read more…
Natural Resources and Development Conference Announced
The Global Development Network's 10th Annual Conference on 'Natural Resources and Development' will be hosted by the Arab Fund for Economic and Social Development at their headquarters in Kuwait from February 3-5, 2009. The Conference will feature discussions and presentations on topics related to the theme with an aim to further the debate on this crucial relationship. Plenary and parallel sessions will be led by eminent academics, policy makers, researchers and members of multilateral development organizations from around the world. In addition to an opening session featuring a keynote speaker and a closing policy roundtable, entitled there will be four other plenary sessions: 'Natural Resources: Curse or Blessing?'; 'The Political Economy of Natural Resources'; 'The Challenge of Sustainable Development'; and 'The Wealth of Nations: Revenue and Fiscal Management of Natural Resources.' Read more…
REGIONAL NEWS AND PROJECTS Summary of proposed projects in all regions:
November 6 List of Newly Disclosed Documents
AFRICA Brazzaville Hosts First Sustainable Development Forum in Africa
Several heads of state, environment ministers, and environmental experts gathered in Brazzaville, Congo to discuss the issue of sustainable development, assess the level of progress achieved so far, and address remaining challenges. The meeting, the sixth Global Forum on Sustainable Development brought together key stakeholders from various countries, as part of ongoing discussions around forming an alternative global framework on environmental policy to replace the controversial Kyoto Protocol. It was also the occasion for African states to revive the environmental action plan of the New Partnership for African Development with a shared view that encompasses the concerns of their various geographical constituencies, which range from African islands to Sahelian countries facing the expansion of the desert. Read more…
Helping Female Ex-combatants Regain their Livelihoods in DRC
Women are among the most vulnerable groups in post-conflict situations. This is true in the Democratic Republic of Congo (DRC), where female ex-combatants often find themselves heading households alone, raising children and having to provide food and shelter for their families. A new pilot project, financed by the Multi-country Demobilization and Reintegration program (MDRP), an initiative funded by the World Bank and 13 donors, specifically targets female ex-combatants and is assisting them in regaining a place in society. Read more…
African Media Leaders Forum Convenes in Dakar
Over 32 CEOs of African media organizations met in Dakar, Senegal, and called for a stronger push for media development in Africa. They agreed to collaborate so that media can play a more proactive role in Africa’s development. The event “African Media Leaders Forum: Shaping the Future of Africa’s Media,” was cosponsored by AllAfrica Global Media, a content service provider, and the Bank. “Media constitute an essential part of the dialogue on development in Africa,” said Eric Chinje, the Bank’s Manager for Africa Region External Affairs.“ The Forum was an important opportunity to engage media leaders and help place media at the heart of the development process in Africa.” Read more…
Bank Director Urges Partnership in Sierra Leone’s Development
The Bank’s Director of Strategy and Operations for Africa Colin Bruce paid an official visit to Sierra Leone to meet with government officials over development programs in the country. Bruce met with President Ernest Bai Koroma, other top ranking government officials and heads of donor agencies. Prior to Bank support early this year towards the provision of emergency thermal electricity in Freetown ahead of the completion of the Bumbuna Hydroelectric project, only two percent of households were able to access electricity in Sierra Leone. Across the country, there were only 40,000 electricity customers out of a population of six million, implying one of the lowest connectivity rates in the world. Read more…
Botswana Stakeholders Meet over Doing Business Successes
Doing Business 2009, a World Bank-International Finance Corporation report that measures the ease of doing business globally, reports that between June 2007 and 2008 Botswana reformed in three of the 10 areas studied. The country ranked seventh among the world’s top 10 regulatory reformers, and rose from 52 to 38 in overall reforms. Botswana made trade and the process of business start-ups easier through computerization and the Companies Act 2003, which strengthened investor protection. Read more…
Malawi’s Hope for Poverty Reduction
A team of development partners and the government are collaborating in carrying out analytical work to establish a basis for policy options that will help Malawi build on recent gains in growth and economic management. These policy recommendations for economic growth will be delivered early in 2009 in what is called a Country Economic Memorandum. Since 2006 Malawi has had remarkable growth rates averaging 7.5 per cent, compared to an average of about three percent during the early years of the decade. The projection for 2008 is for 8.7 percent growth. Growth increases wealth and income, which in turn help alleviate poverty. Read more…
Approved
MADAGASCAR - Irrigation and Watershed Management Project - US$5.44 million to establish a viable basis for irrigated agriculture and natural resources management in four main irrigation sites and their surrounding watersheds. The project consists of the following components: laying the foundations for improved market access and sustainable intensification and diversification of irrigated and rainfed agricultural systems in the project's watersheds; for improved management, maintenance and sustainability of irrigation services provision in four large-scale irrigation schemes through rehabilitation of irrigation infrastructure, capacity strengthening of stakeholders and clarification of roles and responsibilities, and establishment of an appropriate incentive framework; for sustainable management of watersheds including irrigated and rainfed agriculture, the conservation of the natural heritage, and improved productivity of the natural resources. And managing and using resources in accordance with the project's objectives and procedures, and to put in place a policy framework that is favorable to upscaling of the project at the national level. Read more…
MOZAMBIQUE - Fifth Poverty Reduction Support Credit - US$90 million to assist the government of Mozambique to implement key policy actions outlined in its 2005-2009 second action plan for the reduction of absolute poverty and in the performance assessment framework agreed by the government and the 19 external partners that provide General Budget Support. Within this context, PRSC-5 is expected to help in the consolidation and deepening of the institutional reforms in the area of macroeconomic management; reforms in governance by supporting decentralization to enhance public investments and service delivery at the provincial and district level, and by supporting public sector reform; and economic development by removing constraints to growth, such as infrastructure, and promoting agricultural growth. The PRSC-5 also supports the implementation of the government policy response to the higher global food and fuel prices. Read more…
Press release
For more regional information: http://www.worldbank.org/afr EAST ASIA AND THE PACIFIC For more regional information: http://www.worldbank.org/eap EUROPE AND CENTRAL ASIA Croatia Coping Well so Far with Global Financial Crisis
The 10 new member states of the European Union (EU10) are affected by the ongoing global financial crisis, and growth will be slower this year and next due to weak external demand and tight credit conditions, says the latest World Bank EU10 Regular Economic Report. The Report, published three times a year to cover economic developments in the new member states of the EU, including a special supplement on Croatia, follows the news of an agreement reached between Hungary and the International Monetary Fund (IMF) on a policy package for Hungary to address economic and financial vulnerabilities in the wake of the global economic crisis, with the Bank ready to provide one billion Euros as part of a program supported by the IMF and European Union. According to the Report, the international financial crisis intensified since early October and resulted in an acute tightening of interbank markets, bank consolidation and takeovers in developed economies, and a sharp drop in global equity prices. Read more…
Approved
BULGARIA - Second Social Sectors Institutional Reform Development Policy Loan - US$150 million to support the government of Bulgaria to meet some of the challenges associated with European Union. The DPL series is supporting the adoption and implementation of policies to increase employment and lay the foundations for long-term productivity growth by providing incentives for job creation and improving quality of education; and promote fiscal sustainability through efficiency gains in social sectors. Read more…
BULGARIA - Social Inclusion Project Loan - US$59 million to promote social inclusion through increasing the school readiness of children below the age of seven targeting low-income and marginalized families (including children with a disability and other special needs). There are two components to the project. The first component is the integrated social and childcare services. The second component is capacity-building; supporting the design and pilot launch of a national school readiness program, and financing necessary capacity-building activities at the central and municipal level. European Social Fund funding will be available finance the large part of local capacity-building activities, but SIP financing will be made available through this component to ensure quick start-up. Read more…
Press release on both projects
For more regional information: http://www.worldbank.org/eca LATIN AMERICA AND THE CARIBBEAN Approved
MEXICO - Private Housing Finance Markets Strengthening Project - US$1.01 Billion Dollars to strengthen the financial capacity of Mexico’s Federal Mortgage Corporation (SHF) to develop and consolidate markets for housing finance and to expand access to lower income groups over the medium-term; and improve SHF's technical capacity to expand access to lower income groups over the medium-term. Read more…
Press release
MEXICO - Consolidation of the Protected Areas System Project (SINAP II) - US$5.44 million to assist the Mexican government; Mexico’s Development Banking Institution, Nacional Financiera, and the Mexican Nature Conservation Fund, in their efforts to promote conservation and the sustainable use of biodiversity through the consolidation of the Protected Areas System Project. These resources represent long term financing for three additional biosphere reserves: La Sepultura and El Ocote in Chiapas; and Mapimi in the states of Chihuahua, Coahuila and Durango. Each one encloses unique biodiversity that faces threat to its conservation and its sustainable use. Read more…
Press release For more regional information: http://www.worldbank.org/lac MIDDLE EAST AND NORTH AFRICA Urban Challenges in the MENA Region
The urban setting is under extreme pressure in MENA today, as a result of a very rapid urbanization rate over the past 10 years. Anna Bjerde, Sector Manager for Urban and Social Development, in the Bank's Middle East and North Africa Region says a major challenge for MENA is the very high percentage of informal housing, reaching 20-40% in some parts of the region. The world is becoming more urban, and decisions are increasingly being decentralized to cities and municipalities. She adds that the region has two megacities where the population exceeds 10 million: Cairo and Tehran. Indeed, Cairo, Tehran and Baghdad, combined, account for 25% of the urban population of the region. Read more… For more regional information: http://www.worldbank.org/mena SOUTH ASIA Bank Provides Support to Cyclone Affected Areas in Bangladesh
The Bank approved a US$109 million IDA credit to Bangladesh, which will support the government’s efforts to repair infrastructure and restore the livelihoods for thousands of families affected by last year’s Cyclone Sidr. The cyclone caused extensive damage to, property, livestock, and crops, with total damage and losses estimated at US$1.7 billion. Overall 30 districts and about 9 million people were affected, leaving some 3,000 dead and more than 55,000 people injured. The Emergency 2007 Cyclone Recovery and Restoration Project will finance reconstruction and improvement of some 300 multi-purpose shelters and rehabilitation of 100 km of coastal embankments, using cyclone-resistant building techniques. It will also support activities in the agriculture sector that will help farmers prepare for the next growing season and strengthen their ability to cope with future disasters. Read more… For more regional information: http://www.worldbank.org/sar BUSINESS AND CAREER OPPORTUNITIES Opportunities in the Water Sector in Africa
The Infrastructure Consortium for Africa (ICA) will hold a meeting with a specific focus on enhancing private sector participation in the water sector in Africa. Organized by the ICA and hosted by the government of Senegal, the purpose of the meeting will be to facilitate investment in the water sector through dialogue. Business discussion on projects from across the continent will present opportunities for private sector engagement now and in the medium term. The meeting will review recent developments in the water sector in Africa, and provide a forum for debate on issues such as finance instruments, service delivery and storage. Read more…
http://www.icafrica.org/en/news/article/view/placeholder-ws-1/ For a full list of open positions and scholarships
http://www.worldbank.org/jobs ON THE BLOGS Ban on Short Selling of Stocks
Eric Feyen notes on the Crisis Talk blog that over 7,100 stocks worldwide are banned for short selling. Short sellers try to make a living by exploiting overvalued stocks. They do so by borrowing shares and selling them at their overvalued price. When the price drops, they buy back shares and return them to the original lender for the lower price, pocketing the difference. Obviously, this strategy works nicely when markets go down (and backfires in case they go up). The practice of short selling can even accelerate the fall in prices, which is how short sellers got a reputation of “looters after a hurricane”, as President Hoover put it after the 1929 stock market crash. The short-sell bans in the US and Canada have ended, but many countries still have bans for as many as 7,157 stocks today.” Eric asks; will they help more than they hurt? Join the conversation… TAKE A LOOK How the Bank is Helping Fight the Global Financial Crisis
Developing countries face a new challenge from the global financial crisis. The Bank is helping with the financial rescue but believes that it must remain focused on the human rescue for the many millions left behind. The recent food and fuel crises have already pushed millions back into poverty and hunger. The financial crisis now threatens to shrink emerging markets' access to trade and investment, and each 1 percent drop in growth could trap another 20 million in poverty. Governments must keep their commitments to increase aid to the most vulnerable people. The Bank is actively working to safeguard recent progress. Read more… DID YOU KNOW? Private Activity in Infrastructure Reached a New Peak in 2007
Investment commitments to infrastructure projects with private participation in low- and middle-income countries grew by 25 percent to US$158 billion in 2007, reaching a new peak that is almost 10 percent higher than the 1997 peak. The Private Participation in Infrastructure Database, which recently released the data, will continue monitoring changes to projects and investment trends in light of the current financial climate. Read more…
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