Seychelles Launched Blue Bonds – What are Blue Bonds (FAQs)

What is a Blue Bond?

The blue bond is a debt instrument issued by governments, development banks or others

Image

to raise capital from impact investors to finance marine and ocean-based projects that have positive environmental, economic and climate benefits. The blue bond is inspired by the green bond concept, which people are more familiar with.

Why did Seychelles decide to issue a Blue Bond?

Like many small island states, Seychelles’ economy is highly dependent on the ocean and on fisheries for food, nutrition and livelihoods; marine habitats, and other blue economy sectors such as tourism. After tourism, the fisheries sector is the country’s most important industry, contributing significantly to annual GDP and employing 17% of the population. Fish products make up around 95% of the total value of domestic exports.

Continue reading

Going Above And Beyond To End Poverty: New Ways Of Measuring Poverty Shed New Light On The Challenges Ahead

The fight to end extreme poverty is revealing a developing dichotomy. On the one hand, coupleextreme poverty continues to be stubborn in certain parts of the world, while in others it has become minuscule or non-existent. In about half of the world’s countries, less than 3 percent of the population is living on less than $1.90 a day—but that doesn’t mean the fight to eradicate poverty is over in these countries. 

Recognizing this divergence, a new World Bank report—Poverty and Shared Prosperity 2018: Piecing Together the Poverty Puzzle—broadens our understanding of poverty. It introduces new tools and measures that will help countries better identify the poor and implement appropriate policies to build human capital and improve living standards.

Continue reading

What a Waste: An Updated Look into the Future of Solid Waste Management

“Waste not, want not.” This old saying rings so true today, as global leaders and local communities alike increasingly call for a fix for the so-called “throwaway culture.” But beyond individuals and households, waste also represents a broader challenge that affects human health and livelihoods, the environment, and prosperity.

Solid waste management is a universal issue that matters to every single person in the world. And with over 90% of waste openly dumped or burned in low-income countries, it is the poor and most vulnerable who are disproportionately affected.

In recent years, landslides of waste dumps have buried homes and people under piles of waste. And it is the poorest who often live near waste dumps and power their city’s recycling system through waste picking, leaving them susceptible to serious health repercussions.

Continue reading

From Parts to Products: Why Trade Logistics Matter

Published on http://www.worldbank.org.

Washington, 24 July 2018 – Take a close look at your smart phone for a moment. What trade-lpi-2018-warehouse-shutterstockdo you see? A glass screen. A button equipped with fingerprint recognition. A camera lens, flashlight, microphone, and speaker. Each of these components, and others – including chips, processors, batteries – are independently sourced from companies located all over the world and assembled into a finished product at factories, often in China. Any smart phone you purchase, and its components, has likely passed through customs several times, landed on multiple countries and continents, and been touched by countless workers.

Continue reading

World Bank Group Exceeds its Climate Finance Target with Record Year

Fiscal Year 2018 sets record with $20.5 billion in finance for country-level climate action

WASHINGTON, July 19, 2018 – The World Bank Group announced today that in fiscal appyear 2018, 32.1 percent of its financing had climate co-benefits – already exceeding the target set in 2015 that 28 percent of its lending volume would be climate-related by 2020. This amounted to a record-setting $20.5 billion in climate-related finance delivered in the last fiscal year – the result of an institution-wide effort to mainstream climate considerations into all development projects.

The 28 percent target was a key goal of the Bank Group’s Climate Change Action Plan, adopted in April 2016, and was designed to support countries to deliver on their national goals under the Paris Agreement on climate change.

Continue reading

This is the leading ICT-connected country in Central and Western Africa

1_dD1b0L4owjraFCKySAW-LA.pngIt is impossible these days to drive around the cities of Gabon without noticing the large billboards promoting internet access at rates that were unimaginable only a few years ago.

This is a wonderful development for Alphonse, a young, 34-year old public-sector professional. WhatsApp, Facebook, LinkedIn and Instagram are all applications that this ultra-connected young man uses on his telephone for both work and pleasure.

Continue reading

How can we help cities provide the building blocks for future growth?

Basic infrastructure makes all the difference in the lives of people. Sometimes a road is all it takes… Access to clean drinking water and sanitation can improve children’s health,childrens_play_ground_in_a_public_park_-_by_ngoc_tran-shutterstock-resized reduce waterborne disease, and lower the risk of stunting. Street lighting can improve the safety of a community, reduce gender-based violence, and add productive hours for shops and economic activities, which can help people escape poverty.  A paved road can lead to a world of possibilities for small business owners, increasing access to additional markets and suppliers, as well as opportunities to grow their businesses.

The urban infrastructure finance gap
Cities already account for approximately 70-80 percent of the world’s economic growth, and this will only increase as cities continue to grow. In the next 35 years, the population in cities is estimated to expand by an additional 2.5 billion people, almost double the population of China. As a vital component for connectivity, public health, social welfare, and economic development, infrastructure in all its forms – basic, social, and economic – is critical for the anticipated urban growth.

Continue reading

ICYMI: Call to join the Young Professionals Program (YPP)

The application for the 2019 Selection Process for the Young Professionals Program will be open from June 14 to July 31, 2018 (midnight EST).

WebThe Young Professionals Program (YPP) is a starting point for an exciting career at the World Bank Group.

It is a unique opportunity for younger talent who have both a passion for international development and the leadership potential to grow in fascinating top technical and managerial roles in the World Bank Group (WBG). The program is designed for highly qualified and motivated individuals skilled in areas relevant to WBG technical/operations such as economics, finance, education, public health, social sciences, engineering, urban planning, agriculture, natural resources and others.

Continue reading

Building Back Better: How to Cut Natural Disaster Losses by a Third

DgnheipUwAETCjh.jpgWASHINGTON, June 18, 2018When countries rebuild stronger, faster and more inclusively after natural disasters they can reduce the impact on people’s livelihoods and well-being by as much as 31 percent, potentially cutting global average losses from $555 billion to $382 billion per year. That’s the conclusion of a new report from the World Bank and the Global Facility for Disaster Reduction and Recovery (GFDRR), released today.

The report, Building Back Better: Achieving resilience through stronger, faster and more inclusive post-disaster reconstruction, assesses socioeconomic resilience and the impact of disasters on people’s well-being. It covers 149 countries, including 17 small island states, representing 95.5 percent of the world’s population.

Continue reading