Blog by Alfonso Garcia Mora, World Bank Group
I had just arrived to Bali at a late hour in the evening to join the 2018 World Bank-IMF annual meetings when our group, visitors from more than 189 countries along with Indonesians on the island and neighboring communities were acutely woken up at dawn with magnitude 6.4 quake that struck off the coast. Early reports by the National Disaster Mitigation Agency indicated extensive damage to infrastructure and loss of lives in the span of a few minutes. The Indonesian response that followed revealed the difference disaster risk finance can bring to families, economies and societies at large. I was humbled by what I experienced and what we can contribute -as an institution together with our partners- to manage these acute disasters more prudently, effectively and humanely.
Are you a young professional thinking about a career at the World Bank? Applications to the Young Professionals Program are now open until June 30. Apply today! Be sure to watch the Live Q&A on June 10, to hear from current Young Professionals, about their experiences & tips for applying.
The World Bank Group (WBG) welcomes all qualified individuals with diverse professional, academic, and cultural backgrounds. Specifically, women and persons with disabilities are strongly encouraged to apply.
Check out the Facebook Live: Q&A with World Bank Young Professionals Program for useful tips and information. Watch this space for an upcoming Facebook Live on June 10th.
The June 2019 edition of the NL4WorldBank newsletter is out!
The newsletter ‘Development Works‘ opens with the success story of Dutch company Elsevier.
Over the last 12 years Elsevier has been working together with the World Bank (and other multilateral organizations) to support activities in emerging economies to enhance higher education and research, develop better science and technology, and improve local competitiveness.
In the article Elsevier highlights their most important successes with the World Bank of the last few years and their motivation to stay ahead of the expected challenges of Industry 4.0, as well as their commitment to the Sustainable Development Goals.
Further more an introduction of the new President of the World Bank David Malpass was published.
And if you have missed the IMF/World Bank Group Spring Meetings or are interested in what was said during the key events in that week, you can find the most important events of the Meetings on World Bank Live.
To support the sustainable extraction and processing of minerals and metals that are used in clean energy technologies, such as wind, solar, and batteries for energy storage the World Bank created a facility on climate-smart mining. It will focus on helping resource-rich developing countries benefit from the increasing demand for minerals and metals, while keeping the environment and climate footprint as minimal as possible.
Those subscribed to the newsletter automatically received it in their inbox, if not, you can find the latest edition here. All editions of the NL4WorldBank newsletter are published on our website. If you would like to automatically receive the next newsletter when it is published, please subscribe here.
After participating in two events on inequality at the Spring Meetings – Making Growth Work for the Poor and Income Inequality Matters: How to Ensure Economic Growth Benefits the Many and Not the Few, I received a surprising number of emails asking whether my remarks on the importance of addressing rising inequality meant I had abandoned growth as the main priority for developing countries. One thing I certainly took away from this correspondence: Inequality is too complex a phenomenon to address in a brief session at the Spring Meetings.
The global energy landscape is undergoing a major transformation. This year’s Innovate4Climate (I4C) will have a priority focus on battery storage, helping to identify ways to overcome the technology, policy and financing barriers to deploy batteries widely and close the global energy storage gap.
Spring Meeting Presentation
Digital innovation is creating unprecedented opportunities for Africa to grow its economy, create jobs, and transform people’s lives. With the aim to digitally connect every individual, business and government in Africa by 2030, the African Union, with the support of the World Bank Group, has embarked on an ambitious journey—a “moonshot” that will help countries accelerate progress, bring high-speed connectivity to all, and lay the foundations for a vibrant digital economy. This April, African leaders and influencers will come together to discuss practical ways of bringing the moonshot vision to life and building an inclusive digital future all across the continent. Watch live, share your ideas, and be part of the conversation!
WASHINGTON DC, APRIL 11th, 2019.- Senior representatives of the Kingdom of the Netherlands and the World Bank today signed an agreement for USD 7,000,000 to support developing countries’ efforts in mobilizing much-needed public domestic resources to achieve the Sustainable Development Goals, particularly in Africa and the Middle East.
The four-year agreement aims at boosting domestic resource mobilization while strengthening tax policy and administrative capacity in selected countries in North, Western, and Central Africa, as well as in the Middle-East. Some countries that may benefit from this agreement include: Benin, Burkina Faso, Chad, Côte D’Ivoire, Ghana, Liberia, Niger, Nigeria, Senegal, Ethiopia, Kenya, Iraq, Jordan, and Lebanon.
The Team International Organizations (TIO) of RVO in the Hague helps Dutch companies that are interested in projects financed by multilateral development banks and international organizations. TIO is focused solely on organizations in which the Netherlands is shareholder or member: ADB, AfDB, AIIB, EBRD, EU, EIB, IADB, UN, and World Bank Group.
TIO functions as the first point of contact for Dutch companies and advises on how the Banks work and how to be effective at doing business with these organizations. Companies can contact us with questions about procedures and priorities, and accompaniment in partner tracks. We also organize seminars and trade missions on current opportunities.
What is a Blue Bond?
The blue bond is a debt instrument issued by governments, development banks or others
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.