Harnessing creativity for change: The art of resilience

Scientists are constantly getting better at knowing when the next hurricane, landslide, or aofr-facebook_0.pngflood will happen. However, science communication about these disasters lags behind. As Leonardo da Vinci described, art has a unique power to communicate this type of knowledge to people everywhere.  

Natural events and disasters of the past have influenced some of the most iconic art of our time. From Turner’s sunsets to Mary Shelley’s Frankenstein – both were composed in the shadow of the greatest volcanic eruption of our age, Mount Tambora in 1815. The Great Wave off Kanagawa by Japanese artist Hokusai (c. 1829–33) has been interpreted as a warning about tsunami risk. In an era of increasing natural hazards and climate change, art can also communicate the future risks we face.

Continue reading

Preventing and controlling corruption: A modern approach to procurement

Supporting good governance and addressing corruption are integral to the Bank’s modern_procurement_blogdevelopment work. Introduced in July 2016, the World Bank’s Procurement Framework plays an important role in this effort by emphasizing value for money (vfm) and fair competition and the highest level of integrity to encourage the participation of the best-performing suppliers. VfM means the optimal combination of quality, whole-life costs and sustainability. This approach also enables selection of innovative technologies to address complex development challenges.

Continue reading

Rebuilding communities after disasters – four and a half lessons learned

The death toll from Cyclone Idai that ripped into Mozambique, Zimbabwe, and Malawi in IDAI Aftermath - A man fixes the roof of his house in Praia NovaMarch 2019 is now above 1,000, with damages estimated at $2 billion. In 2018, more than 10,000 people lost their lives in disasters (with $225 billion of economic losses). Approximately 79 percent of fatalities occurred in the Asia Pacific region, including the catastrophic earthquake and tsunami in Indonesia’s Sulawesi Island. In fact, 2017 and 2018 have been estimated as the most expensive back-to-back years for weather disasters, totaling $653 billion of losses.

Continue reading

5 facts about jobs and economic transformation in IDA countries

What are the pathways people follow to better jobs? Economies grow when more people pathwaystobetterjobs-72ppi-pngfind work, when they get better at what they do, and when they move from low-productivity work to better, higher-productivity jobs. Our newest report `Pathways to better jobs in IDA countries’ takes a closer look at how people benefit through jobs in the process of development. It identifies how the available jobs change with economic transformation and shows how the structure of labor markets differs between low, lower-middle, and middle-income countries. It points to key challenges in ensuring that workers can transition between sectors, between locations, and between self- and waged employment.

Continue reading

Shedding light on the informal economy: A different methodology and new data

In Mozambique’s three largest cities (Maputo, Beira, and Nampula), informal informal_economy_image01businesses—those operating outside formal licensing and registration procedures—outnumber formal firms by a factor of 9 to 1. The World Bank’s Enterprise Analysis Unit recently published surveys of informal businesses in Mozambique, conducted in collaboration with the country management unit and colleagues from the Finance, Competition, and Innovation Global Practice. These surveys were designed to mirror the standard World Bank Enterprise Surveys, which cover the formal sector, but were tailored to better understand the unique conditions in which informal firms operate. Thanks to recent methodological innovation in sampling techniques, these surveys now also provide an estimate of the total number of informal businesses.

Continue reading

Our Mission Is More Urgent Than Ever

The global outlook foresees a moderate slowdown in economic activity, with lingering DC-780.jpgdownside risks. Global trade growth has weakened, while investment prospects have softened; both of these remain important engines of growth, productivity, innovation, job creation and sustainable development. Debt vulnerabilities persist, and policy uncertainty is weighing on confidence.  For developing countries, it is important to adopt growth-enhancing policies while containing risks and protecting the most vulnerable. The World Bank Group, in partnership with the International Monetary Fund, is able to help countries in addressing these concerns.

Continue reading

Spring Meeting Recap

Did you the miss the Spring Meeting Events? Spring

President David Malpass opening remarks.

Each Spring, the Boards of Governors of the World Bank Group and International Monetary Fund (IMF) hold Spring Meetings to discuss a range of issues related to poverty reduction, international economic development and finance. World Bank Live brings #WBGMeetings experience straight to you wherever you are in the world.

Watch, engage, and be part of the global conversation!

World Bank/IMF Spring Meetings 2019: Development Committee Communiqué

 

 

 

Paying for development – Governments are sitting on a ‘goldmine’

Four years have passed since the launch of the 2030 Agenda and its 17 Sustainable sceneDevelopment Goals. Mobilizing the necessary resources remains central to its success. Investments in human, social, and physical capital are at the core of sustainable and inclusive growth – and represent an important share of national budgets.

At the World Bank Group we have been at the forefront of the so-called Financing for Development (FfD) agenda to leverage public, private, international, and domestic sources of capital to help reach the global goals.  A short primer on our efforts–which builds on the 2015 Development Committee paper Billions to Trillions – Transforming Development Finance–can be found in the brochure entitled Financing for Development at the World Bank Group.

Continue reading

The Netherlands, World Bank join forces to boost domestic resource mobilization in Africa, the Middle East

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 Signing TF Reina Buijssupport 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.

Continue reading