FEATURING: Franziska Ohnsorge, Manager of the Prospects Group, World Bank; Marcello Estevão, Global Director of the World Bank Group’s Macroeconomics, Trade and Investment Global Practice; and Enrique Cárdenas, Mexican economist and economic historian.
. This poses a serious threat to food security, as the planting season starts this summer. So far, the war in Ukraine has mostly affected countries importing wheat and corn. But many countries, including some major food exporters, are net fertilizer importers. Persistently high fertilizer prices may spread to a broader variety of crops including rice, a staple which has not yet seen war-related price hikes.
Deadline: 10-Aug-2022 at 11:59:59 PM (Eastern Time – Washington D.C.)
The objective of this assignment is to review and assess country level energy demand and supply resources for the period of 2022-2060, develop/update regional power system optimization model, examine potential and benefits of electricity trade among Central Asian countries, and identify interconnection upgrades and potential new cross-border transmission projects that would support decarbonization in the region through scaling up of regional electricity trade in Central Asia. The assessment has to be carried out through comparison of the nationally optimized plan and the regionally optimized plan on each countrys generation development, including considering the latest commitments to carbon neutrality/NDCs, as , as well as World Bank Country Climate and Development Reports (CCDR) where applicable, nature of energy security considerations vs integration of regional options.
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Deadline: 08-Aug-2022 at 11:59:59 PM (Eastern Time – Washington D.C.)
IFC is seeking a firm to support an advisory project in the Rwenzori region of Uganda that will complement an IFC investment transaction. The advisory project will support smallholder farmers to improve coffee production and productivity through the sustained adoption and application of good agronomic practices and enable the Client and its partners to improve the sourcing capacity of high-quality coffee. IFC is therefore seeking a vendor firm to deliver a gender capacity building program [Training of Trainers] to a team of agronomists/field in each of the origin using a transformative change methodology. The training on the gender transformative approach will be delivered by a vendor firm and will target:
up to 23 trainees in Uganda
up to 7 trainees in Zimbabwe
Deadline: 04-Aug-2022 at 11:59:59 PM (Eastern Time – Washington D.C.)
The World Bank is providing technical assistance to Cambodias Ministry of Land Management, Urban Planning and Construction (MLMUPC) and Phnom Penh Capital Authority (PPCA) to conduct the Phnom Penh Capital City Diagnostic aimed at updating the Phnom Penh Green City Strategic Plan (the Strategic Plan). The Strategic Plan will identify opportunities for low-carbon and resilient development under climate change. The project is funded by the City Climate Finance Gap Fund, which aims to help cities in low- and middle-income countries transition towards low-carbon and climate-resilient pathways in line with the goals of the Paris Agreement.
This is a sector that is often overlooked in the climate equation, but it shouldn’t be. Currently responsible for 20% of global GHG emissions and rapidly increasing, transport is something that impacts everyone, everywhere.
The good news is that the tools needed to curb emissions from transport already exist. Some of them – such as enhanced public transport options, active mobility, zero-emission vehicles, and green fuels – are being implemented in many countries. Global sales of electric cars doubled between 2020 and 2021, reaching 6.6 million vehicles, nearly 9% of the global auto market.
The war in Ukraine could soon deliver a tragic blow to many of the world’s poorest countries:
, the World Bank’s latest data show. Over the next year, the tab for imports of wheat, rice, and maize in these countries is expected to rise by the equivalent of more than 1 percent of GDP. That is more than twice the size of the 2021-2022 increase—and, given the relatively small size of these economies, it’s also twice as large as the expected increase for middle-income economies.
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“Expanding people’s access to finance, reducing the cost of digital transactions, and channeling wage payments and social transfers through financial accounts will be vital to mitigating recent economic setbacks in developing countries. Governments and the private sector can help further this transformation in several ways.”
Around the world, high inflation, slow economic growth, and food shortages are hurting the poor the most. Coming on top of the unequal effects of the COVID-19 pandemic, today’s multiple crises have already caused dramatic reversals in development and led to a substantial increase in global poverty.
On the positive side,.
These changes are strikingly evident in the latest edition of the Global Findex database, compiled from a survey of more than 125,000 adults in 123 economies, covering use of financial services throughout 2021. The survey found that 71% of adults in developing economies now have a formal financial account – whether with a bank, another regulated institution such as a credit union or microfinance lender, or a mobile money service provider – compared to 42% when the first edition of the database was published a decade ago. In addition,
This digital transformation makes it easier, cheaper, and safer for people to receive wages from employers, send remittances to family members, and pay for goods and services. Mobile money accounts can better handle high-volume, small-denomination transactions, which help users to access financial services and save in order to cope better with crises. Individual accounts also give women more privacy, security, and control over their money.
. In Sub-Saharan Africa, 39% of mobile money account holders now use their accounts to save. And more than one-third of people in low- and middle-income countries who paid a utility bill from an account did so for the first time after the start of the COVID-19 pandemic.
Importantly,. Government social programs can now reduce delays and leakage by channeling transfers directly to their beneficiaries’ mobile phones. Millions of people in developing countries received payments in this way during the pandemic, helping to cushion the impact of COVID-19 on livelihoods.
Building on these encouraging trends is crucial, especially given the current economic headwinds. Expanding people’s access to finance, reducing the cost of digital transactions, and channeling wage payments and social transfers through financial accounts will be vital to mitigating development setbacks resulting from the ongoing turbulence.
Governments and the private sector can help further this transformation in several critical areas. First, they need to create a favorable operating and policy environment. For example, enabling the interoperability of systems allows for payments across different types of financial institutions and between mobile money service providers. Improving access to finance depends much more on the mobile-phone system than on the physical banking system. Cheap and functional mobile phones and affordable internet access are prerequisites for expanding digital finance. Consumer protections and stable regulations are also needed to foster safe and fair practices that bolster trust in the financial system.
India and the Philippines that government identification programs and financial-inclusion programs can work in tandem to equip hard-to-reach populations with official identification documents and financial accounts. India, for example, has pioneered a successful accessible digital ID system that pays due attention to safety and privacy.. We know from the experiences of countries such as
Another high priority should be to promote the digitalization of payments. The Global Findex data for 2021 show that 865 million account owners in developing economies opened their first account at a bank or similar institution in order to receive money from the government. This helped households directly and also helped build the digital financial ecosystem, because people who received payments into an account were more likely to use their account to make payments and access other services. Digital payments by governments thus serve as a foundation for assembling credible social registers and identifying gaps and overlaps.
As digital payments become more widespread and less costly, many private businesses will be able to pay their workers and suppliers electronically – and should. The digital revolution offers a chance to increase formal-sector employment without making compliance excessively burdensome. At a time of tighter government budget constraints, digital payments can help broaden the revenue base by reducing tax avoidance and evasion.
Finally, policymakers will need to make additional efforts to include underserved groups., and to need support to open and use a financial account. Financial-education programs, especially those that involve peer-to-peer learning (such as through women’s self-help groups) are essential as well.
The World Bank is firmly committed to expanding financial inclusion through digitalization. We will continue to support countries as they enhance mobile-phone networks, rework regulations to foster access to finance, adopt e-government platforms, and modernize social-protection systems. For the many millions of people who still lack an account, we need to redouble our efforts and find creative ways to connect them to the financial system, build economic resilience, and reap the benefits of inclusion.
This piece was originally published by Project Syndicate on July 7, 2022