Year in review: 2018 in 14 facts

As 2018 has ended extreme poverty is at the lowest level in recorded history but is yearinreview2018expected to become increasingly concentrated in one region. A record number of people have been forcibly displaced from their homes, and an influential new report confirms we’re running out of time to limit global warming. Yet, innovation and disruptive technologies are helping to bring clean energy to millions and connecting hundreds of millions of people to the financial system. These 14 facts tell a story about the challenges we face — and the actions needed to create a more inclusive, sustainable world.

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The Safe Food Imperative: Accelerating Progress in Low- and Middle-Income Countries

STORY HIGHLIGHTSfood_key

  • Unsafe food costs low- and middle-income economies US$ 110 billion in lost productivity and medical expenses each year.
  • Preventative measures—including greater investment, better regulatory frameworks and measures that promote behavior change—can help countries avoid food safety problems
  • An inclusive approach to food safety management that makes food safety a shared responsibility among government, farmers, food businesses and consumers will be most effective

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Shortage of Long-Term Finance Blunts Progress in Developing Countries

Article originally published here

Long-term finance is essential for households, firms and sustainable development.

WASHINGTON, September 14, 2015—A shortage of long-term financing since the 2008 crisis is choking the investment-backed growth of companies in developing countries and hampering the ability of credit-worthy families to borrow for education and housing needs and escape poverty, a new World Bank report warned today.

According to the new report: ‘Global Financial Development Report 2015-2016: Long-term Financing,’ extending the maturity structure of finance is considered to be at the core of sustainable financial development. ( Full report available: www.worldbank.org/financialdevelopment )

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Global Economic Prospects

The World Bank Group published its Global EcInfographiconomic Prospects (GEP) report yesterday, January 13, 2015.

After growing by an estimated 2.6 percent in 2014, the global economy is projected to expand by 3 percent this year, 3.3 percent in 2016 and 3.2 percent in 2017, predicts the Bank’s twice-yearly flagship. Developing countries grew by 4.4 percent in 2014 and are expected to edge up to 4.8 percent in 2015, strengthening to 5.3 and 5.4 percent in 2016 and 2017, respectively.

“In this uncertain economic environment, developing countries need to judiciously deploy their resources to support social programs with a laser-like focus on the poor and undertake structural reforms that invest in people,” said World Bank Group President Jim Yong Kim. “It’s also critical for countries to remove any unnecessary roadblocks for private sector investment. The private sector is by far the greatest source of jobs and that can lift hundreds of millions of people out of poverty.”

Read the World Bank press release here.