Becoming a Leader in Latin America’s Wastewater Treatment – The Case of Guayaquil

World Bank Group Launches High Level Council to Tackle Looming Jobs Crisis

Council to be co-chaired by the President of the Republic of Singapore Tharman Shanmugaratnam and former President of the Republic of Chile Michelle Bachelet

WASHINGTON, Aug. 12, 2024—The World Bank Group today announced the launch of the High-Level Advisory Council on Jobs, a new initiative that will identify actionable policies and programs to address the looming jobs crisis in the Global South.

Continue reading

Ingredients for Accelerating Universal Electricity Access: Lessons from Rwanda’s Inspirational Approach

In just 15 years, Rwanda has increased its electricity access to 75% from 6% in 2009. This took government ownership, leadership, and commitment, partnership with the private sector, funding from development partners, and dedicated structure and institutional strengthening.

The goal of lighting up every household is not a dream, but an achievable reality. In a remarkable 15-year journey, Rwanda increased access to electricity to households from 6% in 2009 to 75% as of March 2024. The country has connected 100% of health centers and administrative facilities at the sector level and 84% of schools and most productive users (micro, small, and medium-sized enterprises). This electrification expansion was one of the fastest in the world between 2010 and 2020, ranking 11th globally and 3rd in Africa.

Government ownership, leadership, and commitment to universal electrification. Since 2008, the Government of Rwanda (GoR) has been intentional in engraining electrification targets in its development strategies. The Economic Development and Poverty Reduction Strategy 1 (EDPRS1 2008-2012) set out targets for electricity connections from 70,000 to 200,000 households, and for institutions providing social and administrative services from 50% to 80%. Likewise, both the EDPRS2 (2013-2018), and the National Strategy for Transformation 1 (2017-2024) set a universal electrification target by 2024.

Continue reading

Navigating troubled waters: The Red Sea shipping crisis and its global repercussions

 

The Red Sea, a critical conduit for 30% of the world’s container traffic, is currently facing aOil-tanker-Hero-Image_1140x500 shipping crisis of unprecedented scale. The New Brief, first of a new series analyzing recent economic and social developments and special issues in Fragile, Conflict, and Violence (FCV) situations in the Middle East and North Africa (MENA), explores the impact of the Red Sea shipping crisis. The recent conflict in the Middle East has led to attacks on commercial vessels, causing a significant downturn in maritime activity (Figure 1). As of end-March 2024, the volume of traffic through the strategic Suez Canal and Bab El-Mandeb Strait has dropped by half, while the alternative route via the Cape of Good Hope route has witnessed a 100% increase in navigation (Figure 2).

Continue reading

March 2024 global poverty update from the World Bank: first estimates of global poverty until 2022 from survey data

Global poverty estimates were updated today on the Poverty and Inequality Platform (PIP). As image-4-1explained in more detail in the What’s New document, more than 100 new surveys were added to the PIP database, bringing the total number of surveys to more than 2,300. With more recent survey data, this March 2024 PIP update is the first to report a global poverty number for 2020-2022, the period of the COVID-19 pandemic. We estimate that COVID-19 increased extreme poverty in the world, as measured by the international poverty line of $2.15, from 8.9 percent in 2019 to 9.7 percent in 2020 (see Figure 1). This is the first increase in global poverty in decades. It is in line with earlier estimates of the COVID-19 impact which used limited survey data and GDP growth projections. 

Continue reading

Educating for the present and the future: using Artificial Intelligence (AI) to address the learning crisis

Can Artificial Intelligence (IA) help address massive education gaps? The answer is a cautious EducacionTecnolog-aLAC 1140x500and optimistic yes. 1.8 billion students in the world should receive a good education. However, half of them do not achieve basic reading and numeracy skills needed for life.

Continue reading

Empowering Africa’s Youth: Bridging the Digital Skills Gap

Getting back on track to meet the first Sustainable Development Goal

 

Almost 10 years ago, countries worldwide adopted the Sustainable Development Goals sdgs-icp-1140x500 1140x500(SDGs), 17 targets for the global community to achieve by 2030 to ensure peace and prosperity for current and future generations. The first of these goals, SDG 1, calls for an end to poverty in all its forms everywhere.

Continue reading

Breakthrough pension reform in Saudi Arabia – A model for the MENA region

Saudi Arabia took a big leap forward in transforming its pension system with the recent Arabia-Saudi-Hero-stock-1258462660 1140x500announcement of comprehensive reforms, designed with support from the World Bank, aimed at enhancing income protection during old-age, but also promoting gender equality. Aging populations, caused by increasing life expectancy and falling fertility rates, combined with the changing nature of work and the erosion of informal and traditional family support systems, have created considerable challenges for pension systems worldwide. Many are facing fiscal sustainability pressures and adequacy concerns, including in the Middle East and North Africa (MENA) region. Pension reform is always difficult due to the political economy challenges, which is why this comprehensive pension reform in Saudi Arabia is such a breakthrough. It truly sets a new benchmark for the MENA region, addressing critical issues such as retirement age, maternity leave, and social insurance coverage.

Continue reading