Published on Voices The private sector can be a powerful partner in West Africa and the Sahel

Economic growth has the power to transform societies, boost prosperity, and enable senegal-farhat-0729citizens to thrive. But for that economic growth to benefit the poorest members of society, it must be accompanied by more and better jobs, one of main routes out of poverty. That is why job creation remains a top development priority—and a critical challenge.

As I prepare to head to Abidjan, Côte d’Ivoire, for the 2019 Development Finance Forum, it is useful to remember that the private sector is a key player in development. A vibrant private sector is a powerful driver of jobs and can underpin sustainable economic growth, fueling innovation and poverty reduction.

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World Refugee Day 2019: Building a stronger international response to the challenge of forced displacement

This year, World Refugee Day finds me in Addis Ababa with representatives from more ethiopia-for-blogthan 50 governments to review the work of the International Development Association (IDA), the arm of the World Bank Group that provides financing to the poorest countries, and discuss priorities for the years ahead. Under its current program, IDA is providing $2 billion to 14 low-income countries which together are hosting 6.4 million refugees, including in Ethiopia. 

Ethiopia is among the countries that is taking major steps forward. Here, for example, we have supported the government in adopting a new legal framework for refugees which will allow them to gradually move out of camps, find jobs, and access education and health services. This is no small measure for the more than 900,000 refugees who are hosted along Ethiopia’s borders with Somalia, Eritrea, Sudan, and South Sudan. It is the difference between having a chance to restart their lives or be condemned to dependency and destitution.

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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.

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Every day is Women’s Day for IDA

At the World Bank, we believe no country, community, or economy can achieve its afghanistan-school-gender-girls.jpg potential or meet the challenges of the 21st century without the full and equal participation of women and men, girls and boys. This is particularly true in developing countries supported by the International Development Association (IDA), the arm of the World Bank that supports the poorest countries.

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Tackling climate change in the poorest countries

How can we help the poorest countries deal with climate change? The challenge is huge. Globally, the last three years were the hottest on record.  Emissions of carbon dioxide from fossil fuels and industry started rising again in 2017 after briefly leveling off. Many regions are experiencing more severe and frequent storms, floods, and drought. According to the latest Intergovernmental Panel on Climate Change report, the climate consequences of a 2°C warmer world are far greater than for a rise of 1.5°C, and we are not on track for either. 20120903-burundi-farhat-9869

Recognizing the urgent need for more action, the World Bank Group announced new and ambitious targets for our climate work with developing countries at COP24, this month’s global climate change conference in Katowice, Poland.

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World Bank Group Announces $200 billion over Five Years for Climate Action

Funding for 2021-2025 includes a significant boost for adaptation and resilience World Bank building

Washington DC – 3 December, 2018 —The World Bank Group today announced a major new set of climate targets for 2021-2025, doubling its current 5-year investments to around $200 billion in support for countries to take ambitious climate action. The new plan significantly boosts support for adaptation and resilience, recognizing mounting climate change impacts on lives and livelihoods, especially in the world’s poorest countries. The plan also represents significantly ramped up ambition from the World Bank Group, sending an important signal to the wider global community to do the same.

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IDA17 Retrospective: Maximizing Development Impact

Leveraging IDA to meet global ambitions and evolving client needsIDA

This report examines what the International Development Association (IDA) achieved during the IDA17 period (July 1, 2014 to June 30, 2017), and takes a close look at how IDA continues to maximize development impact to deliver these results in a fluid and challenging global environment. This report covers three areas essential to understanding both IDA’s efforts and the environment in which it works: (1) The rapidly-evolving global economic and development landscapes; (2) The results achieved through IDA’s work with client countries and other partners; and (3) The unfinished agenda, which demands an ongoing, broad-based commitment to achieving results through IDA as the world’s global alliance for the poor.

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A Strong Foundation for Greater Impact

devcomm_leaderDespite expectations that growth will be robust in the near term, developing countries face challenges to keep up the pace of progress and ensure inclusive, sustainable growth amid structural changes to the global economy. The World Bank Group is uniquely placed to address global challenges and help countries achieve their goals in today’s increasingly complex development landscape.

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A Strong Foundation for Greater Impact

devcomm_leaderDespite expectations that growth will be robust in the near term, developing countries face challenges to keep up the pace of progress and ensure inclusive, sustainable growth amid structural changes to the global economy. The World Bank Group is uniquely placed to address global challenges and help countries achieve their goals in today’s increasingly complex development landscape.

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Why investors must take a chance in the world’s most fragile countries

untitledFragility, conflict and violence affect more than two billion people across the globe. And while poverty on the whole is declining, that’s not the case in countries affected by conflict. It is these countries plagued by near-constant political and economic instability that are often the ones most in need of private investment. Yet they are also the places few private investors are willing to go. The risks seem to outweigh the rewards.

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