FDI drops and MIGA innovates

As investment into developing nations drops, MIGA innovates. miga_hero.jpg

The United Nations Conference on Trade and Development recently reported that global foreign direct investment (FDI) flows dropped by almost a third in the second quarter of 2022, with flows to several emerging regions down significantly and flows to Africa near zero. The outlook for FDI next year is gloomy at best.

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A child or youth died once every 4.4 seconds in 2021 – UN report

Another 1.9 million babies were tragically stillborn during the same period, according to a separate UN report.

NEW YORK/GENEVA/WASHINGTON D.C., 10 January 2023 – An estimated 5 million children died before their fifth birthday and another 2.1 million children and youth aged between 5–24 years lost their lives in 2021, according to the latest estimates released by the United Nations Inter-agency Group for Child Mortality Estimation (UN IGME).

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Investment in the rural economy reduces pressure to migrate internationally

 

In a world characterized by high country income differentials, rising food insecurity, and the proliferation of conflicts, international migration is viewed by many as the path to a (better) life. Unsurprisingly, concerns are also rising in destination countries about an undue influx of migrants, especially economic migrants, fuelling antimigrant sentiment and policies.

A paradoxical narrative is further taking hold that development, and by extension development assistance, would increase (as opposed to reduce) migratory pressures, at least in first instance, and that the effect of development aid on migratory pressures has been small at best.

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Food Security

 
 

 

Latest Update – December 19, 2022

Domestic food price inflation remains high around the world. Information between August to November 2022 shows high inflation in almost all low-income and middle-income countries; 88.2% of low-income countries, 90.7% of lower-middle-income countries, and 93% of upper-middle-income countries have seen inflation levels above 5%, with many experiencing double-digit inflation. The share of high-income countries with high food price inflation has risen to 81.8%. The countries affected most are in Africa, North America, Latin America, South Asia, Europe, and Central Asia.

Download the latest brief on rising food insecurity and World Bank responses

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A transformed fertilizer market is needed in response to the food crisis in Africa

One clear message from my dozen meetings last week with African leaders who were in Washington for a summit with the U.S. government was that fertilizer prices are out of reach for most farmers, putting the crop cycle and rural stability at risk. Across 45 countries globally, 205 million people are in acute food insecurity, meaning they have so little access to food that their lives and livelihoods are in danger.  One key obstacle to food production in many developing countries is access to fertilizers, which enrich the soil with the nutrients needed for healthy crops. Sufficient primary raw materials – nitrogen, potash, phosphate, and natural gas – and fertilizer production facilities are essential to farmers across the developing world, but high fertilizer prices are blocking the 2023 and 2024 crop cycle.

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Journey into the Congo Basin – The Lungs of Africa and Beating Heart of the World

STORY HIGHLIGHTS congo-bassin-v3-780x439

  • Spanning over six countries, the Congo Basin is the world’s largest carbon sink.
  • In the run-up to the Africa COP-27, Central African voices are calling for adaptation. Listen to voices of local climate champions in an immersive VR journey into the Congo Basin.
  • Together with governments, regional initiatives such as Blue Fund for the Congo Basin, and partners such as the Central African Forest Initiative, Forest Carbon Partnership Facility, Forest Investment Program, Global Environment Facility, PROGREEN, and REDD+, the World Bank is committed to supporting forest-smart development in the Congo Basin, putting people at the center.

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Nature’s high returns

The mega-challenges engulfing the world today – from COVID-19 to climate change – have environment_hero.jpghighlighted the interdependencies between people, planet, and the economy.  As we chart a course to reignite global growth and drive green, resilient, and inclusive development, we must not ignore these interlinkages. Nature – meaning biodiversity and the services that healthy ecosystems provide – is central to this endeavor, especially in developing countries, where poor people in rural areas tend to rely heavily on nature’s services and are the most vulnerable to its depletion.

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Keeping Ukraine’s Private Sector Afloat—and Ready for Reconstruction

IFC’s Economic Resilience Action

In over a decade as a fitness instructor in Kyiv, Marina Smal has led nearly every kind ofphoto_2022-06-01_16-38-27-002-1280x960 workout, from kids’ yoga to power stretching to strength training.  At the fitness studio she and her partner established in 2019, she coordinated scores of classes and personal training sessions.  It was exactly the kind of hectic, rewarding schedule she envisioned when the couple decided to invest in their own business.

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