Syndicate content

East Asia and Pacific

The 2018 Fragility Forum: Managing risks for peace and stability

Franck Bousquet's picture
© Caroline Gluck/Oxfam


In just under two weeks, about 1,000 people will gather in Washington D.C. for the 2018 Fragility Forum. Policy makers from developed and developing countries, practitioners from humanitarian agencies, development institutions and the peace and security communities, academics and representatives of the private sector will come together with the goal of increasing our collective impact in countries affected by fragility, conflict and violence (FCV).
 
The theme of the Forum, Managing Risks for Peace and Stability, reflects a strategic shift in how the global community addresses FCV – among other ways by putting prevention first. This renewed approach is laid out in an upcoming study done jointly by the World Bank and United Nations: Pathways for Peace: Inclusive Approaches to Preventing Violent Conflict. The study says the world must refocus its attention on prevention as a means to achieving peace. The key, according to the authors, is to identify risks early and to work closely with governments to improve response to these risks and reinforce inclusion.

Maximizing finance for development works

Hartwig Schafer's picture
People in Saint-Louis, Senegal. © Ibrahima BA Sané/World Bank
People in Saint-Louis, Senegal. © Ibrahima BA Sané/World Bank


Massive investment is needed to meet the ambitious goal of ending extreme poverty and boosting shared prosperity by 2030. By some estimates it could cost as much as $4.5 trillion a year to meet the Sustainable Development Goals (SDGs), and obviously, we will not get there solely with public finance. And there’s the rub: Countries will only meet the SDGs and improve the lives of their citizens if they raise more domestic revenues and attract more private financing and private solutions to complement and leverage public funds and official development assistance. This approach is called maximizing finance for development, or MFD.

Key lessons for policymakers from China’s financial inclusion experience

Jennifer Chien's picture

Woman with child in People’s Square in Yanting, China
Over the past 15 years, China has emerged as one of the world’s financial inclusion success stories. While much attention has been paid to the rapid innovation and massive scaling of Chinese fintech companies, China’s successes in financial inclusion reach beyond fintech. Account ownership has increased significantly and is now on par with that of other G-20 countries. One of the largest agent banking networks in the world has been established. And a robust financial infrastructure has been developed that underpins these successes.
 
So what can policymakers in other countries learn from China’s experience? While China is in some ways a unique environment, there are still valuable lessons to be learned from both its successes as well as its remaining challenges.
 
A new report released last week -– Toward Universal Financial Inclusion in China: Models, Challenges, and Global Lessons - provides a wealth of data and information about the various initiatives and efforts that have contributed to China’s advances in financial inclusion. The report, which was jointly written by the People’s Bank of China and the World Bank Group, also outlines remaining challenges and distills lessons for policymakers in other countries.

Sustainable Development Goals and the role of Islamic finance

Abayomi Alawode's picture
 bigstock/joyfull
Malaysia is home to a vibrant Islamic banking sector. Islamic finance has grown rapidly in the past two decades and it now stands as a potential contributor in supporting the Sustainable Development Goals. Photo: bigstock/joyful

Islamic finance has the potential to play a crucial role in supporting the implementation of the Sustainable Development Goals (SDGs). In the face of significant financing needs for the SDGs, Islamic finance has untapped potential as a substantial and non-traditional source of financing for the SDGs.

The growth of Islamic finance has been rapid at 10-12% annually over the past two decades. By 2015, the industry had surpassed US$1.88 trillion in size. Islamic finance has emerged as an effective tool for financing development worldwide, including in non-Muslim countries, and may prove to be an important contributor towards realizing the SDGs. 

The Third Annual Symposium on Islamic Finance was held in Kuala Lumpur in November 2017, co-organized by the World Bank Group, Islamic Development Bank, International Center for Education in Islamic Finance (INCEIF) and Guidance Financial Group to explore the potential contributions that Islamic Finance can make to achieving the SDGs.

The economic outlook for East Asia and the Pacific in six charts: Strong growth, easing moderately

Ekaterine T. Vashakmadze's picture
Growth in the EAP region strengthened marginally to 6.4 percent in 2017, 0.2 percentage point higher than expected. The region continued to be a major driver of global growth, accounting for more than a third of it in 2017, mostly because of China’s significant contribution. Regional growth is projected to gradually slow to 6.2 percent on average in 2018-20. That is broadly in line with previous forecasts, with the structural slowdown in China outweighing a modest further cyclical pickup in the rest of the region.

Yin Yin Lam - 10 candid career questions with infrastructure & PPP professionals

Yin Yin Lam's picture



Welcome to the “
10 Candid Career Questions” series, introducing you to the infrastructure and PPP professionals who do the deals, analyze the data, and strategize on the next big thing. Each of them followed a different path into infra and/or PPP practice, and this series offers an inside look at their backgrounds, motivations, and choices. Each blogger receives the same 15 questions and answers 10 or more that tell their career story candidly and without jargon. We believe you’ll be as surprised and inspired as we were.  

UN-Habitat Executive Director: Let’s work together to implement the New Urban Agenda

Sameh Wahba's picture
During the Ninth Session of the World Urban Forum (WUF9) in Kuala Lumpur, Malaysia, the World Bank delegation met with Maimunah Mohd Sharif, Executive Director of the United Nations Human Settlements Program (UN-Habitat).

Ms. Sharif became the Executive UN-Habitat in December 2017, succeeding Joan Clos of Spain. She was previously Mayor of the City Council of Penang Island, Malaysia, where she led the Municipal Council of Seberang Perai to achieve its vision of a “cleaner, greener, safer and healthier place to work, live, invest and play.”

One small step for international air transport, one giant leap for Tuvalu

Nora Weisskopf's picture
Funafuti International Airport (FUN), Tuvalu. Photo: Deviyani Laxmi Dixit/World bank


It’s not often that Bank staff members help make history – but we did by assisting Tuvalu in becoming the 192nd member of the International Civil Aviation Organization (ICAO).

Created in 1944, the ICAO is a UN organization that sets standards and regulations for civil aviation. ICAO membership is important for Tuvalu, as it is a key prerequisite for the development of international air services.

Strategies that work: New South Wales leads infrastructure development in Australia

Mar Beltran's picture


Photo: Dylan's World / Flickr Creative Commons

A decade before the financial crisis, Australia was a bastion of infrastructure successes. The country’s four major airports (Melbourne, Perth, Brisbane and Sydney) were privatized. Numerous greenfield projects were also launched, for example, extensive highway construction, and new projects were continually added to the pipeline.
 
Some of these new projects, however, faced significant difficulties: some were constructed without robust performance data, leading to overambitious forecasting and overaggressive financial structures. In part, this led Australia to suffer multiple high-profile defaults and brought the country’s infrastructure project pipeline to a halt.
 
But, today, Australia is displaying signs of promise once again. And one state, in particular, is among the developed world’s GDP growth outliers: New South Wales (NSW). The state’s economic growth has reached 3.5%, outstripping the country’s average rate of 2.8%, and even the G20 average (which stands at 3%). As such, NSW’s infrastructure model has likely had a multiplier effect on economic activity—and has been identified as a potential playbook for other jurisdictions.


Pages