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Innovation drives Seychelles blue economy approach

Maria Damanaki's picture
© The Ocean Agency
© The Ocean Agency


Our oceans provide everything from food for billions around the world, to protecting communities and economies from storms—bringing it at least $1.5 trillion to the global economy every year. But they also face a barrage of threats, from marine pollution and dwindling fish stocks, to the dramatic effect of climate change on coastal communities. Such challenges require new ways of thinking and innovative financing tools that address both the health and economic wealth of our oceans.
 
Seychelles is a good example of a country that is going beyond business as usual when it comes to preserving its natural assets. In 2016, the Seychelles completed an innovative debt-for-nature conversion with The Nature Conservancy. This deal raised funding to buy $21 million of Seychelles’ sovereign debt to refinance it under more favorable terms, and then direct a portion of repayments to fund climate change adaptation, sustainable fisheries, and marine conservation projects – as well as to create an endowment for the benefit of future generations of Seychellois.

For billions without formal land rights, the tech revolution offers new grounds for hope

Klaus Deininger's picture
Also available in: Français | Español  | العربية | Русский

Many of today’s increasingly complex development challenges, from rapid urban expansion to climate change, disaster resilience, and social inclusion, are intimately tied to land and the way it is used. Addressing these challenges while also ensuring individuals and communities are able to make full use of their land depends on consistent, reliable, and accessible identification of land rights.

Behold the White Knights! New research on institutional investor participation in financing EMDE infrastructure

Abha Joshi-Ghani's picture


Photo: Grzegorz Zdanowski / Pexels Creative Commons

Some regard institutional investors—with their deep pockets—as the white knights filling the huge investment gaps in infrastructure development in emerging markets and developing economies (EMDEs). The IMF estimates that some 100 trillion dollars are held by pension funds, sovereign wealth funds, mutual funds, and other institutional investors. Unquestionably, the long-term nature of their liabilities matches the long-term financing requirements of infrastructure projects. So, it’s no surprise that institutional investors are seen as the white knights of infrastructure finance.

Understanding the informal economy in African cities: Recent evidence from Greater Kampala

Angus Morgan Kathage's picture
Informal metal worker in Katwe, Kampala. Photo: Angus Morgan Kathage/World Bank

The informal sector is a large part of employment in African cities. The International Labour Organization estimates that more than 66% of total employment in Sub-Saharan African is in the informal sector. With a pervasive informal sector, city governments have been struggling with how best to respond. On the one hand, a large informal sector often adds to city congestion, through informal vending and transport services, and does not contribute to city revenue. Furthermore, informal enterprises are typically characterized by low productivity, low wages and non-exportable goods and services. On the other hand, the informal sector provides crucial livelihoods to the most vulnerable of the urban poor. 

Let’s work together to prevent violence and protect the vulnerable against fragility

Franck Bousquet's picture
Participants from 90 countries and 400 organizations joined the 2018 Fragility Forum to explore development, humanitarian and security approaches to fostering global peace and stability. © World Bank
Participants from 90 countries and 400 organizations joined the 2018 Fragility Forum to explore development, humanitarian and security approaches to fostering global peace and stability. © World Bank


Last week, in a gathering of governments and organizations at the World Bank-hosted 2018 Fragility Forum, the international community took an important step forward in fighting fragility by sharpening our understanding of it, hearing directly from those affected by it and thinking collectively through what we must do to overcome it.

We all agreed, acting on a renewed understanding of fragility and what it means to vulnerable communities represents an urgent and collective responsibility. We’ve all seen the suffering. In places like Syria, Myanmar, Yemen and South Sudan, the loss of life, dignity and economic prosperity is rife. With more than half of the world’s poor expected to live in fragile settings by 2030, we can’t end poverty unless we promote stability, prosperity, and peace in these places ravaged by conflict and crisis.

Harnessing the Nile’s potential through private finance

Arsène Aimé H. Mukubwa's picture


Photo: Jorge Láscar | Flickr Creative Commons

The potential economic benefit from the cooperative use of the Nile’s water is estimated to be worth well over $11 billion—from irrigation and hydropower generation alone. But being able to harness those benefits is a far reach; the Nile Basin—a vital source of drinking water, irrigation, hydropower and transport—has a growing need for infrastructure investments to attain the full potential of this resource. Many of these infrastructure investments need to be coordinated between the basin’s 11 countries to ensure they are creating mutual benefits and are not causing harm to neighboring countries.

The Nile Equatorial Lakes Subsidiary Action Program - Coordination Unit (NELSAP-CU), one of the Nile Basin Initiative’s two investment programs, plays a prominent role in the region’s development. NELSAP supports poverty alleviation, economic growth, and the reversal of environmental degradation in the sub-region through cooperative development and water management. Between 2005 and 2015, we mobilized $90 million of cumulative finance for pre-investment programs (e.g. the Lake Edward and Albert Fisheries Project) and $930 million for investment projects (e.g. the Regional Rusumo Falls Hydroelectric Project).

Celebrating Africa's Female Athletes and Leaders of Tomorrow

Makhtar Diop's picture
Stephan Gladieu/World Bank


Last week we saw two Ivorian women, Murielle Ahouré and Marie-Josée Ta Lou, fly past the finish line in a historic one-two finish in the 60 meters sprint at the World Indoor Championships in Birmingham, England while Burundi’s Francine Niyonsaba triumphed in a gritty 800 meters race. From the 60 meters to the 3000 meters, African women graced the podium or were not far from it, a testament to their athletic prowess.

No, 70% of the world’s poor aren’t women, but that doesn’t mean poverty isn’t sexist

Carolina Sanchez's picture
“Seventy percent of the world’s extreme poor are women”. If you’ve encountered this statistic before, please raise your hand. That is a lot of hands. And yet, this is what we call a ‘zombie statistic’: often quoted but rarely, if ever, presented with a source from which the number can be replicated.

How many companies are run by women, and why does it matter?

Masako Hiraga's picture

Happy International Women’s Day! This is an important year to celebrate – from global politics to the Oscars last weekend, gender equality and inclusion are firmly on the agenda.

But outside movies and matters of government, we see the effects on gender equality every day, in how we live and work. One area we have data on comes from companies: what share of firms have a female CEO or top manager?

Only 1 in 5 firms worldwide have a female CEO or top manager, and it is more common among the smaller firms. While this does vary by around the world – Thailand and Cambodia are the only two countries where the data show more women running companies than men.

Better representation of women in business is important. It ensures a variety of views and ideas are represented, and when the top manager of a firm is woman, that firm is likely to have a larger share of permanent female workers.

Why we must engage women and children in disaster risk management

Monica Vidili's picture

students in Bislig Elementary School in Leyte Province, Philippines

Disasters hit the poorest the hardest. Poor people are not only more vulnerable to climate-related shocks, but they also have fewer resources to prevent, cope with, and adapt to disasters. The poor tend to receive less support from family, community and financial systems, and even have less access to social safety nets, as a recent World Bank report explains.

So, yes, disasters can discriminate on the same lines that societies discriminate against people.

Disasters tend to discriminate along generational and gender lines, as well. Several studies analyzing the impact of disasters have revealed that women and children have greater risks to their survival and recovery in the aftermath of natural disasters. The vulnerability of women and children to natural disasters can be further aggravated by other elements of discrimination such as race, poverty, and disability.

During the 2017 Hurricane Harvey in the U.S., many women—especially women of color—decided to not evacuate risk areas despite all the warnings. Why? All over the world, women and girls are overwhelmingly tasked, personally and professionally, with caring for children, the elderly, and people with disabilities. So, simple life-saving decisions, like discerning whether to evacuate a disaster area, can become a difficult choice.

Poverty and gender norms shape basic survival capabilities as well. For example, according to an Oxfam survey, four times as many women than men were killed in Indonesia, Sri Lanka, and India during the 2004 tsunami, because men were taught how to swim and climb trees at young ages, while women were not.

Access to food and nutritional conditions also determine people’s capacities to cope with disasters. Mercy Corps reports that women and men tend to adopt different resilience strategies during droughts in the Sahel region of Africa—and reducing food intake is one of them. In South and Southeast Asia, 45% to 60% of women of reproductive age are below their normal weight, and 80% of pregnant women have iron deficiencies. During food shortages, women are more likely to suffer from malnutrition because they have specific nutritional needs while pregnant or breast feeding. Women also sometimes consume fewer calories to give priority to men and children.


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