This note presents the results of the first Inspection Panel ('the Panel') case under its 'pilot approach to support early solutions for request for inspection' ('the Pilot').
... Подробнее + On September 30, 2013, the Panel received a request for inspection of the Nigeria: Lagos Metropolitan Development and Governance Project ('the Project'), and after consulting with the requesters and management, the Panel decided to consider this case under the Pilot approach. In addition to presenting the results of the case in the context of the Pilot, this note also provides insights into the issues that arose during the Panel's assessment of the case and the lessons that emerged from it. The Request for Inspection ('the request') was submitted by the Social and Economic Rights Action Center (SERAC) in Lagos, on behalf of 'individuals, families and groups living in the Badia area of Lagos State' alleging that the project has caused the 'impoverishment and insecurity' of Badia residents, a vulnerable slum community in Lagos, as a result of evictions that have occurred under the Project 'without prior consultation, notice, compensation or resettlement.' The requesters believe that they have suffered serious harm as a result of actions and omissions of the World Bank. They state that the Bank is 'clearly obliged to ensure that the project is implemented in accordance with its own operational policies and to hold Lagos State to its commitments under the LMDGP Project Agreement.' They add that on February 23, 2013, again, hundreds of structures were demolished in the area of Badia East immediately adjoining the canal mentioned above, forcefully evicting about 9.000 inhabitants. According to the Requesters, both incidences occurred without prior consultation, notice, compensation or resettlement and resulted in their further impoverishment. They add that since February 23, 2013, no relief or emergency aid measures have been provided to mitigate the extreme suffering of thousands of affected people. The Request refers to a number of interactions in which these concerns have been raised with World Bank representatives between March 2012 and July 2013.
Менее подробно –
Уведомление о регистрации Инспекционной комиссии 89613 JUL 16, 2014
The Agro-Sylvo Pastoral Exports and Markets Development Project of Niger objective and the main components of the Additional Financing (AF) will remain the same as the original project.
... Подробнее + The AF will build on past successes to ensure the consolidation and scaling-up of sub-projects implemented in the original project, the diversification into new value adding segments (storage, processing, and marketing), and the linkages with the commercial banking sector. An additional focus of the AF will be the enhanced support to the operational strengthening of established Interprofessions or Inter professional organizations: livestock products, onion, cowpeas, sesame, tiger nuts, and gum Arabic). This Project Paper seeks the approval of the Executive Directors to provide Additional Financing to the Republic of Niger in the amount of US$13.8 million for the Niger Agro-Sylvo-Pastoral Exports and Markets Development Project (PRODEX). The PRODEX aims at adequately addressing the numerous constraints that continue to hinder the competitiveness of supply chains and the development of agriculture and livestock in Niger. The proposed Additional Financing would help finance the costs associated with the scaling up of PRODEX activities, with a view to securing a higher level of Development Objective achievements over an additional two-year project implementation period. The AF will enhance the project impact by expanding its coverage to a larger group of emerging market-oriented small and medium enterprises in project-targeted agriculture and livestock Value Chains. Project impact will also be enhanced by laying the groundwork for a sound exit strategy and strong sustainability.
Менее подробно –
The Joint Ministerial Committee of the Boards of Governors of the World Bank and the International Monetary Fund on the Transfer of Real Resources to Developing Countries, the Development Committee, held its eighty-ninth meeting on April 12, 2014, in the Preston Auditorium of the World Bank in Washington, DC.
... Подробнее + The meeting consisted of a single session, preceded by an informal Ministerial-level lunch for Members only on the same day. Members circulated their written statements in advance and these are part of this document. Also included is a note by the International Monetary Fund Managing Director distributed ahead of the meeting. The meeting started at 3:15 p.m. with opening statements by Dr. Kim, President of the World Bank Group, and Ms. Christine Lagarde, Managing Director, International Monetary Fund, and ended at 5:30 p.m. It was chaired by Mr. Marek Belka, President, National Bank of Poland. The Agenda (Annex A) was adopted at the beginning of the meeting, followed by a discussion of the agenda topic: a paper entitled 'growth in the post-crisis global economy: policy challenges for developing countries'. In addition to the above discussion topic, a paper entitled 'progress report on mainstreaming disaster risk management in World Bank Group Operations' was submitted to the Committee as a background report. Ministers commented on these documents in their written statements to the Development Committee. The Communique (Annex B) was adopted at the end of the meeting and records the salient points and outcome of the Ministerial discussion.
Менее подробно –
The development objective of the Deepening Medium Term Budget Framework (MTBF) and Strengthening Financial Accountability Project for Bangladesh is to deepen and institutionalize the MTBF and build a more strategic and performance oriented budget management process, while strengthening financial accountability across the expenditure management cycle.
... Подробнее + This restructuring will bring the following changes: (i) partial extension of the closing date by two months, from July 31, 2014 to September 30, 2014 in order to provide the additional time needed for 26 scholarship students already enrolled in overseas master's programs to complete studies and fund costs related to scholarships for August and September 2014 from the project grant. Only expenditures related to the completion of overseas master's programs for the 26 scholarship students already enrolled will be eligible after July 31, 2014; (ii) a reallocation between spending categories to create a new spending category exclusively for expenditures eligible in the extension period; and (iii) an amendment to the grant agreement (GA) to formalize the above changes.
Менее подробно –
The second additional financing of the Social Fund for Development Phase IV Project for Yemen will help finance the costs associated with continuing activities under the project's established and successful Community and Local Development Program.
... Подробнее + Over the remainder of the project period, the second additional financing will improve access to basic services through delivery of poverty-targeted improvements in community infrastructure and building local capacity. The expected outcomes, based on performance of the program to date, include: (a) increased school enrolment, especially of girls; (b) improved access to water; (c) increased agricultural productivity and incomes; (d) access to improved public health services; and (e) reduced travelling time owing to rural road improvements. The second additional financing does not present any implications for the results framework as it supports only existing project activities within the project's existing budget framework and associated targets. However, the results framework for the project as a whole was reviewed and is being revised. Some revisions and clarifications regard how to measure some of the project development objective indicators; in addition, some of the intermediate indicators and targets will be modified to better capture the project results. The original project development objectives are to: (i) improve access to basic services; (ii) enhance economic opportunities; and (iii) reduce the vulnerability of the poor. The objectives, which remain highly relevant, are supported through four components. The first component concerns the Community and Local Development Program. The CLDP activities, to be supported through the proposed second additional financing, are directed to improving access of the poor to basic services. The activities include community-driven small infrastructure projects targeted to poor communities, primarily in the education, water, roads, health, and agriculture sectors. They also include interventions targeted towards the poorest communities and special needs groups as well as local-level capacity building. The second component concerns the Small and Micro Enterprise Development Program which aims to strengthen and build capacity of local microfinance providers and to actively promote entry into the market by creating an enabling environment and by encouraging the establishment of new financial service providers. The third component concerns the Capacity Building Program which supports the other three programs through a focus on capacity-building of local entities, including local and central government bodies, NGOs, and communities, as well as supporting strengthening of the project's own institutional capacity, to include for example monitoring and evaluation, management, and transparency. The fourth component concerns the Labor-Intensive Works Program, providing a cash-for-work safety net to targeted households to bridge their consumption gap during shocks and stagnation of agricultural seasons, while increasing the productive assets of communities and households.
Менее подробно –
The development objective of the E-Society and Innovation for Competitiveness (EIC) Project for Armenia is to address constraints to competitive e-Society and enterprise innovation in Armenia by strengthening the underlying infrastructure and enabling environment.
... Подробнее + The restructuring will comprise of following changes: (i) reallocation of loan proceeds in the amount of United States (U.S.) 4 million dollars from category 2(a) to category 1 of eligible expenditures as defined in the loan agreement; (ii) change of scope in component 1: national broadband sub-component (1.1) will be scaled down to a rural broadband sub-component; (iii) change of scope in component 2: removing idea generation mini grants (activity 2.1.1) adding Vanadzor technology center to sub-component 2.2 (currently just Gyumri technology center) adding grants program for Vanadzor (sub-component 2.2) seed and early stage venture fund (Activity 2.1.2): U.S. $300,000 will be reallocated from category 1 goods, works, consultants' services, training, and incremental operating costs for the project to category 2(d) sub-financing for sub-project under part B.1(b) of the project (seed and early stage venture fund) to be financed 100 percent from loan proceeds. Remove innovation brokerage activity 2.1.3 and managerial secondments sub-activity 2.3.1.ii; (iv) a 16-month extension of the project closing date along with restructuring; and (v) environmental and social risks of works to be undertaken for the rehabilitation of premises for Vanadzor technology center are modest.
Менее подробно –
Ponzis are among the most ubiquitous and least understood phenomena of economic life. They acquired a certain salience with the global financial crisis of 2008 and the crash of Bernie Madoffs celebrated Ponzi scheme.
... Подробнее + This paper explains the structure of Ponzi schemes and goes on to argue that what makes this such a troubling phenomenon is its ability to be camouflaged amidst legitimate practices. It is shown, for instance, that the common practice of giving stock options to employees could be a potential Ponzi that allows corporations to flourish for a while by borrowing from its own future. The paper goes on to discuss the need for intelligent regulation to incise harmful Ponzis (not all Ponzis are harmful) while taking care not to damage other legitimate activities that surround them.
Менее подробно –
Рабочий документ в рамках исследования вопросов политики WPS6967 JUL 01, 2014
Power sector subsidies in Sub-Saharan Africa are substantial and highly regressive. While subsidies can be quick, easy, and politically expedient to implement, they are equally quick to take root and challenging to remove.
... Подробнее + Optimal policies that are technically sound and welfare-enhancing over the long run have nevertheless been found difficult to launch and even more challenging to sustain. Of the barriers to reform, those associated with political economy are among the most powerful, yet their analysis is often lacking due consideration in the reform design process. This paper reviews the literature on power subsidies and their reform with emphasis on the political economy of such reform. It examines pricing principles in the power sector and different types of subsides; drivers for subsidies, benefits and costs of subsidy reform, and their distribution; and approaches to political economy analysis, tools available, and methodological issues. The paper draws examples from Sub-Saharan Africa and elsewhere, and presents case studies from the literature.
Менее подробно –
This paper uses a panel of annual observations for 198 banks in 19 Middle East and North Africa countries over 2001-12 to develop an early warning system for forecasting bank insolvency based on a multivariate logistic regression framework.
... Подробнее + The results show that the traditional CAMEL indicators are significant predictors of bank insolvency in the region. The predictive power of the model, both in-sample and out-of-sample, is reasonably good, as measured by the receiver operating characteristic curve. The findings of the paper suggest that banking supervision in the Middle East and North Africa could be strengthened by introducing a fundamentals-based, off-site monitoring system to assess the soundness of financial institutions.
Менее подробно –
Рабочий документ в рамках исследования вопросов политики WPS6969 JUL 01, 2014
In countries with limited access to finance, firms accumulate retained earnings to finance indivisible investment projects. McKinnon (1973) illustrates that when cash is used as a primary store of value, inflation may discourage investment as it increases the cost of accumulating retained earnings.
... Подробнее + This paper formalizes this argument in a dynamic framework and provides a simple calibration of the model that suggests sizable effects of inflation on investment. The mechanism is particularly relevant for small firms, as firms with lower cash flows must accumulate retained earnings for longer periods of time to meet the price of indivisible investment goods. Consistent with the model, empirical evidence suggests that inflation disproportionately reduces investment in small firms.
Менее подробно –
Рабочий документ в рамках исследования вопросов политики WPS6972 JUL 01, 2014
Ratings for the Rio Grande do Sul Integrated Municipal Development Program Project for Brazil were as follows: outcomes were moderately satisfactory, risk to development outcome was significant, Bank performance was moderately satisfactory, and Borrower performance was moderately satisfactory.
... Подробнее + Some lessons learned included: investment projects with small and medium-sized municipalities require sustained efforts to construct and enhance the institutional capacity of the Borrowers. The design of investment projects with subnational clients (especially those of small and medium scale) should take the Borrower's implementation capacity into account when introducing innovative and or multi-faceted approaches. The success of a project depends not only on the project management units (unidades de gestao do projeto) (UGP's) internal structure and capacity, but also on the level of coordination between the UGP and the Borrower's decision making structure and the commitment of policy makers. In the case of small to medium size municipalities, counterpart funding requirements should be carefully assessed at entry, considering the financial and fiscal situation of the particular Borrower. While grouped projects can present advantages in economies of scale, these gains must be balanced against the operational burden on the Bank to ensure a cost-efficient project. Horizontal adaptable programmatic loans (APLs) can be appropriate instruments for designing successful, relevant, and efficient multi-Borrower programs, provided some technical and institutional conditions are met.
Менее подробно –
Отчет о завершении и результатах проекта ICR2315 JUN 30, 2014
The development objective of the Foundations for Competitiveness and Growth Project for Jamaica is to strengthen the business environment in Jamaica for private sector investment.
... Подробнее + Some of the negative impacts and mitigation measures include: (1) improving the existing complex construction permitting process, which can indirectly affect environmental aspects if revisions and updates were to reduce the adequate consideration of potential environmental impacts in the permitting process; (2) involving a project preparation facility (PPF) to provide technical assistance to finance feasibility and other related studies needed to bring large projects to commercial and financial close; (3) funding sector planning studies to help Government of Jamaica prepare and implement investment and linkage plans for critical sectors and development needs. Planning Institute of Jamaica (PIOJ) will be responsible for these studies, given its overall coverage of policy and planning issues; (4) providing technical assistance to project investments related to project origination, project commissioning, and ex-post contract management; and (5) identifying and implementing appropriate training on environmental risk management for associated financial institution (AFI) and Development Bank of Jamaica (DBJ) staff, and also potentially for staff from small and medium enterprises who obtain financing.
Менее подробно –
Оценка состояния окружающей среды E4599 JUN 27, 2014