The development objective of the Geothermal Power Generation Project for Djibouti is to assist the recipient in assessing the commercial viability of the geothermal resource in Fiale Caldera within the Lake Assal region.
... Подробнее + The project has three components. The first component is drilling program. This component includes the provision of works, goods and consultants' services for: (i) civil engineering preparatory works necessary for the execution of the drilling program (financed by African Development Bank (AfDB); (ii) execution of the drilling program as designed by the geothermal consulting company (jointly co-financed by Global Environment Facility (GEF), International Development Association (IDA) and OPEC Fund for International Development (OFID); (iii) steel material needed during the execution of the drilling program; (financed by French Development Agency (AFD); and (iv) for the inspection and testing of reservoir flow rates (financed by Energy Sector Management Assistance Program (ESMAP). The second component is technical assistance for the drilling program. This component comprises the provision of goods and consultants' services to: (i) design the drilling program and well test protocol; (ii) execute the well test protocol and ensure third party certification of the results of the drilling program; and (iii) preparation of a technical feasibility study for the geothermal power plant provided that the geothermal resource is suitable for power generation. The third component is project management. This component involves the provision of goods, consultants' services, including audit and training, and operational costs for the purposes of project management and implementation, including monitoring and evaluation. It will be jointly co-financed by Government of Djibouti (GoDj) and AfDB.
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This report contains the World Bank Group Boards' calendar for the period April to June 2014, specifying the Boards' engagements, such as meetings and briefings.
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This is a statement by Angel Gurría, Secretary-General, OECD, and Erik Solheim, Chair of the Development Assistance Committee (DAC), at the eighty-ninth meeting of the Development Committee held on April 12, 2014.
... Подробнее + The international community is set to transition into a critical new phase in its fight against poverty. A number of key issues must be addressed if it is to be successful: disparities between countries must be reduced, as well as a range of inequalities within them. Providers of development co-operation must maintain their commitments on the quantity and quality of the resources they provide, and they must help developing countries mobilise more domestic resources. The OECD is uniquely placed and equipped to support these and other efforts with a number of adapted tools.
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This is a statement by Dr. Ahmad Mohamed Ali, President of the Islamic Development Bank Group (IsDB) at the eighty-ninth meeting of the Development Committee held on April 12, 2014.
... Подробнее + He discusses the global economy in the post-crisis era, the economic prospects of IsDB member countries, and IsDB Group reponses. Major thematic areas supported by the IsDB Group are the following: fostering inclusive development, supporting agriculture development and food security, addressing youth unemployment, enhancing infrastructure development, Strengthening Economic Cooperation and Integration, and fostering Islamic finance. IsDB Group major initiatives include capital increase, resource mobilization, member country partnership strategy, reverse linkages, trade-related development assistance, Secretariat of the G-8 Deauville Partnership IFI coordination platform, MDGs and post-2015 development agenda, and celebrating 40th anniversary.
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This is a statement by Mr. Guy Ryder, Director-General, International Labour Organization, at the eighty-ninth meeting of the Development Committee held on April 12, 2014.
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This is a statement by Mr. Mitsuhiro Furusawa, Vice Minister of Finance, International Affairs at the eighty-ninth meeting of the Development Committee held on April 12, 2014.
... Подробнее + He emphasises on: the International Development Association's( IDA's) role of providing valuable development expertise, as well as on the effect that loan programs from IDA to its client countries urge to pursue sound and responsible macro-economic policy that enables to pay back debts in a timely manner; and Japan's emphasis on support for infrastructure development, the formulation of development policies, and technical assistance for human resource development. He also traces Japan's emphasis on assistance in disaster risk management, global environmental issues, and healthcare, as it pays attention to factors that can impede inclusive and sustainable growth.
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This is a statement by Mr. Guido Mantega, Minister of Finance, Brazil on behalf of Brazil, Colombia, Dominican Republic, Ecuador, Haiti, Panama, Philippines, Suriname and Trinidad and Tobago at the eighty-ninth meeting of the Development Committee held on April 12, 2014.
... Подробнее + The World Bank Group (WBG) support and urge to continue to be the multilateral platform for all regions in their paths of inclusive development. In this sense, the Brazilian-World Bank partnership through the creation of a knowledge hub in Brazil is serving as an important facilitating platform for knowledge sharing. The new country partnership framework (CPF) should continue to be a document establishing guidelines for the engagement of the WBG and client countries.
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This is a statement by Mr. Alberto Arenas, Minister of Finance at the eighty-ninth meeting of the Development Committee held on April 12, 2014.
... Подробнее + He states that the developing countries are facing new challenges to secure World Bank Group (WBG) twin goals: to end extreme poverty and promote shared prosperity. The developed world has shown signs of recovery reflected, for example, by improvements in economic growth and business confidence, and reduction in unemployment rates.
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This is a statement by H.E. Ibrahim Al-Assaf, Minister of Finance, Saudi Arabia, at the eighty-ninth meeting of the Development Committee held on April 12, 2014.
... Подробнее + The meeting is particularly significant from four perspectives. First, it is taking place when the global economy has begun adjusting to the new normal in the post-crisis world, bracing for growth that is forecast to be slower than the pre-crisis trends, and where there are uncertainties about the pace and consequences of fiscal and monetary policy adjustment in advanced economies. Second, the ongoing intergovernmental discussions at the UN on the post-2015 development agenda have reached an important juncture where clarity has begun to emerge on the development challenges and directions for the future, including the role of the Bank in both contributing its views to the new agenda as well as the role it may need to play as the world's premier development institution in helping countries pursue that agenda. Third, the World Bank Group (WBG) has entered a critical stage in the change process initiated by the President. And finally, while there has been encouraging progress on global climate and trade negotiations at the UNFCCC and WTO, agreements around the most difficult issues are yet to be reached.
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Myanmar is an agricultural country. It is estimated that the agriculture sector represents between 35 to 40 percent of gross domestic product (GDP) and that up to 70 percent of the labor force (of 32.5 million) is directly or indirectly engaged in agricultural activities or depend on agriculture for their income.
... Подробнее + Given agriculture's important contribution to the economy, the modernization of the agriculture sector is a top priority in the economic and social development agenda of the Government of Myanmar. Among the government institutions supporting the agriculture sector, the Myanmar Agriculture Development Bank (MADB) plays an important role. MADB was established in June 1953 by the Government of Myanmar to support the development of agriculture, livestock, and rural enterprises in Myanmar. MADB is currently the largest financial institution serving the rural areas and financing agriculture activities. At the end of 2012, MADB served 1.87 million customers, mostly farmers, and had a network of 206 branches (which accounted for 23 percent of all banks' branches in Myanmar). Since its creation, MADB has played an important economic and social role by providing loans to a large segment of low-income households engaged in agricultural activities. Historically, several agriculture banks around the world have failed due to poor corporate governance, inadequate risk management capability, unsustainable business models, capture by their own clientele, or undue political interference in their lending decisions. Therefore, authorities should ensure that MADB is transformed into a sound, well-administered, and financially sustainable institution, able to withstand undue political interference and able to operate with the highest standards of corporate governance and transparency. In this context, the report is organized as follows: chapter one gives diagnostic of MADB; chapter two presents options for the transformation of MADB; chapter three presents lessons from international experience; and chapter four gives conclusions.
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The objectives of the Social Safety Net Project for Senegal are to support the establishment of building blocks for the social safety net system and to provide targeted cash transfers to poor and vulnerable households.
... Подробнее + The project has two components. (1) Support to the development of the social safety net system component will support the government in the development of the social safety net system, as part of a national social protection framework. This component will support (i) the development of core instruments and procedures that will form the backbone of a social safety net system, and (ii) the strengthening of the institutional capacity of the Social Protection Delegation (DGPSN) and sectoral actors of the social safety net system. (2) Support to the national targeted cash transfer program for poor and vulnerable households component will support the expansion and strengthening of the National Cash Transfer Program (PNBSF). This component will finance: (i) monetary transfers to PNBSF beneficiary households; (ii) accompanying measures put in place by the DGPSN, sectoral actors and local institutions; and (iii) selected program management and evaluation costs.
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The objective of the Multi Donor Trust Fund (MDTF) Khyber-Pakhtunkhwa (KP) Emergency Roads Recovery Project for Pakistan is to enable the population along the project corridor to benefit from year round improved access and mobility through reconstruction of priority damaged roads and bridges in the conflict hit areas.
... Подробнее + Negative impacts include: loss of water, air quality, dust, air pollution, waste management, noise pollution, and loss of ecology. Mitigation measures include: the contractor will restore the area under his temporary use by cropping or if so required through plantation. Photographs taken at the time of establishment of these facilities will be used for this purpose; the contractor will procure water from a source approved by the RE, and if relevant, after obtaining the community consent. It will be ensured that this procurement of water does not negatively affect the communities or other water users. The Grievance Redressal Mechanism (GRM) will also be put in place; it will be ensured that the drinking water sources of the communities are not affected. The contractor will repair, replace, compensate for any damages caused by the construction activities; and cutting and burning trees and shrubs for fuel will be prohibited. Instead gas cylinders should be used in the labor camp for cooking purposes. Similarly waste burning will not be allowed. The contractor will prepare waste management plan and have it approved by the RE. The proper training will be delivered to the workers.
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Оценка состояния окружающей среды E4526 APR 02, 2014
This paper discusses the constraints for private equity financing of small and medium enterprises in developing economies. In addition to capital, private equity investors bring knowledge and expertise to the companies in which they invest.
... Подробнее + Through active participation on the board of directors or in partnership with management, private equity investors equip companies with critical improvements in governance, financial accounting, access to markets, technology, and other drivers of business success. Although private equity investors could help to create, deepen, and expand growth of small and medium enterprises in developing economies, the vast majority of private equity in such markets targets larger or more established enterprises. Technical assistance, when partnered with private equity, can unlock more investor commitments and considerably enhance the ability of small and medium enterprises in emerging markets to raise private equity capital. Technical assistance provides funding that allows private equity funds to extend their reach to smaller companies. Technical assistance can mitigate some level of risk and increase the probability of successful investments by funding targeted operational improvements of investee companies. Dedicated technical assistance facilities financed by third parties, such as development finance institutions, governments, or other parties, have emerged to fill this critical need. The paper discusses the provision of investment capital twinned with technical assistance, which is now more accepted by limited partners and general partners or fund managers and is becoming more of a market model for private equity finance focused on small and medium enterprises.
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Рабочий документ в рамках исследования вопросов политики WPS6827 APR 01, 2014
Divakaran, Shanthi; McGinnis, Patrick J.; Shariff, Masood
In the aftermath of the recent global financial crisis, advanced economies have continued to experience sluggish growth. Is this slow post crisis growth the result of a policy response that was overly reliant on monetary policy, which ran into the zero interest rate lower bound before growth, was restored?
... Подробнее + Looking deeper, is secular stagnation, which is related to the zero lower bound and was recently brought to the fore by Larry Summers, another potential cause for advanced economies' failure to return to pre-crisis growth levels? This note seeks to answer these questions as well as identify what alternative policies may be pursued by advanced economies to escape secular stagnation, should stagnation proponents be proven correct. After a brief review of secular stagnation, Summers' hypothesis is tested through a review of academic literature and opinion pieces. However, the secular stagnation theory is not without its critics; moreover, there is a debate between "Keynesian versus Schumpeterian" economists, which can help to shed light on the medium-term post crisis outlook.
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Bangladesh moved closer to achieving the sixth five year plan target of reducing extreme poverty to 22.5 percent by 2015 as it sustained healthy gross domestic product (GDP) growth and moderate single digit inflation in FY2014.
... Подробнее + However, growth this year slowed relative to last year with declining remittances and losses due to political turmoil. Sound macroeconomic management kept inflation in check, although it increased somewhat due to the one-off effects of supply disruptions and wage increases. Official foreign exchange reserves increased to an adequate level as Bangladesh Bank intervened to keep the exchange rate stable. Weak demand for credit reduced interest rates. Monetary policy remained prudent while fiscal management challenged by shortfall in tax revenue, demand for support from sectors adversely affected by the political turmoil, and under-utilization of development budget. The fund's extended credit facility (ECF) is on track. Immediate challenges are to boost investments in power and roads; manage the transition in readymade garments; and stem the decline in remittances.
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Cambodia's economy has withstood domestic pressures and managed to sustain its high growth driven by its usual engines of growth. The external sector improved as a result of slower imports due to dampened domestic demand.
... Подробнее + The post-election adverse effects slowed down the demand for imports, while export growth advanced. Inflation rose to 4.7 percent year-on-year at the end of 2013, up from 2.5 percent at the end of 2012. Inflation is projected to remain in mid-single-digits over the short term. Financial deepening continues but the gap between credit and deposit growth rates has widened, reducing bank liquidity. Government revenue growth has moderated, resulting in an increase in the fiscal deficit. The latest joint World Bank and International Monetary Fund (IMF) debt-sustainability analysis (DSA) conducted in 2013 shows that Cambodia's debt-distress rating remains low, with all debt-burden indicators projected to be below respective thresholds. The prospects for sustaining high growth appear favorable, and real growth for 2014 is projected to reach 7.2 percent, given expectations of renewed confidence and political stability, underpinned by the strengthening of the economic recovery in developed economies. Appropriately managing domestic pressures in order to gain from the improved global economic environment will help maintain macroeconomic stability. Enhancing regional integration will also enable Cambodia to benefit more from the growth dynamics throughout the Association of Southeast Asian Nations (ASEAN) region. While Cambodia does have some fiscal space to increase wages, a cautious and careful approach to pay raise may work best.
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