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Publication(World Bank, Washington, DC, 2020-06-24) World BankGlobal evidence suggests better infrastructure governance results in more efficient spending and better growth outcomes at the national and subnational levels of government. Several studies (International Monetary Fund (IMF), 2015; OECD, 2015; World Bank 2014; OECD, 2013a) demonstrate that improvements in infrastructure governance can lead to substantial efficiency enhancements and enhanced infrastructure productivity over the life of the asset. Conversely, poor governance is a major reason why infrastructure projects fail to meet their timeframe, budget, and service delivery objectives. This report assesses the governance of the infrastructure sectors in Panama. Building on a dedicated infrastructure governance framework (see Section II), the report looks at the sector specific arrangements in electricity and water as well as the cross-cutting framework for infrastructure planning, procurement and delivery including for PPPs. The main recommendations of the report are presented in Section I below. Aimed at addressing Panama’s infrastructure governance bottlenecks, the recommendations specify the suggested timeline and priority.
Improving Transparency and Accountability in Public-Private Partnerships: Disclosure Diagnostic Report - Honduras(World Bank, Washington, DC, 2018) World BankA joint Government of Honduras and World Bank team conducted a study in Honduras between January and June 2017, using the Public-Private Partnership (PPP) Disclosure Diagnostic template recommended by the World Bank Framework for Disclosure of Information in PPPs. This study has been consolidated in the form of a PPP Disclosure Diagnostic Report for Honduras. The Diagnostic Report examines the political, legal, and institutional environment for disclosure in PPPs. Based on a gap assessment exercise with key political, legal, institutional, and process findings benchmarked against the World Bank Framework, the Diagnostic Report makes specific recommendations to improve disclosure. The recommendations include a customized framework for disclosure of PPPs in Honduras.
Publication(Washington, DC, 2004-01-26) World BankIn this report, the components of a national retirement security system are categorized - as "pillars", or as "tiers" according to their objective. This is in marked contrast to other publications that categorize the branches of a pension system in accordance with who administers them (the public or private sector); how are benefits structured (final-salary defined benefit formula, or defined contributions); or, their financing mechanism (pay-as-you-go, or full funding). Thus, the term "first pillar" or "pillar one" refers to that part of a pension system intended to keep elderly out of poverty; "second pillar" or "pillar two" to that part intended to help individuals smooth consumption over their life-cycle, i.e., to prevent a dramatic fall in income at retirement time; and, "third pillar" or "pillar three" to the instruments, and institutions available on a voluntary basis for workers to increase their income in old age. This report intends to explore, and present policy options to extend formal protection against old age poverty risks, at a fiscally sustainable cost, and aims as well at restoring the multiple pillars of formal old age income security. The report reviews the current pillars of Peru's retirement security system, grown weak, and by and large, has failed to diversify the risks to old-age income. The public branch of the "second pillar" still threatens the Government's fiscal stance, and constrains management of the economy. The private branch is costly, risky and administered by a private oligopoly. The "third pillar" of voluntary savings, and insurance instruments is weak, costly, lacks transparency and fails to complement benefits from the mandatory pillars. The report takes a comprehensive approach in its analysis of Peru's retirement security institutions, and, is divided into five sections. Following this introduction, Section II presents the dimensions of Peru's vulnerability to poverty in old age, by examining the nature of the risks to income from ageing in Peru. The section continues with a look at how well Government administered and/or mandated pension plans are covering these risks. Section III provides the institutional background, reviews reforms to formal social security institutions in the 1990's, and the progress achieved, and, examines the serious problems remaining. Section lV presents an analysis of proposals for reforms to each branch of the retirement security system, while Section V concludes by presenting policy options - some straight forward measures, while others, deeper, more controversial reforms - consistent with meeting the stated objective of extending protection against poverty in old age, in a fiscally, sustainable manner.