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Regional Poverty and Inequality Update Latin America and the Caribbean: October 2024
(Washington, DC: World Bank, 2024-12-20) World Bank
This brief summarizes the main trends related to poverty and inequality in Latin America and the Caribbean (LAC) using the latest round of harmonized household surveys from the Socio-Economic Database for Latin America and the Caribbean (SEDLAC) created by the World Bank and the Centro de Estudios Distributivos, Laborales y Social (CEDLAS). This brief was produced by the Poverty and Equity Global Practice in the Latin America and Caribbean Region of the World Bank.
International Centre for Settlement of Investment Disputes (ICSID) 2024 Annual Report
(Washington, DC: World Bank, 2024-11-05) International Centre for Settlement of Investment Disputes
The International Centre for Settlement of Investment Disputes (ICSID) has evolved significantly over the past fifteen years. Demand for ICSID’s services has grown in concert with an increase in foreign investment and an expanding network of international investment agreements. By leveraging new technologies and modernizing procedural rules, ICSID has ensured world-class quality and efficiency in its case administration services. The sustained growth in membership has been a testament to the value States place in ICSID as the only global institution dedicated to international investment dispute settlement. The 2024 fiscal year (FY2024) saw strong demand for ICSID’s services, with the second-highest number of registered and administered cases in ICSID’s history. Also notable over the fiscal year was the sustained progress in enhancing the diversity of arbitrators, conciliators, and ad hoc committee members appointed to ICSID cases. This includes: a record 49 nationalities were represented amongst the appointments made in FY2024; 29 percent of all appointments involved women; 50 percent percent of first-time appointees involved nationals of low- or middle-income economies. Additional highlights in FY2024 include a record number of concluded proceedings, as ICSID continues to work with tribunals and parties to reduce the time of cases. Also, for the first time, a Regional Economic Integration Organization - the European Union was a party to an ICSID proceeding.
Remarks by World Bank Group President Ajay Banga at the 2024 Annual Meetings Plenary
(Washington, DC: World Bank, 2024-10-28) Banga, Ajay
In his speech at the 2024 Annual Meetings Plenary, World Bank Group President Ajay Banga highlighted the organization's achievements over its 80-year history and outlined its future direction. He emphasized the dual focus on reconstruction and development, reflecting on the World Bank's origins and its evolving role in addressing global challenges such as poverty, climate change, conflict, and pandemics. Banga discussed the need for the World Bank to be faster, simpler, and more impact-oriented. He noted improvements in project approval times, streamlined processes, and enhanced collaboration with other multilateral development banks. He also highlighted the importance of measurable outcomes and increased lending capacity to maximize the institution's impact.
Investment Framework for Nutrition 2024
(Washington, DC: World Bank, 2024-09-23) Shekar, Meera; Shibata Okamura, Kyoko; Vilar-Compte, Mireya; Dell’Aira, Chiara
In 2017, the Investment Framework for Nutrition set the stage for transformative nutrition investments, culminating in strong donor and country commitments at the 2021 Tokyo Nutrition for Growth (N4G) Summit. Now—with only six years left until the Sustainable Development Goals (SDGs) end date of 2030—the world is facing polycrises, including food and nutrition insecurity; climate shocks; fiscal constraints; and rising rates of overweight, obesity, and noncommunicable diseases in low- and middle-income countries. Despite a 44 percent decline in child stunting between 1990 and 2022, global progress is insufficient, as increasing anemia rates among women of reproductive age as well as stagnating rates of child stunting, wasting, low birthweight, and rising obesity among children and adults persist. Nutrition is a marker of human capital, and both obesity and undernutrition are key contributors to the Human Capital Index. As we approach the 2025 Paris N4G, investing to address global nutrition challenges has become more critical than ever. Investment Framework for Nutrition 2024 broadens the focus of the 2017 Investment Framework for Nutrition to include low birthweight and obesity, and it adds policy considerations, operational guidance for country-level implementation, and gender and climate change perspectives. Financially, an additional $13 billion is needed annually to scale up a discrete set of evidence-based nutrition interventions to 90 percent coverage ($13 per pregnant woman and $17 per child under age five per annum), with the largest needs in South Asia (34 percent of total global needs) and Sub-Saharan Africa (26 percent of total needs). These investments need to be complemented with a strategically designed package of policies to influence consumer preferences by modifying the social and commercial determinants of health and dietary behaviors. The economic benefits of scaling up nutrition investments far outweigh the costs and offer substantial returns on investment. Innovative financing mechanisms—including responsible private sector engagement and climate funds, together with measures to enhance the efficiency of the existing financing—are vital to bridge the funding gap. A global effort is essential now to renew financial commitments, explore new funding avenues, and drive nutrition-positive investments—with the ultimate goal of enhancing health, human capital, economic growth, and sustainability.
Recipe for a Livable Planet: Achieving Net Zero Emissions in the Agrifood System
(Washington, DC: World Bank, 2024-09-20) Sutton, William R.; Lotsch, Alexander; Prasann, Ashesh
The global agrifood system has been largely overlooked in the fight against climate change. Yet, greenhouse gas emissions from the agrifood system are so big that they alone could cause the world to miss the goal of keeping global average temperatures from rising above 1.5 centigrade compared to preindustrial levels. Greenhouse gas emissions from agrifood must be cut to net zero by 2050 to achieve this goal. Recipe for a Livable Planet: Achieving Net Zero Emissions in the Agrifood System offers the first comprehensive global strategic framework to mitigate the agrifood system’s contributions to climate change, detailing affordable and readily available measures that can cut nearly a third of the world’s planet heating emissions while ensuring global food security. These actions, which are urgently needed, offer three additional benefits: improving food supply reliability, strengthening the global food system’s resilience to climate change, and safeguarding vulnerable populations. This practical guide outlines global actions and specific steps that countries at all income levels can take starting now, focusing on six key areas: investments, incentives, information, innovation, institutions, and inclusion. Calling for collaboration among governments, businesses, citizens, and international organizations, it maps a pathway to making agrifood a significant contributor to addressing climate change and healing the planet.
The Healthy Longevity Initiative: Key Insights for Policy and Action
(Washington, DC: World Bank, 2024-09-12) Altuwaijri, Sameera; Jha, Prabhat; Alleyne, George; Isenman, Paul; Saadat, Seemeen; Garcia, Gisela; Veillard, Jeremy
The global demographic landscape is at a crossroads, with rapid declines in fertility and aging populations holding profound implications for employment, social services, and wellbeing. Population aging has accelerated the rise of non-communicable diseases (NCDs) as the leading cause of global deaths and are expected to contribute to ninety percent of all deaths by 2040. This has implications for health systems (NCD-related hospitalization) and long-term care as well as for labor markets and social protection systems. There is a need for whole of society approaches and solutions that address equity gaps especially due to poverty and gender inequality, which further exacerbate the challenges. The Healthy Longevity Initiative (HLI) spotlights key high impact interventions in health and social sectors that countries can adapt to address the challenge of changing demographics and growing NCDs. While this requires greater financial outlays, the benefits far outweigh the costs with the potential of saving 150 million lives cumulatively by 2050 in low- and middle-income countries (LMICs) alone. Mobilizing support to move from knowledge to action is needed to realize the astounding human and economic benefits of addressing one of the major challenges of the 21st century.
Research for Innovation in Health Systems - Improving the Management of Health Care Services for Patients with Multiple Chronic Conditions in Three Latin American Countries: Brazil, Colombia and Uruguay - Key Messages
(Washington, DC: World Bank, 2024-06-24) World Bank
The accelerated aging of the Brazilian population, alongside the gradual increase in the concomitant occurrence of multiple chronic diseases in the same individual, brings important challenges to the Brazilian National Health System (SUS). n Colombia, during 2012 - 2016, multimorbidity had a prevalence of 19.5 percent for all ages, according to data from the study carried out by the World Bank and the Ministry of Health and Social Protection. The investigation also showed an increase in the use and cost of health services associated with older age and the complexity of multimorbidity, in an aging population that shifts its epidemiological profile towards chronic diseases. The expenditure with patients with multimorbidity in Uruguay is high. Persons with five or more of diseases (Cardiovascular Disease, High Blood Pressure, Diabetes, Chronic Obstructive Pulmonary Disease and Degenerative Neurological Disease) represent 8.44 percent of the total patient population, but their care accounts for 42.07 percent of the total expenditure, and 50.48 percent of the expenditure on medications.
Proposal to Optimize the Care Model for People with Chronic Diseases and Multimorbidity in Uruguay
(Washington, DC: World Bank, 2024-06-20) World Bank
The importance of Chronic Disease (CD) in Uruguay has been widely analyzed for many years and in multiple studies and reports 1, 2, 3. Its impact on mortality and its high cost of care was decisive in creating various health promotion and primary and secondary prevention strategies, whose impact has begun to be perceived in the change in trends in some specific areas, such as cardiovascular diseases. However, beyond measures to include specific programs and benefits for CD care and general organization guidelines for health services to satisfy the spontaneous demand generated by CD, there have not been many review initiatives of the care models for CD, especially about the multimorbidity problem, except for the development by the Ministry of Public Health (MPH) of the “Guide to Frailty in Older Adults: Practical Criteria and Research Instruments in The First Level of Care”, an aspect of great clinical relevance about both CD and multimorbidity for human resources and providers of the National Integrated Health System (NIHS). This document presents the work carried out in Uruguay, which culminates with the proposal of the Comprehensive Model of Care for Multimorbidity and includes the study’s results. As such, the authors present the general and specific objectives, the methodology for each of the proposed phases, the results and main contributions to the country and the region, and finally, future projections or possibilities.
Equatorial Guinea Digital Economy Diagnostic
(Washington, DC: World Bank, 2024-05-22) World Bank
This report provides an assessment of Equatorial Guinea’s digital economy, as part of the World Bank’s Digital Economy for Africa (DE4A) initiative. Prepared to support the implementation of the Digital Transformation Strategy for Africa, approved by the African Union in February 2020, the World Bank’s DE4A Initiative aims to help drive Africa’s digital transformation and sets out a bold vision to ensure that every African individual, business and government is digitally enabled by 2030. The initiative leverages an integrated and foundation-based diagnostic framework to examine the development of the digital economy across Africa. Based on this framework, this assessment provides a comprehensive overview of the five DE4A foundational elements in Equatorial Guinea: digital infrastructure, digital public platforms, digital financial services, digital businesses and digital skills.
Unleashing Adaptive Potential for Social Protection: Good Adaptive Social Protection Practices in Latin America and the Caribbean
(Washington, DC: World Bank, 2024-05-08) Tisei, Francesco; Ed, Malin
The report is structured around four chapters and begins by offering a comprehensive overview of the region's climate and disaster risk profile in Chapter 1. This is followed by chapter 2 which provides a snapshot of the status of social protection systems in the region. Chapter 3 conducts a detailed analysis of the World Bank's stress test assessments in the LAC region, showcasing good practices and overarching weaknesses categorized according to the building blocks of the Adaptive Social Protection (ASP) framework. Building on the assessment findings, chapter 3 also provides a set of transnational emerging recommendations geared towards the advancement of the ASP agenda in LAC. Chapter 4 takes a forward-looking approach, exploring the World Bank's role in contributing to making social protection systems in the region more adaptive. This chapter also touches upon crucial issues within the region, including migration and the high levels of informality, thereby providing a broader perspective on the challenges and opportunities surrounding the advancement of this crucial agenda in the LAC countries.