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  • Publication
    Jordan Economic Monitor, Fall 2015: A Hiccup Amidst Sustained Resilience and Committed Reforms
    (World Bank, Washington, DC, 2015-10-01) World Bank
    The Jordan economic monitor provides an update on key economic developments and policies over the past six months. It also presents findings from recent World Bank work on Jordan. It places them in a longer-term and global context, and assesses the implications of these developments and other changes in policy for the outlook for the country. Its coverage ranges from the macro-economy to financial markets to indicators of human welfare and development. It is intended for a wide audience, including policy makers, business leaders, financial market participants, and the community of analysts and professionals engaged in Jordan.
  • Publication
    Financial Inclusion in Tunisia: Low-Income Households and Micro-Enterprises Snapshot
    (World Bank, Washington, DC, 2015-09) Chehade, Nadine
    This snapshot provides an overview of financial inclusion trends and challenges in Tunisia. It follows the recent expiration of the Coordinated Vision for the Development of Microfinance in Tunisia 2011-2014, national strategy published in 2011.
  • Publication
    The Unfulfilled Promise of Oil and Growth : Poverty, Inclusion and Welfare in Iraq 2007-2012
    (Washington, DC, 2014-12-01) World Bank
    Iraq appears to have firmly entered the ranks of upper middle-income countries in 2012, having experienced strong economic growth following the establishment of a civilian elected government in 2005-06. In 2012 the years of growth culminated in a per capita GDP of 2472 constant 2005 US$. This three-volume poverty and inclusion assessment provides the first in-depth analysis of Iraq's economic and social development during the period of 2007 to 2012. Volume 1 is an overview of the economic climate in Iraq, providing brushstroke descriptions of its poverty reduction plans, labor markets, public health data, and education focal points. Volume 2 is a nine-chapter report on the years between 2007 and 2012, a period of relative stability in Iraq. 2007 marks the end of sectarian violence, which lasted until 2012, prior to the militancy and insurgency in the northern governorates of the summer of 2014. The country has been a nexus of conflict and fragility since the early 1980s, and has experienced multiple types of conflict: insurgency, international war, sectarian strife, persistent terrorism, regional fragmentation, and spillovers from conflict in other countries. What should have been a promising endowment of natural resources of land, oil and gas, as well of human capital, did not provide the foundation for poverty reduction and shared prosperity. The realization of potential was confounded by war and repression. A key priority of the Government of Iraq since 2005-06 has been to fill the huge knowledge gap in terms of a deeper understanding of the state of the economy and of a range of socioeconomic indicators of welfare with the objective of building a strong evidence base for effective policy making. The rich analyses presented in this report go well beyond counting the poor. It gives an incisive understanding of the multi-layered development challenges faced by the nation, which serves as a testament to the commitment of the Government of Iraq, the staff of the Central Statistics Office, and the Kurdistan Region Statistics Office. It will form the basis for a new strategy for Iraq's development and ensure broad-based welfare improvements for the population. Volume 3 consists of nine annexes and nine references in the forms of tables, boxes, and equations used in the methodologies.
  • Publication
    Climate-Smart Development : Adding Up the Benefits of Actions that Help Build Prosperity, End Poverty and Combat Climate Change
    (World Bank, Washington, DC and ClimateWorks Foundation, San Francisco, 2014-06-23) ClimateWorks Foundation; World Bank Group
    This report describes efforts by the ClimateWorks Foundation and the World Bank to quantify the multiple economic, social, and environmental benefits associated with policies and projects to reduce emissions in select sectors and regions. The report has three objectives: 1) to develop a holistic, adaptable framework to capture and measure the multiple benefits of reducing emissions of several pollutants; 2) to demonstrate how local and national policymakers, members of the international development community, and others can use this framework to design and analyze policies and projects; and 3) to contribute a compelling rationale for effectively combining climate action with sustainable development and green growth worldwide. By using a systems approach to analyze policies and projects, this work illustrates ways to capitalize on synergies between efforts to reduce emissions and spur development, minimize costs, and maximize societal benefits. This report uses several case studies to demonstrate how to apply the analytical framework. Three simulated case studies analyzed the effects of key sector policies to determine the benefits realized in the United States, China, the European Union, India, Mexico, and Brazil. The sector policies include regulations, taxes, and incentives to stimulate a shift to clean transport, improved industrial energy efficiency, and more energy efficient buildings and appliances. Also presented are results of four simulated case studies that analyzed several sub-national development projects, scaled up to the national level, to determine the additional benefits over the life of each project, generally 20 years. By applying the framework to analyze both types of interventions, this report demonstrates the efficacy of this approach for national and local policymakers, international finance organizations, and others. These case studies show that climate change mitigation and air quality protection can be integral to effective development efforts and can provide a net economic benefit. Quantifying the benefits of climate action can facilitate support from constituencies interested in public health and food and energy security; it can also advance the international discussion of effective ways to address climate change while pursuing green growth. In this report, the chapter 1 provides background information on the pollutants covered in this report and identifies opportunities to achieve both local socioeconomic and global climate objectives by reducing emissions. It also introduces new modeling tools that enable broader economic analysis of emissions-reduction programs. Chapter 2 explains how these tools can be combined to develop an effective framework to analyze policies and projects. Chapter 3 demonstrates the framework, using several policy- and project-based case studies to estimate the multiple benefits of emissions reductions from a regional or national level. Finally, Chapter 4 explores the challenges to operationalizing the framework and presents conclusions from the study.
  • Publication
    Harnessing the Global Recovery, A Tough Road Ahead
    (Washington, DC, 2014-04) World Bank
    Many countries in Middle East and North Africa (MENA) will start to benefit from stronger external demand in the high-income economies, as the global economy is set for a rebound in 2014. After a marked slowdown in 2013, a recovery in high income economies is expected to boost global growth to 3.2 percent in 2014, an increase by 0.8 percentage points compared to 2013. Global output is expected to improve further in 2015 with real gross domestic product (GDP) accelerating to 3.4 percent in 2015. The World Bank estimates that growth in the United States (U.S.) will increase by 1 percentage point reaching 2.8 percent in 2014 and 2.9 percent in 2015; and the Euro Zone will improve to 1.1 percent and accelerate to 1.4 percent in 2014 and 2015 respectively, relative to negative 0.4 percent growth in 2013. The growth rebound in the Euro Zone is largely export led, with Germany and France continuing to expand at a solid pace, and Spain exiting recession. The world travel and tourism council estimates show that tourism revenues will increase by 7 percent in the MENA region in 2015 relative to 2014. To be sure, the global recovery is still fragile and downside risks, including continued low inflation in high-income economies, which can weaken demand and delay the economic recovery, and the escalation of conflict in Ukraine remain. This report presents the short-term, regional macroeconomic outlook, and economic challenges facing the countries in the MENA region. In this report, the MENA region is divided into three subgroups: the Gulf Cooperation Council (GCC) oil exporters, developing oil exporters, and oil importers.
  • Publication
    West Bank and Gaza Investment Climate Assessment : Fragmentation and Uncertainty
    (Washington, DC, 2014-01) World Bank Group
    This Investment Climate Assessment (ICA) seeks to evaluate the conditions under which the Palestinian private sector currently operates in the West Bank (including East Jerusalem) and the Gaza strip. This assessment is both an update and expansion on a similar assessment undertaken by the World Bank in 2006. As such, it provides both a snapshot of the investment climate in 2013, as well as a longitudinal view of what has changed in the intervening seven years and, just as importantly, what has not. Where relevant, it also compares indicators of the Palestinian investment climate with those of other countries in the region and beyond. The objective of this assessment is to provide the Palestinian business community, the Palestinian Authority (PA), and the international development community with an empirical analysis of the investment climate under which Palestinian businesses operate. The report describes the key constraints on business and investment and identifies reform priorities for those aspects of the investment climate and constraints which are within the PA's control, as well as some policy recommendations for areas outside of the PA's control, but within the domain of development partner assistance agendas and/or Israeli policies. This analysis is intended to inform Palestinian policy-maker actions to improve the business environment. It can also help inform the actions of other concerned parties, including the international development community, regional actors, and the Government of Israel regarding policies that affect Palestinian economic growth and sustainability.
  • Publication
    Guidance for the Directors of Banks
    (International Finance Corporation, Washington, DC, 2013-08-09) Westlake, Richard
    The need for sound governance of banks worldwide has never been stronger. After the global financial crisis of 2007-2009, spectacular bank failures, whether caused by greed, incompetence, or indifference, are still occurring. This guide is intended mainly for three groups of readers: (i) new directors with experience in banking; (ii) directors who understand governance, but have no experience in banking; and (iii) new directors who have no experience of either banking or being a director. It is mainly an introduction for the directors of non-complex banks, whose main business is to take deposits and provide loans, and is not designed for the directors of large, complex banks or investment banks operating in global capital markets and dealing with complex corporate structures. We hope, however, that even relatively experienced directors of banks, and those who work with them, may find the book a useful refresher. Main topics discussed in the Guidance are: 1) where banks fit in the corporate governance framework; 2) the unique role of banks governing risk; 3) Board structures and directors' duties; and 4) effective Board decision making. Since the late Jonathan Charkham CBE wrote the first edition of this Guidance book in 2003, the world has changed dramatically. During the crisis, many household-name banks merged or disappeared. Now there is stronger supervision of banks and greater expectations of Boards, so directors need to be knowledgeable about and engaged with their bank to provide direction and hold bank management to account.
  • Publication
    Fiscal Crisis, Economic Prospects: The Imperative for Economic Cohesion in the Palestinian Territories, Economic Monitoring Report to the Ad Hoc Liaison Committee
    (World Bank, Washington, DC, 2012-09-23) World Bank
    Economic growth in West Bank and Gaza (WB&G) slowed in the first quarter (Q1) of 2012. The real growth rate is estimated to have reached 5.6 percent, more than three percentage points lower than the Q1 2011 growth figure and almost one percent lower than the growth forecast contained in the Palestinian Authority's (PA's) budget. This decline is attributed to a major slowdown in Gaza, where real growth decreased from 21.3 percent to 6 percent on a year-on-year basis. The slowdown in Gaza during Q1 of 2012 was mainly attributed to a major decline in the agriculture and fishing sector, which offset much of the growth witnessed in other sectors. This sector shrank by 43 percent in Q1 2012 due to frequent power outages resulting from the lack of fuel in Gaza. Nevertheless, other sectors in Gaza expanded and the highest growth levels were witnessed in the construction, and hotels and restaurants sectors. In the West Bank, growth in Q1 2012 was broadly unchanged from its 2011 level. Most of the growth was from an expansion of services, which contributed around 2.2 percentage points of the 5.4 percent total growth in Q1 2012. The recent slowdown in economic growth is also reflected in higher unemployment levels. Overall unemployment in WB&G was 20.9 percent in the second quarter of 2012 compared to 18.7 percent during the same period in 2011. A serious concern in WB&G is the high level of youth unemployment that is accompanied by low youth participation in the labor force.
  • Publication
    2012 Information and Communications for Development : Maximizing Mobile
    (Washington, DC: World Bank, 2012-08-15) World Bank
    With some 6 billion mobile subscriptions in use worldwide, around three-quarters of the world's inhabitants now have access to a mobile phone. Mobiles are arguably the most ubiquitous modern technology: in some developing countries, more people have access to a mobile phone than to a bank account, electricity, or even clean water. Mobile communications now offer major opportunities to advance human development from providing basic access to education or health information to making cash payments to stimulating citizen involvement in democratic processes. The developing world is 'more mobile' than the developed world. In the developed world, mobile communications have added value to legacy communication systems and have supplemented and expanded existing information flows. However, the developing world is following a different, 'mobile first' development trajectory. Many mobile innovations such as multi-SIM card phones, low-value recharges, and mobile payments have originated in poorer countries and are spreading from there. New mobile applications that are designed locally and rooted in the realities of the developing world will be much better suited to addressing development challenges than applications transplanted from elsewhere. In particular, locally developed applications can address developing-country concerns such as digital literacy and affordability. This 2012 edition of the World Bank's information and communications for development report analyzes the growth and evolution of mobile telephony, and the rise of data-based services delivered to handheld devices, including apps. The report explores the consequences for development of the emerging 'app economy.' It summarizes current thinking and seeks to inform the debate on the use of mobile phones for development. This report looks at key ecosystem-based applications in agriculture, health, financial services, employment, and government, with chapters devoted to each.
  • Publication
    Hashemite Kingdom of Jordan - Development Policy Review : Improving Institutions, Fiscal Policies and Structural Reforms for Greater Growth Resilience and Sustained Job Creation (Vol. 1 of 2)
    (Washington, DC, 2012-06) World Bank
    Jordan's quest for long-term, inclusive and sustainable growth has remained largely elusive. By the Growth and Development Commission's measure of success, namely, an average growth rate of 7 percent over 30 years, Jordan's growth record cannot be dubbed 'successful'. This Development Policy Review (DPR) shows that sustaining growth and reducing unemployment is possible: Jordan has a strong human capital base, a large endowment in engineers, doctors, accountants, Information Technology (IT) specialists and a substantial highly-skilled diaspora (500,000 educated Jordanians abroad, 8 percent of the population). Furthermore, the market-oriented reforms of the early 2000s have made Jordan one of the most open economies in the Middle East and North Africa Region and have led to the emergence of dynamic non-traditional sectors (e.g., information and communication technologies, health tourism and business services). What is missing are: (i) an adequate and stable institutional framework for policymaking and long-term business development; (ii) good fiscal policies to manage shocks and maintain macroeconomic stability; good institutions and macroeconomic stability were identified by the growth commission as two of the five common characteristics of successful growth experiences; and (iii) further growth-enhancing structural reforms.