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The World Bank Annual Report 2021: From Crisis to Green, Resilient, and Inclusive Recovery

(Washington, DC: World Bank, 2021-10-01) World Bank

The Annual Report is prepared by the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)--collectively known as the World Bank--in accordance with the by-laws of the two institutions. The President of the IBRD and IDA and the Chairman of the Board of Executive Directors submits the Report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors.
MIGA Annual Report 2021

(Washington, DC: Multilateral Investment Guarantee Agency, 2021-10-01) Multilateral Investment Guarantee Agency

In FY21, MIGA issued 5.2 billion US Dollars in new guarantees across 40 projects. These projects are expected to provide 784,000 people with new or improved electricity service, create over 14,000 jobs, generate over 362 million US Dollars in taxes for the host countries, and enable about 1.3 billion US Dollars in loans to businesses—critical as countries around the world work to keep their economies afloat. Of the 40 projects supported during FY21, 85 percent addressed at least one of the strategic priority areas, namely, IDA-eligible countries (lower-income), fragile and conflict affected situations (FCS), and climate finance. As of June 2021, MIGA has also issued 5.6 billion US Dollars of guarantees through our COVID-19 Response Program and anticipate an expansion to 10–12 billion US Dollars over the coming years, a testament to the countercyclical role that MIGA can play in mobilizing private investment in the face of the pandemic. A member of the World Bank Group, MIGA is committed to strong development impact and promoting projects that are economically, environmentally, and socially sustainable. MIGA helps investors mitigate the risks of restrictions on currency conversion and transfer, breach of contract by governments, expropriation, and war and civil disturbance, as well as offering credit enhancement on sovereign obligations.
Tokyo Start-Up Ecosystem

(World Bank, Washington, DC, 2021-09-01) Mulas, Victor ; Astudillo, Pablo ; Riku, Takashi ; Wyne, Jamil ; Zhang, Xin

This report analyzes the start-up ecosystem in Tokyo and the greater surrounding area in Japan in the transition of the innovation model to a hybrid of traditional public sector-university-corporation research and development (R and D) combined with start-up agile innovation. It first introduces the role of a start-up ecosystem in contributing to the development of global cities, and thus to the wider national economy. It then takes a country-level view of Japan’s innovation system, within which the metropolitan region operates, in the transition to the innovation-start-up ecosystem. This description is followed by an analysis of the specifics of the Tokyo start-up ecosystem - which consists of investment, support infrastructure, and skills infrastructure - factors that merit close inspection and deep analytics. And finally, the report ends with conclusions - what can be done better or differently to exploit opportunities within Tokyo - but also wider lessons for other global cities.
Building a Green, Resilient, and Inclusive Recovery

(Washington, DC: World Bank, 2021-03-29) Malpass, David

World Bank Group President David Malpass acknowledged the importance of the United Kingdom within the World Bank Group. He spoke about the Coronavirus (COVID-19) which descended on the poor like wildfire. He highlighted the Bank's approach to the interlinked crises of green, resilient, inclusive development (GRID). The World Bank is working to help countries build “Country Platforms” to engage with wider groups of development actors as they develop the programs with Bank support. He focused on three of the most pressing challenges of climate, debt, and inequality. There is a need for integrated, long-run strategies that emphasize green, resilient, and inclusive development. He concluded we can generate a recovery that ensures a broad and lasting rise in prosperity especially for the poorest and most marginalized.
World Bank Outlook 2050 Strategic Directions Note: Supporting Countries to Meet Long-Term Goals of Decarbonization

(World Bank, Washington, DC, 2020-06-24) Mukhi, Neha ; Rana, Suneira ; Mills-Knapp, Sara ; Gessesse, Eskedar

Outlook 2050 examines how the World Bank can help countries plan for and achieve long-term decarbonization: through country programs, technical assistance, lending, and knowledge products. It identifies key trends in technology, markets, financing instruments, and consumer priorities, and examines their implications for climate action, economic growth strategies and development. Supporting countries in a transition to long-term decarbonization requires the World Bank to not only look 3–5 years ahead, roughly equivalent to typical election cycles, but look decades ahead, and then work with our clients to determine the near- and mid-term implications. It will also mean supporting the implementation of economy-wide strategies as well as cross-sectoral initiatives, not only focusing on single-sector initiatives, such as individual energy or transportation projects. Coinciding with a need for a major, global economic recovery – triggered by the COVID-19 (coronavirus) pandemic – this ‘whole of economy' approach to deliver better growth and a better climate could provide the sustainable and resilient foundation for countries as they build – or rebuild – their economies. The Outlook 2050 approach prioritizes four economy-wide strategic directions: 1. Embed long-term climate priorities in country macroeconomic frameworks, to ensure that those frameworks, which guide fiscal policy and major national investments, properly account for climate risks and the benefits of ambitious climate action. 2. Embed long-term climate planning in national budgets and expenditure frameworks, to provide adequate budgetary support for climate action, optimize the overall allocation of public resources, and unlock private financial flows. 3. Embed long-term climate objectives in financial sector regulations and incentives, to ensure that the sector is resilient both to climate change impacts and to low-carbon transition risks, and to mobilize finance for climate action. 4. Embed long-term climate objectives in systems planning, to integrate climate with economic, social inclusion, and other objectives; assess cross-sectoral links and regional impacts; and identify trade-offs and synergies.
World Development Report 2020: Trading for Development in the Age of Global Value Chains

(Washington, DC: World Bank, 2020) World Bank

Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. This book examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
Remarks from World Bank Group President David Malpass at the G20 Leaders Summit

(World Bank, Washington, DC, 2019-06-29) Malpass, David

These remarks were delivered by David Malpass, President of the World Bank Group, at the G20 Leaders Summit held in Osaka, Japan. He spoke about how giving women better access to economic opportunities is critical to eliminate differences in living standards between men and women. He highlighted We-Fi which is so important and how the Bank was proud to celebrate its two-year anniversary in Osaka. He spoke about the developing countries and the Bank's role in actively identifying changes in the private sector environment that will attract investment and enable higher living standards and better lives. He explained the Bank's work in fragile states, such as the Sahel and the Horn of Africa, to help countries build stronger foundations so that young people are more able to stay rather than seeking to immigrate. He discussed reducing inequality and realizing inclusive and sustainable growth around the world, and how addressing these requires jobs, education, healthcare, attention to the environment, and robust commerce and trade among neighbors and nations. He concluded by saying that the Bank would continue to work with all the nations on these challenges.
High-Performance Health Financing for Universal Health Coverage: Driving Sustainable, Inclusive Growth in the 21st Century

(World Bank, Washington, DC, 2019-06-27) World Bank Group

The majority of developing countries will fail to achieve their targets for Universal Health Coverage (UHC) and the health- and poverty-related Sustainable Development Goals (SDGs) unless they take urgent steps to strengthen their health financing. The UHC financing agenda fits squarely within the core mission of the G20 to promote sustainable, inclusive growth and to mitigate potential risks to the global economy. Closing the substantial UHC financing gap in 54 low and lower middle-income countries will require a strong mix of domestic and international investment. G20 Finance Ministers and Central Bank Governors can help countries seize the opportunities of high-performance health financing by adopting and steering a UHC financing resilience and sustainability agenda.
Lifelines: The Resilient Infrastructure Opportunity

(Washington, DC: World Bank, 2019-06-19) Hallegatte, Stephane ; Rentschler, Jun ; Rozenberg, Julie

From serving our most basic needs to enabling our most ambitious ventures in trade and technology, infrastructure services are essential for raising and maintaining people’s quality of life. Yet millions of people, especially in low- and middle-income countries, are facing the consequences of unreliable electricity grids, inadequate water and sanitation systems, and overstrained transport networks. Natural hazards magnify the challenges faced by these fragile systems. Building on a wide range of case studies, global empirical analyses, and modeling exercises, Lifelines lays out a framework for understanding infrastructure resilience—the ability of infrastructure systems to function and meet users’ needs during and after a natural shock—and it makes an economic case for building more resilient infrastructure. Lifelines concludes by identifying five obstacles to resilient infrastructure and offering concrete recommendations and specific actions that can be taken by governments, stakeholders, and the international community to improve the quality and resilience of these essential services, and thereby contribute to more resilient and prosperous societies.
World Development Report 2019: The Changing Nature of Work

(Washington, DC: World Bank, 2019) World Bank

Work is constantly reshaped by technological progress. New ways of production are adopted, markets expand, and societies evolve. But some changes provoke more attention than others, in part due to the vast uncertainty involved in making predictions about the future. The 2019 World Development Report will study how the nature of work is changing as a result of advances in technology today. Technological progress disrupts existing systems. A new social contract is needed to smooth the transition and guard against rising inequality. Significant investments in human capital throughout a person’s lifecycle are vital to this effort. If workers are to stay competitive against machines they need to train or retool existing skills. A social protection system that includes a minimum basic level of protection for workers and citizens can complement new forms of employment. Improved private sector policies to encourage startup activity and competition can help countries compete in the digital age. Governments also need to ensure that firms pay their fair share of taxes, in part to fund this new social contract. The 2019 World Development Report presents an analysis of these issues based upon the available evidence.