On a recent visit to provincial treasury offices to learn about the Financial Management Information Systems, or FMIS, that our Governance teams helped introduce, the conversation became about cows.
The learning curve for an institution accustomed to managing public finances the manual way – that is, with papers and pens – to switch to an automated state-of-the-art system was, some treasury staff said, comparable to bringing a cow to watch television. Cows, they explained, are as unfamiliar with television as some treasury staff are with computers, the internet, and FMIS.
Fortunately, the relevance of the analogy was short-lived. It was soon clear that treasury staff can overcome the learning curve and that the new system has been helpful. I consistently heard praise about the system’s usefulness, because it provides useful financial information, reduces the amount of repetitive work, and generates timely reports. That is a big change.
East Asia and Pacific
Global benchmarking reports are great conversation starters. Here in Singapore, a nation defined by its drive for excellence, these benchmarking reports are held as evidence of the country’s development success. From topping the global education index PISA, the Global Competitiveness Index, and the Leading Maritime Capitals of the World Report, Singapore takes great pride in being first, in Asia if not globally.
An important global ranking for Singapore is the Doing Business survey, a ranking the island nation topped for many years, indicating the ease with which business can be done in the little red dot.
May 17 is the International Day Against Homophobia, Transphobia and Biphobia, or IDAHOT.
Why should we care about IDAHOT? Because sexual orientation and gender identity, or SOGI, matters.
Despite some legal and social progress in the past two decades, LGBTI people continue to face widespread discrimination and violence in many countries. Sometimes, being LGBTI is even a matter of life and death. They may be your friends, your family, your classmates, or your coworkers.
Both Malaysia and India are countries steeped in innovation with a strong desire to foster new, innovative start-up enterprises.
With a global focus on providing more support to Small and Medium Scale Enterprises (SMEs) – and recognizing that – Asian countries are keen to learn from each other’s experiences. These efforts have taken on a greater priority in India under the leadership of Prime Minister Modi and his “Make in India” and “Start-Up India” campaigns.
, which is one of the most widely recognized impediments to SMEs, particularly for start-up enterprises. Through the $500 million MSME Growth Innovation and Inclusive Finance Project, the World Bank supports MSMEs in the service and manufacturing sectors as well as start-up financing for early stage entrepreneurs. The start-up support under this project ($150 million) is for early stage debt funding (venture debt) which isn’t well evolved. (Unlike India’s market for early stage equity which is considered to already be reasonably well developed.)
As part of this project, the World Bank and the Small Industries Development Bank of India (SIDBI), recently held a workshop in Mumbai to allow market participants to learn from one another, and particularly about Malaysia’s successful support for innovative start-up SMEs. The workshop’s participants included banks, venture capital companies, entrepreneurs, fintech companies, seed funders and representatives from the Malaysian Innovation Agency (Agensi Inovasi Malaysia – AIM).
What do you love about the city you live in?
Your answer may be a combination of the following: ease of travel and access to many jobs using high quality and low cost public transit; livability as measured by the availability of green or community space such as parks, schools, cultural or shopping centers; ease of walking and biking encouraging active living and an engaging community; and an idea of what the city would look like ten years from now.
Tomorrow is the International Day against Homophobia, Transphobia, and Biphobia. This year, the global theme for this important day is family. Family is vital for all of us, it is what we care about first and foremost.
Photo credit: joyfull/Shutterstock.com
When the Manila Light Rail Transit (LRT) extension project reached financial close in March 2016 it was a landmark event for the Philippines and for Southeast Asia. It is an achievement for an enormous project worth some US$1.1 billion to go ahead in a region with not much of a track record of large-scale transport Public-Private Partnerships (PPPs). The project’s winning formula is a combination of at-times difficult ingredients: government responsiveness, a balanced risk profile, and project bankability.
Developing countries made considerable gains during the 2000s, resulting in a large reduction in extreme poverty and a significant expansion of the middle class. More recently that progress has slowed—and the prognosis is for more of the same, given an environment of lackluster global trade, a lack of jobs coupled with skills mismatches, greater income inequality, unprecedented population aging in richer countries, and youth bulges in the poorer ones. As a result, developing countries are unlikely to close the development gap anytime soon.
Over the past few decades, cheap and low-skilled labor has provided many countries — including much of East Asia — with a competitive advantage. However, with economies increasingly turning to automation, cheap labor and low skills will no longer guarantee economic growth or even jobs.
Places with cold climates need access to a reliable and efficient heat supply for the health of their population. But in developing countries, the majority of rural and peri-urban households do not have access to centralized heating or gas networks. Instead, they use traditional heating stoves that use solid fuels like coal, wood, and dung for heating. These stoves are often inefficient (with thermal efficiency as low as 25%-40% compared to 70% or above for efficient stoves) and emit large amounts of pollutants (e.g., CO and PM2.5), causing indoor and outdoor air pollution with negative health and environmental impacts.