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The World Region

Persistent gender gaps and short-term solutions

Anna Steinhage's picture

In 2014, Australian startup founder Evan Thornley gave a talk at a technology startup conference about why he likes to hire women. So far, so good. However, things quickly deteriorated when he explained that part of the reason was that women were “still often relatively cheap compared to what we would’ve had to pay someone less good of a different gender”, illustrated by a slide that read “Women. Like men, only cheaper”.
 
While the ensuing media outcry quickly forced Thornley to backtrack on his comments, the reality his slide so eloquently put into words is not so easily revised. Even in Silicon Valley, considered one of the most forward-thinking industries in the world, women continue to be paid less than their male counterparts.

Ahead of the next Habitat conference, the urban world we want

Sameh Wahba's picture


There is no better way to mark this year’s World Cities Day than reflecting on the adoption of the New Urban Agenda at the recent Habitat III conference in Quito. The agenda reaffirms the political commitment to sustainable urbanization and provides a framework to guide global urban development over the next 20 years, based on a shared vision of cities that are inclusive, safe, resilient and sustainable.

In an era of rapid urbanization and climate change, managing urban growth sustainably and building cities that work is indeed one of our most pressing development challenges.

Already, more than half of the global population — nearly 4 billion people — live in urban areas. Two decades from now, that number will grow to 5.5 billion — more than 60 percent of the world’s population. At the same time, the total built-up area of the world’s cities is expected to be double by 2030 what it is today, if not more.

Because urban-planning decisions lock cities in for generations, what policymakers decide in these two decades will make or break cities’ sustainable future for the rest of this century. With that in mind, one may ask: What will the world look like when Habitat IV takes place in 20 years?

I can imagine two opposite ends of the spectrum.

Chart: 25 Years of Growth in The World's Largest Cities

Tariq Khokhar's picture

By 2030, two thirds of the world will live in cities. The world's 12 largest city areas are each home to over 15 million people, and over the last 25 years, cities such as Delhi, Shanghai and Beijing have tripled in size.

Open about what we do and open about what we’ve done

Stefan Koeberle's picture
Selected World Bank Projects in Ethiopia


Do you know that the World Bank makes openly available the details of projects, financials, and now results?

Six years ago we launched our open data initiative, and we remain committed to being open about what we know and open about what we do. Readers are probably familiar with our development data and statistics, but there’s a wealth of data available on our project and operations that’s also available in the IATI open data format.

Chart: 137 Economies Implemented 283 Business Reforms Last Year

Tariq Khokhar's picture

Doing Business 2017 finds that 137 economies worldwide implemented 283 business regulatory reforms last year. This represents an increase of more than 20% over the previous year. Areas of reform include starting a business, paying taxes, getting credit and registering property. Notably, 54 IDA countries implemented 113 reforms.

Does governing law affect bond spreads?

Dilip Ratha's picture

Conventionally the governing law should not affect the cost of borrowing in international markets. If it did, borrowers would use the cheaper jurisdiction. Also, if somehow the spread differed at the time of the launch of the bond, trading in the secondary market should eliminate the difference. A recent paper shows otherwise: Sovereign bonds issued under the UK law had a persistent higher spread than those under the US law, but only since the global financial crisis in 2008.

Historically, U.S. law issuances formed the dominant part of the volume of dollar-denominated central government bond issuances, barring 2012 when U.K. law issuances briefly overtook U.S. law issuances (Figure 1). There were also divergences in characteristics of dollar-denominated central government bonds issued across the two jurisdictions. Average spread at launch for bonds issued under U.K. law became distinctly higher after the global financial crisis in 2008 (Figure 2). On average, bonds issued under U.K. law also had weaker ratings and shorter tenors post-crisis.

Strengthening governance through the World Bank’s Fund for the 77 poorest countries

Deborah Wetzel's picture
Photo credit: Graham Crouch/World Bank

In my blog “The Governance Gap – can we bridge it?”, I stressed that strengthened institutions and improved governance are especially critical for the world’s most vulnerable countries in IDA, the World Bank’s Fund for the 77 poorest countries.

IDA is the single largest source of funds for basic social services for these governments and every three years, members representing IDA’s 173 donor and borrowing member countries meet to replenish its resources and refine its priorities.

Why are we blind to human progress and development? Harvard’s Steven Pinker has an explanation.

Dani Clark's picture

Harvard’s Steven Pinker paints a hopeful picture with data. He believes a humanitarian revolution has been underway for generations. “Our species has a history of violence,” the renowned psychologist and writer said at the World Bank, but humankind is less violent than it ever has been. We are living through the most peaceful era in history. Taking from his 2011 bestselling book, “The Better Angels of our Nature: Why Violence Has Declined,” Pinker clicked through graph after graph to prove it.

State-sanctioned slavery? Abolished everywhere. Capital punishment? Almost abolished everywhere. For the most part, no more dueling, blood sports, judicial torture, debtors’ prisons or witch-hunting. And here’s an interesting data tidbit: A person in England has 1/50th the chance of being murdered today compared with the Middle Ages.

Implementing the New Urban Agenda needs financially strong cities

Ede Ijjasz-Vasquez's picture
Cities around the world face increasingly complex challenges such as rapid urbanization and climate change. Meanwhile, many cities facing the most pressing problems lack sufficient funding to meet local needs. This is especially the case for developing countries, where cities require significant infrastructure investment to provide basic services to growing populations and expanding urban areas.
 
How can cities access, leverage, and manage the fiscal and financial resources required to implement the New Urban Agenda and meet the growing needs of local populations?
 
To explore this issue, World Bank Senior Director Ede Ijjasz-Vasquez discussed the UN Habitat III policy paper on municipal finance and local fiscal systems with Mac McCarthy, President and CEO of the Lincoln Institute of Land Policy.
 

How training can make or break a PPP

Tony Smith's picture



There are currently 108 countries worldwide either implementing public-private partnership (PPP) projects or seeking to do so. But many are experiencing difficulties in training and retaining the high quality staff necessary to deliver them. This prevents them from benefitting from the improved infrastructure and services that could be provided, which adversely affects the economies.
 
Why is this important? Because PPPs have become increasingly popular as a method of delivering public sector infrastructure and services in a world characterized by massive infrastructure deficits, poor quality public services and insufficient public sector finance available to address the problem.


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