Technological advances have made it possible to dramatically increase the accountability and transparency of public financing to reduce corruption. For example, if a government decides to construct a road, it can now track how each dollar is being spent, identify all the users of the funds, and ensure that only those authorized to spend money do so on originally intended expenses within the permitted time. Fraud and corruption investigations that now take on average 15 months could be performed at the touch of a button and at a fraction of the cost. More importantly, this type of financial tracking would be a deterrent for bribes in the public sector, which amount to between $1.5 trillion and $2 trillion annually, roughly 2 percent of global GDP. This in turn would increase development impact. All it would take is adopting a cryptocurrency and using blockchain software.
Bangladesh has what it takes to influence this global movement
Bangladesh has made remarkable progress over the past two decades, lifting millions out of poverty and sustaining expanding levels of economic growth.
It has achieved this in spite of major internal and external challenges — global economic downturns, natural disasters, and periods of political uncertainty that have tested the resolve of the Bangladesh economy.
In spite of this and efforts in climate change adaptation, Bangladesh still remains one of the most vulnerable countries to climate change according to the Global Climate Risk Index 2015.
This crisis has sparked an urgent response from the government. The government of Bangladesh is a leader amongst Less Developed Countries (LDCs) in enacting policies to tackle the risks emerging from climate change, as well as in negotiating on behalf of other vulnerable countries to finance both climate change adaptation and mitigation activities.
Bangladesh played a leading role in helping set up the global Green Climate Fund (GCF) with an ambitious agenda to mobilise $100 billion per year from rich countries by 2020 to finance climate change initiatives in developing countries.
Domestically, much more remains to be done towards climate change mitigation. There are multiple sector-specific and cross-cutting policies in place. However, a comprehensive set strategy in support of green growth is yet to be formulated.
The early years are a critical period for development of children’s brains and bodies and the cognitive, linguistic, socio-emotional, and motor skills they need to thrive in school and succeed later in life. Too often, poverty and its associated problems, such as poor health services, weak education systems and lack of parental knowledge, limit the support, care, and stimulation that children require for healthy development.
Early childhood programs are aimed at helping children get what they need to reach their potential. Designing and evaluating the impact of programs requires first understanding how to measure and track children’s development. This is the challenge. Measuring early childhood development in low- and middle-income countries requires trade-offs and choices that can be difficult to manage for even the most experienced researchers. A new toolkit released by the World Bank’s Strategic Impact Evaluation Fund aims to help researchers and development practitioners understand how to assess early childhood development accurately and reliably.
When I was invited to speak at the Real Leaders magazine launch last September, I was asked to share my thoughts on leadership. I wondered what I could say about real leaders that was fresh, inspirational and personal.
I hiked up Hawksbill Mountain in the Blue Ridge the day before the launch so I could clear my head and think about these questions.
The connection I made at the launch was thatTheir success is your success. Leadership is not easy, and the hardest piece of it is compassion. If a member of your team slips and falls on the way, you have to stop, and you may not reach the summit as quickly as you’d like.
Manley Hopkinson, the author of Compassionate Leadership, said thatThe heart of the approach is “understanding yourself.” Once you have a true understanding of yourself, you understand others better and can create more effective businesses and relationships.
In the past two decades, development policy has aimed to involve communities in the development process by encouraging the active participation of communities in the design and implementation of projects or the allocation of local resources. The World Bank alone has provided more than $85 billion for participatory development since the early 2000s.
How can we think in new ways about expanding farmer-led irrigation in support of global food security and poverty reduction? This was the question at the heart of the 2017 Water for Food International Forum. The theme, “Water for Food Security: From Local Lessons to Global Impacts,” was based on the premise that global breakthroughs are so often driven by local action.
Organized by the World Bank and the Daugherty Water for Food Institute (DWFI) at the University of Nebraska, and supported by several partners, the event showcased voices from farmer representatives, the private sector, national and regional policymakers, and major international financing institutions – galvanizing a coalition of support to legitimize farmer-led irrigation as a major development agenda, particularly for Africa.
The APMG PPP Certification Program enables participants to take their skills to the next level, and the Certified PPP Professional (CP3P) credential is a means to officially convey that expertise and ability.
At the core of the program is the PPP Guide, a comprehensive Body of Knowledge that distills globally agreed-upon definitions, concepts, and best practices on PPPs. The program is an innovation of the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD), the Inter-American Development Bank (IDB), the Islamic Development Bank (IsDB), the Multilateral Investment Fund (MIF), and the World Bank Group (WBG), with financial support from the Public-Private Infrastructure Advisory Facility (PPIAF).
Whether you’re thinking about signing up, or already enrolled, in this series we share some insight from practitioners who have already passed the test. This week, we caught up with Abdul Nafi Sarwari, a Senior Financial & Economic Specialist for PPPs with the Central Partnership Authority within Afghanistan’s Ministry of Finance. Read his answers below.
Between 2008 and 2010, we hired a multinational consulting firm to implement an intensive management intervention in Indian textile weaving plants. Both treatment and control firms received a one-month diagnostic, and then treatment firms received four months of intervention. We found (ungated) that poorly managed firms could have their management substantially improved, and that this improvement resulted in a reduction in quality defects, less excess inventory, and an improvement in productivity.
Should we expect this improvement in management to last? One view is the “Toyota way”, with systems put in place for measuring and monitoring operations and quality launch a continuous cycle of improvement. But an alternative is that of entropy, or a gradual decline back into disorder – one estimate by a prominent consulting firm is that two-thirds of transformation initiatives ultimately fail. In a new working paper, Nick Bloom, Aprajit Mahajan, John Roberts and I examine what happened to the firms in our Indian management experiment over the longer-term.
Disaster risk management is a priority for many countries in the Latin America and the Caribbean region.