Financial crisis: What the World Bank is doing

Developing countries face a new challenge from the global financial crisis, which is rapidly becoming an unemployment crisis. The recent food and fuel crises have already pushed millions back into poverty and hunger. Sharply tighter credit conditions and weaker growth are likely to cut into government revenues and their ability to invest to meet education, health and gender goals, as well as the infrastructure expenditures needed to sustain growth. The financial crisis now threatens to shrink emerging markets' access to trade and investment, and each 1 percent drop in growth could trap another 20 million in poverty. Governments must keep their commitments to increase aid to the most vulnerable people.

The World Bank Group is helping to address the crisis through financing, advice and partnerships.

Visit: www.worldbank.org and click on "financial crisis"

Daniel Kaufmann's farewell lecture—"Governance, crisis, and the longer view. Unorthodox reflections on the new reality"

On December 9, 2008, the World Bank Institute and the Public Sector Governance Board of the World Bank hosted a farewell lecture by Daniel Kaufmann, outgoing Director of Global Programs at the World Bank Institute. The lecture was held on the international Anti-Corruption Day.

Kaufmann, a world renowned specialist on governance and anti-corruption, outlined his professional journey through the changing times at the Bank and in the greater global context, from a traditional Ivy League economist to understanding the importance of individual voices and people on the ground. He placed the struggles of the anti-corruption and governance movement, which largely defined his career, in the context of today's economic crisis, stating that this crisis creates an opportunity for the international donor community and its key institutions to re-evaluate their business model so to enhance aid effectiveness and abet improved governance around the globe. Kaufmann emphasized the importance of creating more transparency and spurring an open debate about how to address the pending challenges of governance, state capture, corruption, human rights, and freedom of expression and of the media.

Visit: www.worldbank.org/wbi

Conference highlights role of Public-Private Partnerships

World Bank officials addressing a global conference on public-private partnerships in infrastructure in Washington, D.C., underlined the importance of protecting infrastructure stocks and services from further deterioration during the global financial crisis. Addressing public sector professionals mandated to pursue public-private partnerships in infrastructure, Kathy Sierra, World Bank Vice-President for Sustainable Development, cited multiple infrastructure finance initiatives launched by the World Bank Group, including an Infrastructure Crisis Facility created by the International Finance Corporation (IFC) to provide rollover financing and to recapitalize distressed Public-Private Partnership (PPP) projects. She also highlighted Energy for the Poor, an initiative designed to alleviate the impact of this crisis on the poorest segments of the population in developing countries.

The four-day conference (December 15-18, 2008) was co-organized by the World Bank Institute and the Asian Development Bank Institute.

Visit: www.worldbank.org/wbi | www.adb.org | http://info.worldbank.org/etools/ PPPI-Portal/2008PPPI

	Delegates at the GFDRR Conference.

South-South partnerships to strengthen Disaster Reduction and Recovery

The Global Facility for Disaster Reduction and Recovery (GFDRR), established in September 2006, is a unique partnership of the World Bank, the UN and governments. GFDRR provides technical and financial assistance to help high-risk countries decrease their vulnerability and adapt to climate change. In less than two years, GFDRR has received more than $77 million in donor pledges and committed more than $43.5 million in technical and financial assistance to 54 developing countries.

GFDRR launched the South-South Cooperation Program in 2007 to foster greater support for the disaster risk reduction agenda by developing countries. Eight partnership initiatives from governments and non-governmental organizations in Asia and Africa received preliminary approval. These partnerships were invited to a three day workshop from October 29-31, 2008 in New Delhi. The workshop, hosted by India's Ministry of Home Affairs, drew 60 participants representing 30 organizations from 21 countries.

On that occasion, India announced the setting up of a Disaster Management Authority at the national and state government level aimed at harmonizing climate change adaptation and disaster risk reduction.

The partnership for enhancing capacity to implement Disaster Reduction and Recovery among local communities in Asia—comprising groups from India, Nepal, Cambodia, Philippines and Malaysia—spoke to the need to enforce stricter building structural norms in line with resistance to disaster. The Partnership forged greater collaboration by sharing among member countries examples of multi-hazard projects which have been implemented in their respective countries.

The Disaster Risk Reduction City to City sharing initiative for Developing Countries—a partnership between the city of Makati in the Philippines, Kathmandu in Nepal and Quito in Ecuador—seeks to integrate Disaster Risk Reduction in land-use planning policies by strengthening capacity of city managers, and establishing a continuous long-term partnership among cities in developing countries.

For further information contact: Katalin Demeter, Program Leader, Sustainable Development Division, The World Bank Institute (kdemeter@worldbank.org)

Labor Market Policy Core Course

"Jobs for a Globalizing World: Labor Market Policy" (March 30 to April 10, 2009-Washington, DC) is a two week course offering a unique learning experience on how employment is being transformed in today's rapidly changing, globalizing environment. The course identifies key labor market challenges within the context of overall poverty reduction and other economic and social development goals, and explores what policy makers and others can do about them. It builds on the latest research findings by the World Bank and other academic and research institutions, as well as on practical lessons learned from country experiences. The content of the course will focus specially on developing and transition countries. The course will feature parallel sessions, focusing separately on labor issues in low-income and middle income countries. This structure will allow a more in-depth exploration of the policy options for each setting. Participants will also have the opportunity to present and discuss challenging labor market issues in their own country, and work toward solutions with other participants and experts.

Contact Azedine Ouerghi at Aouerghi@worldbank.org

World Bank Strategy for India Set to Boost Support for Infrastructure and Poorer States

The World Bank Group is tailoring its assistance to India both to fast-track much-needed infrastructure development and to support the country's seven poorest states achieve better living standards for their citizens. The World Bank Group's new Country Strategy for India envisages a total proposed lending program of US$14 billion for the next three years, of which US$9.6 billion is from the International Bank for Reconstruction and Development (IBRD) and US$4.4 billion (SDR 2.982 billion equivalent at the current exchange rate) from the International Development Association (IDA). The strategy is guided by the priorities of the Government of India as expressed in the Eleventh Five-Year Plan. Addressing India 's vast infrastructure deficits is critical to boosting growth and bridging the gap between rich and poor. A related challenge is to ensure that development is sustainable, meaning that the environment is cared for in the process.

For more information visit: www.worldbank.org/in

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