Investment Rating - The report does not explicitly provide an investment rating for the sanitation industry. Core Insights - The sanitation sector is increasingly recognized as critical for urban resilience, particularly in the context of climate change, which poses significant risks to public and environmental health [17][18][20]. - A systems-based approach is essential for enhancing the resilience of urban sanitation systems, integrating them with other urban infrastructure and services [21][22][23]. - The Citywide Inclusive Sanitation (CWIS) approach is highlighted as a key paradigm for ensuring adequate sanitation for all urban residents, particularly under climate change pressures [21][22]. Summary by Sections 1. Introduction - Urban sanitation systems are interconnected with other critical urban infrastructures, and their failures can trigger cascading adverse effects on public health and environmental sustainability [17][18]. - Climate change exacerbates vulnerabilities in urban sanitation systems, necessitating integrated resilience planning [17][18]. 2. Climate Change Impacts on Urban Sanitation Systems - Urbanization has led to increased pressure on sanitation systems, with inadequate infrastructure being further strained by climate change impacts [24][25]. - Climate change manifests through extreme weather events, which can damage sanitation infrastructure and disrupt services, leading to public health risks [25][27][28]. 3. Urban Sanitation Failures and Climate Change - The report categorizes urban sanitation failures into five modes, linking them to climate change impacts and emphasizing the need for a systems-based approach to address these failures [36][39][43]. - Climate change can lead to direct negative impacts on sanitation systems, including damaged infrastructure and disrupted services, which threaten progress towards Sustainable Development Goals (SDGs) [27][29][49]. 4. Citywide Inclusive Sanitation (CWIS) and Climate Change - CWIS is positioned as a critical framework for integrating climate resilience into sanitation planning, ensuring that all urban residents have access to safe sanitation services [21][22][23]. - The report emphasizes the importance of adaptive and inclusive planning to safeguard public and environmental health in the face of climate variability [22][23]. 5. Conclusion - The findings underscore the urgent need for climate-resilient sanitation systems that can adapt to changing conditions while maintaining universal access to safely managed services [20][21][22].

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The World Bank's support has been pivotal in addressing the plastic waste crisis in the Philippines, focusing on technical support, policy guidance, and strategic financing to enhance local capacity and promote a circular economy in plastic waste management [3][6][7]. Summary by Sections The Context - The Philippines is a significant contributor to marine plastic pollution, leaking over 0.3 million metric tons of plastic waste into the ocean annually, which constitutes approximately 8.8% of its total mismanaged plastic waste [6][14]. - The country faces challenges in establishing a sustainable solid waste management system due to infrastructure, governance, and policy gaps, despite strong political will to combat plastic pollution [6][12][15]. The Story - The World Bank's engagement has raised national awareness of the plastic crisis and facilitated the development of local knowledge and capacity while providing targeted financial assistance [7][8]. - The government of the Philippines has shown commitment to improving plastic waste management through various legislative measures, including the Ecological Solid Waste Management Act and the Extended Producer Responsibility Act [21][40]. Plastic Waste in the Philippines - The Philippines generates about 1.7 million tonnes of post-consumer plastic waste annually, with a significant portion being single-use plastics [15][18]. - The country has low recycling rates, approximately 9% as of 2019, due to inadequate infrastructure and regulatory standards [18][19]. Systematic Approach to Circularity - The roadmap for managing plastic waste emphasizes phasing out single-use plastics and implementing Extended Producer Responsibility (EPR) schemes as foundational pillars for achieving circularity [37][38]. - The roadmap was developed through extensive stakeholder engagement and aims to provide a practical guide for improving plastic waste management [40][46]. Funding and Support - The World Bank has mobilized over USD 1 million in funding for various analytical studies and capacity-building activities to support the Philippines' transition to a circular economy [67]. - A significant milestone was the formal request from the Philippine government for a USD 1 billion "Clean Philippines" program to enhance solid waste management and reduce ocean-bound plastic pollution [70][71].

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - FutureX is Saudi Arabia's flagship initiative aimed at transforming education and training through digital learning, addressing the challenges posed by technological advancements and evolving labor market demands [9][10][11] - The initiative aligns with Saudi Arabia's Vision 2030, focusing on economic diversification and the development of a skilled workforce [10][11][12] - FutureX has reached over 3.4 million learners and delivered nearly 18 million learning hours, showcasing its rapid expansion and impact [12][75] Summary by Sections Executive Summary - FutureX represents a strategic effort to equip learners with necessary skills for a rapidly changing world, particularly in the MENA region facing demographic and climate challenges [9][10] Digital Transformation for a Changing World - The report emphasizes the need for new approaches to education and skills development to adapt to technological and labor market changes [28][29] Background and Context: The Challenge - Saudi Arabia's Vision 2030 aims to reduce oil dependency and foster a skilled workforce through initiatives that enhance education and training [37][38] Saudi Arabia—Innovating a Way Forward with FutureX - FutureX serves as a national eLearning hub, connecting learners with a wide range of educational resources and ensuring quality through regulatory oversight by the National eLearning Center (NeLC) [11][67][73] FutureX Design Features - The platform is designed to be fully interoperable, offering a centralized ecosystem for education and training, and partners with over 50 eLearning platforms [67][72] Scale and Scope - FutureX has developed over 131,000 courses and more than 87,000 tailored learning paths, enabling organizations to customize training according to their workforce needs [12][80] Course Offerings, Pathways Curation and Demand - The platform allows organizations to create customized learning pathways, ensuring alignment with specific skills and workforce development needs [80][88]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Digital transformation is reshaping economies and labor markets, creating opportunities and challenges for Zambia, which has a young population that needs to be equipped with digital competencies [9][10] - The assessment of digital skills among TVET teachers and students reveals significant gaps in digital proficiency, indicating a need for systematic integration of digital competencies into education [12][15] Summary by Sections I. Introduction - Zambia has a youthful population with 80% under 35 years old, and 400,000 youth enter the labor market annually [17][18] - Despite educational reforms, learning outcomes remain poor, necessitating strategic investments in education quality [19] II. The Digital Skills Assessment - A task-based digital skills assessment was conducted among TVET teachers and students using the Pix platform, measuring proficiency across five domains [11][28] - The assessment covered a representative sample of 103 teachers and 877 students from 19 institutions [35][40] III. Findings on Teachers' Digital Skills - Teachers achieved an average proficiency score of 2.4, indicating beginner-level skills [12][46] - 46% of teachers reached Level 2, while 22% achieved Level 3, indicating a significant gap in their ability to guide students effectively [12][48] IV. Findings on Students' Digital Skills - Students scored an average of 1.9, corresponding to very beginner-level skills, with 11% scoring below Level 1 [15][66] - Only 8% of students attained intermediate proficiency, highlighting the need for enhanced digital skills training [67][72] V. Comparison of Results - Teachers consistently outperformed students across all competence areas, with the largest gaps in areas such as attachment recognition and methods for connecting to the internet [82][84] VI. Implications and Next Steps - Recommendations include prioritizing foundational digital skills training for both teachers and students, developing structured blended training programs, and integrating digital literacy into the curriculum [14][16][19]

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The evaluation assesses the World Bank Group's support to Jamaica from FY 2014 to FY 2025, focusing on macrofiscal stability and public sector resilience, as well as household and community resilience to shocks [2][3]. - Jamaica's economy has faced persistent low growth, averaging 0.8% from 2014 to 2024, below the regional average of 1.3%, due to structural constraints and external shocks [4]. - The report highlights the interconnectedness of Jamaica's weak growth, poverty, and high crime rates, with crime costing the economy approximately 4% of GDP annually [4][5]. - The World Bank Group's engagement aligns with Jamaica's Vision 2030, focusing on empowering citizens, building a prosperous economy, and sustaining a healthy environment [17]. Summary by Sections Evaluation Purpose and Audience - The evaluation aims to inform future Bank Group engagement in Jamaica, particularly for the next Country Partnership Framework expected in FY 2028 [1]. Country Context and Development Challenges - Jamaica's economy is vulnerable to various shocks, including climate-related events, with a high exposure to natural disasters [4]. - The country has implemented macrofiscal reforms since 2013, reducing public debt from 139% of GDP in 2013 to 68% in 2024 [9]. World Bank Group Engagement in Jamaica - The World Bank approved 24 lending operations totaling US$1.1 billion during the evaluation period, with a focus on macrofiscal stability and resilience [31]. - The FY24–27 Country Partnership Framework emphasizes improved human capital, job quality, and resilience to climate shocks [27]. Evaluation Focus Areas - The first focus area evaluates macrofiscal stabilization and public sector resilience, with support for reforms in budget management and disaster risk financing [41]. - The second focus area assesses household and community resilience, emphasizing social protection programs and climate resilience initiatives [50]. Evaluation Questions and Scope - The evaluation will address the relevance, effectiveness, and coherence of the Bank Group's contributions to macrofiscal sustainability and household resilience [58][62].

Investment Rating - The report emphasizes the importance of developing distressed asset markets, particularly in emerging markets and developing economies (EMDEs), to enhance financial stability and attract private investors [14][24]. Core Insights - Distressed asset markets are crucial for offloading nonperforming loans (NPLs) and improving financial institutions' balance sheets, thereby contributing to market liquidity and capital ratios [24][32]. - The report identifies five fundamental pillars necessary for investors to participate in the development of distressed asset markets: sufficient volume, transferability, limited price gap, adequate investment structure and servicing capacity, and efficient insolvency and enforcement frameworks [30][65]. Summary by Sections Executive Summary - NPL sales have become a key strategy for resolving distressed assets, especially post-2008 financial crisis, leading to the optimization of distressed asset markets in developed economies [24][25]. - In EMDEs, the lack of developed tools for managing distressed assets limits financial institutions' options, necessitating a focus on enhancing resolution tools [27][28]. Importance of Distressed Asset Markets - High levels of distressed assets can hinder economic growth by constraining lending and increasing unemployment, making the ability to offload these assets vital for financial stability [32][34]. - Distressed asset markets facilitate quicker resolution through sales, contrasting with on-balance sheet management approaches that may be less effective [37][38]. Enabling Environment for Market Development - Economic downturns and regulatory pressures often catalyze the development of distressed asset markets, as financial institutions are incentivized to reduce NPL ratios [50][51]. - Government initiatives play a critical role in establishing a conducive legal and regulatory environment for market development [55][56]. Five Pillars for Market Development - **Volume**: Sufficient volume is essential to justify due diligence costs and attract investors [65][79]. - **Transferability**: Efficient transfer processes for distressed assets between entities are crucial for market development [66][68]. - **Price Gap**: A significant price gap between buyers and sellers can hinder market transactions, even when volume is adequate [69]. - **Structure and Servicing Capacity**: A suitable investment structure and local servicing capacity are necessary for effective asset recovery [72][73]. - **Insolvency and Enforcement Framework**: A strong legal framework for insolvency and debt enforcement is vital for investor confidence and timely recoveries [73][74].

Investment Rating - The report does not explicitly provide an investment rating for the education sector in South Asia. Core Insights - The demographic transition in South Asia presents both challenges and opportunities for the education sector, with a projected decline of about 10% in the under-17 population by 2050, from 634 million in 2020 to 572 million [10] - The potential for reinvesting educational resources is significant, with an average of 0.6 percentage points of GDP available for basic education by 2050, even after achieving universal basic education [4] - The report emphasizes that a shrinking student population does not automatically lead to more efficient spending due to structural and political challenges [4] Summary by Sections Introduction - The demographic transition in South Asia is characterized by a decline in the school-age population, which varies across countries, with some experiencing growth while others face significant declines [10] Education Landscape - South Asia has seen improvements in access to education, with primary school attendance rates exceeding 90% in most countries, but quality remains a challenge, with high rates of learning poverty [11][12] - The region spends an average of only 3.5% of GDP on education, below the recommended 4% to 6% by UNESCO [12] Investment Efficiency - Inefficient allocation of education funds, primarily towards infrastructure and salaries, limits investments in areas that could enhance learning outcomes [14] - Strategic investments are needed to improve educational quality, including targeted campaigns and improved teaching practices [14] Demographic Opportunities - The demographic shift offers a chance to create fiscal space for improving education access and quality, but requires proactive policy choices to realize efficiency gains [15][16] - School consolidation is suggested as a method to manage costs while maintaining quality, though it faces political resistance [20][21] Projections and Scenarios - The report projects public education expenditure as a percentage of GDP from 2020 to 2050 across eight South Asian countries, considering various scenarios related to demographic changes and education system efficiency [23][24] - Four scenarios are analyzed: demographic changes only, universal enrollment by 2050, high-income country expenditure levels, and variable GDP growth rates [28][29] - Under the conservative GDP growth scenario, public expenditure on primary and secondary education could be reinvested to the equivalent of 1.7 percentage points of GDP by 2050 [29]

Investment Rating - The report does not provide a specific investment rating for the industry. Core Insights - The study investigates the impact of survey mode (in-person vs. phone) on data quality in rural Nigeria, revealing that phone responses differ from in-person responses by 17-18% at the median across various outcome measures [4][13][57]. - The findings indicate that mode effects are significant and economically meaningful, with 70% of outcomes showing positive mode effects, suggesting that respondents tend to provide more affirmative or frequent responses via phone [13][60]. - The research highlights the importance of understanding and mitigating measurement errors in phone surveys to improve data quality in low- and middle-income countries [17][19]. Summary by Sections Introduction - High-quality socioeconomic data is essential for research and development interventions, with phone surveys becoming increasingly important in low- and middle-income countries, especially post-COVID-19 [9][10]. - Concerns about data quality in phone surveys have emerged, necessitating a deeper understanding of mode effects and their implications for economic research [10][11]. Experimental Design and Data - The study utilized a randomized survey experiment involving 937 households in rural Nigeria, comparing responses from both phone and in-person interviews [12][33]. - The experimental design allowed for the identification of mode effects while controlling for various confounding factors [39][45]. Main Estimates of Mode Effects - The results show that responses collected via phone differ significantly from in-person estimates, with the median mode effect at 18% for between-respondent estimates and 17% for within-respondent estimates [57][58]. - Mode effects vary by topic, with the largest effects observed in health-related questions, such as health expenditure incidence and COVID-19 vaccination rates [58][60]. Respondent-Level Mode Effects and Heterogeneity - The within-respondent design revealed substantial heterogeneity in mode effects, with many respondents providing inconsistent answers across modes [64][70]. - More educated respondents were found to be less susceptible to mode effects, indicating that education level plays a role in response consistency [70][71]. Conclusion - The study emphasizes the need for further research to understand the drivers of mode effects and to develop strategies for mitigating measurement errors in phone surveys [20][61].

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The report emphasizes the need for a shift towards healthier, sustainable diets in Cambodia, highlighting the current dietary patterns that contribute to malnutrition and environmental issues [16][17] - It identifies the potential for dietary shifts to reduce greenhouse gas emissions by up to 31% and improve nutritional outcomes [20][30] - The analysis suggests that combining climate-smart agricultural practices with dietary changes can significantly mitigate environmental impacts while enhancing food security [27][28] Summary by Sections Executive Summary - Current diets in Cambodia are heavily reliant on rice and ultra-processed foods, leading to malnutrition [16] - The report proposes optimized diet baskets that are nutritious, affordable, and environmentally sustainable [17] Background - The report outlines the triple burden of malnutrition in Cambodia and the need for a comprehensive approach to food systems that integrates health, economic growth, and climate resilience [16][17] Results - Current Cambodian diets consist of approximately 400 g of rice per person per day, with recommendations to reduce this to 240-320 g while increasing fruit and vegetable intake significantly [20][23] - The analysis indicates that a shift towards healthier diets requires increased consumption of plant-based foods and a reduction in high greenhouse gas-emitting animal products [20][30] Recommendations - The report recommends priority actions for government stakeholders to align agricultural practices with health and nutrition goals, including the promotion of fortified rice and climate-smart agriculture [35][36] - It emphasizes the importance of social and behavior change strategies to encourage healthier eating habits among the population [25][36]

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - Lebanon's economy recorded positive growth in 2025, with real GDP growth revised down to 3.5 percent due to a weaker-than-expected tourism season, reflecting a rebound in tourism and early signs of macroeconomic stabilization [18][21][54]. - The election of a president and the formation of a government have contributed to a degree of institutional and political stabilization, although it remains fragile [18][19]. - Progress on the reform agenda has been uneven, with critical reforms needed to restore macroeconomic and financial stability [19][20]. Summary by Sections 1. Policy Context - A fragile ceasefire and regional escalation have negatively impacted economic activity, particularly tourism [48]. - Political functionality has returned with the election of a president and government formation, supporting economic activity [49]. 2. Recent Economic Developments Output and Demand - Real GDP growth is expected to be 3.5 percent in 2025, down from 4.7 percent due to a weaker tourism season [21][54]. - Private consumption remains the primary driver of growth, supported by remittances and increased dollarization [61][63]. Fiscal Developments - The fiscal stance has improved, with a projected balanced budget in 2025 due to increased revenue collection [23][32][64]. - Tax revenues are expected to reach 16.3 percent of GDP, driven by improved collection efforts [64]. External Sector - The current account deficit is estimated to narrow to 15.8 percent of GDP in 2025, supported by stronger services exports and remittance inflows [24][42]. - Exchange rate stability has persisted since August 2023, aided by improved revenue collection and fiscal measures [25][43]. Money and Banking - The banking sector restructuring law was enacted, but full implementation awaits further legislative action [50][38]. - Public debt remains high, and progress on debt restructuring is slow, limiting access to international capital markets [23][41]. 3. Outlook and Risks - Economic momentum is expected to continue into 2026, with real GDP growth projected at 4 percent, contingent on sustained reform progress and political stability [27][45]. - External vulnerabilities persist, with the current account deficit projected to widen to 16.1 percent of GDP in 2026 due to increased imports [28][47].