Investment Rating - The report does not explicitly provide an investment rating for the off-grid solar sector, but it emphasizes the sector's potential to electrify over 363 million people and its growth trajectory, indicating a favorable outlook for investment opportunities [18][37]. Core Insights - Off-grid solar systems are identified as the least-cost solution to achieve Sustainable Development Goal 7 (SDG7) by 2030, with a market value of approximately $2.8 billion in 2022, recovering from COVID-19 disruptions [18][37]. - The report highlights the significant environmental and social (E&S) risks associated with e-waste generated from off-grid solar systems, particularly from batteries and other components, which can have severe health and environmental impacts if not managed properly [19][20][42]. - A circular economy approach is recommended to minimize e-waste generation, emphasizing the 5Rs: reduce, reuse, repair, refurbish, and recycle, which can be integrated throughout the product lifecycle [21][30]. Summary by Sections 1. The Off-Grid Solar Sector - The off-grid solar sector serves approximately 490 million people, with a significant portion gaining access through pay-as-you-go financing, and is projected to connect an additional 363 million people by 2030 [37]. - The sector consists of four main market segments: solar lanterns, solar home systems, productive uses of renewable energy, and public facility electrification [37][38]. 2. Off-Grid Solar E-Waste Landscape Scan - The report identifies challenges in the OGS e-waste management sector, including a complicated reverse supply chain and the prevalence of poor-quality products, which contribute to e-waste accumulation [20][52]. - Good practices in e-waste management are highlighted, including quality assurance standards and partnerships with recycling firms [22][23]. 3. Environmental & Social Risk Management Guidelines - A step-by-step process for identifying and managing E&S risks related to off-grid solar e-waste is outlined, including conducting situation analyses and developing mitigation strategies [25][26]. - Key risk management strategies range from low-cost interventions to more ambitious actions requiring significant investment [26][27]. 4. The Way Forward for Off-Grid Solar E-Waste Management - The report emphasizes the need for stakeholders to pursue a diversified agenda to achieve circularity in the off-grid solar sector, including regulatory support and investment in infrastructure [31][32]. - The toolkit aims to assist World Bank teams in analyzing E&S risks and aligning with the World Bank Environmental and Social Framework [32][34].

WORLD BANK GROUP Better Education for Stronger Growth Europe and Central Asia Economic Update Office of the Chief Economist Fall 2024 · · · · ● . ● ● WORLD BANK ECA ECONOMIC UPDATE FALL 2024 Better Education for Stronger Growth Office of the Chief Economist © 2024 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW, Washington, DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org Some rights reserved 1 2 3 4 27 26 25 24 This work is a product of the staff of The ...

Investment Rating - The report does not provide a specific investment rating for the industry or company under review Core Insights - The Implementation Completion and Results Report (ICR) serves as a primary self-evaluation tool for the World Bank, documenting project performance and results at project closure [7] - The ICRR is an independent review that validates the ICR's findings and ratings, ensuring accountability and learning for both the World Bank and stakeholders [10][12] - The evaluation methodology focuses on assessing project achievements against stated objectives, relevance, and resource efficiency [13] Summary by Sections Section 1: Project Data - The IEG ICRR Portal system automatically pulls project data from the Operations Portal, and discrepancies should be noted [41] Section 2: Project Objectives and Components - Project objectives must be clearly identified from legal documents, and the assessment should focus on their relevance and achievement [46][49] - The project components should be summarized with both estimated and actual costs recorded in millions of US dollars [53][54] Section 3: Relevance of Objectives - Relevance is assessed based on alignment with current World Bank and country strategies, addressing significant development challenges [66][72] - The relevance of objectives is rated on a four-point scale: high, substantial, modest, or negligible [75] Section 4: Achievement of the Objectives (Efficacy) - Efficacy measures the extent to which project objectives were achieved, considering plausible causality and the contribution of non-project factors [76][81] - Each objective is assessed based on evidence from the ICR, and the assessment should clarify the causal relationships between project activities and outcomes [78][84] Section 5: Efficiency - Efficiency evaluates how well resources were utilized to achieve project objectives, although specific details are not provided in the excerpts [3] Section 6: Project Outcome - The overall project outcome is derived from the ratings of relevance, efficacy, and efficiency, although specific outcome ratings are not detailed in the provided content [3] Section 7: Risk to Development Outcome - This section assesses potential risks that could affect the sustainability of project outcomes, but specific risks are not detailed in the excerpts [3] Section 8: Bank Performance - Bank performance is evaluated based on the quality of project entry and supervision, although specific performance ratings are not provided [15] Section 9: Quality of Monitoring and Evaluation - The quality of monitoring and evaluation arrangements is assessed, focusing on their effectiveness in improving project performance [16] Section 10: Other Issues - This section addresses safeguards, fiduciary compliance, and any unanticipated impacts, although specific issues are not detailed in the excerpts [3] Section 11: Ratings Summary - A summary of ratings is provided, but specific ratings are not included in the excerpts [3] Section 12: Deriving Lessons - Lessons learned from project implementation are documented to inform future projects, although specific lessons are not detailed in the excerpts [3] Section 13: Assessment Recommended - Recommendations for future assessments are provided, but specific recommendations are not included in the excerpts [3] Section 14: Quality of the ICR - The quality of the ICR is evaluated based on evidence, analysis, and adherence to World Bank guidelines, although specific quality ratings are not provided [16]

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The report emphasizes the need for tailored regulatory frameworks to protect digital platform workers, particularly in low- and middle-income countries (LMICs) [3][6][7]. - It highlights the importance of addressing market power asymmetries, information asymmetries, and competition barriers to improve employment outcomes for platform workers [20][12][19]. Summary by Sections Introduction - Digital platform work is defined as task- or gig-based work facilitated through digital marketplaces, connecting workers with clients [14]. - The global employment share of digital platform work is estimated to be between 4.4% and 12.5% of the labor force, excluding location-based services [15]. Interventions and Findings - **Market Power Asymmetries**: The report discusses the monopsony power of platforms, which can lead to underpayment and restricted flexibility for workers. Regulatory responses may include minimum wage policies and strengthening workers' bargaining power [20][21]. - **Information Asymmetries**: Employers often have more information than workers, which can hinder workers' ability to find suitable jobs. The report suggests improving transparency and access to information about employers [28]. - **Competition Barriers**: The competitive environment of platforms affects the treatment of workers. The report notes a lack of empirical evidence on the effects of addressing competition barriers [12][32]. - **Social Insurance**: There is a low coverage of social insurance among digital platform workers. Policymakers are encouraged to leverage platform data to extend social insurance coverage [11][17]. Recommendations - Policymakers should consider a combination of labor market regulations, product market regulations, and social protection measures to effectively support digital platform workers [12][19]. - The report calls for more research to understand the preferences of digital platform workers regarding social benefits and protections [13].

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The World Bank has played a significant role in raising awareness and sharing knowledge about the learning crisis, particularly through its data and analytics, which have defined learning poverty and encouraged stakeholder engagement [17][30] - The World Bank is well-positioned to address the learning crisis due to its relationships with governments and its status as the largest external education funder, although its support could be more strategically focused [18][50] - The evaluation highlights the need for better monitoring and evaluation of learning outcomes, as many projects focus on outputs rather than the actual changes in teaching and learning [19][40] Summary by Sections Overview - The World Bank has helped build awareness and convene global stakeholders around quality basic education, emphasizing the importance of addressing the learning crisis [17] - The report identifies that the World Bank's financing for basic education typically tracks inputs and outputs, with limited assessment of changes in systems and learning outcomes [19][34] Learning Crisis Context - Learning poverty was reported at 91% in low-income countries before the COVID-19 pandemic, worsening since then [21] - The report emphasizes that improving learning for all is more complex and costly than merely increasing access to education [23][25] Evaluation Findings - The evaluation assesses the World Bank's contribution to improving learning outcomes in basic education from 2012 to 2022, focusing on the adoption of a systems approach [26][50] - The World Bank's portfolio for basic education operations during this period totaled $25 billion, with a concentration in the Africa Region [34] Recommendations - The report recommends developing country-specific education engagement plans that include systems-based enhancements to the teaching framework [58] - It also suggests collaborating with global and country partners to close data gaps on learning outcomes and track progress in ending learning poverty [60][71]

olic Disclosure Auth blic Disclosure Authoriz | --- | --- | --- | |---------------------------------------------------------------------------------------|-------|-------| | | | | | | | | | SIERRA LEONE ECONOMIC UPDATE | | | | Unlocking the Potential of the Power Sector in Sierra Leone Breaking the Crisis Cycle | | | Disclosure Autho © 2024 The World Bank 1818 H Street NW, Washington DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org Some rights reserved This work is a product of the staff of The ...

Investment Rating - The report does not explicitly provide an investment rating for the Jordanian economy or specific sectors within it. Core Insights - Jordan's economy demonstrated resilience in 2023, achieving a GDP growth of 2.7 percent, up from 2.6 percent in 2022, with broad-based growth across manufacturing, services, and agriculture [12][18] - The unemployment rate declined to 22.0 percent in 2023 from 22.8 percent in the previous year, with a stable rate of 21.4 percent in Q1-2024 [12][14] - Inflation decelerated significantly to 2.1 percent in 2023, down from an average of 4.2 percent in 2022, and is expected to remain contained in 2024 [12][14] - The current account deficit narrowed to 3.7 percent of GDP in 2023, down from 7.8 percent in 2022, supported by a surge in tourism receipts [12][14] - The fiscal deficit of the central government narrowed to 5.1 percent of GDP in 2023, aided by lower expenditure [12][14] Recent Economic Developments - Economic growth continued to decelerate due to the conflict in the Middle East, with real GDP growth slowing to 2.0 percent in Q1-2024 [12][18] - Manufacturing growth reached a record high, contributing significantly to GDP growth, while the services sector, particularly restaurants and hotels, also performed well [12][18] - Labor market outcomes remained weak, with labor force participation declining to 33.2 percent in 2023 [12][18] - The external sector improved markedly, with a notable increase in tourism receipts contributing to the narrowing of the current account deficit [12][14] Outlook and Risks - The medium-term outlook for Jordan's economy is weighed down by uncertainties surrounding the ongoing conflict in the Middle East, which could adversely impact trade and tourism [14][16] - Fiscal consolidation is expected to proceed slowly, with the primary fiscal deficit anticipated to narrow further in 2024 [12][14] - The report highlights potential risks to economic stability from broader disruptions due to the conflict, affecting trade, oil prices, and consumer behavior [14][16]

Industry Overview - The Multilateral Investment Guarantee Agency (MIGA) has issued $84.5 billion in guarantees since its inception in 1988, supporting over 1,030 projects across 123 host countries [1] - In fiscal year 2024 (FY24), MIGA issued a record $8.2 billion in new guarantees across 40 projects, with 95% of these projects supporting at least one of MIGA's strategic priority areas [2] - MIGA's strategic priorities include increasing engagement in International Development Association (IDA)-eligible countries, fragile and conflict-affected situations (FCS), and climate finance initiatives [2][20] Regional and Sectoral Impact - MIGA issued $2.9 billion in guarantees in Europe and Central Asia, $2.7 billion in Sub-Saharan Africa, $1.9 billion in Latin America and the Caribbean, and $449 million in South Asia in FY24 [21] - 65% of MIGA's projects in FY24 were in IDA-eligible countries, totaling $3.1 billion in guarantees, while 25% were in FCS, amounting to $945 million [21] - Climate finance was a significant focus, with 75% of projects contributing to climate mitigation or adaptation efforts, totaling $2.5 billion in guarantees [21] Climate and Sustainability Initiatives - MIGA surpassed its commitment to align 85% of its operations with the Paris Agreement, achieving 100% alignment in FY24 [26] - Notable climate projects included supporting Chile's largest state-owned enterprise in transitioning to renewable energy and Senegal's first 100% electric bus rapid transit system [27][78] - MIGA's guarantees are expected to prevent over 600,000 metric tons of CO₂ emissions annually and provide new or improved electricity services to 280,000 people [21] Gender and Social Impact - MIGA launched the World Bank Group Gender Strategy 2024-2030, focusing on gender equality and poverty reduction [28] - In FY24, MIGA supported projects that increased women's employment in technical and digital roles, enhanced women's leadership in the hospitality sector, and promoted gender equality in renewable energy projects [28][140][141] - MIGA's gender-flagged projects included increasing women's access to mobile internet and mobile money services, benefiting 2.2 million people and adding 12.2 million new subscribers to mobile money services [2][21] Financial and Operational Performance - MIGA's gross guarantee portfolio exposure stood at $31.5 billion as of June 30, 2024, with net guarantee exposure at $10.3 billion [74] - The World Bank Group committed $117.5 billion in FY24, including $8.2 billion from MIGA, to address global development challenges [14] - MIGA's net income in FY24 was $179.5 million, with gross premium income reaching $272.3 million [153] Innovation and Partnerships - MIGA launched the World Bank Group Guarantee Platform, aiming to boost annual guarantee issuance to $20 billion by 2030 [29][30] - The platform simplifies processes and provides a unified product menu, making it easier for clients to access guarantees [30] - MIGA partnered with the International Solar Alliance (ISA) and the International Renewable Energy Agency (IRENA) to scale up renewable energy projects [106][108]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Nepal's real GDP growth accelerated to 3.9 percent in FY24, up from 2 percent in FY23, driven by a surge in tourist arrivals and increased hydropower production [30][29] - Remittance inflows reached a nine-year high of 25.3 percent of GDP in FY24, significantly contributing to private consumption and overall economic stability [69][54] - The current account balance turned positive for the first time in eight years, with a surplus of 3.9 percent of GDP, attributed to increased remittances and reduced imports [70][54] Recent Economic Developments A.1 Real Sector - The services sector was the key driver of growth, with a 30.7 percent increase in tourist arrivals boosting transportation, accommodation, and food services [30][29] - Private consumption grew by 1.1 percent in FY24, supported by strong remittance inflows, while public investment remained weak due to low capital expenditure execution [30][47] - The agricultural sector grew by 3 percent, with paddy production increasing by 4.3 percent due to favorable conditions and improved fertilizer availability [36][30] A.2 External Sector - Merchandise imports decreased from 34.7 percent to 32.9 percent of GDP, while exports of goods and services increased to 7.6 percent of GDP [54][70] - The current account surplus was driven by a significant increase in remittances, which rose from 23.2 percent to 25.3 percent of GDP [54][69] - Foreign exchange reserves covered 13 months of imports by the end of FY24, well above the policy threshold of 7 months [57][54] A.3 Monetary and Financial Sector - The Nepal Rastra Bank (NRB) reduced the policy rate twice in FY24, first by 50 basis points to 6.5 percent and then by another 100 basis points to 5.5 percent [76][75] - The banking sector faced pressures with a non-performing loans (NPL) ratio reaching 3.8 percent, leading to increased loan-loss provisions [75][18] - Short- and medium-term nominal market interest rates declined, reflecting increased liquidity in the financial system [15][14] Special Focus: International Migration and Well-Being in Nepal - International migration is crucial for Nepal's economy, with remittances accounting for over one-fourth of GDP in FY24 [20][19] - Migration trends show that younger workers are disproportionately affected by unemployment, driving many to seek opportunities abroad [21][20] - The report emphasizes the need for reforms to maximize migration benefits, including reducing costs and improving domestic economic conditions for returnees [27][26]

Investment Rating - The report does not explicitly provide an investment rating for the fisheries sector in Vietnam Core Insights - Vietnam's fisheries sector is facing significant challenges, including declining fish stocks and vulnerabilities among workers, necessitating a multifaceted approach for sustainable development [1][6][7] - The integration of social protection and labor market policies is essential to support sustainable fisheries and enhance the resilience of communities dependent on this sector [7][18] Summary by Sections Introduction - Vietnam is a leading producer and exporter of aquatic products, with aquaculture contributing 57% of total production and 75% of total revenues [5][6] - Over 7 million people rely on livelihoods from the capture fisheries sector, with marine fisheries being a significant source of employment [5][6] Country Context - The marine economy contributes approximately 30% to Vietnam's national GDP, with fisheries and aquaculture accounting for 3.4% [10] - The fisheries sector is under pressure from overfishing, climate change, and illegal fishing practices, which threaten its sustainability and competitiveness [6][15] Social Protection and Labor Policies - Vietnam's social protection system has evolved but remains fragmented, with significant gaps in coverage, particularly for informal workers in the fisheries sector [18][19] - Social assistance spending is low, at around 0.86% of GDP, and only 3.5% of the population is covered by social insurance [19][22] Data and Methodology - The analysis utilizes data from the Vietnam Household Living Standard Survey (VHLSS) and the Vietnam Labor Force Survey (LFS) to assess socioeconomic vulnerability in the fisheries sector [30][31] Main Findings - The demographic profile indicates that fishing and aquaculture households are primarily located in the Mekong Delta and face high climate risks [36] - Employment in fisheries and aquaculture accounts for 3.3% of total employment, with inland aquaculture being the largest source of jobs [39] - Monthly income for fishing and aquaculture households averages US$174, higher than agriculture but lower than other sectors [47]