TECHNICAL NOTE Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized ID Meets Instant: Enabling Trusted, Inclusive Fast Payments through Digital ID FEBRUARY 2026 FINANCIAL SERVICES SECTOR Payment Systems Development Group © 2026 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org This volume is a product of the staff of the World Bank. The ...

International Patterns and Lessons for Developing Countries Matthew Wai-Poi, Mariano Sosa and Pierre Bachas Prosperity Insight Series TAXES, SPENDING AND EQUITY: POVERTY POVERTY | POVERTY POVERTY POVERTY | POVERTY | POVERTY POVERTY | POVERTY | POVERTY | POVERTY | POVERTY Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized POVERTY | POVERTY POVERTY | POVERTY | POVERTY | | POVERTY POVERTY | POVERTY | POVERTY POVERTY | POVERTY | | POVERTY POVERTY ...

Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized BURUNDI Beyond Connections Energy Access Diagnostic Report Based on the Multi-Tier Framework BURUNDI Beyond Connections Energy Access Diagnostic Report Based on the Multi-Tier Framework Nicolina Angelou, Aditi Sadia Rahman, and Bryan Bonsuk Koo About ESMAP The Energy Sector Management Assistance Program (ESMAP) is a partnership between the World Bank and over 20 partners to help low- and middl ...

Finance, Competitiveness and Investment Global Department SCFI Trust Fund Phase 3 Impact Assessment Report Catalyzing Transformation: Financial Sector Resilience and Innovation-Led Growth Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized 1 SEPTEMBER 9, 2025 Finance, Competitiveness and Investment Global Department © 2025 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202- ...

Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Understanding and Unlocking State-Level Growth Potential in Malaysia CONNECT WITH US bit.ly/WBMYblogs @WB_AsiaPacific @WorldBankMalaysia worldbank.org/malaysia | ifc.org | miga.org Understanding and Unlocking State-Level Growth Potential in Malaysia © 2026 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Interne ...

Migration, Growth, and Poverty Reduction in Rural China: Retrospect and Prospects John Giles and Ren Mu Rural-to-urban migration is a transformative force in economic development and the un- precedented scale of China's experience offers valuable insightfor other countries. We draw comparisons with international findings as we review empirical evidence on the impacts of migration on rural migrant-sending communities. We begin by examining how institu- tional factors, particularly household registration syst ...

Firm-Level Adaptation to Climate Change in Low- and Middle-Income Countries Ana Goicoechea and Megan Lang The effects of climate change are disproportionately concentrated in low- and middle- income countries (LMICs). Firms have incentives to adapt to climate change, but mar- ket frictions common in developing country contexts may hinder firm adaptation efforts. This paper reviews microeconomic, empirical evidence on the impacts of climate change on firms in LMICs and firm-level adaptation strategies. Curre ...

Policy Research Working Paper 11317 Wage Subsidies to Promote Female Hiring Evidence from Pakistan Maurizio Bussolo Jean Lee Mahreen Mahmud Nayantara Sarma Anaise Williams South Asia Region Office of the Chief Economist February 2026 A verified reproducibility package for this paper is available at http://reproducibility.worldbank.org, click here for direct access. Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Policy Research Working Pape ...

Investment Rating - The report does not explicitly provide an investment rating for the industry analyzed Core Insights - The paper investigates how shifts in investor demand, particularly from institutional investors, influence firm financing and investment decisions, utilizing a significant MSCI methodological reform as a case study [2][10][18] - The findings indicate that firms experiencing larger predicted inflows due to the MSCI rebalancing increased both equity and debt issuance, with a notable emphasis on debt financing [14][15][18] - The research highlights that institutional investor demand shocks not only affect asset prices but also significantly shape corporate financing and investment behaviors [18][22] Summary by Sections Introduction - The amount of assets managed by institutional investors has grown significantly, reaching 132% of global GDP by 2020, up from 84% in 2004, making them central to global capital allocation [7] - Increased demand for equities from institutional investors can lower firms' cost of equity capital, potentially expanding their investment capacity [7][9] Institutional Setting - The MSCI indexes are crucial benchmarks for institutional investors, with firms included in these indexes accounting for about 50% of total capital raised in equity and debt markets between 2010 and 2015 [25] The 2000-2002 Rebalancing - The MSCI rebalancing involved a shift from total to free-float market capitalization, affecting 2,508 firms across 49 countries, leading to significant changes in investor demand unrelated to firm performance [11][27] Changes in Investor Demand and Capital Raising Activity - Firms with positive predicted inflows raised significantly more capital post-reform, with a 1.5 percentage point increase in capital raised over market capitalization compared to firms with negative inflows [46] - The increase in issuance was evident in both equity and debt markets, with firms raising about 0.4 percentage points more equity and 0.8 percentage points more debt [47] Investment Responses - Firms with positive predicted inflows increased total investment by about 3 percentage points relative to firms with negative inflows after the reform, with significant increases in capital expenditures, mergers and acquisitions, and research and development [60][61] - The allocation of funds raised in capital markets showed that a median firm allocated approximately 62 cents to acquisitions for every dollar raised, indicating a strong focus on M&A [65]

Investment Rating - The report does not explicitly provide an investment rating for the industry analyzed Core Insights - The report highlights that digital skills command substantial wage premiums globally, particularly in low- and middle-income countries where such competencies are scarce. Requiring at least one digital skill raises advertised wages by an average of 1.6%, with returns of 1.3% in high-income countries and 7.5% in low- and middle-income countries. Each additional digital skill increases wages by 0.5% in high-income countries and 2.6% in low- and middle-income countries. Advanced skills yield even higher premiums, with traditional AI skills offering returns of 2.9% across all countries, and generative AI skills demonstrating the highest premiums, reflecting their productivity potential and current scarcity [5][15][18]. Summary by Sections Introduction - The report discusses the transformative impact of digital technologies on labor markets and the increasing demand for digital skills, emphasizing the need to reassess which digital competencies remain economically valuable as basic skills may no longer suffice [11][12]. Data and Methodology - The analysis utilizes a dataset of over 67 million online job postings from 29 countries between 2021 and 2024, allowing for a detailed examination of wage returns to digital skills across various dimensions [14][31]. Findings - Jobs requiring digital skills are associated with significantly higher advertised wages, with a wage premium of 1.6% for requiring at least one digital skill. The premium is notably higher in low- and middle-income countries, reaching 7.5% [15][57]. - Each additional digital skill correlates with a 0.5% wage increase globally, and 2.6% in low- and middle-income countries, indicating a strong demand for digital competencies [60]. - Returns vary by skill type, with traditional AI skills yielding a 3% wage increase per skill, while generative AI skills command premiums of 7%–9% in technical roles and 25%–36% in non-technical roles [18][19]. Conclusion - The findings underscore the critical importance of digital skills for individual earnings and economic development, particularly in low- and middle-income countries, highlighting the need for targeted training and education to bridge the digital skills gap [5][19].