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Mobility and Transport Connectivity Series Performance-based contracts for in the State of Bahia Road Rehabilitation and Maintenance Eric Lancelot Joanna Moody Gabriel Pereira Caldeira Carlos Garzón Guinea Carlos Augusto Costa David Anibal Coelho da Costa Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Performance-based contracts for Road Rehabilitation and Maintenance in the State of Bahia 3 © 2026 The World Bank 1818 H Street NW, Washingt ...

Investment Rating - The report does not explicitly state an investment rating for the energy and mining sector. Core Insights - Emerging electricity markets face inherent volatility and market power risks, necessitating the implementation of vesting contracts as transitional financial hedging measures to stabilize generation revenues and protect retailers and consumers from price shocks [2][3]. - Historical mismanagement of market transitions has led to severe consequences, as seen in the UK and California, highlighting the importance of establishing effective transitional mechanisms to mitigate risks associated with market power and price volatility [5][6]. - Vesting contracts are identified as a more effective hedging tool compared to price caps, as they provide a balanced risk management framework while maintaining market signals for new entrants [14][21]. Summary by Sections Section on Transitional Mechanisms - Various options exist for managing the value of generation assets and protecting buyers during market development, including one-time payments to generators or retailers to cover stranded costs [8]. - Setting relatively low market price caps can protect consumers but may discourage investment signals for new capacity and weaken operational reliability incentives for flexible units [9][10]. Section on Vesting Contracts - Vesting contracts serve as a comprehensive transitional mechanism, executed between existing generators and retailers, with the government acting as a designer and counterparty [12][16]. - These contracts stabilize generation revenues around a reasonable long-term reference price, protect retailers and consumers from extreme price fluctuations, and reduce incentives for generators to exercise market power [17][21]. Section on International Examples - Singapore's introduction of vesting contracts in 2004 successfully mitigated market power and ensured revenue stability, initially covering about 65% of total demand [36][37]. - In Western Australia, vesting contracts were used to manage the dominant position of a state-owned utility, ensuring financial viability while allowing for the entry of independent generators [38][39]. - The UK’s experience in the 1990s serves as a cautionary tale, where contracts designed to support the coal industry led to significant market power abuse and price increases [41]. Section on Risk Management Tools - The report emphasizes the importance of designing vesting contracts to maintain efficient dispatch incentives while providing income stability, thus facilitating the integration of renewable energy sources [46][47].

Investment Rating - The report does not explicitly provide an investment rating for the health sector in Cameroon, but it emphasizes the need for targeted policy interventions to improve health equity and access, particularly for vulnerable populations. Core Insights - Cameroon has made significant progress towards Universal Health Coverage (UHC), with the UHC Service Coverage Index doubling from 22 in 2000 to 44 in 2021, yet it still lags behind the averages for low- and middle-income countries (58) and the global average (68) [5][6] - The report highlights the importance of addressing health inequities, as disparities in access, service coverage, and financial protection persist across socioeconomic and geographic lines [6][7] - The findings from the Country Equity Diagnostic (CED) aim to guide policymakers and stakeholders towards reforms that ensure no individual is left behind in health improvements [7] Summary by Sections Background - Cameroon has made notable advancements in UHC, but significant opportunities for improvement remain, particularly in addressing disparities in health access and financial protection [5] Methods - The CED utilizes data from various household surveys to analyze health-related inequalities, focusing on health status, efficiency, access, and financial risk protection [11] Results - Key findings indicate that health improvements have been largely pro-poor, with significant progress in health status and service coverage driven by economically disadvantaged populations [12] - However, the poorest populations still lag in service coverage, particularly in immunization, and face high rates of foregone care due to financial and geographic barriers [12] - Geographic disparities are evident, especially in the North and Far North regions, which show worse health outcomes and service coverage [12] System Performance Goals - Health status and financial risk protection are critical performance goals, with the report emphasizing the need for policies that reduce out-of-pocket spending and improve access to quality care [14] Health Status - Infant and under-five mortality rates have declined, with improvements more pronounced among poorer populations, although inequalities in child mortality remain significant [15] - Childhood nutrition has seen modest improvements, but stunting and wasting rates remain high, particularly among low socioeconomic groups [19] Financial Risk Protection - Over half of the population reports out-of-pocket health spending, with the wealthiest quintiles spending more overall, while financial hardship is concentrated among poorer households [24][28] - The top 5% of spenders account for 50% of total health expenditure, highlighting the concentration of health spending among a small portion of the population [28] Intermediate Performance Objectives - Service coverage for reproductive, maternal, newborn, child, and adolescent health services has generally improved, but disparities persist, particularly in access to antenatal care and immunization [36] - Access barriers are significantly higher among the poorest households, with longer travel times to health facilities compared to wealthier households [39] Conclusions and Policy Implications - The CED provides evidence to target policies addressing health inequities, emphasizing the need for interventions that consider socioeconomic and geographic disparities [43] - Proposed policy design considerations include financing strategies, payment adjustments, and community outreach programs to improve service coverage among vulnerable populations [44][45]

Investment Rating - The report does not explicitly provide an investment rating for the industry or the project. Core Insights - The reconstruction of Princess Juliana International Airport (PJIA) represents a significant disaster recovery effort, showcasing how effective leadership and stakeholder engagement can transform setbacks into opportunities [18][22] - PJIA is crucial for Sint Maarten's economy, contributing 45% to GDP and generating 73% of foreign exchange revenues, highlighting its importance as a critical infrastructure asset [20][22] - The case study offers valuable lessons for disaster-prone regions, emphasizing the need for resilience and recovery strategies that can be applied globally [22][49] Summary by Sections Executive Summary - The reconstruction of PJIA exemplifies a comprehensive recovery effort following the devastation caused by Hurricanes Irma and Maria in 2017, culminating in the terminal's reopening in November 2024 [18][19] Introduction - The case study documents the challenges and successes of PJIA's recovery, emphasizing the airport's role as a vital economic lifeline for Sint Maarten [63][64] Hurricane Impact Overview - Hurricanes Irma and Maria caused extensive damage to PJIA, with damages estimated at US$1.38 billion, significantly impacting the island's economy and tourism sector [83][84] Reconstruction Process - The reconstruction involved multiple phases, with initial responses focusing on repairing critical infrastructure and gradually restoring passenger processing capacity [30][34][38] - Financing for the reconstruction was complex, requiring a blend of resources from various stakeholders, including the Government of Sint Maarten and international partners [34][35] Implementation Challenges - The project faced numerous challenges, including leadership vacuums, financial uncertainties, and the impacts of the COVID-19 pandemic, which extended the recovery timeline to seven years [33][41][42] Lessons Learned - Key lessons include the importance of disaster preparedness, financial resilience, and the need for robust governance structures to support recovery efforts [50][52][58] - The project demonstrated the effectiveness of innovative procurement approaches and stakeholder engagement in achieving successful outcomes [44][45][48] Future Recommendations - The report emphasizes the need for ongoing investment in infrastructure resilience, diversified revenue streams, and comprehensive disaster recovery plans to enhance future preparedness [53][56][58]

Investment Rating - The report does not explicitly provide an investment rating for the industry discussed Core Insights - Business upgrading programs in developing economies yield significant benefits for male entrepreneurs but limited impacts for female entrepreneurs, highlighting concerns of efficiency and equity [5][11] - The study introduces a Program Readiness Scorecard (PRS) to identify entrepreneurs most likely to benefit from business upgrading programs, demonstrating that targeted interventions can close the gender program gap [5][19] - Targeting women in the top quartile of the PRS distribution results in performance returns statistically indistinguishable from those of male entrepreneurs, effectively closing the gender gap [5][18] Summary by Sections Introduction - The report discusses the disparity in revenue and profitability between male and female entrepreneurs, emphasizing the need for targeted business upgrading programs [11][12] - It highlights the significant investments made in these programs, particularly aimed at supporting women, yet notes the limited returns for female entrepreneurs [11][12] Conceptual Framework - The gender program gap is attributed to tighter credit constraints and lower baseline entrepreneurial ability for women, which limits their ability to capitalize on business upgrading programs [12][21] - The PRS is developed to target female entrepreneurs who are "program ready," thereby increasing the likelihood of positive outcomes from interventions [14][42] Methodology - The study utilizes data from randomized controlled trials in Uganda, South Africa, and Mexico, involving 2,595 entrepreneurs, with a focus on evaluating the effectiveness of the PRS [15][49] - The PRS is based on ten observable factors that indicate entrepreneurial readiness, allowing for targeted selection of participants [14][46] Findings - The analysis reveals a significant gender program gap, with male entrepreneurs experiencing substantial gains while female entrepreneurs see negligible returns [18][74] - Implementing gender-neutral screening improves outcomes for women, but they still lag behind men in terms of program returns [78] - Targeting high-PRS women completely closes the gender program gap, demonstrating the effectiveness of the PRS approach [18][79] Policy Implications - The PRS can be used to enhance program outcomes for women-led firms and identify those needing additional support before engaging in high-value initiatives [5][20] - The findings suggest that the PRS is a cost-effective and operationally simple tool for targeting entrepreneurs with the greatest potential for growth [20][21]

Investment Rating - The report does not explicitly provide an investment rating for the industry under analysis. Core Insights - The empirical assessment of Saudi Arabia's industrial policy reveals no statistically significant impact on exports during the sample period, indicating that structural transformation and export upgrading typically require long-term horizons [2][15][79] - Industrial policy interventions have led to a reduction in the number of active firms, suggesting a shift in firm composition within the industry [15][84] - Local content requirements have resulted in increased employment but decreased capital investment, while domestic subsidies have shown transitory declines in earnings [16][90] Summary by Sections Introduction - Saudi Arabia's economic transformation is characterized by a shift from a rentier model reliant on oil to a diversified economy, with industrial policy playing a central role in this transition [7][8] - The Vision 2030 framework aims to establish Saudi Arabia as a "Global Industrial Powerhouse" through various strategic programs [8] Industrial Policy Landscape - Saudi Arabia has announced a high number of industrial policy measures compared to other Gulf Cooperation Council (GCC) countries, particularly from 2018 to 2020 [14][45] - The predominant use of domestic subsidies and export-related measures characterizes the policy mix, with a shift in sectoral targeting from extractive industries to more complex manufacturing activities [14][48] Empirical Evaluation - The analysis employs a staggered Difference-in-Differences methodology to evaluate the impact of industrial policy on export volumes and firm-level outcomes [10][73] - The findings indicate that while industrial policies have not significantly affected export performance, they have led to a decrease in the number of active firms and modest changes in employment and capital investment [15][84][90] Domestic Outcomes - On the extensive margin, industrial policy interventions have resulted in a statistically significant decline in the number of active firms, while average firm age remained unchanged [84] - On the intensive margin, employment showed positive trends, but capital investment and earnings exhibited negative trends, indicating a complex relationship between policy interventions and firm performance [87][90]

Investment Rating - The report does not explicitly provide an investment rating for the industry under review Core Insights - The paper investigates the balance between career and family for college-educated women in Indonesia, highlighting increasing polarization in choices among younger cohorts, with some delaying marriage and others opting out of the labor force post-marriage [3][16] - The findings suggest that rapid economic growth in Indonesia has led to a divergence in women's choices, influenced by the entry of more women into high-skilled professions and rising conservatism among young men, creating challenges in the marriage market [3][14] Summary by Sections Introduction - The report discusses the stagnation of female labor force participation in low- and middle-income countries despite economic growth, challenging the U-shaped hypothesis of female labor participation [11][12] - It emphasizes the role of family formation decisions in mediating female labor supply and the implications for gender equality in emerging economies [12][14] Background Contexts and Data - Indonesia is identified as a rapidly growing economy with significant improvements in female higher education, with female enrollment in tertiary education surpassing male enrollment since 2012 [20][22] - The analysis utilizes data from the Labor Force Survey and the Indonesia Family Life Survey to examine labor market dynamics and family formation across different birth cohorts [23][24] Empirical Strategy - The report adapts Goldin's framework to analyze the stages of career and family decisions among college-educated women in Indonesia, focusing on the evolution of these dynamics across birth cohorts [27][30] - It employs a regression framework to assess labor market and family formation outcomes, allowing for a detailed examination of the interplay between these factors [44][72] Evolution of Family Formation and Labor Market Dynamics - Marriage trends indicate a rising delay in marriage among college-educated women, particularly from the 1990s birth cohorts, suggesting a shift in societal norms [46][48] - Labor force participation rates fluctuate but show a tendency for younger cohorts to remain in the labor force longer while delaying family formation [53][58] - The analysis reveals a polarization in outcomes, with younger cohorts increasingly specializing in either career or family, rather than balancing both [78][87] Potential Drivers - The report identifies "greedy work" as a significant factor contributing to the challenges faced by women in balancing career and family, alongside rising conservatism among men affecting marriage market dynamics [88]