Investment Rating - The report does not explicitly provide an investment rating for the industry discussed Core Insights - Ethiopia has increased paid maternity leave from 90 to 120 days and introduced three days of paid paternity leave in 2019, reflecting a significant reform in parental leave policies [1][16][24] - The report emphasizes the importance of job-protected leave for both parents, which is critical for health, economic, and social development outcomes [1][5] - Ethiopia's experience serves as a potential model for other countries aiming to enhance their parental leave policies [5][24] Summary by Sections Maternity and Paternity Leave Policies - In 2019, Ethiopia's Labor Proclamation No. 1156/2019 established 120 days of maternity leave and three days of paternity leave for private sector workers [16][24] - The average global maternity leave is only 14 weeks, with Sub-Saharan Africa having a lower percentage of countries with such policies [5][12] Socioeconomic Context - Ethiopia's rapid economic growth, with an average annual growth rate of 9.5% over the past 15 years, has influenced labor reform demands [18][19] - The political transition in Ethiopia created a conducive environment for comprehensive legal reform, including labor laws [23][24] Stakeholder Engagement - The reform process involved tripartite negotiations among the Confederation of Ethiopian Trade Unions, Ethiopian Employers' Federation, and the government, highlighting the role of social dialogue [25][26] - Trade unions played a crucial role in advocating for extended maternity leave and the introduction of paternity leave, emphasizing equal treatment for all workers [35][36] Implementation Challenges - The report identifies challenges in disseminating the new Labor Proclamation and ensuring compliance among employers [44][46] - There is a lack of data on the uptake of maternity and paternity leave, which complicates the assessment of the reform's effectiveness [46][48] Lessons Learned - Key lessons from Ethiopia's reform experience include the importance of stakeholder alignment, political transition, and the use of evidence to support policy changes [49][50] - The report suggests that adequate paid leave policies can enhance social welfare and economic performance, countering the notion that they impede foreign investment [49][50]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The physical characteristics of learning spaces significantly impact education quality and student learning outcomes, explaining approximately 16 percent of the variation in student performance for children aged 5 and older [19][44] - Quality early learning environments are essential for children's development, ensuring they feel safe, empowered, and free to learn actively [19][44] - Play-based learning is crucial for young children's knowledge and skills acquisition, emphasizing the need for environments that promote play, exploration, and hands-on learning [20][45] - There is a robust demand from country governments to expand access to quality pre-primary education through infrastructure investments, with 40 percent of the World Bank's education portfolio dedicated to upgrading or introducing new education facilities [23][41] Summary by Sections Executive Summary - The report highlights the significant impact of physical learning environments on educational outcomes, particularly in early childhood education [19] - It emphasizes the importance of play-based learning and the need for environments that support such educational approaches [20] Introduction - The guidance note aims to assist World Bank teams in supporting governments in designing and building environmentally sustainable pre-primary education facilities that promote quality early education [31] Quality Physical Learning Environments - Quality physical learning environments are linked to improved educational outcomes, with specific characteristics influencing learning [44] - The report identifies five principles for quality early learning spaces: safety, pedagogical organization, spatial flexibility, empowerment, and child-centered design [44] Play-based Approach - Play is a fundamental method for young children to gain knowledge and skills, with various forms of play contributing to cognitive, social, emotional, and physical development [45] - The report discusses the importance of well-planned play environments, such as corner play, in enhancing child development [45] Environmentally Sustainable Educational Infrastructure - The report outlines the need for environmentally sustainable infrastructure in education, linking it to climate resilience and reduced greenhouse gas emissions [50][52] - It emphasizes the importance of integrating green design practices in educational infrastructure projects to create healthier environments and conserve natural resources [51] The Role of Key Stakeholders - Key stakeholders in World Bank projects include government entities, communities, and experts in relevant fields, all of whom play a role in the planning and implementation of pre-primary education infrastructure [55][56] Preparation and Planning - The preparation phase involves assessing the need for early childhood care and education (ECCE) facilities, determining scope and costs, and establishing criteria for site selection [25][26] - A design brief is prepared to guide architects and designers, ensuring alignment with educational and environmental goals [70] Design - The design phase focuses on developing standards and criteria for pre-primary facilities, considering safety, accessibility, and environmental sustainability [71] Construction - The construction phase includes preparing bid packages and selecting contractors, with an emphasis on environmentally efficient practices [72] Operations and Maintenance - Sustainability of educational facilities relies on proper maintenance and usage, with a focus on planning and budgeting for ongoing operations [73]

Investment Rating - The report does not explicitly provide an investment rating for the industry under review. Core Insights - The primary obstacles faced by firms in the EU27 are an "inadequately educated workforce" and "tax rates," with the former cited in 99 out of 186 NUTS2 regions and the latter in 51 regions, indicating that nearly 74% of regions identify one of these two issues as their top concern [21][23][28] - Economic disparities within the EU27 are more pronounced at the sub-national level than at the country level, with the highest-income NUTS2 regions earning 2.7 times more than the lowest-income regions, compared to a 2.4 times difference at the country level [2][3] - The European Union has implemented targeted funds to promote regional convergence, but the success of these initiatives has been uneven, and the pace of convergence has slowed in recent years [4][8] Summary by Sections Business Environment Assessment - The World Bank Enterprise Surveys (WBES) provide a comprehensive view of the business environment across the EU27, with nearly 19,000 interviews conducted with business leaders from 2018 to 2022 [11][13] - The surveys reveal that firms' perceptions of obstacles are critical for understanding the business environment, with a focus on the top obstacles identified by firms [21][22] Regional Disparities - The report highlights significant income disparities among sub-national regions, with poorer regions more likely to cite tax rates as their primary obstacle, while wealthier regions focus on workforce education [28][31] - The analysis indicates that country-level factors play a more significant role in determining firms' perceptions of obstacles than regional characteristics [31][32] Firm-Level Analysis - More productive firms are less likely to report workforce education or tax rates as their top obstacles, suggesting that productivity may mitigate the impact of these issues [37][39] - Larger firms tend to report an inadequately educated workforce as a top obstacle but are less likely to cite tax rates, indicating a complex relationship between firm size, productivity, and perceived obstacles [37][40] Future Research Directions - The report sets the stage for future briefs that will delve deeper into the relationship between firm performance, management practices, and the broader business environment in the EU27 [41][42]

Investment Rating - The report does not explicitly provide an investment rating for the electricity distribution industry Core Insights - The operations concession model is presented as a viable alternative to full privatization, allowing for private sector efficiencies while retaining government ownership of assets [22][25] - The report emphasizes the importance of private sector participation (PSP) in improving operational performance and addressing challenges faced by state-owned utilities [15][20] - Case studies from Côte d'Ivoire and India illustrate the successful implementation of operations concessions, highlighting the model's adaptability to local contexts [58] Summary by Sections 1. Introduction - The report discusses the historical context of power sector reforms initiated in the 1990s, aimed at creating commercially viable utilities through restructuring and private sector involvement [13][14] 2. The Operations Concession Model in Electricity Distribution - The operations concession model allows a private concessionaire to manage electricity distribution while the public utility retains ownership and responsibility for power procurement [27] - A comparison of various private sector participation models indicates that operations concessions provide a balanced risk allocation between public and private sectors [40][41] 3. Case Studies: Existing Operations Concessions - Côte d'Ivoire's concession model evolved from a public utility to a private operator, demonstrating the effectiveness of the operations concession in managing electricity distribution [59][60] - India’s input-based distribution franchises serve as another example of successful operations concessions, showcasing the model's flexibility [58] 4. Structuring Options and Parameters for Operations Concessions - Key parameters for structuring operations concessions include setting performance targets, treatment of assets, and regulatory oversight [4][38] - The remuneration model for concessionaires typically includes compensation for operations and maintenance costs, with performance incentives linked to operational improvements [38][72] 5. Limitations and Extensions - The report notes that while operations concessions can improve efficiency, they should be part of a broader reform strategy to address systemic issues in the electricity sector [52][53]

Investment Rating - The report does not explicitly provide an investment rating for the agricultural sector in Brazil and São Paulo Core Insights - The agricultural sector in Brazil has shown resilience and growth, contributing significantly to GDP despite overall economic slowdowns, with a Compound Annual Growth Rate (CAGR) of 8.6% from 2011 to 2020 [35] - Agricultural exports increased by 35.6% in 2022 compared to the previous year, highlighting the sector's importance in the economy [54] - The report emphasizes the need for policies that enhance competitiveness, sustainability, and inclusivity in the agrifood sector [27] Economic Performance of the Agricultural Sector - Brazil's GDP was recorded at 7.6 trillion reais in 2020, with a growth rate of 3.0%, a significant decrease from 12.6% in 2011 [31] - The agricultural sector's value added grew by 39.9% in 2020, indicating its dynamic role in the economy [35] - In 2020, the agricultural sector contributed 5.7% to Brazil's total GDP, an increase of 1.6 percentage points over ten years [37] Evaluation of Agricultural Support in São Paulo (2017-2021) - The report utilizes OECD methodology to assess monetary transfers to agriculture in São Paulo, focusing on Producer Support Estimates (PSE), Consumer Support Estimates (CSE), Total Support Estimates (TSE), and General Service Support Estimates (GSSE) [79] - The analysis covers the impact of state government agricultural policies on producers and consumers, excluding national policies [79] - The PSE for São Paulo includes market price support and budget support, with a focus on key products like orange, soybeans, sugar, beef, and pork [100]

Investment Rating - The report does not explicitly provide an investment rating for the agricultural sector in Brazil or Santa Catarina Core Insights - The agricultural sector in Brazil has shown resilience during economic downturns, contributing significantly to GDP and food security, particularly during the COVID-19 pandemic [28][36] - Santa Catarina's agricultural sector has experienced dynamic growth, with a notable increase in agricultural exports and contributions to the state's economy [75][56] - The report emphasizes the need for public policy reforms to enhance competitiveness, sustainability, and inclusivity in the agrifood sector [31][75] Summary by Sections Economic Performance of the Agricultural Sector - Brazil's GDP growth has slowed, with a recorded GDP of 7.6 trillion reais in 2020, reflecting a 3.0% annual growth rate, down from 12.6% in 2011 [33][34] - The agricultural sector's value added grew by 39.9% in 2020, significantly outperforming other sectors, and contributed 5.7% to the total GDP [36][40] - Santa Catarina contributed 4.6% to Brazil's GDP in 2020, showing an increase from 4.0% in 2011 [44] Evaluation of Support for Agriculture in Santa Catarina - The report evaluates monetary transfers to agriculture in Santa Catarina from 2017 to 2021, using OECD methodologies to estimate Producer Support Estimates (PSE), Consumer Support Estimates (CSE), and Total Support Estimates (TSE) [82][84] - The PSE for Santa Catarina reflects the annual monetary value of transfers to agricultural producers, while the CSE indicates the impact of policies on consumers [85][86] - The TSE quantifies all gross transfers resulting from agricultural support policies, providing insights into the overall support landscape for the sector [88][89] Recommendations - The report suggests reforms aimed at fostering a competitive, green, and resilient agricultural sector in Santa Catarina, highlighting the importance of adapting public policies to current economic realities [31][75]

Investment Rating - The report does not explicitly provide an investment rating for the agricultural sector in Bahia Core Insights - The agricultural sector in Bahia has shown significant growth and resilience, particularly during the COVID-19 pandemic, contributing to food security and economic stability [29][36][76] - The report emphasizes the need for policies that enhance competitiveness, sustainability, and inclusivity in the agrifood sector [29][86] Economic Performance of the Agricultural Sector - Brazil's GDP growth has slowed, with a recorded GDP of 7.6 trillion reais in 2020, reflecting a 3.0% annual growth rate, down from 12.6% in 2011 [33] - The agricultural sector's value added has been dynamic, with a 39.9% annual variation in 2020, contributing 5.7% to Brazil's total GDP [36][38] - Bahia's GDP growth decreased from 7.9% in 2011 to 4.1% in 2020, with the agricultural sector increasing its contribution to the state's economy from 6.9% to 9.2% during the same period [73][79] Evaluation of Support for Agriculture in Bahia (2017-2021) - The report utilizes OECD methodology to assess monetary transfers to agriculture, focusing on Producer Support Estimates (PSE), Consumer Support Estimates (CSE), Total Support Estimates (TSE), and General Service Support Estimates (GSSE) [86][90] - The PSE for Bahia is based on market price support and budget support, with a focus on key products like cocoa, cotton, and soybeans, which represent 47% of the state's agricultural production value [100][109] Summary and Recommendations - The report concludes with recommendations for repurposing public policies to foster a competitive, green, and resilient agricultural sector in Bahia, addressing the impacts of past policies and external factors [29][86]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The report introduces the concept of Massive Modular Ecosystems (MMEs) as a framework for understanding the complexity of digital industries, emphasizing the interplay between modular and non-modular governance structures [4][17][49] - It highlights the mobile phone industry as a case study, illustrating how MMEs enable distributed innovation and rapid scaling across interconnected sub-ecosystems [4][19][49] - The report discusses the implications of MMEs for market structure, technological innovation, and global economic geography, noting the risks associated with aggressive policy interventions and the challenges of building self-sufficient domestic industries [4][18][49] Summary by Sections 1. Introduction - The global economy is transforming due to digitization and modularization, leading to interconnected industries that challenge traditional governance models [17][18] 2. Literature Review - The literature on modularity, global value chains (GVCs), and business ecosystems is reviewed, identifying gaps in understanding the complexity of modern industries [22][41] 3. Toward an Integrated Governance Framework - A unified analytical framework is proposed to capture the layered and nested nature of MMEs, emphasizing the importance of both modular and non-modular governance structures [48][49] 4. The Mobile Phone Industry as a Massive Modular Ecosystem - The mobile phone industry is analyzed to demonstrate the dynamics of MMEs, focusing on subsystem design, production, and distribution [4][19][58] 5. Technology and Innovation, Market Structure, and Geographic Outcomes - The report discusses how MMEs influence technological innovation, market structure, and geographic clustering, highlighting the interdependencies created by modular governance [5][18][20] 6. Discussion - The implications for theory, strategic management, and policy are explored, emphasizing the need for a nuanced understanding of governance structures in complex industries [6][21][30] 7. Conclusion - The report concludes by reiterating the significance of MMEs in navigating the complexities of digital industries and the importance of understanding governance dynamics [21][30]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The economy continues to recover, with growth, fiscal balances, and external buffers exceeding expectations in 2024. However, household incomes, employment, and non-monetary welfare remain well below pre-crisis levels [20] - Medium-term growth is expected to remain modest due to the scarring effects of the crisis, structural impediments to growth, and significant global economic uncertainties [20] - Continued macroeconomic stability and successful implementation of structural reforms are crucial for medium-term growth and poverty reduction [20] Context - The Sri Lankan economy is emerging from its worst post-independence economic crisis, characterized by a sharp economic contraction, high inflation, currency depreciation, and a rapid fall in international reserves [21] - The government implemented a series of reforms to restore macroeconomic stability, including cost-reflective utility pricing, new revenue measures, and prudent monetary policy [23] - Following these reforms, the economy began to stabilize from mid-2023, with positive quarterly GDP growth, easing inflation, and improved public debt-to-GDP ratios [24] Recent Developments - The economy grew by 5 percent in 2024, surpassing the previous projection of 4.4 percent [30] - Growth was driven by a rebound in industry (11 percent y-o-y) and a strong performance in tourism-related services (2.4 percent y-o-y) [32] - Inflation dropped significantly, reaching -4.2 percent y-o-y in February 2025, driven by adjustments in energy prices and subdued household demand [38] Fiscal Performance - The primary balance recorded a surplus of 2.2 percent of GDP, surpassing expectations [73] - Tax revenues increased from 9.9 to 12.4 percent of GDP between 2023 and 2024, primarily driven by VAT collections [77] - The fiscal deficit is estimated to have fallen to 6.8 percent of GDP, limited by a high interest bill amounting to 9 percent of GDP [79] Debt Indicators - The stock of public and publicly guaranteed (PPG) debt is estimated to have fallen from 111.7 percent of GDP at end-2023 to 102.4 percent at end-2024 [85] - Debt restructuring has made significant progress, with bilateral agreements being finalized to restructure US$10 billion of official and Exim Bank of China debt [90] Poverty and Vulnerability - The poverty rate was 24.5 percent in 2024, nearly double what it was in 2019, with household incomes remaining below pre-crisis levels [93] - Malnutrition increased, raising concerns over long-term impacts on human capital formation [94] - Employment and real wages remain below pre-crisis levels, contributing to increased emigration [98] Outlook - Medium-term growth is expected to be modest at around 3.1 percent, with the current account projected to revert to a modest deficit in 2025 [103] - Poverty is expected to decline to 22.7 percent in 2025, but the economic crisis is anticipated to have reversed a decade of poverty reduction [104] - Continued macro stability and successful implementation of structural reforms are critical for growth and poverty reduction [111]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Understanding the heterogeneity of poor households in Pakistan is crucial for identifying pathways out of poverty through targeted policy actions [4][12] - The analysis categorizes the bottom 40th consumption percentile of households (B40) into five distinct groups using non-parametric hierarchical cluster analysis [4][16] - The findings indicate that poverty is not uniform and varies significantly across different groups, necessitating differentiated policy interventions [12][16] Summary by Sections Introduction - Between 2001 and 2018, Pakistan experienced a 60% growth in household real consumption, leading to a decline in poverty from 64.3% to 21.9% [7] - Despite the overall decline in poverty, significant disparities remain across provinces and between urban and rural areas [8][10] Data and Methodology - The analysis utilizes data from the Household Integrated Economic Survey (HIES) 2018-19, covering 24,809 households [20][22] - A hierarchical clustering method is employed to identify distinct groups within the B40 based on various household characteristics [14][55] Results - Five meaningful clusters among the B40 households are identified: 1. Ultra-poor rural households relying on unskilled sharecropping and public safety nets [16][57] 2. Poor rural households engaged in agriculture as owner-cultivators [16][64] 3. Households in transition between agriculture and service provision [16][64] 4. Urban households with higher education and semi-skilled jobs in industry and services [16][64] 5. Poor households engaged in unskilled daily wage labor in construction and services [16][64] - The asset framework of shared prosperity is used to analyze the characteristics and constraints of each group [62][65] Group Characteristics - Group 1 consists of remote, rural, shock-prone households with low education and asset ownership [73][82] - Group 2 includes rural households involved in on-farm activities, showing better asset ownership and human capital compared to Group 1 [85][92] - Group 3 represents remittance-receiving households with low employment, often missing a working member who has migrated [93][95] - Group 4 comprises urban households with higher education and asset ownership, performing better than the national average [96]