Investment Rating - The report does not explicitly provide an investment rating for the cooperative financial institutions (CFIs) sector. Core Insights - Cooperative financial institutions (CFIs) have significant potential to enhance financial inclusion in underserved areas, particularly in rural and marginal urban regions. However, many CFIs struggle to reach their full potential due to inadequate regulation and supervision, weak financial safety nets, and other operational challenges [16][17][24]. Summary by Sections Background and Objective of the Project - The project aims to strengthen CFIs by improving their regulatory and supervisory frameworks and financial safety nets, which are essential for financial inclusion and rural development [29][30]. Project Objective and Main Activities - The project employed a parallel approach in Colombia, Ethiopia, and West Africa, focusing on regulatory reforms and technical support to enhance CFIs' operational capabilities [32][36]. Selection Process of Pilot Countries/Jurisdictions - Colombia, Ethiopia, and West Africa were selected based on their potential for public sector engagement, the relevance of the CFI sector, and existing relationships with stakeholders [41][43]. Colombia - Colombia has 176 CFIs serving approximately 3.6 million members, with significant potential for agricultural development. However, CFIs face challenges in technology investments and regulatory improvements [47][48]. Ethiopia - Ethiopia has around 21,883 SACCOs serving over 6 million members, playing a crucial role in financial inclusion. However, the sector faces competition and requires improvements in service offerings [54][55]. West Africa - The CIF network in West Africa serves 5 million members across six countries, with a focus on enhancing its supervisory and safety net functions. The project aims to strengthen the network's operational processes and digital capabilities [62][66]. Key Observations and Next Steps - The project highlighted the importance of collaboration between regulators, supervisors, and CFIs to implement effective reforms. Future efforts will focus on continuous support for the reform process and enhancing the resilience of CFIs in fragile contexts [52][68]. Lessons Learned - The project underscored the value of CFIs in financial sector development and the benefits of improving their regulatory and supervisory frameworks in parallel with institutional development [72].

Investment Rating - The report does not explicitly provide an investment rating for the World Bank Group (WBG) in Papua New Guinea (PNG) Core Insights - The WBG is increasingly perceived as an effective partner in PNG, with respondents rating its collaboration and responsiveness positively compared to previous years [51][72] - Familiarity with the WBG has significantly improved, with a mean rating of 7.1 in FY24 compared to 6.1 in FY21 [12][13] - Stakeholders expressed a desire for the WBG to focus on agriculture/rural development, education, and transport infrastructure as key development priorities [43][45] Summary by Sections Objectives - The survey aimed to understand stakeholder perceptions of the WBG, focusing on familiarity, effectiveness, and development priorities [6] Methodology Overview - The survey was conducted with 632 potential participants, achieving a 35% response rate with 219 completed surveys [7][8] Overall Context - Respondents emphasized the need for the WBG to be culturally and contextually aware of PNG's diverse dynamics to tailor its programs effectively [10] Overall Attitudes Toward the WBG - Trust in the WBG has improved, with a mean rating of 7.4, indicating a positive shift in stakeholder perceptions [16][18] Key Performance Indicators - Ratings for the WBG's alignment with PNG's development priorities and its effectiveness in achieving results have significantly increased, with mean scores of 7.6 and 7.2 respectively [22][27] Development Areas for WBG Focus - Agriculture/rural development remains the top priority, followed by education, which saw a notable increase in importance from previous years [43][45] Financial Instruments and Knowledge Work - Respondents value the WBG's financial resources and technical assistance, with 50% highlighting financial resources as the greatest value [67][70] Collaboration Effectiveness - The WBG is perceived to collaborate more effectively with national government and civil society compared to FY21, indicating improved stakeholder engagement [57][60]

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The report analyzes the digital technology adoption of Armenian firms based on a survey conducted in 2023, revealing that over 60% of firms have not adopted any modern technology, which significantly impacts their competitiveness and productivity [13][22][73]. - The findings indicate a substantial divide in digital technology adoption between high and low-performing sectors, with only 9.5% of firms using transactional technologies, while 22% use informational technologies and 20% use operational technologies [15][73]. - The report emphasizes that improving digital technology adoption is critical for enhancing productivity and reducing the technology gap with more developed economies [15][31]. Summary by Sections Executive Summary - The report assesses the digital maturity of Armenian firms through a comprehensive survey, highlighting the low adoption rates of modern technologies and the need for targeted public interventions to address market failures [13][15]. Introduction - The introduction outlines the economic context of Armenia, noting significant growth but also a disparity in productivity across sectors, which can be addressed through improved digitalization [31][32]. Firm-level Digitalization in Armenia - The section discusses the current state of digital infrastructure and technology adoption among firms, revealing that access to high-speed internet is a major barrier, with over 75% of firms lacking adequate connectivity [46][57]. - It categorizes technologies into transactional, informational, and operational, noting that firms primarily use basic digital tools rather than sophisticated technologies [69][73]. Key Challenges Faced by Armenian Firms - Firms report several challenges, including limited access to high-speed internet, lack of skilled workers, and insufficient management practices, which hinder their ability to adopt digital technologies [19][27][57]. - The report identifies that financial constraints and a lack of information about available digital tools are significant barriers to technology adoption [27][53]. Policy Recommendations - The report provides recommendations for improving digital technology adoption, including expanding digital connectivity, enhancing business advisory services, and addressing skills shortages through targeted training programs [20][27][48]. - It emphasizes the importance of building managerial capabilities to facilitate the integration of digital solutions within firms [27][48].

Investment Rating - The report does not explicitly provide an investment rating for the housing sector in Grenada Core Insights - Grenada's housing sector is highly vulnerable to natural hazards and climate change, necessitating urgent improvements in recovery capacity to ensure timely and effective disaster recovery [25][50] - The Sectoral Recovery Capacity Assessment (SRCA) indicates that the capacity for implementing resilient and inclusive recovery projects in Grenada's housing sector is currently basic or incipient, highlighting significant gaps in knowledge and resources [25][26] - The assessment emphasizes the need for gender-responsive and disability-inclusive recovery strategies, which are critical for enhancing resilience in the housing sector [25][26] Summary by Sections Introduction - The Caribbean region faces significant disaster risks, with Grenada experiencing economic losses averaging 3.6% of GDP annually due to natural hazards [50] - The SRCA aims to identify capacity gaps and opportunities for investment in Grenada's housing sector to enhance recovery efforts [53] Housing Sector Overview - The housing sector in Grenada is prioritized for recovery assessments due to its economic importance and vulnerability to disasters [25][57] - The assessment identifies critical needs for technical and human resources to improve disaster risk management (DRM) in the housing sector [25][26] Assessment Implementation Process - The SRCA was conducted through a consultative process involving key stakeholders, including government agencies and community representatives [25][57] Results Overview - The assessment categorized existing recovery capacity into three main components: Governance, Competencies, and Resources and Tools, with varying Recovery Capacity Index (RCI) scores indicating areas needing improvement [28][30] - Key findings reveal that governance structures and institutional responsibilities for recovery are underdeveloped, with RCI scores indicating a need for significant enhancements [30] Recommendations - The report outlines strategic recommendations for integrating resilient recovery considerations into national policies and planning processes, emphasizing the importance of finalizing disaster management plans and enhancing funding mechanisms for homeowners [33][34] - It suggests building specialized knowledge and skills within the housing sector to facilitate effective recovery interventions [33][34]

Investment Rating - The report does not explicitly provide an investment rating for the World Bank Group's engagement in Namibia. Core Insights - The World Bank Group (WBG) is perceived to need more effective support for Namibia to achieve its Sustainable Development Goals (SDGs) and financial assistance [12] - Familiarity with the WBG has significantly increased from a mean rating of 3.1 in FY18 to 5.9 in FY24, indicating improved awareness among stakeholders [15][22] - Trust in the WBG varies significantly across different stakeholder groups, with the highest trust ratings coming from the office of the President/Prime Minister/Minister (mean=7.9) [17] Summary by Sections Objectives - The survey aimed to understand stakeholder perceptions of the WBG, focusing on familiarity, trust, effectiveness, and development priorities [6] Methodology Overview - The survey was conducted from March to May 2024, with 819 potential participants and a response rate of 13% (105 respondents) [8] Overall Context - Stakeholders expressed a need for the WBG to better understand Namibia's socio-economic context and to be more human-centric in its development approach [19] Overall Attitudes Toward the WBG - Respondents indicated that understanding local realities is crucial for the WBG's effectiveness in Namibia [19] Key Performance Indicators - Ratings for the WBG's alignment with Namibia's development priorities improved but remained moderate, with respondents who collaborate with the WBG expressing more positive views [22][26] Development Areas - Stakeholders prioritized agriculture/food security (59%), education (42%), and energy (39%) as key areas for WBG focus in FY24 [43] Effectiveness of WBG's Support in Sectoral Areas - Ratings of the WBG's effectiveness in sectoral areas were generally moderate, with the highest ratings in macroeconomic stability and social protection [44] WBG's Engagement on the Ground in Namibia - There were improvements in perceptions of the WBG's openness and accessibility, but long-term partnership perceptions were mixed [47][48] Financial Instruments and Knowledge Work - Respondents valued the WBG's financial resources and technical assistance, with a significant emphasis on accountability in lending practices [63][66] Stakeholder Collaboration - There is a strong desire for the WBG to collaborate more with the private sector, local government, civil society organizations, and academia to enhance its effectiveness in Namibia [58]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The urgency and rapidly changing conditions during health emergencies necessitate robust monitoring efforts to ensure transparency [3] - Defining the characteristics of monitoring systems in agreement with stakeholders from the onset is crucial [3] - An effective Track and Trace Monitoring System (T&TMS) can be developed using basic tools like Excel spreadsheets and shared drives, without requiring sophisticated digital platforms [3][35] Summary by Sections Introduction - Argentina's COVID-19 Emergency Project was initiated as part of the World Bank's global response to the COVID-19 pandemic, with the first loan approved on April 2, 2020 [4] - The project aimed to support Argentina's health response and strengthen public health preparedness during a severe economic crisis [4][5] Financial Support and Procurement - The first loan provided US$30.9 million for medical equipment and supplies, with US$15.3 million allocated for 12,140 pieces of medical equipment and US$15.6 million for disposable medical supplies [12] - Emergency procurement mechanisms were utilized to ensure timely responses to urgent challenges posed by the pandemic [6] Track-and-Trace Monitoring System - A T&TMS was developed to track the movement of medical equipment and supplies from vendors to healthcare facilities [12] - The monitoring activities were divided into three stages: reception and distribution planning, concurrent supervision, and ex-post verification [13] Operational Achievements - The project facilitated the purchase of over 12,000 pieces of medical equipment and thousands of disposable supplies, distributed among 969 designated recipients [23][24] - The T&TMS ensured full traceability of shipments, which was particularly notable given the adverse conditions during the pandemic [25] Health System Strengthening - The project strengthened Argentina's health system capacity to respond to increased demand for intensive care, providing equipment to 90% of public hospitals with IC units [26] - A total of 3,511 ventilators were purchased, representing approximately 39% of the pre-pandemic stock [26] Health Outcomes - Argentina's excess mortality due to COVID-19 was 0.85 deaths per 1,000 population, significantly lower than the Latin American average of 1.79 deaths per 1,000 population [28] Factors Affecting Implementation - The Bank's long-term engagement and knowledge of Argentina's health sector facilitated the rapid preparation of the project [29] - Existing administrative procedures and information technology platforms supported the development of the T&TMS [30][31] Lessons Learned - The T&TMS serves as a best practice for future health emergencies, emphasizing the need for robust monitoring systems and stakeholder agreement from the onset [35]

Investment Rating - The report indicates a negative outlook for the Lebanese economy, projecting a contraction of 5.7% in 2024, with a significant decline in real GDP growth by an estimated 6.6% due to the ongoing conflict [24][40]. Core Insights - The conflict in Lebanon has escalated sharply, leading to mass displacement and destruction, with economic activity projected to contract significantly, reflecting a loss of US$4.2 billion in consumption and net exports [24][40]. - The cumulative decline in real GDP since 2019 is expected to exceed 38% by the end of 2024, deepening the pre-existing economic crisis [24][26]. - Key sectors, particularly tourism, have suffered major losses, further eroding Lebanon's economic potential and posing significant risks to long-term growth [24][26]. - The current account deficit is likely to deepen, with high imports of essential goods and declining exports straining Lebanon's economic fundamentals [24][26]. Summary by Sections Economic Developments - The report highlights a dramatic 62.3% decline in luminosity from 2019 to 2023, indicating severe contraction in economic activity [26]. - Dollar earners have experienced a cumulative 4.9% decrease in purchasing power from September 2019 to 2024, compared to a staggering 5,970.7% cumulative inflation faced by LBP earners [26]. Fiscal Developments - Lebanon's fiscal position is expected to deteriorate further due to urgent funding needs for affected populations and reduced fiscal revenues, particularly from VAT [24][40]. - The sovereign default since March 2020 limits Lebanon to minimal humanitarian aid, necessitating comprehensive debt restructuring to regain access to international capital markets [24][40]. External Sector - The report notes that the current account deficit continues to be financed by a heavily dollarized cash economy, which undermines recovery prospects [24][40]. - Imports of essential goods are expected to remain high, while declining exports and tourism receipts further strain Lebanon's economic fundamentals [24][40]. Special Focus - The report emphasizes the urgent need for comprehensive reforms to achieve macroeconomic stability, improve governance, and enhance public utilities [26][40]. - Targeted investments are critical to support sustainable reforms, facilitate recovery of essential services, and rebuild Lebanon's damaged capital stock [26][40].

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The Philippines is projected to grow at an average of 6.0 percent annually from 2024 to 2026, supported by robust domestic demand, sustained public investment, and a dynamic services sector [19] - The Human Capital Index (HCI) for the Philippines is estimated at 0.52, indicating that children are not reaching their full potential, particularly in early years outcomes [19] - Poverty incidence is projected to decrease from 15.5 percent in 2023 to 11.3 percent by 2026, supported by robust economic growth and rising real household incomes [19] Summary by Sections Recent Economic and Policy Developments - The Philippines experienced GDP growth of 5.8 percent in Q1-Q3 2024, up from 5.6 percent in the same period in 2023, driven by services and public investment [18] - Inflation averaged 3.2 percent in the first eleven months of 2024, down from 6.2 percent a year ago, allowing for monetary easing [18] - The fiscal deficit fell to 5.1 percent of GDP in the first three quarters of 2024, supported by increased revenue collection [18] Outlook and Risks - The medium-term economic outlook remains strong despite a downward revision of the 2024 growth forecast to 5.9 percent due to climate-related events [19] - The balance of risks is tilted to the downside, with uncertainties surrounding external trade and domestic inflationary pressures [19] Empowering Early Years Workers - Early years workers are essential for building human capital and driving economic growth, but face challenges such as shortages and inadequate qualifications [19] - Recommendations include targeted training programs, performance-based grants for local government units (LGUs), and improved coordination between national and local governments [21]

Investment Rating - The report does not provide a specific investment rating for the industry analyzed. Core Insights - The study investigates the differentiated economic impact of natural hazard-related disasters, specifically floods, in conflict versus non-conflict areas, revealing that conflicts amplify the negative impacts of such disasters on economic activity and recovery times [2][8][9]. Summary by Sections Introduction - The research aims to examine the impact of disasters and climate shocks on populations in conflict-affected regions, utilizing remote sensing technology to analyze the short-term effects of flooding events in Mozambique and Nigeria [8][10]. Methodology - A difference-in-difference econometric approach is employed, using satellite imagery of nightlight radiance and geospatial data on flood and conflict events to assess the economic impacts of floods in both conflict and non-conflict areas [17][39]. Results - Significant disparities in the effects of disasters and climate shocks are observed, with conflict-affected regions experiencing a more pronounced decline in economic activities compared to non-conflict areas [9][74]. - Specifically, conflict-affected areas experienced a 1.4% larger decline in economic activity one month after the floods compared to non-conflict areas [74]. Case Studies - The report focuses on two case studies: the 2019 tropical cyclones Idai and Kenneth in Mozambique and the July 2022 floods in Nigeria, highlighting the compounded crises faced by populations in conflict settings [48][49]. Data Sources - The analysis utilizes various data sources, including nightlight data from the VIIRS sensor, flood data from Sentinel-1 satellite, and conflict data from the ACLED database, to provide a comprehensive understanding of the impacts of floods in conflict-affected areas [18][24][31].

Investment Rating - The report does not provide a specific investment rating for the industry. Core Insights - Policymakers are willing to accept a program with a 5.0 percentage point lower estimated effect on enrollment rates if it is recommended by a local expert, indicating a strong preference for local knowledge over formal evidence [2][49]. - Programs supported by evidence from a different region are preferred over those supported by local evaluations only if the former has a 5.8 percentage point higher estimated impact, highlighting the importance of perceived relevance in evidence [2][49]. - The findings suggest that local knowledge significantly influences policy decisions, and researchers should aim to generate contextually relevant evidence to enhance the uptake of their findings by policymakers [49]. Summary by Sections Introduction - The increase in impact evaluations provides policymakers with more formal evidence, yet they often rely on local expert recommendations, which raises questions about the relative weight given to these sources of information [7]. - A discrete choice experiment was conducted with policymakers to assess how they value local expert advice compared to formal impact evaluation results [7]. Methodology - A survey was conducted with 190 policy professionals at World Bank and Inter-American Development Bank workshops, focusing on their preferences for program recommendations based on various attributes [14][17]. - The experiment involved comparing programs with different evaluation methods, locations, impacts, and recommendations from local experts [25][27]. Results - Policymakers showed a preference for programs with larger estimated treatment effects and those recommended by local experts, while policy practitioners favored programs with more precise impact evaluation results [31]. - The analysis revealed that policymakers would accept a program with a 5.0 percentage point lower impact if it was recommended by a local expert, indicating a significant trade-off in their decision-making process [39][49]. - The results suggest that local expert recommendations and impact evaluations from the same country are both valued, but they are not seen as substitutes [41][45]. Conclusion - The study concludes that local knowledge plays a crucial role in policy decisions, and researchers should strive to align their studies with the contexts relevant to policymakers to improve the likelihood of their findings being utilized [49].