Early Experiences of Beneficiary Choice in Government-to-Person Payment Architecture in Indonesia Public Disclosure Authorized 1 Early Experiences of Beneficiary Choice in G2P Payment Architecture in Indonesia Early Experiences of Beneficiary Choice in Government-to-Person Payment Architecture in Indonesia G2P Rp Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized 2 Early Experiences of Beneficiary Choice in G2P Payment Architecture in IndonesiaThis work is a product of th ...

Industry Investment Rating - The report highlights a broadly downward trend in FDI into emerging markets and developing economies (EMDEs) over the past decade, with FDI inflows into developing countries falling by 3% between 2014-18 and 2019-23 [63][64] - The FDI-to-GDP ratio for developing countries dropped to 1.7% in 2019-23, the lowest in decades [63][64] - Greenfield FDI, however, has shown resilience, with announcements reaching nearly $750 billion in 2023, the highest annual level on record [70] Core Industry Insights - The global FDI landscape is increasingly shaped by near-shoring, friend-shoring, and reshoring, driven by geopolitical considerations, supply chain resilience, and market access [61][73] - US FDI flows into Mexico rose from $34 billion in 2014-18 to $45 billion in 2019-23, reflecting a shift towards shorter supply chains and less geopolitical uncertainty [78] - Chinese companies are redirecting FDI to third-country manufacturing hubs like Vietnam, Mexico, and Malaysia to preserve access to Western markets [78] Chapter 1: Trends in FDI in Developing Countries - Upper-middle-income economies dominate FDI inflows, accounting for over 75% of developing country FDI, with six countries (China, Brazil, India, Mexico, Indonesia, and Vietnam) receiving nearly 70% of total inflows [147][149] - Greenfield FDI in developing countries rebounded strongly post-pandemic, with ICT-related sectors experiencing significant growth, reaching over $30 billion in 2023 [201][202] - Reinvested earnings in developing countries have risen, accounting for over 60% of total FDI in 2021 and 2022, signaling confidence in host economies [206][207] Chapter 2: Near-Shoring, Friend-Shoring, and FDI Relocations - Over 80% of investment promotion agencies (IPAs) believe FDI relocations will significantly impact their countries, with 86% of developing country IPAs expecting friend-shoring to be an important trend [79][80] - Chinese FDI to Vietnam, Mexico, and Malaysia surged, with investments in computer manufacturing increasing 13-fold in 2023 compared to 2022 [78] - The MIGA-WAIPA survey indicates that geopolitical and economic risks, particularly supply chain disruptions and Russia's invasion of Ukraine, are top concerns for FDI [43][84] Chapter 3: Political Risk Insurance (PRI) Trends - The ratio of PRI issuance to FDI flows into developing countries has declined, with only 7% of FDI covered by PRI in 2020-23 [87][89] - Public sector PRI providers, particularly export credit agencies, dominate the market, while multilateral providers like MIGA have doubled their issuance share, focusing on riskier environments [89][90] - Claims related to transfer and convertibility risks, as well as political violence, have increased post-pandemic, though the PRI industry retains sufficient capacity to handle these risks [90][91]

Public Disclosure Authorized Global Gas Flaring Tracker Report JUNE 2024 Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized d Methane Reduction Partnership 2 Global Gas Flaring Tracker Report Global Gas Flaring Tracker Report3 Foreword7 Acknowledgments8 Abbreviations9 Key Findings 11 Global Perspective 14 Spotlight Countries 19 The Islamic Republic of Iran and Libya 19 Russia 20 United States 22 Algeria 26 República Bolivariana de Venezuela 27 Imported Flare Gas Index 28 ...

GOVERNANCE GOVERNANCE GOVERNANCE Public Disclosure Authorized GOVERNANCE GOVERNANCE GOVERNANCE GOVERNANCE Public Disclosure Authorized GOVERNANCE GOVERNANCE GOVERNANCE GOVERNANCE GOVERNANCE GOVERNANCE GOVERNANCE GOVERNANCE GOVERNANCE GOVERNANCE GOVERNANCE GOVERNANCE GOVERNANCE GOVERNANCE GOVERNANCE GOVERNANCE Prosperity Insight Series REFORMING JUSTICE Increasing Access through Small Claim Courts Erica Bosio, Svetozara Petkova Public Disclosure Authorized GOVERNANCE GOVERNANCE GOVERNANCE Public Disclosure A ...

Investment Rating - The report does not provide a specific investment rating for the industry. Core Insights - Adequate judicial budgets are crucial for effective judicial service delivery, with average judicial spending constituting less than 2% of total government expenditure, primarily allocated to fixed costs like salaries, limiting investment in efficiency-enhancing technologies [11][13][21] - The report identifies three major trends in judicial budget reform: increasing autonomy in budget management for the judiciary, enhancing accountability at the court level, and shifting towards performance-based budgeting models [13][40][52] Summary by Sections Why Judicial Institutions Need Adequate Budgets - Sufficient judicial budgets are essential for the effective provision of judicial services, with most funds directed towards fixed costs, thereby restricting investments in necessary technological advancements [13][15] - Economic downturns and budget cuts often prioritize funding for security, healthcare, or infrastructure over judicial needs, leading to challenges in resource allocation [15][16] Three Basic Facts About Judicial Budgets - Judicial budgets average less than 2% of government spending globally, with variations across regions; for instance, Latin American countries tend to allocate a higher percentage [21][22] - The COVID-19 pandemic led to a decrease in judicial budget proportions as other priorities emerged, and spending has not returned to pre-pandemic levels [27][29] Three Major Trends in Judicial Budget Reform - Countries are reforming budget preparation practices to grant more autonomy to judicial institutions, allowing them to manage their budgets more effectively [40][41] - There is a shift from input-focused budgeting to performance-based budgeting, emphasizing outputs and results, although this approach carries risks of administrative burdens on courts [46][51] - Recent initiatives aim to enhance budget autonomy to prevent judicial systems from appearing as politically controlled entities, potentially improving operational efficiency and public legitimacy [52][53]

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Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The GCC economies are experiencing a contraction in the oil sector due to OPEC+ production cuts, while non-oil sectors show resilience with a projected GDP growth of 1.6% in 2024, accelerating to an average of 4.2% in 2025-2026 [32][35] - Water scarcity is a critical challenge for the GCC, necessitating innovative solutions such as desalination and demand management strategies to ensure sustainable water supply [26][42] Summary by Sections Recent Developments - GCC economies are heavily influenced by global energy markets, with a significant contraction of 7.5% in oil GDP in H1 2024, while non-oil GDP grew by 3.8% [32][35] - The UAE leads in economic diversification, with strong growth in financial services and logistics, while Saudi Arabia's Vision 2030 is driving investments in tourism and renewable energy [32][35] Spotlight Section - The GCC faces urgent water management challenges due to arid climates and rapid population growth, with water-dependent sectors contributing significantly to GDP [42][43] - Strategic investments in water efficiency and technology are essential for economic diversification and resilience [42][43] Outlook and Risks - GCC fiscal balances are expected to remain in deficit in 2025-2026 due to OPEC+ production cuts and low oil prices, with varying impacts across countries [32][35] - Inflation in the GCC is projected to average 2.1% in 2024, influenced by housing price pressures and monetary policies [32][35] Special Focus - Water security is vital for economic stability, with the GCC region being one of the most water-scarce globally, relying heavily on non-renewable groundwater and energy-intensive desalination [42][43] - The report emphasizes the need for integrated water resource management and public-private partnerships to address fiscal pressures and improve service delivery [42][43]

Investment Rating - The report does not explicitly provide an investment rating for the industry discussed Core Insights - The report emphasizes the importance of integrating disaster risk into public financial management (PFM) to enhance fiscal resilience and sustainable development as climate change increases disaster impacts [25][48] - Disaster risk-based budgeting (DRBB) is proposed as a systematic approach to embed disaster risk considerations throughout the government budget cycle, addressing the challenges of inadequate financial planning for disasters [30][59] - The report highlights that effective disaster risk finance (DRF) solutions must be part of daily government activities rather than occasional investments, with a focus on proactive measures rather than reactive responses [25][26] Summary by Sections Introduction - The need for disaster risk-based budgeting is underscored due to the growing macroeconomic and fiscal instability caused by disasters, which have been exacerbated by climate change [44][48] - The report identifies binding constraints on managing public finances for disaster risk, including the perception of disasters as unpredictable events and the preference for known expenditures over contingent liabilities [61][64] Disaster Risk-Based Budgeting Entry Points - DRBB is defined as the consideration of disaster risk throughout the budget cycle, which includes strategic planning, budget preparation, approval, execution, accounting, and audit [78][83] - The report outlines various entry points for integrating disaster risk into the budget cycle, emphasizing the need for comprehensive disaster audits and risk-informed public investment [32][33] Governance of DRBB - Effective governance structures are essential for implementing DRBB, with central finance agencies playing a crucial role in ensuring comprehensive and coordinated disaster risk finance [37][38] - The report suggests that DRBB should not be a one-size-fits-all approach but should be tailored to individual country risk profiles and constraints [38][39] Recommendations and Further Study - The report provides recommendations for improving DRBB practices, including the need for regular reviews of DRF instruments and better integration of disaster risk into routine budgeting processes [59][60] - Areas for further research are identified, particularly in understanding the fiscal impacts of climate-induced disasters and enhancing the effectiveness of DRF instruments [39][60]

Investment Rating - The report does not explicitly provide an investment rating for the tertiary education sector in the South Caucasus region. Core Insights - The tertiary education systems in the South Caucasus are underperforming relative to the region's economic development, with no institutions achieving world-class status [12][40]. - Policymakers are urged to recognize the strategic importance of tertiary education for economic growth, innovation, and skill development to avoid the 'Middle Income Trap' [16][36]. - The report identifies four key policy priorities: improving access and equity, enhancing quality and relevance, increasing funding and efficiency, and fostering scientific research [18][33]. Summary by Sections Executive Summary - The performance of universities in the South Caucasus is disappointing, with aggregate quality scores significantly below expectations based on GDP per capita [12][13]. - Tertiary education is crucial for providing necessary skills, facilitating innovation, and supporting economic development [15][19]. Policy Priorities - **Policy Priority 1: Improving Opportunities** - Youth enrollment in tertiary education has been volatile due to demographic declines, with significant reductions in the 20-24 age group across Armenia, Azerbaijan, and Georgia [20][70]. - Future projections indicate stabilization in enrollment trends, providing an opportunity for strategic policy development [20][66]. - **Policy Priority 2: Quality and Relevance** - Concerns exist regarding the quality and relevance of tertiary education, with graduates often underprepared for the labor market [23][24]. - There is a mismatch between the skills provided by institutions and the demands of employers, necessitating curriculum reforms [25][49]. - **Policy Priority 3: Funding and Efficiency** - The South Caucasus countries spend significantly less on tertiary education compared to EU averages, relying heavily on tuition fees [26][27]. - Increased public funding is essential for improving educational quality and institutional stability [27][30]. - **Policy Priority 4: Scientific Research Infrastructure** - The region lacks a competitive scientific research infrastructure, which is vital for innovation and economic growth [31][32]. - Governments are encouraged to invest strategically in research capabilities and foster collaboration between universities and industries [32][60]. Importance of Tertiary Education for Economic Growth - Tertiary education is essential for producing advanced skills, driving innovation, and generating economic spillovers [35][46]. - The report emphasizes the need for diverse educational offerings to meet labor market demands, including professional training and micro-credentials [35][46]. Access to Tertiary Education - Enrollment trends in the South Caucasus have been affected by demographic changes, with significant declines in the youth population [64][70]. - There are high levels of inequality in access to tertiary education, particularly for students from disadvantaged backgrounds [66][67].

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The Public Asset Insurance Program (ABMN) aims to insure public assets against disasters, established under Minister of Finance Regulation No. 97/PMK.06/2019, as part of Indonesia's Disaster Risk Financing and Insurance (DRFI) strategy [15][49] - The report outlines nine key lessons learned from the implementation of the ABMN program, emphasizing the importance of stakeholder engagement, data management, and adaptability [16][20] Summary by Sections Objective - The ABMN program was launched in 2019 to provide insights on stakeholder management and tackle financial and technical challenges, with three main objectives: informing government officials, supporting DRFI implementation, and global knowledge-sharing [29][31] Introduction - Indonesia faces frequent natural disasters due to its geographic location, with an average of 289 disasters per year over the past 30 years, leading to significant human and economic impacts [34][36] Key Findings - Developing a clear value proposition for risk financing products is essential for program adoption [17] - Regulatory frameworks must be carefully considered to minimize resistance and ensure stakeholder engagement [18] - A staged implementation approach allows for early course correction and minimizes risks [18] - Accurate data management is crucial for informed decision-making [19] - Close collaboration with stakeholders fosters a sustainable system for protecting public assets [19] - Continuous training and knowledge-sharing enhance program effectiveness [20] - A comprehensive strategy combining awareness campaigns and targeted capacity-building is vital for stakeholder engagement [20] - The program's adaptability during unforeseen circumstances, such as the COVID-19 pandemic, demonstrates its resilience [20] Government Actions - The GoI should clearly define and communicate the benefits of risk mitigation products, involve stakeholders, and develop regulations considering existing frameworks [22] - Valid and complete data collection is necessary for informed program design decisions [22] - Robust governance through monitoring and evaluation processes is essential [22] - Establishing long-term partnerships with key stakeholders ensures program viability [22] - A multifaceted capacity development approach tailored to stakeholder needs is crucial [22] Program Implementation - The ABMN program began with a pilot project in 2019, insuring 1,337 facilities for a total value of IDR 10.73 trillion (US$ 688 million) [58] - By 2023, the number of insured properties increased to 10,920, with a total insured value of IDR 72.64 trillion (US$ 4.6 billion) [58] - The program's insurance policy covers various risks, including natural disasters and terrorism, and is managed directly between the MoF and participating insurance companies [67] Financial Protection Gap - The average annual direct economic costs of disasters are IDR 22.8 trillion (US$ 1.46 billion), while the available disaster reserve fund is only IDR 3.1 billion (US$ 198 million), highlighting a significant financial protection gap [41]