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]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Small claims courts and procedures enhance efficiency and accessibility in the justice system, particularly in high-income, common-law jurisdictions [12][13] - The report identifies ten critical factors for the effective design of small claims systems, including institutional setup, optionality, thresholds, filing processes, fees, timelines, representation, evidence, hearings, and judgment [12][13] Summary by Sections Origins and Purpose of Small Claims Courts - Small claims courts simplify judicial procedures for low-value claims, making them quicker and cheaper to resolve [15] - Approximately 135 countries have small claims courts or simplified procedures, predominantly in high-income, common-law jurisdictions [16] Designing Small Claim Courts - The design of small claims systems should consider various components, including institutional setup, thresholds, and filing processes [25] - Jurisdictions may adopt standalone small claims courts or integrate them within general jurisdiction courts, depending on their context [25] Key Findings - Small claims systems serve dual goals: improving judicial efficiency and increasing access to justice for vulnerable groups [22] - The report emphasizes the importance of user-friendly mechanisms for filing claims, such as electronic filing and oral claims [29] Conclusions - Small claims procedures can significantly improve access to and efficiency of justice when designed effectively [44] - Continuous assessment and user feedback are essential for refining small claims systems to address barriers to justice [44]

| --- | --- | --- | --- | --- | --- | |-------|-----------------------------------------------------------------------------------------|-------|-------|---------------|-------| | | | | | | | | | | | | | | | | | | | November 2024 | | | | Selecting and Implementing | | | | | | | Demand Response Programs to Support Grid Flexibility A Guidance Note for Practitioners | | | | | | | | | | | | © 2024 International Bank for Reconstruction and Development/The World Bank 1818 H Street NW, Washington, DC 20433, Teleph ...

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]

Industry Investment Rating - The report does not provide a specific investment rating for the mental health stigma reduction industry, but it highlights the significant global need for funding and implementation of long-term programs to address mental health stigma and discrimination [156][157] Core Report Findings - Stigma and discrimination related to mental health have severe negative impacts on individuals, families, and communities, including reduced access to healthcare, education, and employment opportunities [18][29] - A global survey found that 80% of people with mental health conditions across 45 countries agreed that stigma and discrimination can be worse than the impact of the mental health condition itself [18][29] - Interventions based on social contact, whether in-person, virtual, or indirect, are the most effective ways to reduce stigma worldwide, especially when adapted to different cultural contexts [18][23] - Long-term programs are necessary for sustainable stigma reduction, and their impact should be assessed through baseline and periodic evaluations [24][26] Summary by Section Executive Summary - Stigma and discrimination violate basic human rights and exacerbate marginalization, reducing access to healthcare and diminishing educational and employment opportunities [18] - The report synthesizes over 260 systematic reviews on stigma reduction and emphasizes the effectiveness of social contact-based interventions [18][23] Importance of Stigma and Discrimination in Mental Health - Stigma and discrimination lead to social exclusion, loss of property, inheritance, and voting rights, and poor-quality healthcare for mental and physical health conditions [29] - These barriers contravene basic human rights and are prevalent across all countries and cultures [29] Defining Stigma and Discrimination - Stigma is defined as a deeply discrediting attribute that reduces a person's value, while discrimination is the unfair treatment of individuals based on specific characteristics [32] - Stigma can be categorized into public stigma, self-stigma, family stigma, and structural stigma [33][34][35][37][38] Evidence on Reducing Mental Health Stigma and Discrimination - Social contact interventions, particularly those involving people with lived experience, are the most effective in reducing stigma [23][110] - Structural stigma can be reduced through policies, community-based treatment, and public education programs [42][43] - Cost-effectiveness studies suggest that stigma reduction programs can yield significant economic benefits, such as increased employment and reduced healthcare costs [125] Case Studies of National-Level Anti-Stigma Programs - Programs like Time to Change (England), Nōku te Ao (New Zealand), and batyr (Australia) have demonstrated significant improvements in public attitudes, mental health knowledge, and reductions in discrimination [131][133][135] - These programs often involve social contact, lived experience champions, and social marketing campaigns, with long-term sustainability being a key factor for success [129][131] Conclusions and Recommendations - The report recommends creating long-term, culturally adapted programs to reduce stigma, with a focus on social contact as the central component [156][157] - Specific target audiences and outcomes should be identified, and programs should involve cross-sectoral support from industries, sports, media, and education [157]

Public Disclosure Authorized Public Disclosure Authorized The impact of the implementation of EU's Carbon Border Adjustment Mechanism on North Macedonia Policy Note Public Disclosure Authorized Public Disclosure Authorized September 2024 Contents Acknowledgments | --- | --- | |-------------------------------------------------------------|-------| | | | | | | | Executive Summary. | | | Policy Context | | | Summary of the CBAM Regulation . | | | The implications of the CBAM Regulation in North Macedonia. | | ...

DATA FOR BETTER GOVERNANCE | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | BUILDING GOVERNMENT ANALYTICS ECOSYSTEMS IN LATIN AMERICA AND THE CARIBBEAN Juan Francisco Santini, Flavia Sacco Capurro, Daniel Rogger, Timothy Lundy, Galileu Kim, Jorge de León Miranda, Serena Cocciolo, and Chiara Casanova ...