Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The World Bank has played a significant role in raising awareness and sharing knowledge about the learning crisis, particularly through its data and analytics, which have defined learning poverty and encouraged stakeholder engagement [17][30] - The World Bank is well-positioned to address the learning crisis due to its relationships with governments and its status as the largest external education funder, although its support could be more strategically focused [18][50] - The evaluation highlights the need for better monitoring and evaluation of learning outcomes, as many projects focus on outputs rather than the actual changes in teaching and learning [19][40] Summary by Sections Overview - The World Bank has helped build awareness and convene global stakeholders around quality basic education, emphasizing the importance of addressing the learning crisis [17] - The report identifies that the World Bank's financing for basic education typically tracks inputs and outputs, with limited assessment of changes in systems and learning outcomes [19][34] Learning Crisis Context - Learning poverty was reported at 91% in low-income countries before the COVID-19 pandemic, worsening since then [21] - The report emphasizes that improving learning for all is more complex and costly than merely increasing access to education [23][25] Evaluation Findings - The evaluation assesses the World Bank's contribution to improving learning outcomes in basic education from 2012 to 2022, focusing on the adoption of a systems approach [26][50] - The World Bank's portfolio for basic education operations during this period totaled $25 billion, with a concentration in the Africa Region [34] Recommendations - The report recommends developing country-specific education engagement plans that include systems-based enhancements to the teaching framework [58] - It also suggests collaborating with global and country partners to close data gaps on learning outcomes and track progress in ending learning poverty [60][71]

olic Disclosure Auth blic Disclosure Authoriz | --- | --- | --- | |---------------------------------------------------------------------------------------|-------|-------| | | | | | | | | | SIERRA LEONE ECONOMIC UPDATE | | | | Unlocking the Potential of the Power Sector in Sierra Leone Breaking the Crisis Cycle | | | Disclosure Autho © 2024 The World Bank 1818 H Street NW, Washington DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org Some rights reserved This work is a product of the staff of The ...

Investment Rating - The report does not explicitly provide an investment rating for the Jordanian economy or specific sectors within it. Core Insights - Jordan's economy demonstrated resilience in 2023, achieving a GDP growth of 2.7 percent, up from 2.6 percent in 2022, with broad-based growth across manufacturing, services, and agriculture [12][18] - The unemployment rate declined to 22.0 percent in 2023 from 22.8 percent in the previous year, with a stable rate of 21.4 percent in Q1-2024 [12][14] - Inflation decelerated significantly to 2.1 percent in 2023, down from an average of 4.2 percent in 2022, and is expected to remain contained in 2024 [12][14] - The current account deficit narrowed to 3.7 percent of GDP in 2023, down from 7.8 percent in 2022, supported by a surge in tourism receipts [12][14] - The fiscal deficit of the central government narrowed to 5.1 percent of GDP in 2023, aided by lower expenditure [12][14] Recent Economic Developments - Economic growth continued to decelerate due to the conflict in the Middle East, with real GDP growth slowing to 2.0 percent in Q1-2024 [12][18] - Manufacturing growth reached a record high, contributing significantly to GDP growth, while the services sector, particularly restaurants and hotels, also performed well [12][18] - Labor market outcomes remained weak, with labor force participation declining to 33.2 percent in 2023 [12][18] - The external sector improved markedly, with a notable increase in tourism receipts contributing to the narrowing of the current account deficit [12][14] Outlook and Risks - The medium-term outlook for Jordan's economy is weighed down by uncertainties surrounding the ongoing conflict in the Middle East, which could adversely impact trade and tourism [14][16] - Fiscal consolidation is expected to proceed slowly, with the primary fiscal deficit anticipated to narrow further in 2024 [12][14] - The report highlights potential risks to economic stability from broader disruptions due to the conflict, affecting trade, oil prices, and consumer behavior [14][16]

Industry Overview - The Multilateral Investment Guarantee Agency (MIGA) has issued $84.5 billion in guarantees since its inception in 1988, supporting over 1,030 projects across 123 host countries [1] - In fiscal year 2024 (FY24), MIGA issued a record $8.2 billion in new guarantees across 40 projects, with 95% of these projects supporting at least one of MIGA's strategic priority areas [2] - MIGA's strategic priorities include increasing engagement in International Development Association (IDA)-eligible countries, fragile and conflict-affected situations (FCS), and climate finance initiatives [2][20] Regional and Sectoral Impact - MIGA issued $2.9 billion in guarantees in Europe and Central Asia, $2.7 billion in Sub-Saharan Africa, $1.9 billion in Latin America and the Caribbean, and $449 million in South Asia in FY24 [21] - 65% of MIGA's projects in FY24 were in IDA-eligible countries, totaling $3.1 billion in guarantees, while 25% were in FCS, amounting to $945 million [21] - Climate finance was a significant focus, with 75% of projects contributing to climate mitigation or adaptation efforts, totaling $2.5 billion in guarantees [21] Climate and Sustainability Initiatives - MIGA surpassed its commitment to align 85% of its operations with the Paris Agreement, achieving 100% alignment in FY24 [26] - Notable climate projects included supporting Chile's largest state-owned enterprise in transitioning to renewable energy and Senegal's first 100% electric bus rapid transit system [27][78] - MIGA's guarantees are expected to prevent over 600,000 metric tons of CO₂ emissions annually and provide new or improved electricity services to 280,000 people [21] Gender and Social Impact - MIGA launched the World Bank Group Gender Strategy 2024-2030, focusing on gender equality and poverty reduction [28] - In FY24, MIGA supported projects that increased women's employment in technical and digital roles, enhanced women's leadership in the hospitality sector, and promoted gender equality in renewable energy projects [28][140][141] - MIGA's gender-flagged projects included increasing women's access to mobile internet and mobile money services, benefiting 2.2 million people and adding 12.2 million new subscribers to mobile money services [2][21] Financial and Operational Performance - MIGA's gross guarantee portfolio exposure stood at $31.5 billion as of June 30, 2024, with net guarantee exposure at $10.3 billion [74] - The World Bank Group committed $117.5 billion in FY24, including $8.2 billion from MIGA, to address global development challenges [14] - MIGA's net income in FY24 was $179.5 million, with gross premium income reaching $272.3 million [153] Innovation and Partnerships - MIGA launched the World Bank Group Guarantee Platform, aiming to boost annual guarantee issuance to $20 billion by 2030 [29][30] - The platform simplifies processes and provides a unified product menu, making it easier for clients to access guarantees [30] - MIGA partnered with the International Solar Alliance (ISA) and the International Renewable Energy Agency (IRENA) to scale up renewable energy projects [106][108]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Nepal's real GDP growth accelerated to 3.9 percent in FY24, up from 2 percent in FY23, driven by a surge in tourist arrivals and increased hydropower production [30][29] - Remittance inflows reached a nine-year high of 25.3 percent of GDP in FY24, significantly contributing to private consumption and overall economic stability [69][54] - The current account balance turned positive for the first time in eight years, with a surplus of 3.9 percent of GDP, attributed to increased remittances and reduced imports [70][54] Recent Economic Developments A.1 Real Sector - The services sector was the key driver of growth, with a 30.7 percent increase in tourist arrivals boosting transportation, accommodation, and food services [30][29] - Private consumption grew by 1.1 percent in FY24, supported by strong remittance inflows, while public investment remained weak due to low capital expenditure execution [30][47] - The agricultural sector grew by 3 percent, with paddy production increasing by 4.3 percent due to favorable conditions and improved fertilizer availability [36][30] A.2 External Sector - Merchandise imports decreased from 34.7 percent to 32.9 percent of GDP, while exports of goods and services increased to 7.6 percent of GDP [54][70] - The current account surplus was driven by a significant increase in remittances, which rose from 23.2 percent to 25.3 percent of GDP [54][69] - Foreign exchange reserves covered 13 months of imports by the end of FY24, well above the policy threshold of 7 months [57][54] A.3 Monetary and Financial Sector - The Nepal Rastra Bank (NRB) reduced the policy rate twice in FY24, first by 50 basis points to 6.5 percent and then by another 100 basis points to 5.5 percent [76][75] - The banking sector faced pressures with a non-performing loans (NPL) ratio reaching 3.8 percent, leading to increased loan-loss provisions [75][18] - Short- and medium-term nominal market interest rates declined, reflecting increased liquidity in the financial system [15][14] Special Focus: International Migration and Well-Being in Nepal - International migration is crucial for Nepal's economy, with remittances accounting for over one-fourth of GDP in FY24 [20][19] - Migration trends show that younger workers are disproportionately affected by unemployment, driving many to seek opportunities abroad [21][20] - The report emphasizes the need for reforms to maximize migration benefits, including reducing costs and improving domestic economic conditions for returnees [27][26]

Investment Rating - The report does not explicitly provide an investment rating for the fisheries sector in Vietnam Core Insights - Vietnam's fisheries sector is facing significant challenges, including declining fish stocks and vulnerabilities among workers, necessitating a multifaceted approach for sustainable development [1][6][7] - The integration of social protection and labor market policies is essential to support sustainable fisheries and enhance the resilience of communities dependent on this sector [7][18] Summary by Sections Introduction - Vietnam is a leading producer and exporter of aquatic products, with aquaculture contributing 57% of total production and 75% of total revenues [5][6] - Over 7 million people rely on livelihoods from the capture fisheries sector, with marine fisheries being a significant source of employment [5][6] Country Context - The marine economy contributes approximately 30% to Vietnam's national GDP, with fisheries and aquaculture accounting for 3.4% [10] - The fisheries sector is under pressure from overfishing, climate change, and illegal fishing practices, which threaten its sustainability and competitiveness [6][15] Social Protection and Labor Policies - Vietnam's social protection system has evolved but remains fragmented, with significant gaps in coverage, particularly for informal workers in the fisheries sector [18][19] - Social assistance spending is low, at around 0.86% of GDP, and only 3.5% of the population is covered by social insurance [19][22] Data and Methodology - The analysis utilizes data from the Vietnam Household Living Standard Survey (VHLSS) and the Vietnam Labor Force Survey (LFS) to assess socioeconomic vulnerability in the fisheries sector [30][31] Main Findings - The demographic profile indicates that fishing and aquaculture households are primarily located in the Mekong Delta and face high climate risks [36] - Employment in fisheries and aquaculture accounts for 3.3% of total employment, with inland aquaculture being the largest source of jobs [39] - Monthly income for fishing and aquaculture households averages US$174, higher than agriculture but lower than other sectors [47]

Investment Rating - The report does not explicitly provide an investment rating for the World Bank Group's activities in Burkina Faso Core Insights - The World Bank Group (WBG) is perceived as a relevant development partner in Burkina Faso, with positive ratings for its effectiveness and alignment with local development priorities [31][49][56] - Stakeholders express a desire for the WBG to focus on addressing fragility, conflict, and violence, with education and transport infrastructure also highlighted as key priorities [57][60] - Familiarity with the WBG correlates with more positive perceptions of its effectiveness and trustworthiness [46][34] Summary by Sections Objectives - The survey aims to understand stakeholder perceptions of the WBG in Burkina Faso, focusing on familiarity, trust, effectiveness, and development priorities [4] Methodology Overview - Conducted from March to April 2024, the survey had a response rate of 81% with 407 participants [5][6] Overall Context - Stakeholders emphasize the need for the WBG to align its efforts with local priorities and to support infrastructure development [10][15] Overall Attitudes Toward the WBG - Trust in the WBG is higher than in other multinational institutions, with a mean rating of 6.2 [13][35] Key Performance Indicators - Ratings for the WBG's relevance, effectiveness, and influence on development policy are positive, with significant improvements noted since FY19 [31][32] World Bank Group's Support for Development Areas - Addressing fragility and education are top priorities for stakeholders, with a notable increase in the emphasis on transport infrastructure [57][60] Financial Instruments and Knowledge Work - Respondents value the WBG's financial instruments and knowledge work, with a significant portion reporting positive experiences [76][82] Communication and Outreach - Stakeholders prefer more engagement with local governments and civil society to enhance the WBG's effectiveness [73][66] Future Role of the World Bank Group in Burkina Faso - The WBG is seen as needing to adapt its strategies to better meet the evolving needs of Burkina Faso [60][74]

Investment Rating - The report does not explicitly provide an investment rating for the tourism sector in The Gambia Core Insights - The tourism sector in The Gambia presents significant opportunities for women's participation, entrepreneurship, and leadership, but faces challenges such as low pay, informal business structures, and risks of exploitation [9][12] - Women in tourism are more likely to be employers compared to other sectors, yet they encounter barriers including lack of skills, restrictive gender norms, and discriminatory hiring practices [9][12] - The assessment highlights a gender gap in employment, with women constituting 35% of full-time employees in tourism, compared to 65% for men, resulting in a gender gap of 29 percentage points [9][10] - The report emphasizes the need for improved data collection and targeted interventions to address gender disparities in the tourism sector [10][11] Summary by Sections Executive Summary - The tourism sector offers opportunities for women's participation and entrepreneurship, but challenges persist, including low pay and risks of exploitation [9] - Women face barriers such as lack of skills and discriminatory hiring practices, which contribute to lower participation rates [9] - The assessment documents gender disparities and key issues hindering women's participation and earnings in tourism [9] Introduction - The travel and tourism sector is a significant contributor to The Gambia's GDP and job creation, particularly for women [12] - The assessment aims to understand women's participation in tourism and the underlying barriers to better economic outcomes [12] Methodology - The Gender Gap Analysis examines women's participation in tourism through employment, entrepreneurship, and leadership [16] - Data collection involved desk research, stakeholder mapping, and interviews with key informants in the tourism sector [20][23] The Gambia Context - The Gambia's tourism is primarily sun and sea focused, with limited diversification into eco-tourism and cultural tourism [28] - The sector has faced challenges due to climate change, COVID-19 impacts, and a lack of infrastructure [28][29] Gender Gap Analysis - The analysis reveals significant gender disparities in employment, entrepreneurship, and leadership within the tourism sector [9][10] - Women are underrepresented in leadership roles, with only 8.6% of parliamentary seats held by women [10] Recommendations - The report provides recommendations for advancing gender equality in tourism, including enhancing skills development, diversifying tourism activities, and improving data collection [11][15] - The World Bank's Tourism Diversification and Resilience in The Gambia Project aims to strengthen the tourism sector and integrate gender actions [14][15]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The demand for coastal defenses is increasing due to escalating coastal risks from storms and climate change, with mangroves and coral reefs offering valuable coastal protection services by reducing waves and storm surges [11][12] - The present value of flood reduction benefits from mangroves in 2020 is estimated at $855 billion, with significant benefits observed in countries like China, Vietnam, Australia, the US, and India [11][12] - The report highlights the importance of integrating natural capital assets into economic analysis and decision-making processes to enhance coastal resilience [8][11] Summary by Sections Introduction - The report emphasizes the need for evaluating flood reduction benefits and the role of natural coastal defenses in informing policies for adaptation and sustainable development [16][17] - It notes the growing interest in nature-based defenses from international bodies and the importance of incorporating ecosystem-based approaches into disaster risk management strategies [18][19] Water Value in the Context of CWON - The report discusses the comprehensive wealth accounts produced by the World Bank, which include natural capital and its role in risk reduction and adaptation [20] - It highlights the significant coastal protection services provided by mangroves, including their ability to mitigate flooding and erosion [20] Results - The analysis covers 121 nations with mangroves, assessing flood risks and benefits over time, revealing that mangroves protected 22% more people and 59% more capital stock value in 2010 compared to 1996 [11][12] - The report indicates that from 2010 to 2020, mangrove benefits increased more than flood risk for the first time, with over 61% of people receiving direct flood benefits [12] Discussion - The findings underscore the need for policy makers to account for the benefits of mangroves in decision-making processes to prevent habitat loss and enhance coastal resilience [20][21] - The report suggests that investments in the conservation and restoration of mangroves can significantly contribute to flood risk reduction and climate adaptation [12][21] Recommendations - The report provides actionable insights for integrating shoreline protection services provided by mangroves into decision-making processes and promoting sustainable practices for coastal resilience [21][22]

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The report highlights that non-wood forest ecosystem services contribute significantly to global natural capital wealth, with an estimated value exceeding US$10 trillion, of which non-wood services account for approximately 73% [19][20]. - The global average marginal value per hectare for non-wood forest ecosystem services in 2020 ranges from US$6.80 for non-wood forest products to US$48 for recreation [19]. - The assessment employs a meta-analytic predictive model using regression and machine learning techniques to estimate the economic value of four ecosystem services: recreation, hunting, fishing, non-wood forest products, and watershed protection [16][19]. Summary by Sections Section 1: Introduction - The introduction discusses the economic benefits generated by forests through ecosystem services, emphasizing the importance of non-wood forest ecosystem services in contributing to natural capital wealth [16][19]. Section 2: Development of Database - This section details the literature review process and the development of a database of non-wood forest ecosystem service valuation studies, incorporating 79 new primary valuation estimates from 677 additional papers [22][23]. - The report identifies that the largest increases in new value estimates come from Asia (34%), Africa (32%), and Europe (19%) [18][19]. Section 3: Methods for Spatial Estimation - The report outlines the construction of predictive models for estimating the value of non-wood forest ecosystem services, utilizing a 0.1º by 0.1º grid to forecast local values globally [20][22]. Section 4: Database Construction and Descriptive Analysis - This section describes the compilation of predictor variables and the construction of a global database to estimate the local value of non-wood forest ecosystem services [20][22]. Section 5: Estimation Results and Global Predictions - The estimation results indicate substantial heterogeneity in values by location and ecosystem service type, with country-level estimates derived from aggregating grid-cell level predictions [20][22]. Section 6: Contribution of Protected Areas - The report develops an operational method for assessing the contribution of protected areas to the value of non-wood forest products, highlighting the economic significance of these areas [20][22]. Section 7: Discussion - The discussion concludes the report by summarizing the findings and emphasizing the need for continued research and valuation of non-wood forest ecosystem services [20][22].