Investment Rating - The report emphasizes the importance of investing in hydrometeorological services, indicating a benefit-cost ratio of at least 3:1 for every dollar invested in these services [26][39]. Core Insights - The roadmap outlines a strategic approach for the modernization of the National Centre for Hydrology and Meteorology (NCHM) in Bhutan, focusing on enhancing service delivery and resilience against natural disasters [57][58]. - It highlights the critical role of hydrometeorological information in supporting economic activities, particularly in sectors like hydropower, agriculture, and tourism, which are highly sensitive to climate change [19][37]. - The report identifies significant gaps in the current capabilities of NCHM, including the need for improved observation systems, forecasting models, and ICT infrastructure [28][39]. Summary by Sections Executive Summary - The roadmap provides a comprehensive overview of the current state of hydromet services in Bhutan and proposes a modernization approach in two stages to enhance NCHM's capabilities [57][58]. - It builds on previous efforts and aligns with the National Hydromet Policy 2023, aiming to inform future Five-Year Plans [58][59]. Approach to Modernization - A system-of-systems approach is proposed to analyze and improve the various elements within the NCHM, assessing their maturity on a five-level scale [51]. - The hydrometeorological value chain is emphasized as a framework for understanding service delivery and identifying areas for improvement [51]. Current Status of NCHM Services and Infrastructure - The report details the existing services and infrastructure of NCHM, applying the maturity framework to establish a baseline for future enhancements [52]. - It identifies specific observation networks and forecasting systems that require modernization to meet user needs effectively [12][13]. Roadmap for Modernizing NCHM's Services - The roadmap is divided into short-term (2024-2029) and medium-term (2029-2034) modernization plans, outlining specific recommendations for infrastructure investments and expected improvements in service maturity [53][54]. - It includes detailed cost estimates and timelines for the proposed modernization activities [54][56]. Conclusion - The conclusion emphasizes the need for public-private partnerships and innovative approaches to enhance NCHM's service delivery and resilience [54]. - It calls for stakeholder engagement and a collaborative effort to implement the roadmap effectively [40][54].

Industry Overview - The Results and Performance of the World Bank Group (RAP) 2024 report focuses on analyzing trends in the performance ratings of World Bank Group operations, including the World Bank, International Finance Corporation (IFC), and Multilateral Investment Guarantee Agency (MIGA) [2][3] - The report aims to provide a deeper analysis of specific issues, such as the performance of COVID-19-exposed operations and the association between development outcomes, additionality, and work quality ratings in IFC investment projects [3] - The report will also analyze trends in country program ratings and conduct an in-depth review of Bank Group performance at the country level [3] Key Analytical Components - The report will analyze trends in IEG ratings of World Bank Group operations, including outcome type analysis and factors linked to the performance of COVID-19-exposed projects [10] - For IFC investment projects, the report will identify factors specific to work quality and additionality that are associated with development outcomes [10] - The report will also analyze trends in IEG ratings of country programs and factors linked with World Bank Group performance at the country level over a 10-year period [10] Methodology and Approach - RAP 2024 will apply a mix of methods, including statistical analysis, text analysis, and supervised machine learning, to analyze performance ratings and trends [14] - The report will use a three-year rolling average for World Bank and IFC projects and a six-year rolling average for MIGA guarantee projects due to the small number of projects evaluated annually [19] - The analysis will include breakdowns of performance ratings across various dimensions, such as region, fragile and conflict-affected situations (FCS), and country lending group [19] Performance Ratings and Outcome Types - The report will analyze the performance ratings of World Bank projects, including outcome, efficacy, and Bank performance, using a six-point scale [63][64][65] - For IFC investment projects, the report will assess development outcomes, additionality, investment outcomes, and work quality, using a six-point scale for development outcomes and a four-point scale for other dimensions [72][73][74][75] - The report will also analyze the performance ratings of MIGA guarantee projects, including development outcomes, MIGA effectiveness, and work quality, using a six-point scale for development outcomes and a four-point scale for other dimensions [84][85][86] Factors Linked to Performance - The report will identify factors linked to the performance of COVID-19-exposed operations, including challenges related to procurement, conflict, and institutional capacity [130] - For IFC investment projects, the report will analyze factors such as unfavorable economic conditions, market competition, and sponsor capacity that affect project performance [111][112] - The report will also explore the association between preparation, processing, and preimplementation scoping time and performance ratings for World Bank, IFC, and MIGA projects [18]

Investment Rating - The report does not explicitly provide an investment rating for the industry or sector under evaluation. Core Insights - The World Bank Group's support to Ghana from FY13 to FY23 aimed to address significant development challenges, including fiscal sustainability, energy sector issues, and education and skills development [2][3][15][57]. Summary by Relevant Sections Background and Country Context - Ghana experienced economic growth with a GDP per capita increase of 2.3% annually from 2013 to 2022, but faced a macroeconomic crisis by 2022, marked by a 54% inflation rate and a declared debt default [4][6]. - The poverty rate, which decreased from 64.2% in 1991 to 25.7% in 2012, is projected to rise to 33.4% by 2025 due to the impacts of the COVID-19 pandemic and inflation [7]. World Bank Group in Ghana - The Bank Group's strategies during the evaluation period included the FY13–16 Country Partnership Strategy (CPS) and the FY22–26 Country Partnership Framework (CPF), focusing on job creation, economic stability, and social equity [18][20]. - Total new commitments from the World Bank to Ghana reached US$5.73 billion between FY13 and FY23, with a significant portion allocated to energy and extractives [24][29]. Special Themes Fiscal Sustainability - Ghana's fiscal challenges included weak revenue mobilization, high expenditures, and significant risks in the energy sector, leading to a high risk of debt distress [40][41]. - The tax-to-GDP ratio averaged 12.8% from 2013 to 2020, below the averages of lower-middle-income countries and Sub-Saharan Africa [40]. Energy Sector - Despite high electricity access rates, the energy sector suffers from reliability issues, high costs, and below-cost-recovery tariffs, with access disparities between urban (95%) and rural (74%) areas [44]. - The Bank Group's support included the Sankofa Gas Project aimed at improving electricity generation reliability, but challenges remain due to high distribution losses and financial instability in state-owned enterprises [45][47]. Education and Skills Development - Ghana has made progress in basic education access, with gross enrollment ratios near 100%, but learning outcomes remain low, particularly in mathematics and English proficiency [50][51]. - The government has prioritized education spending, averaging 6% of GDP from 2011 to 2020, with the Bank Group being a significant contributor to the sector [52][54].

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Reducing the impact of climate change on poor and vulnerable households is essential for hastening poverty reduction. Policies that reduce hazards and/or vulnerability while bringing non-climate benefits should be prioritized [8][13][19] - The framework presented in the report examines the relationship between climate and poverty, focusing on how climate change and climate policies affect household welfare [14][20] - The report emphasizes the need for policies that address climate hazards while minimizing non-climate costs for poor households [16][17] Summary by Sections 1. Background - The World Bank aims to end poverty on a livable planet, highlighting the relationship between poverty and climate objectives. Climate change poses a significant threat to the livelihoods of poor households, necessitating urgent action [19] 2. The Welfare Impacts of Climate - The report introduces an asset-based framework to analyze how climate outcomes affect household income and consumption. Poor households are particularly vulnerable due to their reliance on natural resources and lack of access to financial instruments [23][25] - The hazard, exposure, and vulnerability framework is used to understand the impacts of climate change on welfare, emphasizing that vulnerability varies across households based on their assets and context [29][30] 3. The Welfare Impacts of Climate Policies - Policies that address climate hazards and provide non-climate benefits should be prioritized. Examples include climate-smart agricultural practices and investments in clean energy access [16] - The report discusses the trade-offs inherent in climate policies, particularly the short-term costs that may affect poorer communities during transitions to renewable energy [17] 4. Measuring the Welfare Impacts of Climate Change - The report outlines the importance of vulnerability or damage functions in measuring welfare impacts, which relate losses in welfare to climate conditions. Various methodologies are discussed for estimating these impacts [52][53]

Solomon Islands: Country Economic Memorandum Unlocking New Sources of Economic Growth July 2024 Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized 2 Solomon Islands: Country Economic Memorandum Acknowledgement: The team would like to acknowledge and thank all those who provided input to this analysis. Lodewijk Smets and Reshika Singh managed the task. The lead authors for Chapter 1 and 2 are Lodewijk Smets and Lachlan McDonald. Chris Miller le ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Global extreme poverty reduction has slowed significantly, with projections indicating that the 2020s may be a lost decade for poverty alleviation efforts [12][19] - The extreme poverty rate in 2024 is reported at 8.5%, which is a slight improvement from the pre-pandemic level of 8.8% [23] - The number of economies with high inequality has decreased to a 24-year low, yet 1.7 billion people still live in high-inequality economies, primarily in Sub-Saharan Africa and Latin America [24] Summary by Sections Overview - The report highlights that poverty reduction has stalled globally, particularly in poorer countries, exacerbated by the COVID-19 pandemic and ongoing conflicts [18][19] Global Poverty Update and Outlook - Extreme poverty remains above pre-pandemic levels in low-income countries, with significant regional disparities [1.2][1.4] - Projections indicate that poverty levels will not return to pre-pandemic rates until well into the future [1.3][1.5] Shared Prosperity - Progress in shared prosperity has stagnated since the pandemic, with a need for comprehensive approaches to address structural inequality [2.6][2.16] - The report emphasizes the importance of reducing within-country inequality to accelerate poverty reduction [24] Livable Planet - Poor countries are lagging in climate adaptation efforts, with a significant portion of their populations exposed to extreme weather events [25][26] - The report calls for differentiated policy priorities for low-income economies to focus on long-term growth and resilience [27][28] Monitoring the Interlinked Goals - The report advocates for a holistic approach to measuring well-being and risks, emphasizing the need for robust data to inform policy decisions [4.1][4.2]

Investment Rating - The report does not explicitly provide an investment rating for the industry under review. Core Insights - The FY24 Management Action Record (MAR) reflects on the progress made in implementing 77 recommendations from 28 evaluations, with a focus on accountability, learning, and adaptation within the World Bank Group (WBG) [8][12][19]. - Management's self-assessment indicates a more balanced distribution of progress levels, with 34% of recommendations assessed at the "limited evidence" level, an increase from 19% in FY23 [9][10]. - The report highlights the importance of aligning evaluation recommendations with ongoing WBG initiatives to enhance development effectiveness [13]. Summary by Sections Overview of Performance - The FY24 MAR continues to improve the accessibility of information and reflects on the context of its development, including lessons learned and future outlook [4][8]. Evidence of Progress and Self-Assessment - Management's assessments show that 34% of recommendations are at the "limited evidence" level, while 22% achieved a "change of direction" level, indicating early progress for some recommendations [9][10]. - The volume of recommendations increased by 31% in FY24, with management working to address overlapping elements to reduce redundancy [12]. Thematic Groupings and Evaluation Topics - The report categorizes evaluations into themes such as People, Planet, Infrastructure, Digital, and Prosperity, aligning with the WBG's vision of a "world free of poverty on a livable planet" [15][18]. - Specific evaluations focus on areas like undernutrition, disaster risk reduction, and urban resilience, with active recommendations aimed at improving outcomes in these sectors [18][19]. Management Assessment for Each Recommendation - Detailed assessments of recommendations indicate varying levels of progress, with some recommendations proposed for retirement based on their achievement levels [19][20].

Investment Rating - The report does not explicitly provide an investment rating for the industry under study. Core Insights - The Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) increased intraregional trade among Central American countries by 27 percent, while the impact on Central American exports to the United States was positive but not statistically significant [3][10]. - The average trade-enhancing effect of CAFTA-DR among Central American countries is estimated at 31 percent, contrasting with the insignificant effect on exports to the U.S. [10][41]. - The report emphasizes the importance of controlling for member-specific globalization dynamics and using domestic trade flows to accurately capture the effects of trade agreements [3][10]. Summary by Sections Introduction - Regional trade agreements (RTAs) have become a primary channel for trade liberalization, especially in developing countries, due to stagnation in multilateral negotiations [7]. - CAFTA-DR, one of the first RTAs between the U.S. and developing countries, aimed to promote both intra-regional trade and trade with the U.S. [8][9]. Trade Integration in Central America - CAFTA-DR represents a significant step in the region's trade integration efforts, providing greater market access and reducing trade barriers [18][20]. - The agreement was part of a long-term trend of trade liberalization in Central America, following earlier initiatives like the Central American Common Market [17][20]. Data - The report utilizes the Eora Multi-Region Input-Output (MRIO) database, which includes comprehensive trade flow data across sectors for 189 countries from 1990 to 2015 [21][22]. - The dataset allows for the analysis of both international and domestic trade flows, which is critical for accurate estimations of trade agreement effects [21][22]. Methodology - The study employs a structural gravity model to estimate the effects of CAFTA-DR, focusing on the heterogeneous impacts across different countries and sectors [23][29]. - The empirical strategy includes controlling for globalization dynamics and using a robust specification to capture the specific effects of CAFTA-DR [28][32]. Results - The report finds that while the average RTA effect is positive, CAFTA-DR had a negative impact on bilateral trade among member countries, decreasing trade by an average of 12 percent [38][39]. - Intra-regional trade among Central American countries increased by 31 percent as a result of CAFTA-DR, indicating a positive effect on regional integration [41][42]. - The negative impact on U.S. exports to Central America is attributed to unaccounted U.S.-specific globalization effects and a shift in trade dynamics among CAFTA-DR members [46][47].

Investment Rating - The report does not explicitly provide an investment rating for the industry analyzed Core Insights - The interaction between credit guarantee and employment protection programs during crises, particularly in the context of the COVID-19 pandemic, is crucial for understanding their impact on firm indebtedness and risk [3][8] - The Chilean public credit guarantee program represents 4.6% of GDP, while the employment insurance program accounts for 0.62% of GDP, indicating a significant disparity in the scale of these interventions [9][24] - Riskier firms are more likely to obtain credit guarantee loans, while the employment program's uptake is not significantly associated with risk, suggesting different incentives for firms [11][12] - The coexistence of both programs helps mitigate the increase in firm indebtedness, as firms receiving employment benefits have less need for credit [12][17] - The aggregate expected loss from the credit program is estimated at 0.27% of GDP, with 41% absorbed by the government and 59% by the banking system [14][15] Summary by Sections Introduction - The report discusses how government interventions during economic crises aim to assist firms while balancing the risk of increasing overall indebtedness [7] Government Crisis Credit and Employment Programs - The Chilean government implemented two major programs to support firms during the pandemic: a public credit guarantee program and an employment protection program [24][25] - The credit program allows for significant liquidity access, while the employment program covers salaries for workers not currently employed [26][27] Credit Distribution Across Firms - The report analyzes the selection of firms into the credit and employment programs based on their risk profiles and sales growth [39] - A significant portion of firms, approximately 24%, utilized guaranteed loans by December 2020, indicating a robust uptake compared to other Latin American countries [28] Risk and Selection - The credit allocation is characterized by a shift towards riskier firms, with demand factors driving the expansion of indebtedness [13] - The report highlights that banks are more cautious in approving loans for riskier firms, indicating a balance between demand and supply in credit allocation [13] Aggregate Implications - The report concludes that the design of the credit program, including caps on credit amounts and interest rate ceilings, helps mitigate risks associated with lending to risky firms [18][19] - The findings suggest that the lessons learned from the Chilean experience could inform future credit and employment policy responses to crises [18]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The South Asia Regional Trade Facilitation Program (SARTFP) aims to enhance regional connectivity and promote women's economic empowerment through trade facilitation, particularly in Bangladesh, Bhutan, India, and Nepal [6][18] - SARTFP has informed over $10 billion in World Bank investments through various activities focused on transport connectivity, trade facilitation, and local enterprise development [7] - The program emphasizes gender inclusion, ensuring that women stakeholders benefit equitably from regional integration efforts [16][18] Summary by Sections Introduction - The report outlines the importance of grassroots women producers and entrepreneurs, highlighting the need for knowledge sharing and advocacy to scale successful interventions for women's economic empowerment [9] Road to Jobs and Dignity - The WeCARE Program in Bangladesh has employed 795 women in road construction and maintenance, providing them with skills and enabling them to achieve self-sufficiency [27][33] - Childcare facilities have been integrated into projects to support women's participation in the workforce [33] Women at the Forefront of Revitalizing Tourism - The Buddhist Circuit Development Project aims to enhance local economic development and tourism, with a focus on empowering women through community-led enterprises [36][41] Sailing the Uncharted Waters - The Assam Inland Water Transport Project has improved safety and efficiency for women operators in the transportation sector, encouraging their participation in economic activities [50][54] Building Agri-Entrepreneurs Across South Asia - The report highlights the role of women in the cardamom value chain in Nepal, showcasing successful entrepreneurs who have improved their businesses through training and support [58][63] Empowering Women in the Power and Utilities Sector - The WePower initiative aims to increase women's participation in the energy sector through training and policy changes, addressing gender gaps in this traditionally male-dominated field [67][73]