ORLD BANK GROUP Leveraging Private Sector Investment in Digital Communications Infrastructure in Eastern Africa World Bank Group July 2024 ic Disclosure Author lic Disclosure Author & 2024 The World Bank Group 1818 H Street NW, Washington, DC 20433 Telephone: +1 202-473-1000; Internet: www.worldbankgroup.org Some rights reserved 1 2 3 4 21 20 19 18 The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of the World Bank Group, its Board of Executive Direct ...

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - Saudi Arabia's Vision 2030 emphasizes gender equity and the empowerment of women in technical and vocational education and training (TVET), which is crucial for economic growth and sustainable development [7][31] - Closing the gender employment gap could lead to a significant increase in GDP per capita, with estimates suggesting over 40% growth for Saudi Arabia by 2050 [7][11] - The report identifies persistent challenges in women's participation in TVET, including societal stereotypes, institutional policies, and personal constraints [10][11][39] Summary by Sections Introduction - The report outlines the importance of women's skill development in Saudi Arabia's labor market and the reforms made since 2017 to reduce barriers to women's access to employment [31][32] - It highlights the economic potential of women's participation in vocational education and training, estimating a contribution of $400 billion by 2030 [32][33] Gender-Equity - Gender disparities in TVET are linked to societal norms, institutional policies, and personal motivations, which collectively hinder women's participation [38][41] - The report emphasizes the need for targeted interventions to promote gender equity in TVET, particularly in STEM fields [40][41] Current State of Gender Reform in Saudi TVET - The report reviews the achievements of the Technical and Vocational Training Corporation (TVTC) in promoting women's participation in TVET and identifies ongoing challenges [11][33] - It notes that while female labor force participation has increased, women still face significant disadvantages in securing employment compared to men [11][33] International Lessons on Advancing Gender Equity in TVET - The report draws on international best practices to address gender barriers in TVET, including public awareness campaigns, mentorship programs, and financial incentives for female trainees [14][21][24] - It suggests that a comprehensive approach involving multiple stakeholders is essential for creating an inclusive ecosystem for women in TVET [23][26] Conclusion: Implementing Change in Saudi Arabia - The report concludes with recommendations for advancing gender equity in Saudi Arabia's skills development system, emphasizing the importance of policy alignment and stakeholder collaboration [24][26]

AARMI Advancing Zero-Emission Fuels in Washington's Shipping Sector Roadmap to 2050 Report / July 2024 Authors and Acknowledgments Authors Aparajit Pandey Jane Sadler Andrew Waddell Authors listed alphabetically. All authors are from RMI unless otherwise noted. Contributors We would like to thank the following organizations for their valuable feedback and contributions to this study: • Consortium for Hydrogen and Renewably Generated E-Fuels (CHARGE) — Vishal Agarwal, Melanie Eng, Aaron Feaver, Aida Urazaliy ...

Yemen ECONOWIC WONITOR Navigating Increased Hardship and Growing Fragmentation Spring 2024 ic Disclosure Auth ic Disclosure Autho Yemen Economic Monitor Navigating Increased Hardship and Growing Fragmentation Spring 2024 Global Practice for Macroeconomics, Trade & Investment Middle East and North Africa Region © 2024 International Bank for Reconstruction and Development/The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org This work is a product of the staff ...

Investment Rating - The report does not explicitly provide an investment rating for the World Bank Group's activities in Georgia Core Insights - The World Bank Group (WBG) is perceived to have significantly improved its effectiveness in Georgia, with high ratings for its role in development and alignment with local priorities [17][52][134] - Stakeholders express a desire for the WBG to enhance collaboration with the private sector, civil society, and local government to increase its impact [141][176] - Education remains the top priority for WBG's focus, followed by regional development and climate change, indicating a shift in stakeholder priorities compared to previous years [110][172] Summary by Sections Objectives - The survey aims to understand stakeholder perceptions of the WBG's effectiveness, relevance, and alignment with Georgia's development priorities [7] Methodology Overview - The survey was conducted from November 2023 to January 2024, with a total of 226 respondents participating, yielding a 26% response rate [8][9] Overall Context - Respondents indicated that the WBG could improve effectiveness by engaging more with local communities and tailoring solutions to specific needs [17] Key Indicators - Familiarity with the WBG increased from a mean rating of 6.9 in FY21 to 7.8 in FY24, with higher familiarity among those collaborating with the WBG [19][20] - Trust ratings for the WBG improved, with local government and government institutions showing the highest levels of trust [38][46] Development Priorities - Education is the most important area for WBG focus, with 62% of respondents prioritizing it, followed by regional development at 46% [110][172] Engagement on the Ground - Stakeholders expressed the need for more intensive engagement with civil society and the private sector to enhance project effectiveness [131][176] Financial Instruments and Knowledge Work - Respondents rated the WBG's financial instruments positively, with a mean rating of 8.6 for meeting Georgia's needs [153][154] Future Role of the World Bank Group - Stakeholders suggest that the WBG should prioritize targeted investments in key sectors and strengthen capacity-building initiatives [169][172] Communication and Outreach - Events and direct contact are preferred methods for stakeholders to receive communications from the WBG [180]

Investment Rating - The report does not explicitly provide an investment rating for the World Bank Group's activities in Bhutan Core Insights - The World Bank Group (WBG) is perceived as increasingly effective and relevant in Bhutan, with significant improvements in stakeholder perceptions compared to previous years [28][38][55] - Stakeholders emphasize the need for the WBG to strengthen collaboration with local entities and enhance private sector engagement to foster economic growth [26][66][113] Summary by Sections Objectives - The survey aimed to understand stakeholder perceptions of the WBG, focusing on familiarity, effectiveness, alignment with development priorities, and communication preferences [7][8] Methodology Overview - Conducted from November 2023 to January 2024, the survey had a 51% response rate with 155 participants, primarily from Bhutan [9][203] Overall Context - Bhutan's small economy limits business opportunities, necessitating increased exports and multi-economic activities. The WBG could support private sector growth through low-interest loans and international business connections [20] Familiarity with the World Bank Group - Familiarity with the WBG remained stable at a mean rating of 6.0, with higher familiarity among those collaborating with the WBG [22][24] Overall Attitudes Toward the World Bank Group - Stakeholders expressed a desire for the WBG to enhance collaboration with local stakeholders and promote private sector engagement [26][27] Improvement Across Key Performance Indicators - Ratings across key indicators have improved significantly, with private sector respondents rating the WBG's relevance at a mean of 8.3 [28][41] World Bank Group's Support for Development Areas - Stakeholders identified digital development, private sector development, and climate change as top priorities for WBG resources [67][68] Effectiveness of WBG's Sectoral Support - The WBG's work in health and public sector governance received high effectiveness ratings, while digital and private sector development were rated lower [68][73] Communication and Outreach - Events and direct contact were preferred channels for receiving information from the WBG, with social media also being significant [131][133] Future Role of the World Bank Group in Bhutan - Stakeholders emphasized the importance of building local capacity and diversifying the economy through targeted investments [113][121]

Investment Rating - The report does not explicitly provide an investment rating for the industry under consideration. Core Insights - The Clean Development Mechanism (CDM) has developed over 250 project-based methodologies that can inform baseline-setting methods under Article 6 of the Paris Agreement to ensure environmental integrity and increased mitigation ambition [8][9] - The transition from the Kyoto Protocol to the Paris Agreement requires reassessment of CDM methodologies to align with new requirements, focusing on ambition-raising and addressing key risks such as over-crediting and perverse incentives [9][10] - Article 6.2 aims to facilitate cooperative actions to reduce global greenhouse gas emissions, necessitating operational rules and procedures to be established promptly [11][12] Summary by Sections Introduction & Objectives - Article 6.2 of the Paris Agreement is designed to contribute to global GHG emissions reduction through cooperative mechanisms [11] - The operationalization of Article 6.2 is urgent to meet global temperature goals [11] Considerations for Article 6.2 Baselines - Baseline determination is crucial for Article 6.2, requiring methodologies that are transparent, credible, and below business-as-usual levels [16][18] - The report emphasizes the need for performance-based approaches in setting baselines, including best available technologies and ambitious benchmarks [17][18] Managing Risks with Article 6.2 Baselines - The report identifies risks such as over-crediting and the need for robust baseline settings to mitigate these risks [18][30] - It suggests that baselines should reflect future policy impacts and not incentivize short-term gains over long-term decarbonization [31][32] Testing Article 6.2 Concepts with CDM Methodologies - The report discusses the adaptation of existing CDM methodologies to align with Article 6.2 requirements, emphasizing the need for simplicity and predictability in baseline setting [43][44] - It highlights the importance of considering the unique circumstances of different countries and sectors when applying baseline methodologies [56] Conclusions - Article 6.2 baselines must evolve beyond CDM methodologies to effectively support NDC achievement and ambition-raising [56][57] - The report advocates for a phased approach to baseline setting, starting with simpler methods and transitioning to more complex ones as capacity improves [57]

Investment Rating - The report downgrades Moutai, Wuliangye, Laojiao, and Yanghe from Buy to Neutral, while reiterating Sell on Swellfun and Fenjiu due to their demanding valuations. Gujing is rated as the top pick with a Buy rating [4][7][39]. Core Viewpoints - The supply/demand dynamics for the baijiu sector are expected to deteriorate over the next 12 months due to potential destocking of Moutai's social inventory, capacity expansion by industry leaders, and ongoing macroeconomic challenges. The average EPS CAGR for the baijiu sector is projected to moderate to 8% from 19% during 2020-23 [1][4][39]. - The combined capacity of the top six baijiu companies is anticipated to expand by 37% from 2023 levels, while the primary drinking demographic (males aged 30-59) is expected to decline, leading to a potential 13% volume decline in baijiu consumption during 2023-25E [3][39][40]. Summary by Sections Earnings and Valuation - The report projects 2024E/25E earnings to be 8% and 17% below consensus on average. The baijiu sector is currently trading at 17x 12-month forward PE, compared to a historical average of 22x and a trough of 10x since 2010 [1][15][41]. Supply and Demand Dynamics - Moutai's wholesale prices are under pressure due to accumulated social inventory, estimated at 14-15 months' worth of sales, with an average holding cost of Rmb2,079 per bottle, approximately 10% below current prices. If supply is not contained, Moutai and Wuliangye's wholesale prices could fall by 50% and 17% respectively by the end of 2025 [2][30][33]. Demographic Trends - The primary baijiu consumer cohort is experiencing a population decline, which is expected to negatively impact sector volume growth. The report estimates a potential 13% decline in total baijiu consumption volume from 2023 to 2025 [3][39][40]. Company-Specific Insights - Gujing is highlighted as the most preferred stock due to its margin expansion opportunities, while Swellfun and Fenjiu are rated as Sell due to their high valuations [4][39].

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The report introduces a practical framework to assist the Ministry of Rural Development (MRD) of Cambodia in prioritizing investments and interventions for rural roads to achieve climate-resilient rural accessibility for poverty reduction, human development, and logistic supply [12][13]. - The proposed framework utilizes two core geospatial models: the Flood Disruption Model and the Logistic Supply Chain Model, to identify critical and climate-vulnerable road sections for prioritized interventions [13]. - The report emphasizes the importance of rural roads, which account for about 75% of Cambodia's total road network, in providing access to services and economic opportunities for the rural population [19][20]. Summary by Sections Introduction - The report aims to assist MRD in prioritizing rural road investments for climate resilience [12]. - The audience includes officials and decision-makers at MRD and other rural road authorities facing similar challenges [14]. Cambodia's Rural Road in the Face of Climate Change - Cambodia's rural road network spans over 47,000 km, with 90% remaining unpaved and undrained, posing challenges during the rainy season [20]. - Climate change increases vulnerability, with projections indicating a temperature rise of 0.7℃–2.7℃ by 2060 and more frequent extreme precipitation [24]. A Prioritization Framework for Resilient Rural Road Planning - The framework prioritizes communes based on a multicriteria analysis and selects roads through context-specific assessments [29]. - It integrates three development lenses: Inclusiveness, Human Development, and Logistic Supply, with six indicators to quantify the criticality of rural roads [30][31]. Underpinning Geospatial Models - The report details two geospatial models: the Resilient Accessibility Model and the Logistic Supply Model, which assess the criticality and vulnerability of rural roads [40]. - The Resilient Accessibility Model evaluates accessibility to key facilities, while the Logistic Supply Model simulates supply chain disruptions due to road closures [60]. Revealing the Climate Vulnerability of Rural Roads - The analysis reveals that about 70% of the rural population has access to referral hospitals within 60 minutes, and two-thirds can reach high schools within 30 minutes [71]. - The report highlights the significant impact of flooding on accessibility, with a focus on the socio-economic implications of road disruptions [70].

Industry Overview - The logistics sector is showing signs of normalization after the post-pandemic boom, with cooling demand, falling volumes, and inflationary pressures impacting near-term revenue forecasts [20][21] - Despite short-term challenges, the 5-year forecasts for most brands have improved year-on-year, with revenues expected to rebound once demand picks up [21] - Freight rates remain near the bottom of the market compared to the immediate post-pandemic highs [21] Top Logistics Brands - UPS retains its position as the most valuable logistics brand for the 10th consecutive year, valued at USD34.6 billion, with a AAA- brand strength rating and a Brand Strength Index (BSI) score of 80.9 [22][24] - FedEx follows as the second most valuable logistics brand, with a brand value of USD28.6 billion, down 1% from the previous year [24] - DHL ranks third with a brand value of USD12.2 billion, driven by strategic investments in sustainability, digitalization, and e-commerce capabilities [26] - JR remains the strongest logistics brand with a AAA rating and a BSI score of 86.9, despite a 13% decline in brand value to USD11.9 billion [23][27] - JINGDONG Logistics (JD Logistics) is the second strongest brand, with a brand value of USD3.5 billion, up 1%, and a BSI score of 85.2 [27] Brand Value Growth - CPKC experiences the largest brand value growth by percentage, surging 28% to USD2.7 billion, driven by its newly integrated North American network [29] - DoorDash sees a 14% increase in brand value to USD4.3 billion, climbing six ranks to become the 12th most valuable logistics brand [29] - dpd records a 10% growth in brand value to USD3 billion, supported by innovative sustainability measures such as its "Green Hub" in London [32] Sustainability Perceptions - UPS holds the highest Sustainability Perceptions Value at USD3 billion and the highest positive gap value of USD224 million, reflecting its strong sustainability efforts [34][36] - UPS aims to have 28.8% of its ground operations running on alternative fuels and has planted 34.2 million trees as part of its goal to plant 50 million trees by 2030 [36] - dpd's "Green Hub" in London, designed to be diesel-free, handles up to 80,000 parcels daily using 500 electric delivery vans and solar panels for renewable energy [32] Regional Insights - The United States dominates the logistics sector, contributing 22% of the total brand value with USD95.3 billion, followed by Germany at 13% with USD22.5 billion [39] - China accounts for 9% of the total brand value with USD14.9 billion, while Japan contributes 7% with USD11.9 billion [39]