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 - IMTS 2024 highlighted four key themes: labor force issues, data management challenges, digital transformation for SMEs, and the shift from CAPEX to OPEX business models [3][4][7] Labor Force Issues - The industry faces a shortage of qualified staff, with a significant exodus of skilled workers due to retirement. Collaborative Robots (cobots) and Autonomous Mobile Robots (AMRs) are emerging as solutions to address the lack of low-skilled labor [4] - The re-emergence of companies like Rethink Robotics indicates a vibrant market, although interoperability and ease of setup remain challenges [4] Data Management Challenges - Many manufacturers, particularly SMEs, struggle with data integration, which hampers productivity and innovation. Current solutions often lack third-party certification and are built on proprietary systems [5] - Companies like AWS and Siemens are leading efforts to create interoperable data fabrics, which are crucial for digital transformation [5] Digital Transformation for SMEs - SMEs are particularly affected by labor shortages and lack the resources to transition to digital operations. Solutions need to be low-code or no-code to facilitate this transition [6] - Innovations from companies like Hexagon and Siemens are paving the way for easier digital adoption, with a focus on AI integration [6] Transition to OPEX Business Model - The shift from CAPEX to OPEX is gaining traction as companies seek more flexible business models. Success will depend on controlling the application environment and ensuring interoperability [7] Automation and Robotics - Collaborative Robots (cobots) are increasingly used for machine tending, with companies like Hurco entering this space with robot-agnostic solutions [14][15] - Innovations in AI and machine vision are enhancing the capabilities of robots, enabling them to perform complex tasks more efficiently [26][36] Industrial AI - Major players like AWS and Google Cloud are showcasing how AI can optimize manufacturing processes and improve supply chain management [22][24] - AI applications are being integrated into various manufacturing solutions, enhancing decision-making and operational efficiency [23][27] Manufacturing Cloud and Data Management - The focus on cloud technologies is critical for enabling real-time analytics and AI-driven decision-making in manufacturing [37] - Solutions from Microsoft, AWS, and Google Cloud are aimed at breaking down data silos and improving operational efficiency [38][40][41] Supply Chain Technology - The trend towards reshoring is prompting manufacturers to optimize their supply chains, with a focus on Just-in-Time (JIT) inventory management [49] - Innovations in Supply Chain Management (SCM) from companies like Acumatica are helping manufacturers streamline operations and reduce time to market [50]

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The report emphasizes the urgent need for proactive grid investment to support the rapid growth of electric vehicle (EV) loads, highlighting that current infrastructure deployment is insufficient to meet market expectations [4][16] - It identifies significant uncertainty, existing regulatory paradigms, and utility risk aversion as root causes contributing to the challenges faced by utilities and regulators in planning for EV load growth [5][18] - The report outlines a framework of "building blocks" to guide regulators and utilities in effectively planning for EV load growth, focusing on long-term market expectations and improved load forecasting practices [9][24] Summary by Sections Executive Summary - EV load growth presents challenges for utilities and regulators, with current grid infrastructure deployment being too slow to meet market expectations [4][16] - Root causes include significant uncertainty regarding load characteristics, a reactive regulatory paradigm, and risk aversion among utilities and regulators [5][18] - Recommendations for regulators include leveraging existing tools for forward-looking planning and establishing metrics to track performance [7][25] Understanding the Challenge - The report notes that the number of light-duty and medium-/heavy-duty EVs in the US is expected to rise exponentially, necessitating a rapid buildout of charging infrastructure [10] - By 2035, EV charging is projected to consume about 15% of current electricity production, indicating a substantial increase in electricity demand [11] - The report highlights the distinct characteristics of EV load growth compared to other sectors, emphasizing the need for tailored planning [15][16] Transportation Electrification Building Blocks - The report outlines six building blocks to support effective planning for EV load growth, including setting grid planning guidance, improving load forecasting, and prioritizing efficient use of distribution infrastructure [22][24] - Regulators are encouraged to work with utilities to update planning practices and ensure that best available data on future loads is consistently applied [25] - The framework aims to help answer critical questions regarding infrastructure needs, efficient resource allocation, and necessary changes to meet future demands [9][24] Conclusion - The report concludes that addressing the challenges of EV load growth requires a coordinated approach among regulators, utilities, and stakeholders, focusing on proactive investment and improved planning practices [19][22]

Investment Rating - The report does not explicitly provide an investment rating for Rolls-Royce or the industry [1][2][3] Core Viewpoints - Rolls-Royce has undergone a significant transformation under CEO Tufan Erginbilgiç, with profits more than doubling and the share price surging [1] - The transformation focuses on creating a high-performing, competitive, resilient, and growing business, moving beyond mere restructuring to a more ambitious transformation [2][3] - The CEO emphasizes the importance of culture, strategy, performance management, and execution intensity as key pillars for successful transformation [3][4][6] - Rolls-Royce has implemented 17 strategic initiatives, with a focus on granularity, alignment, and engagement across the organization [7][8] - The company has improved its resilience, with the ratio of total cash cost to gross margin reduced from 0.9 in 2019 to less than 0.5, aiming for 0.4 [11][12] Strategy and Execution - The CEO advocates for a chaotic and inclusive strategy development process, involving 500 key people to ensure alignment and ownership [6] - Strategy is translated into clear initiatives and cascaded down the organization, making it relevant and actionable for employees [7] - Execution is relentless, with a focus on intensity, pace, and rigor, while maintaining clarity and alignment [4][8] Leadership and Culture - The CEO prioritizes assembling a leadership team of individuals who are good business and people leaders, willing to learn, and passionate about success [10] - Culture change is driven by consistent expectations, reinforcement, and performance management, with a focus on purpose and behaviors [13][14][15] - The company's new purpose statement emphasizes powering, protecting, and connecting people everywhere, with behaviors centered on safety, simplicity, and making a difference [15][16] Future Outlook - Rolls-Royce is focused on becoming an execution machine, with further work needed to embed the performance culture and achieve full alignment [19] - The company sees growth opportunities in small modular reactors (SMRs) and microreactors, while continuing to strengthen its competitive position in safety, operational effectiveness, and customer service [19] - The CEO views Rolls-Royce's history and iconic brand as assets for talent attraction and believes the transformation effort is worthwhile [20]

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]

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Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Policy Research Working Paper 10957 Designing Air Quality Measurement Systems in Data-Scarce Settings Bridget Hoffmann Sveta Milusheva Public Disclosure Authorized Development Economics Development Impact Group October 2024 Policy Research Working Paper 10957 Abstract While populations in low- and middle-income countries are exposed to some of the highest levels of air pollution and its consequences, the majority of econo ...

Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Policy Research Working Paper 10956 Fading Away Informality by Development M. Nazım Tamkoç Public Disclosure Authorized Development Economics Global Indicators Group October 2024 Policy Research Working Paper 10956 Abstract This paper focuses on the role of development in informality through higher wages and expanded production possibilities. First, it uses informal, plant-level survey data across countries to document th ...

Public Disclosure Authorized Public Disclosure Authorized Guide to Mobility for Livable Pacific Cities | Part I: Priority Actions for a Car-Lite Future1 Part I: is complemented by Part II: Practitioners' Handbook to Implement the Priority Actions MOBILITY FOR LIVABLE PACIFIC CITIES Priority Actions for a Car-Lite Future Public Disclosure Authorized Public Disclosure Authorized © 2024 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-47 ...