（原标题：萨拉热窝将首次引入电动公交车） 波黑媒体BiznisInfo 2月23日报道。为改善空气质量，波黑联邦环境与旅游部近日发 布公开采购招标，将为萨拉热窝购置新型公交车。此次采购包括5辆低地板电动公交车 （配6台单枪或4台双枪充电桩）及5辆新型柴油公交车。 该项目是世界银行支持的低排放交通转型计划（第三部分）的一部分，资金来源 于世界银行贷款，由萨拉热窝州交通部负责实施，旨在推广低排放公共车辆并优化车 队管理。采购程序将遵循世界银行规定执行。此次招标的车辆预计于2027年交付，届 时萨拉热窝公共交通史上将首次出现电动公交车。 什泰塔还透露，今年内将启动新一轮有轨电车采购程序，目标是在2030年前再引 进30辆新车，从而实现全部公共交通车队更新，运行于新建及翻新的基础设施之上。 （驻波黑使馆经商处） ...

Core Viewpoint - The Thailand Industrial Estate Authority (IEAT) has secured a $100 million loan from the World Bank to support projects aimed at reducing carbon dioxide emissions in industrial parks and facilitating carbon credit trading [1] Group 1: Loan and Financial Support - The $100 million budget is part of a larger $200 million loan from the World Bank aimed at supporting Thailand's low-carbon city and carbon market development plans [1] - The Thai cabinet approved the plan at the end of last year and instructed the Ministry of Finance to guarantee the loan provided to the Export-Import Bank of Thailand [1] Group 2: Carbon Credit Trading and Renewable Energy - IEAT aims to promote the use of ground-mounted solar power plants, floating solar power plants, and rooftop solar panels [1] - Carbon credits, which represent the amount of greenhouse gas emissions reduced by environmental projects, can be sold to companies looking to offset their emissions, making them a crucial tool in global climate strategies [1] - The carbon credits will be certified under the Gold Standard, a recognized benchmark for measuring the quality and integrity of carbon reduction projects [1] Group 3: Potential and Goals - A preliminary study by the World Bank identified the Map Ta Phut and Laem Chabang industrial zones as having potential for carbon credit trading-related projects [1] - The Ministry of Energy is preparing to select development areas and invite investors to participate in renewable energy projects [1] - Thailand aims to reduce cumulative greenhouse gas emissions by 2.33 million tons of CO2 equivalent within the next ten years [1]

本次"道路资产管理改善项目"将重点满足波黑联邦道路网络的关键需求。计划投资涵盖约150公里 主干道的修复与升级，并遵循最高安全与韧性标准。除实体工程外，项目将强化道路网络的规划与管理 能力，确保基础设施得到长期妥善维护，并提高公共资金使用效率。项目还设应急响应机制，可在重大 紧急情况下快速调整资金用途，支持道路部门恢复运行。 世界银行指出，待升级的优先道路多为日常交通要道，其改善将提升波黑联邦的日常通勤便利性， 拓展经济机遇。（驻波黑使馆经商处） （原标题：世界银行批准7000万欧元贷款助力波黑联邦交通升级） 波黑国家台2月12日报道。世行拟向波黑提供7000万欧元贷款，用于提升交通连接水平与道路基础 设施现代化，以推动就业增长和经济发展。欧盟通过西巴尔干投资框架（WBIF）同步提供850万欧元赠 款，彰显国际合作伙伴的紧密协作。 ...

Core Viewpoint - The shifting U.S. policy towards China reflects the growing economic disparity, with China's GDP surpassing that of the U.S. by a significant margin, leading to a reevaluation of military and economic strategies [2][5][12]. Economic Comparison - By 2025, China's GDP is projected to reach 41 trillion USD, while the U.S. GDP is expected to be 30 trillion USD, indicating that China's economic scale is now more than 1.3 times that of the U.S. [3][5]. - China's manufacturing output is reported to be over four times that of the U.S., showcasing a substantial lead in industrial capabilities [5][12]. Military and Strategic Adjustments - The U.S. military strategy has shifted to view China as a near-peer competitor rather than a primary threat, focusing on economic and diplomatic engagement instead of military confrontation [9][14]. - The Pentagon's 2025 report emphasizes the importance of economic competition and cooperation in the Indo-Pacific region, moving away from a purely militaristic approach [10][14]. Trade and Cooperation - The economic interdependence between the U.S. and China is highlighted, with China being a significant market for U.S. technology, and the U.S. easing some export restrictions on high-end chips to China [20]. - The Trump administration's approach has evolved from confrontation to a more pragmatic strategy aimed at economic rebalancing, recognizing the limitations of military power in addressing the challenges posed by China [20]. Industry-Specific Insights - In the shipbuilding industry, China's production capacity vastly outstrips that of the U.S., with China delivering 51.81% of global ship orders by 2025, compared to the U.S.'s minimal output [7]. - The U.S. shipbuilding costs are reported to be two to three times higher than the global average, indicating inefficiencies that hinder competitiveness [7]. Future Outlook - The ongoing dialogue between the U.S. and China, including planned high-level meetings, suggests a potential for increased cooperation despite existing tensions [18]. - The recognition of mutual economic benefits indicates a shift towards a more collaborative approach, with both nations needing to respect each other's positions to address shared concerns [20].

Core Viewpoint - The World Bank forecasts Zimbabwe's economy to grow by approximately 5% this year, significantly outperforming the global average growth rate of 2.6% and slightly above the Sub-Saharan Africa growth rate of 4.3% [1] Economic Outlook - The optimistic outlook is based on improvements in the country's macroeconomic conditions, including the government's commitment to maintaining price, exchange rate, and public finance stability [1] - Agriculture and mining are expected to be the main growth engines, supported by favorable commodity prices and policy backing [1] - Manufacturing and services are also anticipated to contribute to growth due to improved electricity supply and business environment reforms [1] Risks and Challenges - Despite the positive outlook, risks remain, including climate shocks, weak external demand, and changes in global financial conditions [1] - The World Bank emphasizes that emerging markets and developing economies need to strengthen their macroeconomic frameworks and eliminate structural bottlenecks through domestic reforms to attract investment and achieve long-term growth [1] Social Development - For Zimbabwe, converting economic growth into inclusive development in areas such as education and health is crucial for consolidating current growth momentum and addressing external challenges [1] - Maintaining the credibility and predictability of economic policies is essential for sustaining growth [1]

Report Industry Investment Rating No relevant information provided. Core Viewpoints of the Report - The tourism industry in low - and middle - income countries is regarded as a powerful driving force for economic growth, employment creation, and the protection and inheritance of cultural and environmental assets. The World Bank plays a strategic role in tapping the development potential of tourism by providing development assistance, including technical support and funding for global tourism projects [11]. - The report shares the key lessons learned by the World Bank in tourism knowledge and operations over the past 10 years. It analyzes trends in research and design and factors influencing successful outcomes, and provides actionable suggestions for sustainable and inclusive development of the tourism industry [12][13][14]. Summary According to the Table of Contents World Bank's Role Evolution in Tourism Development - The World Bank has been involved in the tourism industry since the early 1960s. By 1980, it had supported tourism development in 27 countries, raising over $1 billion for large - scale projects. As of 2007, it had funded about 94 projects with a total amount of about $3.5 billion [15][16]. - In the 2010s, the World Bank's tourism portfolio grew steadily. Due to the COVID - 19 pandemic, it had to adapt quickly, providing assistance such as strengthening the health system, automating and digitizing tourism products and services, etc. After the pandemic, the demand for tourism support mainly focused on diversification, sustainability, and strengthening the tourism value chain [17][20]. - Currently, the World Bank is supporting 71 active tourism - related projects in 47 countries, with a total committed amount of $7.58 billion. From fiscal year 2012 to 2022, the compound annual growth rate (CAGR) of the World Bank's tourism - related loans reached 16%, more than twice the overall loan growth rate [21]. Tourism as a Development Tool: Evidence and Impact - **Economic Impact**: Economics literature supports that tourism plays a key role in promoting national economic growth. Empirical studies show positive impacts on local and national economic growth. For example, a 10% increase in local hotel revenue in Mexico led to a 4% increase in nominal local GDP [26]. - **Employment and Inclusion**: Tourism is considered a strong factor in promoting employment, especially among women and youth. 53% of those employed in tourism are women, and the youth employment rate in tourism is relatively high. However, tourism jobs often have lower salaries, are more seasonal, and are more likely to be part - time [27][29]. - **Social and Environmental Impact**: Tourism can generate significant social and environmental benefits if the proceeds are reinvested in community development and protection. However, most literature emphasizes the negative impacts, such as carbon emissions, increased pressure on water use and waste management systems, and social issues like sexual exploitation [30][31]. World Bank Technical Assistance - The World Bank provides technical assistance in areas such as circular economy, blue tourism, etc. It includes destination research to increase knowledge of specific topics, and approved and peer - reviewed reports are published in the World Bank's publications [36]. - In the past decade, the World Bank has produced 110 tourism publications. Most are destination - oriented technical assistance. The most popular research topics are tourism data, protection, cultural heritage, and inclusion [37]. Common Tourism Analysis Areas - **Economic Benefits**: Tourism can generate direct and indirect economic benefits by creating employment, attracting foreign direct investment, revitalizing rural areas, and enhancing skills. It also has unique economic characteristics, such as increasing real estate value [41]. - **Supply - side Analysis**: In tourism development, special attention should be paid to tourism supply elements. The complexity of the tourism industry and its extended supply chain, along with the large number of micro, small, and medium - sized enterprises, require cross - government coordination and a clear governance framework [42]. - **Gender and Inclusion**: Tourism can increase women's participation in the labor market, leadership roles, and entrepreneurship, but it also has potential risks such as informal part - time work, low wages, and gender - related issues [43]. - **Community Participation**: Communities can benefit from tourism under certain conditions, including strong demand, continuous skill improvement, and reinvestment of tourism revenue in community funds and management [43]. - **Key Tourism Research Gaps**: There are significant gaps in the understanding of how tourism affects poverty, the labor market, land use, and policy outcomes. More research is needed in many aspects, and impact evaluation is particularly scarce [44]. - **Social and Political Issues**: In destination management, more flexible and adaptable methods should be adopted to deal with external social and political challenges, and more research is needed on the diverse impacts of different tourism market segments [45]. World Bank Operations: Tourism Lending Bank - The 85 World Bank tourism projects from 2012 to 2022 can be roughly divided into three types: Type 1 projects target tourism directly, Type 2 are cross - sector projects integrating tourism elements, and Type 3 are environmental and social projects using tourism to achieve broader goals [52][53][49][50]. - Projects led by the national tourism bureau or department, with a design team including tourism expertise, and those involving multiple sectors and having a strong analysis basis tend to perform better. Destination - level tourism development is more effective when projects are geographically concentrated, appropriately scaled, and combine infrastructure investment with private - sector development [65][69][72]. Theory of Change: Paths to Development Driven by Tourism - Based on the analysis of 85 tourism operations, a tourism theory of change was developed, identifying nine common development challenges and 13 common solutions. Long - term outcomes include increased investment, income, and employment, better governance and economic inclusion, and sustainable destinations and assets [75][76]. Suggestions for Improving Tourism Project Design - **Understand the People**: Use innovative data collection methods to fill the gap in tourism data, and improve the government's ability to analyze and share data for evidence - based decision - making [83]. - **Make Collaboration a Pillar**: Strengthen governance and coordination by establishing strong coordination mechanisms and adopting a "whole - of - government" approach [81]. - **Unlock Investment in Small Enterprises**: Identify and address the limitations of micro, small, and medium - sized enterprises in the tourism industry, and provide targeted support [82]. - **Invest in Community - Serving Infrastructure**: Focus on a small number of regional investments, design infrastructure according to verified needs, and match it with technical assistance for governance institutions [84]. - **Restore Rather Than Destroy**: Establish systems to protect tourism assets, and reinvest tourist fees to fill the financing gap in biodiversity protection [85]. - **Measure and Share Results**: Establish a common result framework and a set of core tourism project indicators to achieve more consistent reporting and learning [86].

今天分享的是：波士顿咨询：2026数字货币：香港基金行业倍增式发展机遇研究报告 报告共计：32页 这份由BCG、Aptos Labs与恒生银行联合发布的报告，聚焦数字货币发展背景下香港基金行业的倍增式发展机遇，指出区块链技术推动 的代币化体系正重构全球金融基础设施，2026年成为香港链上金融发展的关键拐点，而代币化创新有望推动香港基金行业规模翻倍。 报告指出，传统金融报文体系存在效率低、结算滞后等痛点，代币化体系凭借价值直接传递、可编程、即时结算的特性成为金融演进新 方向。当前数字货币已步入商业化规模阶段，2025年11月锚定法币的稳定币市值突破3000亿美元，全球超130家央行探索央行数字货币， 代币化存款也在头部银行落地，三者互补共存形成多轨结算生态。代币化资产则从支付向投资领域延伸，2025年代币化基金市值从2024 年20亿美元跃升至80多亿美元，债券、大宗商品、房地产等资产的代币化也加速推进，预计2025至2033年数字货币和代币化资产市场规 模年复合增长率超50%。 三方在香港金管局"数码港元+"试点中，验证了Aptos公有许可链在代币化基金交易中的技术可行性，其具备亚秒级终局性、极低交易成 本， ...

"我们正经历一个极其动荡的时代。"美国麻省理工学院教授、诺贝尔经济学奖得主达龙·阿杰姆奥卢近 日接受媒体采访时表示。 动荡，来自地缘紧张局势延宕，来自保护主义和单边主义冲击贸易秩序，来自大宗商品价格剧烈波动， 来自全球产业链和供应链"碎片化"风险…… 今年1月，世界经济论坛发布的《2026年全球风险报告》显示，不确定性是2026年全球面临的确定性风 险。报告编制过程中开展的问卷调查显示，50%的受访专家认为，今后两年全球局势的动荡将持续，甚 至有可能进一步升级。 国际形势风高浪急，中国经济不因风雨易其行，为世界经济注入宝贵的稳定性与确定性。2025年，中国 经济总量跃上140万亿元新台阶，比上年增长5%，对世界经济增长贡献率保持在30%左右，继续成为全 球增长引擎。 以世界为坐标来观察，中国2025年经济发展成绩单尤为亮眼，成为全球经济增长最稳定、最可靠的动力 源。亚洲开发银行驻中国代表处首席代表阿西夫·奇马表示，尽管面临复杂严峻的内外部环境，中国经 济仍展现出强大韧性和活力。 中国经济稳健前行，不仅源于坚实基本面，也来自持续推进的结构优化与动能转换。2025年，高技术制 造业、装备制造业等增速显著高于工业平 ...

瓜达尔港从渔村蝶变为地区枢纽，拉合尔轨道交通橙线激发古城发展活力，苏吉吉纳里水电站推动能源 保供和绿色转型，红其拉甫口岸实现常年开放……作为共建"一带一路"重要先行先试项目，中巴经济走 廊建设10年多来取得丰硕成果，累计为巴基斯坦带来259.3亿美元直接投资、26.1万个直接就业岗位、 510公里高速公路、8000多兆瓦电力和886公里核心输电网。《黎明报》评论说，中巴经济走廊深刻改变 了巴基斯坦的基础设施、能源结构和贸易格局。 巴基斯坦国际关系与媒体研究所日前发布的一份研究报告显示，2015年至2025年，巴基斯坦民众对中国 的好感度显著增强，主要原因在于中巴经济走廊建设顺利推进、巴中民间互动日益频繁等。报告认为， 自2015年巴中关系提升为全天候战略合作伙伴关系以来，两国不仅巩固了官方层面的互信，还促进了民 间友好往来。 据巴基斯坦《黎明报》报道，这份研究报告由巴国际关系与媒体研究所和世界银行驻巴机构共同完成， 采用问卷调查的形式，受访对象来自巴基斯坦政府、社会组织、企业、智库、媒体等各领域，也包括普 通民众。 2015年，中巴建立全天候战略合作伙伴关系，两国政府确定了以中巴经济走廊建设为引领，瓜达尔港、 ...

Core Insights - The World Bank is providing a loan of $226 million to Ghana to support the country's food security initiatives [1] - The funding will address structural challenges in the agricultural sector and enhance the food security system [1] Group 1: Loan Details - The loan is part of the West Africa Food Systems Resilience Program [1] - The project will be implemented by the Ghanaian government [1] Group 2: Agricultural Focus - The initiative will utilize digital platforms to provide farmers with weather and climate information services [1] - Key agricultural products targeted for increased production include maize, rice, soybeans, tomatoes, and poultry [1] Group 3: Economic Importance - Agriculture is a significant pillar of Ghana's economy, contributing notably to GDP and the job market [1] - The World Bank will continue to support Ghana's agricultural infrastructure development [1]