Investment Climate Impact Program
|
|
- Betty Harrington
- 5 years ago
- Views:
Transcription
1 Investment Climate Impact Program Marialisa Motta Director, FPD Latin America & Caribbean Region Investment Climate Practice Paris, November 12, 2012
2 Agenda Investment Climate Space Joint Donor/WBG Impact Program Workshop Objectives 2
3 Investment Climate Strategic Areas CROSS- CUTTING THEMES: Business Regulation for Enterprise Creation and Growth OPERATING PRINCIPLES: Manage for Impact Inclusion/ Gender Economic Governance Competition Green Growth ICT International Trade and Investment Private Participation in Infrastructure and Social Sectors Benchmarks to Spur Reform Innovation/ Incubation Partnerships and Knowledge Crisis Response Capability Investment Climate for Industry 3
4 Why are we increasing our focus on impact? Main drivers Internal drive: to decide what we should more and less of, we need to understand the impact of IC work (on investment, jobs, growth, poverty) Client and donor demand for impact measurements: where should we allocate our funds? WBG management and board IFC Impact Development Goals and WB Scorecard Goal Better understand how to maximize the impact of our work, better manage what we do, make strategic choices and tell meaningful stories. Answer key questions for evidence-based policy making: what works, what doesn t, where, why and for how long? 4
5 Key Partners Internal Partners World Bank Development Impact Evaluation (DIME) unit World Bank Research Department (DECRG) FPD Global Practices, FPD Chief Economist office IFC & FPD Regional Teams The IFC Development Impact Department (CDI) Donor community including USAID, DFID and DCED 5
6 The Investment Climate Impact Framework: Six Key Areas of Work 1. Core results indicators Identify measurable indicators (Outputs, Outcomes and Impacts). 2. Literature reviews Summarize existing research findings on the impact that investment climate reforms have on key economic variables such as firm creation, exports, investment and employment. Assess the changes that can be attributed to a particular reform (or to a specific mix of reforms) and seek to answer cause-and-effect questions. 3. Target setting Estimate Outputs, Outcomes and Impacts at project inception. 4. Impact evaluations Conduct impact evaluations on topics for which we do not have sufficient evidence in the existing literature (cross country or country-specific). Focus on sustainability and inclusion. 5. Value for money: Measure internal effectiveness and efficiency 6. Communication Communicate achievements to all stakeholders. Build a community of practice for implementers in Government and private sector. 6
7 (1) Definition of Core Results Indicators Outputs Outcomes Average number of days to comply with business regulation Average cost to comply with business regulation Number of recommended procedures/firm/policies /practices /standards that were improved/eliminated Number of recommended laws/regulations/amendment s/codes enacted or public policies adopted Number of commitments by investors/private partnerships Number of documents related to trade Number of insolvency cases resolved through the improved insolvency regime Reach indicators Number of firms that benefit from reformed registration requirements Number of firms that benefit from reformed licensing requirements Number of firms that benefit from reformed inspection requirements Number of firms that benefit from debt resolution and business exit processes Number of firms that benefit from improved customs/border services Number of firms that invest Impacts Direct compliance cost savings US$ Private sector savings for trade logistics Investment Generated Returns to creditors Renewable energy expected to be produced (MWh/year) IC Strategic Priorities Fostering Enterprise Creation and Growth Facilitating International Trade and Investment Unlocking Sustainable Investment in Key Sectors Facilitating Private Participation in Infrastructure and Social Sectors* 7
8 (2) Key Findings from the Literature: Business Entry Reduce time and cost of business start up by introducing standard articles of incorporation, eliminating the minimum capital requirement, introducing electronic registration. Liberia example 5 procedures 20 days US$ procedures 99 days US$ 630 Examples of improvements: India: 6% increase in registered firms due to reduction of entry procedures 1 Colombia: 5.8% in newly registered firms due to One-Stop Shop 2 Mexico: 5% new registered firms and 2.8% jobs created due to a One-Stop Shop 3 Improvements are higher when complementing entry reforms with other reforms (eg, labor) To have a significant impact, we need to reduce time by at least 40% Knowledge Gaps: Effects on new firms in low income countries; effects on employment, informality and firm survival. Source: 1. Aghion et al. (2008), 2. Cárdenas and Rozo (2007), 3. Bruhn (2008). Graph source: Doing Business 2008, 2009, and
9 (2) Key Findings from the Literature: Insolvency Improvement to the insolvency legal framework, introduction of out of court workouts and capacity building for insolvency administrators.. Improved insolvency regimes New mechanisms for debt restructuring and reorganization Reforms to individual bankruptcy laws in high income countries Increase timely repayments and reduce the cost of debt: India: Increase probability of timely repayments by 28% Brazil, India: Reduce cost of debt Brazil: Increase aggregate level of credit by 39% Reduce SME failure and reorganization duration: Belgium: Reduce failure rates of SMEs by 8.4% Colombia: Reduce duration of reorganizations from 12 to 34 months Increase household credit: US: Increase credit supply up to 5.3% per household Knowledge Gaps: Effect of legal reforms versus introduction of out of court mechanisms or strengthening capacity of insolvency administrators; impact of communication of reforms to banks and firms, impact of insolvency reforms on specific sectors (tourism, construction). 9
10 (3) Target Setting The objective is to develop methodologies that estimate the impact of investment climate projects to: Compare upfront the impact of different interventions. Better target and prioritize reforms, policy changes and resource allocation. Approach Project outcomes, reach and impact of our projects. We use trend lines based on past data or the findings of literature reviews to estimate future targets. Collect yearly data points to monitor project achievements. Conduct impact evaluations on few selected projects to verify targets. Our approach is aligned with IFC s Development Goals (IDGs). 10
11 (3) Examples of Targets for Investment Climate Impact projections for the new Investment Climate FY12-18 strategy include: Private sector savings of over $600 million, which include $350 million in compliance cost savings and $250 million of savings from streamlined trade logistics services. $3 billion in investment generation: $1 billion from FDI facilitation in priority sectors and $2 billion from new firms created from business entry reforms. Increase in trade flows by $2.5 billion following trade logistics reforms. Increased returns to stakeholders by $1.5 billion resulting from 11,000 firms continuing as going concern after debt resolution reforms. A 10 percent increase in the number of enterprises complying with tax requirement within three years of supported tax reforms. 11
12 (4) Ongoing Impact Evaluation: Out-of-court Workout Guidelines in Romania Reform In November 2010, Romania introduced new out-of-court corporate debt restructuring guidelines. Hypothesis Out-of-court debt restructuring increases: a) Loan repayment rates. b) New borrower requests. Methodology Encouragement design: borrowers do not know about the existence of out-of-court debt restructuring guidelines. Intervention: Trainings (e-learning course of the out-of-court guidelines) Sample:1,000 struggling SMEs that have defaulted on their loans, but have not yet been delinquent on repayment (over 60 days). a) Treatment group SMEs will receive trainings on the guidelines. b) The control group SMEs will not receive trainings. Compare the two groups and determine effects of trainings on borrowers behavior following the intervention. 12
13 (5) Value for money: Central America remittances database Results of Enviacentroamerica database Estimate: 1% decline in remittance costs amounts to approximately $600 million directly received by Central American remittance recipients and the local economy by Cost: $150K World Bank and $160K IADB; in kind support from CEMLA Value for money (donor perspective): $1,870 received by Central American remittance recipients and the local economy for each $1 spent by the Bank & the IADB. 1 Using the IFC Impact Development Goal methodology to calculate impact of remittances work - to be confirmed after we hear from Massimo and Marco 13
14 (6) Communications Impact framework Development community Promote knowledge spillovers for practitioners and researchers across WBG and Global Practices Government and PS counterparts World Bank Group Global Practices + DIME Build a community of practice for implementers in Government and private sector. The operations-learning feedback loop promotes a ripple effect beyond Bank operations. 14
15 (6) Investment Climate Impact Website 15
16 Objectives of the this week s Impact Evaluation Workshop SET THE STAGE for new impact evaluations. ADDRESS knowledge gaps TRAIN on evaluation methods DEVELOP implementation plans... BUILD a CIC impact evaluation community of practice Objectives To develop a high-quality impact evaluation design and implementation plan through clinics by bringing together a country/project delegation with impact evaluation experts To enhance the country/project delegation s technical capacity to design and implement impact evaluation of IC reforms through hands-on training on methods and policies To create an IC impact evaluation community of practice with donors, practitioners, country representatives, and WBG partners Participants Delegations of client representatives, experts and facilitators to agree on the IE building blocks and implementation plans Countries represented: Albania, Bangladesh, Benin, Bosnia and Herzegovina, Kenya, Kosovo, Malawi, Moldova, Nepal, Romania, Serbia, Tajikistan 16
17 Investment Climate Impact Program Marialisa Motta THANK YOU Paris, November 12, 2012
18 Back up slides 18
19 Investment Climate A Joint World Bank Group Space A unique WBG partnership: includes mandates of the World Bank (IBRD/IDA), MIGA and IFC Consolidated Investment Climate program Ultimate objective: better service and value to clients CIC / FIAS 19
20 (4) Ongoing Impact Evaluation: New Tax Code for SMEs in Georgia Reform In September 2010, Georgia introduced a new tax simplification regime for MSMEs, expected to significantly reduce compliance cost: SMEs with turnover below GEL 30,000 (approx. USD 18,000) are exempted from income taxation. SMEs with turnover below GEL 100,000 (approx. USD 61,000) are taxed based on turnover (3 or 5%). Hypothesis Tax reform increases tax compliance. Tax reform increases firm formalization. Methodology Only firms with turnover below GEL 100,000 (approx. USD 61,000) are eligible. Compare firms just below and above the cutoffs and observe the difference in outcomes (tax compliance and formalization) after the reform. The regression between declared turnovers in 2008 and 2010 should be smooth if no effect is achieved. Otherwise, any changes can be attributed to the reform. 20
21 Key Findings from the Literature: Trade Logistics Reduction of number of documents for import and export; introduction of risk-based inspection and introduction of an electronic filing systems; and unification of custom operations at the borders. Reducing time to export by 1 % Reducing time to export by 1 day 5% reduction in trade costs over 5 years Increases bilateral trade: Sub-Saharan Africa-OECD: By a range between 0.6% and 0.18% 1 Increases productivity: China: Generates a 2% increase in productivity for apparel and leather goods industry and more than a 6% increase for consumer goods 2 Equivalent to an ad-valorem tariff reduction of 0.6% to 2.3% 3 Increases GDP by 0.98% 4 Knowledge gaps: Effects on intra-regional trade, foreign direct investment and on corruption; effects of reducing number of documents versus introducing risk-based inspections or streamlining custom procedures; effects of single window solutions. Source: 1. Subramanian, Anderson and Lee (expect 2012); 2. Subramanian, et al (2005), 3. Hummels (2012), 4. APEC (2004) 21
22 Key Findings from the Literature: Alternative Dispute Resolution (ADR) Establishing a supportive legal framework for ADR, creating a pool of well trained mediators, raising awareness on the advantages of using ADR, creating financially sustainable centers. Alternative dispute resolution mechanisms.. Save cost and time: ADR takes between 1 to 11 months less than court litigation Evidence is mixed: some studies do not find significant reduction in case duration Between 3% to 50% of costs of litigation or between $500 to $6,000 per case Cases unsettled through ADR that return to courts can have higher total costs Knowledge gaps: Findings on time and cost savings vary and need more research. Effects on investment, employment, access to finance or growth. Effect of legal reforms, versus introduction of out of court mechanisms, effects on the effectiveness of courts and trust in the legal system (many cases often revert back to courts and end up more expensive) 22
23 Example of Impact Indicator: Cost Compliance Savings For investment climate reforms, we piloted the calculations of direct cost savings across the portfolio. The rollout of cost compliance savings (CCS) methodology for business regulations and taxation was conducted during fall 2010, with over 100 people trained through events in six country offices. Between FY10 H2 and FY12 H1, 24 projects used the CCS methodology, reporting almost $170 million worth of savings for the private sector. CCS Formula for business entry 23
24 Key Findings from the Literature: Competition Policy Applying pro-competition sectoral policies effective economy-wide, the enforcement of antitrust rules to deter anti-competitive practices such as cartel agreements, anti-competitive mergers, price controls, statutory monopolies and similar. Greater competition (lower price-cost margins, entry of new competitors) Liberalization of sectors (deregulation, removal of price controls and legal monopolies) Effective enforcement of competition laws Increases innovation, growth and competitiveness: More patents, product variety and quality Higher (L, TF) productivity growth Greater welfare benefits, esp. for poor Lower prices and boost productivity: Mexico: Lower costs/prices between 8% (transport) and 37% (airfares) Ukraine - India: Increased productivity by 3.6%- 87% (LP Indian retailers) Kenya: Increased output (98% maize in Kenya) Positively impact prices, GDP and other variables: Lower prices (10-45%) Productivity growth (1-30 percentage points) Consumer savings and GDP boost Knowledge Gaps: Effects of various competition policy reforms on country competitiveness and relative effects on market competition. 24
25 Next steps: FY12-15 Roadmap Programmatic approach Implement a group of impact assessments to make collective progress and share experiences Encourage use of mixed-methods to complement quantitative analysis Assess sustainability and inclusion dimensions of reforms Key elements Systematic identification and prioritization of knowledge gaps Regular engagement with key partners Dissemination of knowledge and incorporation of learning in future project design 25
26 Impact Assessments: Closing Gaps Between Policy and Evidence Literature reviews: tell us what we know about impact Summarize research findings on the impact of IC reforms on key economic variables (firm creation, exports, investment and employment ) Identify knowledge gaps Impact assessments: strategically address knowledge gaps Test the impact of new interventions, their combinations and sequencing Assess the sustainability of the impacts and identify sustainability mechanisms Practical Implications: Inputs for strategic and operational decisions on the IC portfolio Fine-tuning current IC reforms Prioritization of IC reforms in the next strategy cycle 26
27 Knowledge Gaps on other IC topics Inspections Effects of improved inspections system (integrating a risk matrix, ICT platform and simplified inspection procedures) on business entry, accidents and injuries, revenues and the behavior of inspectors and businesses. ICT Effects of ICT services on business entry, compliance costs savings, government cost savings, transparency and accountability. Agribusiness Effects of new food safety regulations (harmonized with EU regulations) on cost compliance savings, the quality of business inspection systems and coverage, domestic and export demand. Green Growth Effects of green building code reforms on emissions of greenhouse gases, effects of energy efficiency reforms on investment and consumption. Cross-cutting The relative effect of reforms on different industries (e.g., agribusiness, tourism) on firms of different sizes, on poverty reduction. Effects of combined reforms, sequencing of reforms. Are these effects sustained over time? Do reforms affect certain groups differently? 27
Introduction to IFC &
Introduction to IFC & Prospects for Cooperation Ashgabat, Turkmenistan August 6, 2012 IFC s Structure Owned by 183 member countries IFC is the main driver of private sector development in the World Bank
More informationWorld Developments in Insolvency Regulation
World Developments in Insolvency Regulation Kiev, Ukraine February 2012 Mahesh Uttamchandani Global Product Leader Debt Resolution & Business Exit World Bank IFC MIGA Outline 1. Problems and challenges
More informationMSME Tax Simplification Can it Tackle Informality?
MSME Tax Simplification Can it Tackle Informality? Rajul Awasthi Global Tax Simplification Team Investment Climate Department Bogota, Colombia Table of contents 1. Taxing MSMEs: Objectives and challenges
More informationPaying Taxes 2017 Global and Regional Findings: CENTRAL ASIA & EASTERN EUROPE
World Bank Group: Indira Chand Phone: +1 202 458 0434 E-mail: ichand@worldbank.org PwC: Rowena Mearley Tel: +1 646 313-0937 / + 1 347 501 0931 E-mail: rowena.j.mearley@us.pwc.com / rowena.mearley@uk.pwc.com
More informationPaying Taxes 2018 Global and Regional Findings: CENTRAL ASIA & EASTERN EUROPE
World Bank Group: Indira Chand Phone: +1 202 458 0434 E-mail: ichand@worldbank.org PwC: Rowena Mearley Tel: +1 646 313-0937 / + 1 347 501 0931 E-mail: rowena.j.mearley@pwc.com Fact sheet Paying Taxes 2018
More informationConstraints and Opportunities for Growth in the LDCs: Research to Support Action
Constraints and Opportunities for Growth in the LDCs: Research to Support Action John S. Wilson Development Economics Research Group Trade and International Integration World Bank April 19, 2012 1 Outline
More informationPartnering with IFC. Anita Bhatia and Urkaly Isaev October 2014 THE POWER OF PARTNERSHIPS
Partnering with IFC Anita Bhatia and Urkaly Isaev October 2014 THE POWER OF PARTNERSHIPS 1 World Bank Group 2 Twin Goals of the World Bank Group 3 4 The private sector in development 5 IFC s Three Businesses
More informationRegional Investment Reform Agenda for the Western Balkans Six
Regional Investment Reform Agenda for the Western Balkans Six 11 May 2018 Prepared with technical support of the CONTEXT AND RATIONALE Enabling regional economic integration in the Western Balkans The
More informationKey Activities of the WB/IFC Securities Markets Group. Global Capital Markets Development Department
Key Activities of the WB/IFC Securities Markets Group Global Capital Markets Development Department WB-IFC Securities Market Group (GCMSM) WBG Global Product Group for local securities market development
More informationWestern Balkans Regional Investment Policy and Promotion Implementing the Investment Policy Aspects of the SEE 2020 Strategy
Western Balkans Regional Investment Policy and Promotion Implementing the Investment Policy Aspects of the SEE 2020 Strategy 1 Key Project Data Objective: contribute to an increase in direct investment
More informationEUROPE AND CENTRAL ASIA Regional programs
EUROPE AND CENTRAL ASIA Regional programs Albania (FY99) TA. Conduct a Unit Cost Comparison Study, donor coordination, tax/customs, and needs assessment to strengthen Judicial Inspection Panel. (FY99)
More informationTaxing Micro and Small Businesses
Taxing Micro and Small Businesses From Informality to Voluntary Compliance? Jan Löprick Foreign Investment Advisory Service April 27th 2012 Table of contents 1. Taxing MSMEs: Objectives and challenges
More informationDoing Business 2012 Fact Sheet: Summary of Doing Business Reforms in Eastern Europe and Central Asia
Doing Business 2012 Fact Sheet: Summary of Doing Business Reforms in Eastern Europe and Central Asia Albania made property registration easier by setting time limits for the land registry to register a
More informationDistance to frontier
Doing Business 2013 Fact Sheet: Eastern Europe and Central Asia Eastern Europe and Central Asia leads the world in enhancing the business climate for local firms since 2005. The region overtook East Asia
More informationCreating Green Bond Markets Insights, Innovations,
Sustainable Banking Network (SBN) Creating Green Bond Markets Insights, Innovations, and Tools from Emerging Markets October 2018 Executive Summary Sustainable Banking Network Executive Summary The emergence
More informationAccess to Finance for Micro, Small, and Medium-Sized Enterprises in Azerbaijan. A Demand-Side Assessment
Access to Finance for Micro, Small, and Medium-Sized Enterprises in Azerbaijan A Demand-Side Assessment Angela Prigozhina Country Sector Coordinator May, 2015 Agenda Setting the Stage Main Findings of
More informationPolicy Framework for Investment
The Government of the Arab Republic of Egypt Ministry of Investment General Authority for Investment and Free Zones 6 th November 2006 OECD Global Forum on Investment II Istanbul, Turkey Table of Content
More informationCLIMATE INVESTMENT READINESS INDEX (CIRI) - A Tool to Assess Investment Climate for Climate Investments
CLIMATE INVESTMENT READINESS INDEX (CIRI) - A Tool to Assess Investment Climate for Climate Investments Background Mitigating climate-change while addressing development needs will involve massive scale-up
More informationINTERNATIONAL TAX COOPERATION ROLE OF THE WORLD BANK GROUP
INTERNATIONAL TAX COOPERATION ROLE OF THE WORLD BANK GROUP Marijn Verhoeven, Lead Economist, Governance Global Practice, World Bank Group World Bank Group January 2015 WBG s Interest in Domestic Revenue
More informationIFC Operational Highlights
IFC Operational Highlights Dollars in millions, for the years ended June 30 2017 2016 2015 2014 2013 Long-Term Investment Commitments FOR IFC S OWN ACCOUNT $11,854 $11,117 $10,539 $ 9,967 $11,008 Number
More informationTaking Stock: Coverage
1 Taking Stock: Coverage External Economic Environment Recent Economic Developments in Vietnam Special Topic 1: Trade Facilitation, Competitiveness, and Growth in Vietnam Special Topic 2: Corruption and
More informationIFC ANNUAL REPORT Table of Contents
Table of Contents RESULTS BY REGION... 2 East Asia and the Pacific... 3 Europe and Central Asia... 5 Latin America and the Caribbean... 7 Middle East and North Africa... 9 South Asia... 11 Sub-Saharan
More informationOur Expertise. IFC blends investment with advice and resource mobilization to help the private sector advance development.
Our Expertise IFC blends investment with advice and resource mobilization to help the private sector advance development. Where We Work As the largest global development institution focused on the private
More informationREPIM Curriculum Vitae Sharon Hanson-Cooper
RESEARCH ON ECONOMIC POLICY IMPLEMENTATION & MANAGEMENT FERNWOOD HOUSE, WEST WOODFOOT, SLALEY, HEXHAM, NE47 0DF, NORTHUMBERLAND, ENGLAND. TEL: 00 44 1434 673385 e mail: enquiries@repim.eu Name: SHARON
More informationMoving Towards a 2 0 World: The Role of Climate Funds
Moving Towards a 2 0 World: The Role of Climate Funds Presentation by Preety Bhandari Director, Climate Change and Disaster Risk Management At the 2018 Forum of the Standing Committee on Finance The Climate
More informationEaP SME Flagship Initiative
EaP SME Flagship Initiative SME Panel Vilnius, 26-27 November 2013 Gabriel Blanc, Programme Manager, Economic Development Regional Programmes Neighbourhood East A difficult business environment Transparency
More informationManagement s Discussion and Analysis and Condensed Consolidated Financial Statements March 31, 2018 (Unaudited)
Management s Discussion and Analysis and Condensed Consolidated Financial Statements March 31, 2018 (Unaudited) Page 2 Management s Discussion and Analysis March 31, 2018 CONTENTS Page I Introduction...
More informationMICROFINANCE IN LATIN AMERICA AND THE CARIBBEAN: PAST, PRESENT AND FUTURE
MICROFINANCE IN LATIN AMERICA AND THE CARIBBEAN: PAST, PRESENT AND FUTURE Nancy Lee General Manager MULTILATERAL INVESTMENT FUND Multilateral Investment Fund Member of the IDB Group Microfinance Trends
More informationINVESTMENT COMPACT FOR SOUTH EAST EUROPE DESIGNING MAKING INVESTMENT HAPPEN FOR EMPLOYMENT AND GROWTH IN SOUTH EAST EUROPE
INVESTMENT COMPACT FOR SOUTH EAST EUROPE DESIGNING THEFUTURE MAKING INVESTMENT HAPPEN FOR EMPLOYMENT AND GROWTH IN SOUTH EAST EUROPE Thanks to the commitment and hard work of all its participants, the
More informationMULTILATERAL INVESTMENT GUARANTEE AGENCY WORLD BANK GROUP. Political Risk Considerations and Risk Mitigation
I N S U R I N G I N V E S T M E N T S E N S U R I N G O P P O R T U N I T I E S Political Risk Considerations and Risk Mitigation May 12, 2005 George Washington University Who is MIGA? MIGA s guarantees
More informationEase of Doing Business Ministry of Economy and Sustainable Development of Georgia 2018
Ministry of Economy and Sustainable Development of Georgia 2018 GEORGIA S RANKING 2018 Georgia s Ranking In 2012 2018 In 2018 - th place amongst 10 countries Overall distance to frontier (DTF) 82.04 score
More informationHeadquarter-led Technical Assistance Missions of the Fiscal Affairs Department (January-April 2011)
Headquarter-led Technical Assistance Missions of the Fiscal Affairs Department (January-April 2011) Country Albania Take stock of progress in key areas of tax administration and provide guidance on the
More informationReforming Business Taxes
THE WORLD BANK GROUP FINANCIAL AND PRIVATE SECTOR DEVELOPMENT VICE PRESIDENCY DECEMBER 2011 NOTE NUMBER 330 Miriam Bruhn Miriam Bruhn (mbruhn@ worldbank.org) is an economist in the World Bank s Development
More informationMaking Sustainability Count: From the WAVES Partnership to a Global Program on Sustainability
Making Sustainability Count: From the WAVES Partnership to a Global Program on Sustainability Raffaello Cervigni November 22, 2017 Wealth Accounting and the Valuation of Ecosystem Services www.wavespartnership.org
More informationGlobal Action Menu for Investment Facilitation
Global Action Menu for Investment Facilitation Version 4 16 September 2016 Note to Version 4 This version of the Action Menu incorporates feedback from multi-stakeholder consultations and intergovernmental
More informationDOING BUSINESS 2015 GOING BEYOND EFFICIENCY. Augusto Lopez Claros, Director, Global Indicators Group. Global Indicators Group DEVELOPMENT ECONOMICS
DOING BUSINESS 2015 GOING BEYOND EFFICIENCY Global Indicators Group DEVELOPMENT ECONOMICS Augusto Lopez Claros, Director, Global Indicators Group WTO, Geneva November 5, 2014 What does Doing Business measure?
More informationBest practice insolvency and creditor rights systems: key for financial stability
Best practice insolvency and creditor rights systems: key for financial stability Prepared by F. Montes-Negret 1 When the World Bank in 2001 approved Insolvency and Creditors Rights (ICRs) Principles,
More informationCost-Benefit Analysis of Tax Reform in the Democratic Republic of the Congo
Cost-Benefit Analysis of Tax Reform in the Democratic Republic of the Congo International Consortium on Governmental Financial Management 31st Annual International Training Conference Miami, Fl USA May
More informationGLOBAL ACTION MENU FOR
GLOBAL ACTION MENU FOR INVESTMENT FACILITATION SEPTEMBER 2016 INVESTMENT AND ENTERPRISE DIVISION unctad.org/diae unctad.org/iia investmentpolicyhub.unctad.org unctad-worldinvestmentforum.org Note to the
More informationManagement s Discussion and Analysis and Condensed Consolidated Financial Statements December 31, 2017 (Unaudited)
Management s Discussion and Analysis and Condensed Consolidated Financial Statements December 31, 2017 (Unaudited) Page 2 Management s Discussion and Analysis December 31, 2017 CONTENTS Page I Introduction...
More informationOur Expertise. IFC blends investment with advice and resource mobilization to help the private sector advance development.
Our Expertise IFC blends investment with advice and resource mobilization to help the private sector advance development. 76 IFC ANNUAL REPORT 2016 Where We Work As the largest global development institution
More informationIFC Trust Funds Trust Fund Annual Report. Overall Trends. its standard-setting, and its work to promote a business-enabling environment.
4 IFC Trust Funds Overall Trends The resources needed to alleviate poverty and advance development are too vast for governments to provide on their own, so a major part of the domestic and international
More informationUkraine. Systematic Country Diagnostic
For Discussion Only Ukraine Systematic Country Diagnostic Discussion October 2016 1 2 OUTLINE OUTLINE 1. New WBG Country Engagement Approach: What is an SCD? 2. Growth and Sustainability in Ukraine 3.
More informationHigh-level Meeting on Policy Measures and Instruments to improve the Investment Climate in the DP Countries. - Introductory Presentation -
High-level Meeting on Policy Measures and Instruments to improve the Investment Climate in the DP Countries - Introductory Presentation - Cairo, Egypt 8 May 2012 Foreign direct investment, net inflows
More informationInclusive Growth Analytics and the Diagnostic Facility for Shared Growth
Inclusive Growth Analytics and the Diagnostic Facility for Shared Growth Gallina A. Vincelette Sr. Economist, Economic Policy and Debt Department The World Bank January 18, Brussels Outline I. Inclusive
More informationTHE NEED TO ADDRESS FINANCIAL MARKETS DEVELOPMENT IN THE REGION
SOUTH CAUCASUS AND UKRAINE INITIATIVE THE NEED TO ADDRESS FINANCIAL MARKETS DEVELOPMENT IN THE REGION Working Group on Financial Markets Development and Impact of Central Banks 17 November 2009 Warsaw,
More informationThe Sustainable Development Commitments Mobilizing Resources for Implementing the SDGs Anne Bakilana Program Leader World Bank Group
The Sustainable Development Commitments Mobilizing Resources for Implementing the SDGs Anne Bakilana Program Leader World Bank Group @wbg2030 worldbank.org/sdgs Symposium on Governance for Implementing
More informationShifting Wealth and What It Means for Development Policy
Multi-year Expert Meeting on International Cooperation: South South Cooperation and Regional Integration 23 25 February 2011 Shifting Wealth and What It Means for Development Policy by Mr. Andrew Mold
More informationCOMPACT MONITORING REPORT TO G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS APRIL
COMPACT MONITORING REPORT TO G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS APRIL 2018 1 CONTENTS Overall Assessment of Progress by the World Bank Group... 3 Joint Report of the International Organizations...
More informationImproving public investment efficiency for infrastructure development
National Workshop on Infrastructure Financing Strategies for Sustainable Development in Viet Nam Hanoi, 3 October 2017 Improving public investment efficiency for infrastructure development Mr Mathieu Verougstraete
More informationThe World Bank. Asia (ECA) Economic Update. Annual Meetings Istanbul October 3, 2009
The World Bank Europe and Central Asia (ECA) Economic Update Annual Meetings Istanbul October 3, 2009 More than $350 billion of ECA s foreign debt matures in 2010 Source: World Bank, DEC Prospects Group
More informationIFC STRATEGY AND CAPITAL INCREASE. June 26, 2018
IFC STRATEGY AND CAPITAL INCREASE June 26, 2018 Global Context: Meeting Development Goals Requires Increased Financing and Managing Global Risks in a Changing Landscape More than 3 million new jobs are
More informationSECURED TRANSACTIONS & COLLATERAL REGISTRY REFORMS RECENT DEVELOPMENTS IN AFRICA, MIDDLE EAST, EASTERN EUROPE, CENTRAL & SOUTH ASIA
SECURED TRANSACTIONS & COLLATERAL REGISTRY REFORMS RECENT DEVELOPMENTS IN AFRICA, MIDDLE EAST, EASTERN EUROPE, CENTRAL & SOUTH ASIA Murat Sultanov Secured Transactions Specialist February 09, 2017 Secured
More informationReport to G20 Compact with Africa Compact Narrative Ethiopia Goal: Improve framework conditions for private investment (domestic and foreign)
Report to G20 Compact with Africa Compact Narrative Goal: Improve framework conditions for private investment (domestic and foreign) has experienced a rapid and sustained economic growth over the past
More informationImproving the Business Environment in Lebanon
Republic of Lebanon Improving the Business Environment in Lebanon Recommendations Improving the Business Environment in Lebanon Lebanon experiencing impressive growth rates for the last three years Private
More informationNote on Revisions. Investing Across Borders 2010 Report
Note on Revisions Last revision: August 30, 2011 Investing Across Borders 2010 Report This note documents all data and revisions to the Investing Across Borders (IAB) 2010 report since its release on July
More informationDISCOVER YOUR WAY TO AZERBAIJAN
DISCOVER YOUR WAY TO AZERBAIJAN VALUE PROPOSITION PROVEN TRACK RECORD AND STABILITY STRATEGIC LOCATION FAVOURABLE BUSINESS CLIMATE QUALIFIED WORK FORCE VALUE PROPOSITION PROVEN TRACK RECORD AND STABILITY
More informationIN PRACTICE. Introducing the Value-Added Tax. investment climate. Considerations for implementation
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized no. 4 Public Disclosure April 2009 Authorized investment climate IN PRACTICE BUSINESS TAXATION Introducing the Value-Added
More informationMay 8, 2006 INTRODUCTION
THE INDEPENDENT EVALUATION OFFICE OF THE INTERNATIONAL MONETARY FUND POSSIBLE TOPICS FOR EVALUATION OVER THE MEDIUM TERM May 8, 2006 INTRODUCTION This note identifies possible topics for evaluation by
More informationClimate Change Finance Mainstreaming: A Snapshot
Climate Change Finance Mainstreaming: A Snapshot The Budget Cycle: Three basic Phases Oversight Preparation Implementation 2 Key Concepts Government/ CC Mitigation and Adaptation Policies Public Financial
More informationMETRICS FOR IMPLEMENTING COUNTRY OWNERSHIP
METRICS FOR IMPLEMENTING COUNTRY OWNERSHIP The 2014 policy paper of the Modernizing Foreign Assistance Network (MFAN), The Way Forward, outlines two powerful and mutually reinforcing pillars of aid reform
More informationCONCLUSIONS. The event was opened by the two co-chairs of the Working Group, Japan and Jordan, and the Head of the MENA-OECD Investment Programme.
Annual Meeting of the Working Group on Investment Policies and Promotion: Supporting investment policy reforms in the MENA region 11 December 2014 - Cairo, Egypt CONCLUSIONS At the MENA-OECD Working Group
More informationInstitutional reforms on improvement of investment and business climate
Institutional reforms on improvement of investment and business climate Chair of State Committee for Investment and State Property Management Qodir Qosim LOGO Developments goals Ensuring attractiveness
More informationG20 Emerging Economies St. Petersburg Structural Reform Commitments: An Assessment
G20 Emerging Economies St. Petersburg Structural Reform Commitments: An Assessment September 2013 lights This assessment covers the new structural reform commitments made by the emerging economy members
More informationManagement s Discussion and Analysis and Condensed Consolidated Financial Statements September 30, 2017 (Unaudited)
Management s Discussion and Analysis and Condensed Consolidated Financial Statements September 30, 2017 (Unaudited) Page 2 Management s Discussion and Analysis September 30, 2017 CONTENTS Page I Introduction...
More informationTHE IMF: INSTRUMENTS AND STRATEGIES. Lecture 5 LIUC 2009 ORIGINS OF THE IMF
THE IMF: INSTRUMENTS AND STRATEGIES Lecture 5 LIUC 2009 1 WHAT IS THE INTERNATIONAL MONETARY FUND? The IMF is an international cooperative financial institution. Each member deposits a sum of money into
More informationUkraine: Economic and Business Situation Dr. Edilberto Segura SigmaBleyzer/The Bleyzer Foundation July 2018
Ukraine: Economic and Business Situation Dr. Edilberto Segura SigmaBleyzer/The Bleyzer Foundation July 2018 1 Main Macroeconomic Indicators Main Macroeconomic Indicators 2011 2012 2013 2014 2015 2016 2017
More information2018 ECOSOC Forum on FfD Zero Draft
23 March 2018 2018 ECOSOC Forum on FfD Zero Draft 1. We, ministers and high-level representatives, having met in New York at UN Headquarters from 23 to 26 April 2018 at the third ECOSOC Forum on Financing
More informationAustrian Climate Change Workshop Summary Report The Way forward on Climate and Sustainable Finance
Austrian Climate Change Workshop 2018 - Summary Report The Way forward on Climate and Sustainable Finance In close cooperation with the Austrian Federal Ministry of Sustainability and Tourism, Kommunalkredit
More informationCharting the Diffusion of Power Sector Reform in the Developing World Vivien Foster, Samantha Witte, Sudeshna Gosh Banerjee, Alejandro Moreno
Charting the Diffusion of Power Sector Reform in the Developing World Vivien Foster, Samantha Witte, Sudeshna Gosh Banerjee, Alejandro Moreno Green Growth Knowledge Platform Annual Conference 2017 November
More informationThe Rule of Law as a Factor for Competitiveness
The Rule of Law as a Factor for Competitiveness Lessons from the Global Competitiveness Index 2008-2009 Irene Mia Director, Senior Economist Global Competitiveness Network, World Economic Forum OECD Workshop
More informationDesigning public sector interventions to mobilize climate compatible investment UNFCCC Regional Workshop Mexico
Designing public sector interventions to mobilize climate compatible investment UNFCCC Regional Workshop Mexico Shelagh Whitley Research Fellow 11 December 2013 ODI research on climate finance Private
More informationBUILDING THE FUTURE A LOOK AT THE ECONOMIC POTENTIAL OF EAST AFRICA
BUILDING THE FUTURE A LOOK AT THE ECONOMIC POTENTIAL OF EAST AFRICA REPORT HIGHLIGHTS: BUILDING THE FUTURE A LOOK AT THE ECONOMIC POTENTIAL OF EAST AFRICA Building the Future: A Look at the Economic Potential
More informationSession 1: SME financing in Asia and the Pacific and Latin America An overview. SME financing in Asia and the Pacific An introduction to the workshop
Session 1: SME financing in Asia and the Pacific and Latin America An overview SME financing in Asia and the Pacific An introduction to the workshop A presentation by Alberto Isgut, Financing for Development
More informationCapacity Building in Public Financial Management- Key Issues
Capacity Building in Public Financial Management- Key Issues Parminder Brar Financial Management Anchor The World Bank May 2, 2005 Overview 1. Definitions 2. Track record 3. Why is PFM capacity building
More informationSweden Country Profile
Sweden Country Profile EU Tax Centre June 2017 Key tax factors for efficient cross-border business and investment involving Sweden EU Member State Double Tax Treaties With: Albania Armenia Argentina Azerbaijan
More informationDIGITAL FINANCIAL INCLUSION OVERVIEW OF POLICY ISSUES
DIGITAL FINANCIAL INCLUSION OVERVIEW OF POLICY ISSUES Margaret Miller Global Lead Responsible Financial Access May 19, 2017 unserved Broader Inclusion Customer-centered product innovation Financial capability
More informationCommittee for Development Policy Expert Group Meeting Review of the list of Least Developed Countries
Committee for Development Policy Expert Group Meeting Review of the list of Least Developed Countries Monitoring the progress of graduated countries Cape Verde (Background note by the Secretariat) New
More informationSecured Transactions World Bank/IFC Finance and Markets Global Practice Tailored Solutions and Instruments
Secured Transactions World Bank/IFC Finance and Markets Global Practice Tailored Solutions and Instruments Alejandro Alvarez de la Campa February 2017 The World Bank Group IBRD International Bank for Reconstruction
More informationLeana Ugrinovska Cabinet of the Deputy Prime Minister for Economic Affairs The Government of Republic of Macedonia
Leana Ugrinovska Cabinet of the Deputy Prime Minister for Economic Affairs The Government of Republic of Macedonia Vienna, Austria 29.04.2014 WORLD BANK PROJECT FOR MONITORING AND EVALUATION Monitoring
More informationGovernor's Statement No. 22 October 12, Statement by the Hon. SUBHASH CHANDRA GARG, Governor of the Fund and the Bank for INDIA
Governor's Statement No. 22 October 12, 2018 Statement by the Hon. SUBHASH CHANDRA GARG, Governor of the Fund and the Bank for INDIA Statement by the Hon. Subhash Chandra Garg, Governor of the Fund and
More informationCorporate Governance Department World Bank Group
Corporate Governance Department World Bank Group Global Good Practices in Corporate Governance Alex Berg Corporate Governance Department The World Bank December 19, 2006 Outline Presentation Outline What
More informationOverview of the Gemloc Initiative Gemloc Roundtable Conference and Workshop
Overview of the Gemloc Initiative Gemloc Roundtable Conference and Workshop Capital Markets Advisory Group Alison Harwood Anderson Silva May 29, 2008 Agenda Introduction to the Gemloc Initiative GEMX Index
More informationIntroduction CHAPTER 1
CHAPTER 1 Introduction The onset of the financial crisis was evident as early as mid-2007 when the real estate bubble began to deflate throughout the United States and parts of Western Europe, triggering
More informationThe regional analyses
The regional analyses Central Asia & Eastern Europe Central Asia & Eastern Europe has been the biggest reformer over the nine years of the study. Economies in this region have shown the largest fall in
More informationISA 2. A Programme for Interoperability Solutions for European public Administrations, businesses and citizens
ISA 2 A Programme for Interoperability Solutions for European public Administrations, businesses and citizens "Modernising European public administration through interoperability" Political Context Contributes
More informationDoing Business with Egypt Thessaloniki, 16 October 2014
Egypt, Investment for Development Doing Business with Egypt Thessaloniki, 16 October 2014 1 Indicators Monthly Inflation Rate 10.07 % at the end of August 2014 Net International Reserves 16.87 (USD billion)
More informationAnnex A. Country Partnership Framework Template. Document of The World Bank Group FOR OFFICIAL USE ONLY
Annex A. Country Partnership Framework Template Document of The World Bank Group FOR OFFICIAL USE ONLY INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT [AND/OR INTERNATIONAL DEVELOPMENT ASSOCIATION]
More informationOECD Trade Facilitation Indicators: A Guide to Implementation and Future Action
OECD Trade Facilitation Indicators: A Guide to Implementation and Future Action Future Research Agenda for Trade Facilitation and Inclusive Growth Beijing, 12 September 2013 OECD TFIs What is the Impact
More informationTHE NEW GENERATION OF BUSINESS LAWS
Business Law Newsletter May 2017 THE NEW GENERATION OF BUSINESS LAWS TUNISIA, 2017 CONTENT Investment Law....... 2 Tax Incentives Law... 4 Tunisia has undertaken major legal reforms during 2016 and 2017
More informationCase Studies from WTO Chair Holders
WTO Public Forum, WTO Chairs Programme Session: Case Studies from WTO Chair Holders "Impact of Regional Integration on Inclusive Trade Liberalisation, Competitiveness and Welfare: The Case of Turkey-EU
More informationIndependent Evaluation Group-MIGA 2007 Annual Report
INDEPENDENT EVALUATION GROUP Independent Evaluation Group-MIGA 2007 Annual Report June 13, 2007 Document of the Independent Evaluation Group (MIGA) (IEG-MIGA) Abbreviations and Acronyms AR Annual report
More informationSummary of 2013/14 Doing Business Reforms in Latin America and the Caribbean 2
Doing Business 2015 Fact Sheet: Latin America and the Caribbean Sixteen of 32 economies in Latin America and the Caribbean implemented at least one regulatory reform making it easier to do business in
More informationMaking Countries Competitive Beyond the roads and bridges
The Role of the Private Sector, Soft Infrastructure and Making Countries Competitive Beyond the roads and bridges Ms Patricia Francis Executive Director 2010 ECOWAS Aid for Trade Meeting World Bank s Prospects
More informationPaying Taxes 2019 Global and Regional Findings: AFRICA
World Bank Group: Indira Chand Phone: +1 202 458 0434 E-mail: ichand@worldbank.org PwC: Sharon O Connor Tel:+1 646 471 2326 E-mail: sharon.m.oconnor@pwc.com Fact sheet Paying Taxes 2019 Global and Regional
More informationLaunch of the 2019 Financing for Sustainable Development Report
Launch of the 2019 Development Report Tientip Subhanij T Foreign Correspondents Club Bangkok, Thailand 10 April 2019 Inter agency Task Force on Financing for Development Selected Messages from the 2019
More informationPublic financial management is an essential part of the development process.
IDA at Work Public Financial Management: Tracking Resources for Better Results Public financial management is an essential part of the development process. It supports the efficient and accountable use
More informationLegal and Regulatory Framework to support Financial Inclusion and Infrastructure
2013/SFOM11/WKSP/010 Session 3 Legal and Regulatory Framework to support Financial Inclusion and Infrastructure Submitted by: World Bank Workshop on Financial Inclusion Manado, Indonesia 23-24 May 2013
More informationFROM BILLIONS TO TRILLIONS:
98023 FROM BILLIONS TO TRILLIONS: MDB Contributions to Financing for Development In 2015, the international community is due to agree on a new set of comprehensive and universal sustainable development
More informationSEPTEMBER 2017 Global Opportunity Index: Global Investors Growing Focus on Asia
SEPTEMBER 2017 Global Opportunity Index: Global Investors Growing Focus on Asia Jakob Wilhelmus EXECUTIVE SUMMARY As part of the Milken Institute s mission to improve access to capital, the Global Opportunity
More information