The PROBLUE Umbrella 2.0 program, a key part of the World Bank’s Blue Economy program, provides the World Bank with a vehicle to provide catalytic funding to formulate and scale up solutions to these pressing challenges for our client countries.
... See More + Development partners support, PROBLUE builds on the World Bank’s comparative advantage to coordinate regional and global action, within and outside of the institution, across four pillars: (1) Improved Fisheries Governance; (2) Marine Litter and Pollution Management; (3) Blueing Oceanic Sectors; and (4) Integrated Seascapes. In its brief existence, PROBLUE has played a key role in promoting the blue business line and mainstreaming blue economy thinking in the World Bank and beyond. The blue economy has the attention of senior leadership, who have launched high-level initiatives such as the World Bank Group Marine Litter Working Group, and the International Development Association (IDA) Marine Litter Initiative. The World Bank’s Blue portfolio has now grown to over US 5 billion dollars in ocean-related investments, with over 1 billion US Dollars in the pipeline. The World Bank has over 30 analytical activities under way and has partnered with more than 60 countries around the world to build sustainable ocean economies for the benefit of those who depend upon them. As PROBLUE moves into fiscal 2020, it will seek to influence, either directly through programming or indirectly through global partnerships, how stakeholders perceive and manage ocean resources. PROBLUE will continue its partnership with World Bank teams, client countries, and other organizations to identify and support activities with a transformational impact on oceans.
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Oceans are an important source of wealth, at least 3 to 5 percent of global GDP is derived from the oceans, but their overall health is reaching a tipping point.
... See More + Close to a third of fish stocks are fully fished or overfished, climate change is impacting coastal and marine ecosystems through a variety of vectors, unbridled development in the coastal zone is causing erosion, widespread desalination in semi enclosed seas is threatening fauna and flora alike, and marine pollution, particularly from land-based sources is reaching such a proportion that its impacts cannot even be accurately measured. The role of healthy oceans in stabilizing climate and keeping the planet cool is now better understood, and increasingly given the prominence and visibility it deserves in the global action arena. It is also known that business as usual in the different economic sectors associated with coastal and marine ecosystems will have great environmental and social impacts, which are expected to disproportionally affect vulnerable groups of the population, particularly women and girls. This is reflected in Sustainable Development Goal (SDG) 14 - Life Below Water, which calls to conserve and sustainably use the oceans, seas, and marine resources for sustainable development. In this context, the concept of the Blue Economy is particularly relevant and applicable to STP. Different institutions have different definitions of the Blue Economy, which is understood by the Bank as the sustainable and integrated development of oceanic sectors in healthy oceans. There is growing recognition that overfishing, marine pollution, and coastal erosion, among other issues, are pushing oceans to a tipping point to the detriment of the millions who depend on healthy oceans for jobs, nutrition, economic growth, and climate regulation. Central to the Blue Economy approach is the recognition that social benefits should be maximized over the long-term, ensuring that the economic drivers that result from the sustainable use of ocean resources are maintained.
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Report 139096 JUN 26, 2019
Devine,Peter Augustus; Desramaut,Nicolas Benjamin Claude; Fountalbert, Charlotte deDisclosed
In 2018, Indonesia’s coordinated and prudent macroeconomic policy framework underpinned steadyeconomic growth, amid global volatility and several natural disasters.
... See More + Real GDP growth strengthened to 5.2 percent yoy in 2018 from 5.1 percent in 2017. Growth decelerated only slightly in Q1 2019, to 5.1 percent yoy. Quarterly GDP growth has been broadly stable, remaining within a narrow range of 4.9-5.3 percent yoy for 14 consecutive quarters. The drivers of growth shifted in Q4 2018 and Q1 2019, as investment growth decelerated from multi-year highs, and both private and government consumption picked up. Investment slowed because of inventory destocking and easing fixed investment growth due to delays in new public projects in response to current account concerns, political uncertainty ahead of the general elections, and deteriorating prices of thecountry’s key commodity exports and a maturing investment cycle in the mining sector. On the other hand, growth of private and government consumption gained on stronger spending by political parties and civil servant bonuses. Private consumption was also supported by low inflation and abuoyant labor market. Indonesia’s oceans can be leveraged to make a larger contribution to the economy, both through higher revenues from tourism and fisheries and by enhancing resilience to natural disasters and climate change. This edition therefore discusses the importance of the maritime economy to Indonesia’s economic development and presents the challenges and opportunities the country faces in leveraging the maritime economy for greater prosperity.
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