Remittances are an important source of income for households in the Southern African Development Community (SADC), as well as a crucial source of foreign exchange for countries in the region.
... See More + Despite the relatively large inflows of remittances to SADC, the cost of sending money to and within the region is significantly higher than other regions in the world. To address the high cost of remittances globally, the World Bank has been involved in a number of initiatives aimed at improving the efficiency and safety of the market for remittances. At the regional level, the SADC Committee of Central Bank Governors (CCBG) has led several initiatives aimed at enhancing the regional payment system infrastructure, also with a focus on reducing the cost of remittances within the region.
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Uruguay has much to gain from further integration with the global marketplace. Increased trade allows economies of scale and increases exposure to technological and knowledge spillovers, resulting in greater productivity.
... See More + Participating in global and regional value chains is an important launch-pad for international integration. Uruguay requires a multipronged strategy that targets increased sophistication of Uruguay’s productive structure and diversification into specialized, high-value, modern services exports unconstrained by lack of economies of scale or distance. This report analyzes the dairy and Information & Communications Technology (ICT) and ICT Enabled Services (ICTES) value chains in Uruguay to identify opportunities for industry-specificupgrading and integration with global value chains (GVCs). By taking the dairy and ICT/ICTES value chains as concrete cases, the analysis piloted here illustrates how a traditional industry, locked in low value added exports, such as dairy, and a new export service industry, such as ICT/ICTES, can tackle the remoteness and ‘smallness’ challenges of Uruguay, and pursue economic upgrading andbetter international integration. The analytical approach targets opportunities to both enter new international production networks and participate in higher-value-added business segments. These objectives align with the Government of Uruguay’s priority to determine how the country can integrate better with global markets through GVCs. GVCs have four key features that set them apart from traditional production and trade: (1) customization of production—with intensive contracting between parties, often subject to distinct legal systems, (2) sequential production decisions going from the buyer to the suppliers, (3) high contracting costs, and (4) global matching not onlyof goods and services, but also of production teams. These distinct features of GVCs have implications for the overall business environment conducive to fertile grounds for GVCs to prosper, as well as for the types of trade facilitation efforts, infrastructure, skills, and trade and investment policies that are best suited for this reality.
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Uruguay has much to gain from further integration with the global marketplace. Increased trade allows economies of scale and increases exposure to technological and knowledge spillovers, resulting in greater productivity.
... See More + Participating in global and regional value chains is an important launch-pad for international integration. Uruguay requires a multipronged strategy that targets increased sophistication of Uruguay’s productive structure and diversification into specialized, high-value, modern services exports unconstrained by lack of economies of scale or distance. This report analyzes the dairy and Information & Communications Technology (ICT) and ICT Enabled Services (ICTES) value chains in Uruguay to identify opportunities for industry-specificupgrading and integration with global value chains (GVCs). By taking the dairy and ICT/ICTES value chains as concrete cases, the analysis piloted here illustrates how a traditional industry, locked in low value added exports, such as dairy, and a new export service industry, such as ICT/ICTES, can tackle the remoteness and ‘smallness’ challenges of Uruguay, and pursue economic upgrading andbetter international integration. The analytical approach targets opportunities to both enter new international production networks and participate in higher-value-added business segments. These objectives align with the Government of Uruguay’s priority to determine how the country can integrate better with global markets through GVCs. GVCs have four key features that set them apart from traditional production and trade: (1) customization of production—with intensive contracting between parties, often subject to distinct legal systems, (2) sequential production decisions going from the buyer to the suppliers, (3) high contracting costs, and (4) global matching not onlyof goods and services, but also of production teams. These distinct features of GVCs have implications for the overall business environment conducive to fertile grounds for GVCs to prosper, as well as for the types of trade facilitation efforts, infrastructure, skills, and trade and investment policies that are best suited for this reality.
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The objective of Financial Sector Development Project for Ghana is to promote financial sector soundness and access to financial services by individuals.
... See More + The project has four components. (1) Improving financial sector regulatory oversight and market transparency and discipline component will support Bank of Ghana and the Ministry of Finance to improve the oversight of Specialized Deposit‐taking Institutions (SDIs) and promote market transparency and discipline. (2) Increasing the outreach of Rural and Community Banks (RCBs) and Microfinance Institutions (MFIs) and linking Village Savings and Loans Associations (VSLAs) to the formal financial sector component will modernize the Management Information Systems (MIS) used by RCBs and MFIs to manage their business operations and to report to regulators; upgrade the e‐banking platform of the Association of Rural Banks (ARB) Apex Bank and developing and rolling out a shared network of bank agents to expand the existing branch network of RCBs; and build the capacity of select VSLAs in support of their outreach and integration into the broader financial sector. (3) Bolstering financial capability and consumer protection component will boost financial capability and consumer protection and contribute to both financial stability and inclusion. (4) Enhancing the capacity for the implementation and monitoring of financial sector policies and supporting project implementation component will support overall project implementation.
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Somalia’s economy grew by 2.3 percent in 2017. The economy remains vulnerable to recurrent shocks. Between 2013 and 2017, real annual GDP growth averaged 2.5 percent.
... See More + Growth occurred despite adverse weather conditions that severely reduced agricultural output in late 2016 and early 2017. For Somalia to enhance and sustain economic growth and escape chronic poverty, it must increase its resilience to shocks. Growth recovery is set to continue beyond 2018, lifted by gains from ongoing reforms as well as improved security. Rising domestic demand, remittances, and donor inflows and consolidation of peace and security are expected to drive growth in 2019–20. Achieving higher growth will require acceleration of structural reforms, particularly in three areas: fiscal policy and public financial management, provision of basic services (to promote human development and inclusion), and improved resilience to weather shocks particularly in the agriculture sector. Mobile money is an essential part of Somalia’s economic ecosystem. Almost three-quarters of the population aged 16 and above use mobile money on a regular basis. It is now the main transaction instrument used by both individuals and businesses across the country: presenting an opportunity to increase access to finance, spur inclusive growth, and promote resilient communities. However, with increasing dependence on mobile money as a medium of exchange comes increased vulnerabilities.
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Working Paper (Numbered Series) 129780 AUG 01, 2018
This note summarizes the work carried out under the Rapid social response (RSR) trust fund which is linked to the Bank activity for Somalia social protection.
... See More + This activity builds on the existing work of development partners and humanitarian organizations in Somalia and tries to inform the development of a social protection policy and framework through analysis and by identifying gaps and entry points. Given Somalia’s unique context, in which the government is in the initial stages of setting up an institutional and regulatory framework and where conflict and climate are constantly affecting socioeconomic dynamics, there was a need to analyze and curate practices that work best and build a common consensus on effective approaches. For this purpose, the work undertaken by the RSR funded activities had a specific focus on targeting and delivery mechanisms adopted by the cash transfer and other safety net schemes including remittances.
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It has been the Israeli government’s explicit goal to position Israel at the core of the knowledge economy. The purpose of this report is to describe the environment for internet entrepreneurship in Israel and analyze how government policies have contributed to the development of a vibrant ecosystem that spurred a high rate of technological innovation and entrepreneurship.
... See More + The objective is to draw conclusions from Israel’s growth experience that can inform developing countries. Chapter 1 starts with the background and sources for the development of the ICT Sector in Israel. As the authors show in chapter 2 and throughout the report, there is broad agreement as to the significant role played by the government in the emergence and development of Israel's vibrant and dynamic high-tech sector, of which the ICT industry is an important part. In chapter 3 the authors do the analysis of the ICT Ecosystem for Entrepreneurship in Israel. In chapter 4 the authors describe in several case studies how start-ups have developed within the ICT ecosystem. Chapter 5 compares Israel with Singapore. The closing chapter deals with lessons that emerging markets and developing countries could employ to develop their own ICT sectors.
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The Afghanistan Pension Administration and Safety project for Afghanistan had a moderately satisfactory outcome, a moderately satisfactory performance by the Bank and the monitoring and evaluation was substantial.
... See More + The lessons learned were: (1) The Government ownership is critical for the success of a project. The implementation of the survivors of martyrs and disabled pension component suffered because of the limited involvement and leadership of the Government in the implementation of the activities to improve the Martyrs and Disabled Pension Program. (2) The participation of women was low in most of the project activities. There is a need to address the bottlenecks that cause low participation of women in various project activities. (3) Third-party implementation arrangement for the safety net component was successful and had bridged the implementation capacity gap that exists at the district and central level of government structures.
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Implementation Completion and Results Report ICR4385 JUN 24, 2018
This concept note describes a financial education radio program that was designed by the World Bank under the Supporting National Payment Systems in Ebola Affected Countries (SNPS) project and aired in Guinea.
... See More + Financial education delivery over radio was selected as it provides the greatest outreach and potential for sustainability. In addition, the Central Bank of Guinea (BCRG) recently developed regulations on mobile money and expressed enthusiastic support for a financial education campaign that would also increase consumer understanding and trust of mobile money services, and interest in using them. The financial education radio program was delivered in 24 segments, including 6 on mobile money. It was designed in collaboration with Social Safety Net (SSN) cash-for-work project in Guinea that targeted 25,000 youth and vulnerable women and focused on providing them with temporary work in sanitation activities. The radio program has been localized and contextualized for Guinea based on a study of the focus group selected from the unbanked and underbanked persons among the SSN project beneficiaries. This concept note contains the profile of the targeted population, key parameters of the program, and details the design concept of the entire program and each segment in particular. Full scripts of the audio segments (sketches) are provided in Volume 2 (French version only).
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This report is based on a study of the costs and savings of retail payments in Albania using a methodology (A Practical Guide for Measuring Retail Payment Costs) developed by the World Bank’s Payment Systems Development Group, part of the Financial Inclusion, Infrastructure, and Access at the Finance, Competitiveness, and Innovation Global Practice.
... See More + By applying this methodology to Albania, the study aims to establish a sound economic baseline for the national retail payments system in terms of costs of different payment instruments to better guide system development and enable high-impact changes. Moreover, the methodology allows for the development of substitution scenarios (from more costly to less costly retail payment instrument) and the resulting cost savings. It is designed based on four main principles: applicability, comparability, efficiency, and standardization and can be adapted to country-specific circumstances without losing its comparative nature, across time and across countries.
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Over the past decade, financial services for the poor have undergone a dramatic transformation. For years, financial institutions like banks and microfinance institutions (MFIs) struggled to sustainably serve the world’s poor.
... See More + But advances in technology have led to innovative business models, and with them, new opportunities for expanding the reach of financial services. At the heart of this financial transformation is the rise of digital payments services through which nearly any individual or business can send or receive money in real time for almost any purpose and from nearly anywhere in the country, an inclusive payment ecosystem. Overall, the main message that emerges from a review of both country experiences is that interoperability is important, but it is best pursued in mature markets. Engagement with industry is important, and regulators should be cautious when mandating interoperability so as not to hinder early investment. Stakeholders need to focus on governance and business rules, as was the case in the year-long negotiations between providers in Tanzania, and not just the technical implementation, which is currently the overwhelming focus in Ghana. As both markets continue to mature, it will be important to monitor the Tanzanian and Ghanaian experiences in the years to come to fully understand the impact of interoperability on DFS.
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Integrating financial education programs (FEPs) into government cash transfer programs has recently emerged as a strategic policy objective around the world.
... See More + Adequate financial knowledge and skills – the key factors of financial capability – are necessary for cash transfer program beneficiaries to access and use their accounts or cash transfers effectively. Designing a FEP for maximum impact requires extensive customization to the local programmatic and cultural context to address the audiences efficiently and take advantage of the synergies with other government programs and non-government initiatives. This Learner’s Manual is a part of the suite of reference training materials that also includes a Trainer’s Manual and a Trainer of Trainers’ Manual (see volumes 2 and 3). The suite forms a foundation for policymakers and practitioners in designing and implementing FEPs that are tailored to the local context and, as is appropriate in most cases, could be delivered without the benefit of literacy and numeracy from learners. The audio-visual approach makes the content easier to learn, relate to, and conducive to discussions among adult learners. The Trainers’ Manual is built around the Learner’s Manual and provides guidelines on conducting each training session. Similarly, the Trainer of Trainers’ Manual is developed to guide master trainers during their sessions with the trainers. The core content is structured in 19 sessions, including one on mobile money.
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This concept note describes a financial education radio program that was designed by the World Bank under the Supporting National Payment Systems in Ebola Affected Countries (SNPS) project and aired in Guinea.
... See More + Financial education delivery over radio was selected as it provides the greatest outreach and potential for sustainability. In addition, the Central Bank of Guinea (BCRG) recently developed regulations on mobile money and expressed enthusiastic support for a financial education campaign that would also increase consumer understanding and trust of mobile money services, and interest in using them. The financial education radio program was delivered in 24 segments, including 6 on mobile money. It was designed in collaboration with Social Safety Net (SSN) cash-for-work project in Guinea that targeted 25,000 youth and vulnerable women and focused on providing them with temporary work in sanitation activities. The radio program has been localized and contextualized for Guinea based on a study of the focus group selected from the unbanked and underbanked persons among the SSN project beneficiaries. This concept note contains the profile of the targeted population, key parameters of the program, and details the design concept of the entire program and each segment in particular. Full scripts of the audio segments (sketches) are provided in Volume 2 (French version only).
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