As a railway expert working for the World Bank, I engage with many client countries that are looking to expand or upgrade their railway systems. Whenever someone pitches a railway investment, my first question is always, “What are your trains going to carry?” I ask this question because it is fundamental to railway financing.
Railways are very capital intensive and increasingly need to attract financing from the private sector to be successful. That is why the World Bank recently updated its Railway Toolkit to include more information and case studies on railway financing. Here, in a nutshell are the key lessons about railway financing from this update.
The country’s social indicators, a measure of the well-being of individuals and communities, rank among the highest in South Asia and compare favorably with those in middle-income countries. In the last half-century, better healthcare for mothers and their children has reduced maternal and infant mortality to very low levels.
Sri Lanka’s achievements in education have also been impressive. Close to 95 percent of children now complete primary school with an equal proportion of girls and boys enrolled in primary education and a slightly higher number of girls than boys in secondary education.
The World Bank has been supporting Sri Lanka’s development for more than six decades. In 1954, our first project, Aberdeen-Laxapana Power Project, which financed the construction of a dam, a power station, and transmissions lines, was instrumental in helping the young nation meet its growing energy demands, boost its trade and develop light industries in Colombo, and provide much-needed power to tea factories and rubber plantations. In post-colonial Sri Lanka, this extensive electrical transmission and distribution project aimed to serve new and existing markets and improve a still fragile national economy.
As outlined in its Vision 2025, the current government has kickstarted an ambitious reform agenda to help the country move from a public investment to a more private investment growth model to enhance competitiveness and lift all Sri Lankans’ standards of living.
There is a growing demand from World Bank clients and partners to learn about development solutions from fellow practitioners, particularly those who have faced challenges similar to the ones they are confronting in their own countries.
Whether they take the form of:
two-country exchanges through Study Tours or Expert Visits,
or multi-country exchanges in the form of Technical Deep Dives,
Ecuador is paying more and more attention to data collection and disaster risk management across sectors.
Disasters occur worldwide and are part of everyone’s life. Ever since they were first recorded, floods, hurricanes and earthquakes have marked the history of humanity and its evolution. Today, our efforts focus on preparing for and responding to the impacts of these events. This way we can reduce material damages and human suffering.
Disaster risk management is a priority for many countries in the Latin America and the Caribbean region.
Massive investment is needed to meet the ambitious goal of ending extreme poverty and boosting shared prosperity by 2030. By some estimates it could cost as much as $4.5 trillion a year to meet the Sustainable Development Goals (SDGs), and obviously, we will not get there solely with public finance. And there’s the rub: Countries will only meet the SDGs and improve the lives of their citizens if they raise more domestic revenues and attract more private financing and private solutions to complement and leverage public funds and official development assistance. This approach is called maximizing finance for development, or MFD.
In 2014, the island was listed as one of the least urbanized countries in the World Urbanization Prospects (WUP), with less than 20 percent of the population in urban areas. By 2050, WUP projected that number would rise to only 30 percent.
Does this mean we still have to worry about the country’s urbanization? The short answer is yes.
This is, after all, an island nation with one of the highest population densities, complex and evolving social systems and intricate ecosystems.
Meanwhile, urbanization, even at relatively slower pace, is still changing migration patterns, altering the way urban populations consume resources, and impacting the affordability of land and other assets.
These, in turn, are increasing the demand for resources. Growing inequality can be seen as a result of the displacement of less affluent communities, while the loss of important ecosystems has negatively affected resilience and sustainability.
Ms. Sharif became the Executive UN-Habitat in December 2017, succeeding Joan Clos of Spain. She was previously Mayor of the City Council of Penang Island, Malaysia, where she led the Municipal Council of Seberang Perai to achieve its vision of a “cleaner, greener, safer and healthier place to work, live, invest and play.”
To be honest, I have never really been a fan of motorsport racing, but Formula E is something different. Regular sports car racing has always felt too loud, too polluting and a bit pointless, but electric car racing is changing my perception rapidly. The most recent Formula E race and associated FIA Smart Cities event in Santiago, Chile last week highlighted the importance of sustainable mobility and the advantages of advancing electric technology as quickly as possible. Extremely fast electric cars, whooshing by cheering audiences with a distinctly electric whizzing sound, made me realize that the future is definitely now.
In November, 2017, we spent a week with approximately 30 city and national government officials and policymakers from several countries, including Argentina, Chile, Croatia, Egypt, Ethiopia, Malaysia, Philippines, Romania, South Africa, Tunisia and Uganda. These leaders represented diverse cities across the world, all with a common objective – how to make their cities and regions more competitive?
The year of 2017 was one of many recent reminders of that “new normal”—from Hurricanes Harvey, Irma, and Maria that pounded coastal United States and the Caribbean to the severe drought that struck Somali, which led to the displacement and even life losses of individuals and families.
Even when lives are not threatened, livelihoods are at stake: Without major action taken to invest in urban resilience, climate change may force up to 77 million urban residents back into poverty by 2030.
This helps explain why many city leaders attending the World Urban Forum in Kuala Lumpur, Malaysia this week resonate with the same message: Sustainable cities are resilient cities.
At the forum, we spoke with national, municipal, and civil society leaders on the issue of urban resilience—including ministers and mayors from three Latin American countries, a region full of emerging cities and aspiring populations that are no stranger to hurricanes, earthquakes, and other natural disasters.
Watch the videos below and leave a comment to let us know what your city may be doing differently to enhance urban resilience.