World Bank - South Asia

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Contact: In Washington : Erik Nora (202) 458 4735 enora@worldbank.org     WASHINGTON, October 15, 2009 ─ The World Bank today approved a US$320 million loan to India, designed to improve quality, capacity and safety of roads in the state of Andhra Pradesh. Road transport is vital to Andhra Pradesh’s economy, accounting for more than 80 percent of freight and passenger traffic. Recognizing that an efficient transport system is critical for agricultural and industrial growth, the State Government   has invested heavily to improve its transport infrastructure. For example, double lane roads on state highways have increased from 52 percent to 68 percent over the past six years. However, lack of roads maintenance and deteriorating road safety require urgent actions.     The Andhra Pradesh Road Sector Project is designed to   upgrade about 429 km of priority state highways and finance long-term maintenance of over 6,000 km of the state’s core road network.     “Improvements in road transport is vital to catalyze agricultural and industrial development and improve access to markets, jobs, and services to the people of   Andhra Pradesh, especially its   poor people,” said Roberto Zagha, World Bank Country Director for India. “This project will help to remove the infrastructure bottlenecks in the state, which is considered a major constraint to sustain the state’s impressive economic growth in recent years.” The project will help strengthen the State Government’s ability to   leverage its own resources with private sector financing for road infrastructure. This will help the state   attract private sector participation in financing, development, and management of selected high traffic density corridors.   It will also support measures to reduce road accidents, including ‘demonstration projects’ on selected corridors .   “Road safety remains a huge problem in   Andhra Pradesh. In 2007, an average of 36 people were killed on the state’s roads every day,”   said, Binyam Reja, World Bank project team leader. “Hence, road safety is a very important component of this project. Key to this is to improve coordination between the multiple agencies that are developing and enforcing road safety regulations.”   The loan is from the International Bank for Reconstruction and Development (IBRD) and has a maturity of 30 years, including a grace period of 5.5 years.     For more information on the Bank’s work in India, please visit:   http://www.worldbank.org.in   For more project information, please visit: http://www.worldbank.org.in/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=295584&menuPK=295617&Projectid=P096021

Contacts: In Kabul : Abdul Raouf Zia (93) 700 280800   azia@worldbank.org   In Washington : Erik Nora (202) 458 4735 enora@worldbank.org   WASHINGTON, October 15, 2009 ─ The World Bank today approved a $7.5 million IDA grant to support the Government of Afghanistan’s efforts to improve the administration of its public pension program and pilot a social safety net program as a first step to developing a sustainable approach to safety nets in the country. The  Afghanistan Pension Administration and Safety Net Project (APASNP) is designed to improve the administrative capacity of the public pension system to ensure the effectiveness of a reformed pension scheme for public sector employees.   It will also develop a policy framework for safety nets, and on that basis implement a pilot safety net program for needy households, with subsequent proposal for a scaled up national approach.   The main formal social protection programs in Afghanistan include a pension scheme for public sector employees and uniformed servicemen of the military and police as well as pension program for selected families affected by conflict.   Other programs consist of humanitarian aid and various, largely uncoordinated, public and nongovernmental programs. These programs, however, remain small both in terms of their reach and spending. The current spending on the   public sector pension program is less than half percent of GDP and reaches 60,000 people. Roughly the same amount is spent on a program which provides benefits to around 310,000 people affected by conflict, including disabled. The main weaknesses of the current social protection programs include lack of well-designed targeting instruments, poor coordination across programs, poor budgeting, and weak institutional and administrative capacity.   “The government’s vision for social protection and safety net is clearly articulated in the   Afghanistan National Development Strategy (ANDS) ,”  said   Oleksiy Sluchynsky, World Bank Senior Economist and Project Team Leader.  “ The needs for social protection benefits and services are much broader and some donors – including the European Commission, USAID and UNDP – have already recognized the need and are providing technical and financial resources towards building capacity in the sector .   The World Bank will join hands with other donors to ensure sustainability and efficiency of the government interventions and consistency with the broader public sector reform agenda.”    The   project aims to develop capacity in the Ministry of Labor, Social Affairs, Martyrs and Disabled (MoLSAMD) to plan and administer programs in pensions and safety nets and will be implemented over the period of 48 months.   For more information on the Bank’s work in Afghanistan, please visit:   http://www.worldbank.org.af   For more project information, please visit: http://go.worldbank.org/JEU50VC1K0

WASHINGTON, October 15, 2009   - The World Bank’s Board of Executive Directors today approved the following project:   IBRD Loan : US$320 million Terms:   Maturity = 30 years; Grace Period = 5.5 years Project ID:   P096021   Project Description:   The Andhra Pradesh Road Sector Project aims to improve quality, capacity and safety of roads in the state of Andhra Pradesh. The project is designed to upgrade about 429 km of priority state highways and finance long-term maintenance of more than 6,000 km of the state’s core road network.   Media Contact Erik Nora (202) 458-4735 enora@worldbank.org     For more project information, please visit:   http://web.worldbank.org/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P096021

IDA Grant : US$7.5 million equivalent Project ID:   P113421   WASHINGTON, October 15, 2009   - The World Bank’s Board of Executive Directors today approved the following project:   Project Description:   The Pension Administration and Safety Net Project aims to improve the administration of the country’s public pension program and pilot a social safety net program as a first step toward developing a sustainable approach to safety nets in the country. The project is designed to improve the administrative capacity of the public pension system to ensure the effectiveness of a reformed pension scheme for public sector employees. It will also develop a policy framework for safety nets, and on that basis implement a pilot safety net program for needy households, with subsequent proposal for a scaled up national approach.   Media Contact Erik Nora (202) 458-4735 enora@worldbank.org     For more project information, please visit:   http://web.worldbank.org/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P113421

Contacts: In Delhi: Sudip Mozumder (91 11) 2461-7241 smozumder@worldbank.org In Washington: Erik Nora (202) 458 4735 enora@worldbank.org NEW DELHI, October 13, 2009  ─ Loan Agreements for three projects amounting to US$ 4.2 billion equivalent were signed today by the representatives of the Government of India,  India Infrastructure Finance Company Ltd (IIFCL), Powergrid Corporation of India and the World Bank. The three projects were the Banking Sector Support Loan of US$ 2 billion equivalent, the India Infrastructure Finance Company Ltd or IIFCL of US$ 1.195 billion equivalent and the Fifth Power System Development Project of US$ 1 billion equivalent. Mr Anup K. Pujari, Joint Secretary, Government of India signed on behalf of the government for all the three projects, and Mr Roberto Zagha, Country Director for India signed on behalf of the World Bank.     Mr S.S.Kohli, Chairman and Managing Director, IIFCL and Mr S. K. Chaturvedi, CMD of Powergrid Corporation of India signed on behalf of IIFCL and Powergrid, respectively. After a period of high economic growth — which reached 9.7 percent in 2006-07 — the onset of the global financial crisis in 2008 saw India’s growth rate fall to about 5-6 percent in the fourth quarter of 2008-09.  Recognising the challenge that developing countries were facing in wake of the crisis, the G20 guided the World Bank and other multilateral development banks (MDBs) to use their full capacity to sustain their growth by helping finance counter-cyclical spending, bank recapitalization, infrastructure, trade finance, balance of payments support, debt rollover, and social support. The three loans signed today respond to this guidance.  They will help containing the spill-over effects of the global financial crisis, and by so doing, contribute to global financial stability and recovery.  “This is a crucial time.” said Roberto Zagha, World Bank Country Director for India. “While the worst of the crisis seems to be behind us, doubts linger about the strength of the comeback, partly because the strength of the global recovery is uncertain.  Today’s support will help maintain credit growth and continued infrastructure investments in the country.  Supporting infrastructure is particularly important during the current crisis, not just to sustain the domestic economy at a time of reduced global demand, but even more to lay the foundations for stronger future growth.” The US$2 billion Banking Sector Support Loan will provide budgetary support to the Government of India, helping it maintain its broad economic stimulus program by, among other measures, enhancing the capital of select public sector banks. As a result of the global financial crisis, private and foreign banks have slowed their lending and deposit taking, increasing demand on public sector banks. This loan will help maintain credit growth levels, support social banking and employment growth, and help strengthen the economic recovery ahead.   Sustaining high growth and making it more inclusive is one of India’s most formidable challenges. Central to this is the need to improve its physical infrastructure. India’s roads, railways, ports, airports, and above all, power supply, are urgently in need of investment. The US$1.2 billion loan to the India Infrastructure Finance Company Ltd. (IIFCL) is designed to support its role to catalyze private financing for public-private partnerships in (PPPs) in infrastructure and stimulate the development of a long-term local currency debt financing market.   “This loan will help IIFCL increase the availability of long-term finance for infrastructure projects across a range of sectors including roads, power, airports, and ports,” said Mr. S.S. Kohli, Chairman and Managing Director, IIFCL. “India's infrastructure needs have been estimated at between US$ 100 -150 billion per year, with realizations well short of this target.  Closing the shortfall is important not only because infrastructure limitations now are India's most serious constraint to growth, but also because they are India's most serious limitation to translating growth into rapid poverty reduction." Zagha added. Continuing its 15 years support to the Powergrid Corporation of India, the country’s national electricity transmission company, the Bank also approved US$1 billion for the Fifth Power System Development Project. It is designed to help address India’s acute deficit of power. Almost half of Indian households (44 percent) do not have access to electricity. The loan will help Powergrid strengthen five transmission systems in the northern, western and southern regions of the country. This will facilitate the transfer of power from energy surplus regions to towns and villages in under-served regions of the country. The Bank has supported Power Grid since its inception, during which time the company has nearly tripled its transmission network to become one of the world's largest electricity transmission system operators.      “This loan will enable Powergrid to strengthen the existing transmission system as well as expand  the Indian national grid which will help the Government of India achieve its objective of ‘Power for All by 2012’,” said Mr. S.K. Chaturvedi, Chairman and Managing Director, Powergrid.     The loans (Banking Sector and Powergrid) from the International Bank for Reconstruction and Development (IBRD) have a 30 year maturity including a 5-year grace period.  The IBRD loan to IIFCL has a 28 year maturity including a 7.5-year grace period.  # # # For more information about these projects, please visit:  http://go.worldbank.org/BID8YLZKI0 For more information on the Bank’s work in India:  http://www.worldbank.org.in  

Annual Meetings Board of Governors of the World Bank Group Remarks of   Robert B. Zoellick President The World Bank Group   Istanbul, Turkey October 6, 2009   “The World Bank Group Beyond the Crisis”   Mr. Chairman, Governors, and Distinguished Guests: Thank you for joining us at these Annual Meetings.   I want to express my particular thanks to the Chairman of the Board of Governors, Nguyen Van Giau, and to Agustín Carstens for his leadership of the Development Committee.   Agustín and I have worked ever more closely over the last two years.   I have deep respect for his skills as a Minister and as a thoughtful leader, and benefited greatly from his partnership and friendship.   This is Agustín’s last meeting as Chair of the Development Committee, although I know I will wish to call on his advice and judgment in days to come.    I look forward to working with Minister Al-Khalifa of Bahrain, who has graciously agreed to assume the Chair of the Committee.   Minister Al-Khalifa and I have worked together in earlier capacities, and I am delighted he has agreed to join us at this critical time.   I also want to thank my colleague Dominique Strauss-Kahn.   Our two institutions have partnered closely over the last year, and I have much appreciated his insight, practicality and good humor. I am grateful too, to the Turkish Government and the people of Turkey, who have been exemplary hosts for our Annual Meetings this year.   We have enjoyed seeing this fascinating city in a country that has accomplished so much.   Most of all, we thank the wonderful people of Istanbul and Turkey.     I would like to take this opportunity to recall former World Bank President Robert McNamara.   He led and shaped the Bank for 13 incredible years.   He brought to this institution enormous energy along with the firm belief that the problems of the developing world could be solved.   He left behind him a formidable record: the effort to eradicate and prevent river blindness; the Bank’s first loan for nutrition; a focus on the rural poor; increased lending to agriculture; the publishing of the first ever World Development Report; and the opening of relations between the Bank and China at a crucial time in that country’s development – a reflection of both his foresight and leadership.   Robert McNamara shifted the focus of the World Bank Group toward the goal of overcoming poverty worldwide.   It remains our core mission today, and ensures that Mr.   McNamara’s legacy in international development – and to the World Bank Group – lives on. In his final years, when I spoke to Mr. McNamara, he remembered fondly the tremendous staff of the World Bank Group, a true collection of talents across cultures and lands.   His successors have expressed the same appreciation.   I want to add my thanks to theirs.   The people of the World Bank Group have risen to the challenge of crisis over the last year – with energy, creativity and strong sense of purpose for the client countries and people we are privileged to serve.   We are also saddened by the recent passing of Minister Futa of the Democratic of Republic of Congo.   I would like to join the Chairman in extending my condolence to his family and the government of DRC.   I would also like to express my deepest sympathies to the family of the former Finance Minister of Japan, Mr. Nakagawa.   *****                *****                *****   A year ago, we came together at a time of turmoil.   Today, that turbulence is far from over. As a result of the global crisis, we estimate that 90 million more people will be living in extreme poverty by the end of next year; up to 59 million more people will lose their jobs this year; and an additional 30,000 to 50,000 babies may die in Sub-Saharan Africa.   Behind these numbers lie human stories: -- Aoy Puon is a garment factory worker in Cambodia.   Since the crisis hit, her monthly salary has been cut in half. Today she can’t make enough to send money home to her family who depend on her income.   48 garment factories have had to close in Cambodia over the past year, and 62,000 workers have lost their jobs – 90 percent of them women.   Aoy is now worried that she will lose her job.   -- Zagd is a herder in Mongolia, where the financial crisis has caused livestock prices to plummet.   Meanwhile, food costs increase daily, so Zagd can no longer afford to buy flour, rice, or sugar.   For herders like Zagd, there is no pension or social benefit money – instead, with decreased income, the only recourse is to cut consumption.   As one herder says, “I do not buy sugar because it is expensive. We do not use vegetables. We do not go out, therefore we do not need many clothes…In the winter time, we do not buy wood and coal.” -- Lindiwe is 28 and lives in a shanty town in southern Africa.   She's HIV positive and has TB.   She was turned away from the NGO clinic that provides treatment for these diseases, because donor funding has dried up as a result of the financial crisis, and the NGO has run out of drugs.   Prospects for additional funding look bleak: a recent World Bank and UNAIDS survey found that 1 in 5 developing countries have experienced cutbacks on anti-retroviral treatment programs, and 33 countries expect the impact to worsen over the next year.   For Lindiwe, time is running out: "I am scared of dying and leaving my little girl alone," she says. Jobs lost and lives destroyed.   Girls forced out of school.   Families who need to decide which meal to cut out of their day.   Children malnourished.   Human progress reversed, often irretrievably. While we talk of recovery, the personal pain of poverty is all around us. In cities, villages, valleys, and plains; on Main Streets and communities with no streets we hear a common refrain: “Don’t let this happen again.”      Sadly, we cannot make that promise.   We cannot crisis-proof our world.   Indeed, if there is   one thing that is assured about the future, it is that there will be another upheaval.   But with leadership and cooperation, we can learn lessons from the past crisis, and we can look ahead. We need to look beyond emergency response, to actions to “build back better” -- actions that can endure.   That work is up to us in this room.   Cooperation at times of crisis is the easier part.   Cooperation when no longer staring into the abyss is the challenge. Seeds of Crisis   Before looking to the future, we need to understand the past.   Today’s upheaval did not occur from nowhere.   The seeds were planted earlier. The last 20 years have witnessed a huge economic shift.   The breakdown of the planned economies in the Soviet Union and Central and Eastern Europe, the economic reforms in China and India, and the export-driven growth strategies of East Asia all contributed to a world market economy that vaulted from about 1 billion to 4 or 5 billion people.   This shift offers enormous opportunities.   But it has also shaken an international economic system forged in the middle of the 20 th Century, with patched-up changes in the decades since. Some seeds of today’s troubles were sown by the responses – or lack of them – to the financial crises of the late 1990s.   After the Asian financial crisis, developing countries determined they never again wanted to be exposed to the tempests of globalization.   Many “insured” themselves through managing exchange rates and building huge currency reserves.   Some of these changes contributed to imbalances and tensions in the global economy, but for years governments muddled through amidst generally good growth.   Central banks failed to address risks building in the new economy.   They seemingly mastered product price inflation in the 1980s, but most decided that asset price bubbles were difficult to identify and to restrain with monetary policy.   They argued that damage to the “real economy” of jobs, production, savings, and consumption could be contained once bubbles burst, through aggressive easing of interest rates.   They turned out to be wrong. Regulators and supervisors of financial institutions were no longer grounded in reality.   Financial innovation and competition vastly expanded services – including to companies and families often shunted aside in the past – but the alluringly simple design of “rational markets theory” led regulators to take a holiday from the realities of psychology, organizational behavior, systemic risks, and the complexities of markets and humans. Even as we learn these harsh lessons, we need to anticipate and build.   In 1944, the delegates at Bretton Woods seized a moment to shape a new global arrangement. They spent three weeks in New Hampshire developing a system of rules, institutions, and procedures for financial and commercial relations in the world economy. That world has changed enormously over the past 65 years.   The current upheaval is changing the landscape yet again. Already, we can see potential shifts in power and institutions and international cooperation.   In part, the shifts will depend upon how the parties adapt to new circumstances; in part, upon the rapidity of the recovery;   in part, upon changes in who holds the world’s capital, technology, and human resources and what they do with them; in part, upon how countries cooperate – or do not. The Changing Context Just over 10 years ago, during the Asian financial crisis, the world’s primary concern was whether China would hold its currency peg to help stabilize the falling economic dominoes.   Today, China ranks with the world’s major economies and acts as a stabilizing force in the global economy.   Together, China and India account for 8.5 percent of world output.   They and other developing countries are growing substantially more rapidly than developed countries. The United States has been hit hard by the crisis.   But it is a resilient nation.   Its future will depend on whether and how it will address large deficits, recover without inflation that could undermine its credit and currency, and overhaul its financial system to preserve innovation while adding to safety and soundness.   The United States also needs to help people adjust to change, so that it can maintain its greatest trump card: openness to trade, investment, people, and ideas.   Japan is the first leading industrial power to experience a political upheaval in the wake of the crisis. The election of the Democratic Party of Japan could create a sustainable two-party democracy for the first time in the country’s history.   It is not clear that the old export model of growth will meet Japan’s and the world’s needs or be sustainable in a more “balanced” global economy that does not rely so heavily on the U.S. consumer.   An aging Japan will have new consumption needs.   A global economy with more poles of growth could offer Japan new markets, especially for its impressive capabilities to use energy efficiently. Central and Eastern European economies suffered strong blows.   And their problems are far from over.   The good strategic news is that the European states, for all their internal debates and negotiations, have recognized their interdependence.   Under stress, this time, Europe did not splinter.   South East Asia may also have been given a boost by the crisis – depending on how opportunities are seized.   The region lies at a geographic crossroads between India and China, two rising powers.   ASEAN seems to have recognized the moment, and has taken actions to deepen its integration even while reaching out to others.   Given the sizeable weight of Indonesia and the rising influence of Vietnam, their sound performance amidst economic turmoil has stood in sharp contrast to a decade ago. For others, the long-term impact of the crisis may depend upon commodities, especially oil prices, which, in recent years, gave high returns. When the oil price is at $100, these countries are strong.   When it is at $30, most are in serious trouble.   This reliance on oil and commodities is a precarious basis upon which to build an economy in a world that is struggling to reduce its reliance on fossil fuels, and in which commodity prices gyrate as investors move in and out of an “asset class.”   Will countries use these returns wisely – to diversify and build broader-based economic development?    These are the questions for Russia, countries in the Gulf, and some countries in Latin America and Africa. Prior to the crisis, the growth rates of a number of African countries were achieving impressive levels with consistency.   Coming out of the crisis, there could be new opportunities.   Some Chinese manufacturing firms are considering shifting their basic production to Africa.   China’s African prospects – which include resource development and infrastructure – are likely to be complemented by others.   Brazil is interested in sharing its agricultural development experience.   India is building railways.   These are the early days of a trend that will build. Understanding shifting power relations is fundamental for shaping the future -- as the Bretton Woods’ delegates appreciated.   The political basis for that system was forged through a shared experience in failed responsibility after World War I and a clear assessment of power after World War II.   Change those power relations -- and the nature of the markets that connect them -- and the system looks out of touch. What Next: Responsible Globalization? The old order is gone.   We should not waste our time and tears lamenting it.   Today we must build anew.   Today we can put in place the foundations for a “New Normal” of growth and responsible globalization.   Globalization has helped sustain high economic growth in many countries and lifted hundreds of millions out of poverty.   Yet the growing linkages between economies have also played a central role in turning a financial crisis in the developed world into a global crisis that is driving millions back into poverty.   The pace of climate change is accelerating, with poorest countries hardest hit. Diseases such as SARS in 2004, or this year’s H1N1 virus, start as localized outbreaks but   quickly become global threats.   Their virulence has only been intensified by increased travel and open borders. We cannot and should not turn the clock back on globalization.   Nor are publics demanding that we do so.   But we can and must reform it to curb the damage it can wreak while expanding the enormous benefits that responsible globalization can provide to millions. What Would it Take to Build Responsible Globalization? First and foremost, we must recognize that developing countries are key to the solution today, progress tomorrow, and prosperity in years to come.   Two weeks ago, in Pittsburgh, world leaders embraced the G-20 as the premier forum for international economic cooperation among the advanced industrialized countries and rising powers.   This is a good start.   But the G-20 cannot be a stand-alone committee.   Nor can it ignore the voices of the over 160 countries left outside.   The G-20 should operate as a “Steering Group” across a network of countries and international institutions with a broader membership.   It should recognize the interconnections among issues and foster points of mutual interest, without being either hierarchical or bureaucratic.   It should be connected to our G-186 here in this room. Forecasters expect lackluster growth and continued high unemployment for a number of years.   The U.S. consumer can no longer be the main engine of economic demand.   Europe and Japan appear constrained; China can assist, but its credit growth could pose problems next year.   With access to finance, other developing economies can help boost a global recovery.   Many have the fiscal space to borrow, but cannot get the volumes they need at reasonable prices without crowding out their private sectors.   The World Bank Group and regional development banks can assist.   Enhanced financial regulation and supervision that shift incentives from short-term casino capitalism to long-term productive investment will help. Second, leaders must emphasize that a balanced and inclusive global economy needs multiple poles of growth – and not just adding China and India.   Countries in Latin America, Southeast Asia, and a wider Middle East can assist in the future if they invest today.   Over time, investments in Africa, a market of almost a billion people, can integrate its markets and become another source of growth. To build multiple poles of growth, we need to remove bottlenecks and boost productivity through investments in infrastructure and energy, private sector expansion, and regional integration linked to open markets.   New poles of growth can be customers for the capital goods, services, and technology of developed countries. Third, leaders must commit to making growth sustainable.   As the World Bank’s recently released World Development Report on development and climate change points out, developing countries not only face 75-80 percent of the potential damage from climate change, but over 1.6 billion of their people still lack access to electricity.   Developing countries – and their interests – must be at the table.   They need incentives and financing to encourage low carbon growth by adopting technologies, implementing energy efficiencies, and investing in forestation.   Fourth, we must put in place mechanisms to protect the most vulnerable.   Two weeks ago at the Pittsburgh Summit, the G-20 leaders re-iterated their support for a new $20 billion food security initiative launched at Italy’s G-8 meeting.   They called upon the World Bank Group to work with donors and organizations to develop a multilateral trust fund to scale-up agricultural assistance to low income countries.   Too often, bilateral aid concentrates resources in specific sectors and countries.   But with this more comprehensive, multilateral approach we can pool resources and better support innovative efforts to tackle food security all the way along the food chain and build sustainable agricultural systems.   Paper pledges, however, will not put seeds in soil or food in hungry mouths.   Hunger and famine – as the present drought in East Africa shows – are an ever-present threat.   So we must move quickly to turn this initiative into reality.   Food, fuel, and now financial crises have derailed progress towards the Millennium Development Goals, reversing years of gains.   We must fill a gap in the global financial architecture by offering insurance to the poorest countries that they will not be left defenseless in the face of overwhelming shocks.   The World Bank Group will work to flesh out the proposal for a Crisis Response Facility, endorsed by the G-20 and the Development Committee, that can be ready to offer quick and effective assistance for the most vulnerable and fragile countries, many of which are just emerging from conflict.   From targeted safety nets to SMEs and microfinance, we can help buffer those with the least cushion from the greatest upheavals.   We must also work toward a hand-off from government stimulus to private sector demand, investment, and trade, by offering a counterweight to financial and trade protectionism.   IFC has just launched a new Asset Management Corporation that manages funds to invest in banks, equity, infrastructure, and debt restructuring.   We can help build developing country financial markets, while channeling capital from sovereign, pension, and other asset management funds to productive private sectors in developing countries.   The Role of the World Bank Group Last year, the Bank Group stepped up to the crisis and delivered a record $59 billion of financial assistance.   IBRD commitments almost trebled to $33 billion.   IDA also reached a record high of $14 billion; over 50 percent of new IFC projects were in IDA countries.   Support for infrastructure – critical to recovery and jobs – reached $21 billion; we scaled up assistance of $4.5 billion for safety nets and other social protection programs to cushion the most vulnerable. IFC combines strong innovation with resource mobilization; we have launched initiatives on bank capitalization, trade finance, infrastructure, and microfinance. We expect a new IBRD record of $40 billion or more this fiscal year.   Demand for IBRD lending is now clearly moving significantly beyond the $100 billion level that the Development Committee called for in its Communiqué last year.   IDA countries are also facing significant financing gaps.   We estimate that financing shortfalls to cover at-risk core spending on health, education, safety nets, and infrastructure amount to some $11.6 billion for the poorest countries. I know that budgets in developed countries are constrained.   But responsible globalization requires responsible stakeholders.   We can and must do more.   What is the Role for the Bank Group in a New Post-Crisis World? A well capitalized World Bank Group would be positioned to play a leading role in the global response to the challenges of globalization, development, and financial crisis.   We have a global, local, and cross-sectoral presence with the skills to work with public and private sectors, middle income and low income countries.   We have a repository of global best practice in development that we continually upgrade; world-class risk management and banking competencies; and the capabilities to leverage our balance sheet.   We have a leadership role in the growing global public goods agenda, and a worldwide catalytic and convening power.   All these factors make the World Bank Group unique among the multilateral development banks. Four key drivers are likely to shape the Group’s post-crisis role: Driver 1 will be traditional and innovative development finance.   There is strong demand from the Bank Group’s clients for the institution to come out of the crisis well-capitalized and to be able to sustain the delivery of a critical mass of financing to support global economic growth and to overcome poverty.   The World Bank Group can play this role in several ways.   We can contribute to fiscal stimulus and protecting core spending in countries that are not in a position to implement counter-cyclical policies; we can help to boost global demand to support global recovery; we can finance and support trade; we can assist the private sector to assume the critical handoff from the governments’ crisis response actions; and through investment, we can help to build multiple poles of growth with responsive, accountable public sectors and dynamic private sectors. The second driver will be delivering knowledge products.   The Bank Group is a repository of global best practice in development, combining implementation experience, research, and learning, drawing on both public and private sectors.   As such, clients are looking to us to connect and customize multiple sources of practitioner knowledge and innovation. The third driver is the global public goods agenda – pressing global challenges such as climate change, and communicable diseases that require an institutional response that is multi-sectoral, combining policy advice and investments with a global reach grounded in country programs. Already the Bank Group is mobilizing significant financing through the Climate Investment Funds.   We can play a key role in technology transfer, working with clients on low carbon growth strategies, and in strengthening health systems where we are now scaling-up our work.   The Bank Group can also support the public goods of resilient and dynamic trading and financial systems, based on multilateral rules. The fourth driver is future crises – those that we can’t foresee today but know will happen: it might be a pandemic, a natural or man-made disaster, or an economic or social crisis.   In response, the Bank can mobilize its full range of skills and instruments for the benefit of its shareholders, as it has done recently in the food crises, or in response to the Indian Ocean tsunami or financial crises in Mexico and East Asia.   The World Bank is pursuing a number of financial measures to make the most of our capital, including a loan price increase; working with countries so we can use the shares they purchased with national currencies; a selective capital increase linked to changes in “voice”; tight budget discipline; and a possible increase in pricing for longer maturity loans.   These measures emphasize the mutual responsibilities and contributions of all our members.   But they may not be enough.   If the IBRD continues its lending at the current rate, by mid-2010 it will be capital constrained.   IFC is limited now.   Of course the future is uncertain.   If the recovery falters, or simply struggles slowly, should we risk a World Bank Group already stretched to the limit and unable to lead?   In the face of the next crisis – another food emergency, the next epidemic – can we afford to have a World Bank Group that has to hold back?   I thank the Development Committee for committing yesterday that it will ensure that the World Bank Group has sufficient resources to meet further development challenges, and that it will reach a decision on this issue by Spring 2010.   This is an important step forward in the first General Capital Increase for the World Bank in twenty years. The Reform Agenda To serve the changing global economy, the world needs agile, nimble, competent, and accountable institutions.   The World Bank Group will improve its legitimacy, efficiency, effectiveness, and accountability, and further expand its cooperation with the UN, the IMF, the other Multilateral Development Banks, donors, civil society, and foundations which   have become increasingly important development actors .   We know well the importance of advancing multiple reforms to address shareholder requests, improve performance, and build support with your legislatures.   Our efforts include: ·            Improving development effectiveness, with a focus on the results agenda, decentralization, gender, investment lending reform, and human resources; ·            Promoting accountability and good governance, including with our global anti-corruption efforts, an improved transparency and disclosure policy, and the soon-to-be-released recommendations of the Zedillo Commission; and ·            Continuing to increase cost efficiency. But we must go further. The Bretton Woods system was forged by 44 countries at a time when power was concentrated in a small number of states.   The great waves of decolonization were just stirring; the few developing countries were seen as objects, not subjects, of history.   That world is long passed. The new realities of political economy demand a different system. If developing countries are part of the solution, they must also be part of the conversation.   The international system needs a World Bank Group that represents the international economic realities of the 21 st Century, recognizes the role and responsibility of growing stakeholders, and provides a larger voice for Africa.   The first phase of the reforms to enhance the voice and representation of developing and transition countries in the Bank Group was completed a year ago, with an additional Board seat for Sub-Saharan Africa and an increase in the voting power of developing countries at IBRD to 44 percent.   I am pleased that yesterday the Development Committee stressed the importance of securing a further increase in voting power for developing countries of at least an additional 3 percent – bringing developing countries to at least 47 percent, for final decision at our Spring Meetings next year.   We must continue to be ambitious.   We should try to see if we can increase the share of the developing countries toward 50 percent over time, even as the emerging economies share the responsibilities of assisting poorer countries with their development.   The World Bank Group should more accurately reflect the world around us. Conclusion Mr. Chairman:   The old international economic order was struggling to keep up with change before the crisis.   Today’s upheaval has revealed the stark gaps and compelling needs.   It is time we caught up and moved ahead. We need a system of international political economy that reflects a new multipolarity of growth.   It needs to integrate rising economic powers as “responsible stakeholders” while recognizing that these countries are still home to hundreds of millions of poor and face staggering challenges of development.   It needs to engage the energies and support of developed countries, whose publics carry the heavy burdens of debt, competitive anxieties, and feel that the new powers must share responsibilities.   It needs to help offer a hand to the poorest and weakest countries, the 900 million people who still live without access to safe water, and the “Bottom Billion” trapped in poverty because of conflict and broken governance. Yet it won’t happen by itself.   T he question is whether leaders can cooperate in steering these changes.   They will be drawn to the interests of the national publics they represent, as they should.   Yet they will also be challenged to recognize and build common interests, not only case-by-case, but through institutions reflecting a “Responsible Globalization.”     Bretton Woods is being overhauled before our eyes. This time, it will take longer than three weeks in New Hampshire. It will have more participants. But it is just as necessary.   The next upheaval, whatever it may be, is taking form now. Shape it or be shaped by it.

Contacts: In Istanbul: David Theis  (202) 203-0601 dtheis@worldbank.org     ISTANBUL , October 6, 2009 – The World Bank is pursuing an ambitious program of reform to enable the institution to become more efficient and effective while also gaining more legitimacy among the developing countries that it serves, World Bank Group President Robert B. Zoellick said.   In a speech at the start of the Annual Meetings of the World Bank and International Monetary Fund in Istanbul, Turkey, Zoellick said the World Bank’s reforms would focus on improving development effectiveness, promoting accountability and good governance, and continuing to increase cost efficiency.   “To serve the changing global economy, the world needs agile, nimble, competent, and accountable institutions,”  Zoellick told the meeting of the Board of Governors of the World Bank Group. “The World Bank Group will improve its legitimacy, efficiency, effectiveness, and accountability, and further expand its cooperation with the UN, the IMF, the other Multilateral Development Banks, donors, civil society, and foundations which have become increasingly important development actors.”   Zoellick noted that when the World Bank was established in 1944, the world was different from today. The institution was formed by 44 countries whereas its membership today stood at 186. The developing countries of today were mostly still colonies. This system had long passed and the political economy of the 21st century demanded a changed order that reflected the growing role of developing countries. They were now a source of potential economic growth that could lead to a more balanced world economy.   “If developing countries are part of the solution, they must also be part of the conversation.   The international system needs a World Bank Group that represents the international economic realities of the 21st Century, recognizes the role and responsibility of growing stakeholders, and provides a larger voice for Africa,”  Zoellick said.      The World Bank’s shareholders supported reforms that would give developing countries at least 47 percent of the voting shares in the institution. Zoellick said shareholders should go beyond this to achieve a 50 percent share for developing countries.   Reform was inevitable as the world was changing so quickly, Zoellick said. “The old international economic order was struggling to keep up with change before the crisis.   Today’s upheaval has revealed the stark gaps and compelling needs.   It is time we caught up and moved ahead.”   The High Level Commission chaired by former Mexican President Ernesto Zedillo, which Zoellick set up last year to look at more far reaching reforms of World Bank governance, is expected to submit its report later this month.   -#-

Secondary education critical to breaking inter-generational cycle of poverty, with huge beneficial impacts on health, marriage age, fertility rates, and child rearing practices Media Contact: In New Delhi: Sudip Mozumder (91-11) 24617241 smozumder@worldbank.org NEW DELHI, October 6, 2009   ─   India needs to equip the 12 million young people who join its labor force every year with higher levels of education and skills to be able to access better-paying jobs, and to benefit from the demographic dividend,   says a new World Bank report. To achieve this, the country will need to reduce the significant bottlenecks in its secondary education system. The Report, Secondary Education in India: Universalizing Opportunity puts forward several suggestions aimed at improving secondary education in India. These include increased investments in additional classrooms and teachers, improved curriculum and textbook development; more effective teacher education and training; introduction of new educational technologies; improved teacher management and accountability systems; and examination reforms that will improve access, quality and equity of secondary education.   Today, the challenge for the Government of India (GoI) is to dramatically improve access, equity and quality of secondary education, simultaneously.   The GoI’s recently launched centrally sponsored scheme for secondary education – Rashtriya Madhyamik Shiksha Abhiyan (RMSA) – offers a tremendous opportunity to set up a mass secondary education structure - that is responsive to the country’s socioeconomic needs and capabilities. “Compared to elementary and higher education, secondary education has not received the attention it deserves until now.   Yet evidence from around the world suggests secondary education is critical to breaking the inter-generational transmission of poverty – it enables youth to break out of the poverty trap.   Fortunately, the government’s new ambitious schemes for secondary education will, over the next ten years, provide young people with the knowledge and skills they need to succeed in the 21 st century and help India catch up with other countries,” said Sam Carlson, Lead Education Specialist, World Bank.   Inequitable access Access to secondary education is today highly inequitable across income groups, gender, social groups, geography and states.   According to the report there is a 40 percentage point gap in secondary enrollment rates between students from the highest and lowest expenditure quintiles. In addition, there is a 20 percentage point gap between urban and rural secondary enrollment rates, and a persistent 10 percentage point gap between secondary enrollment rates of boys and girls.   Secondary enrollment by state also varies greatly from 22 percent in Bihar to 92 percent in Kerala; and from 4 percent in Jharkhand to 44 percent in Tamil Nadu.   In some states such as Rajasthan, Uttar Pradesh and Madhya Pradesh enrollment of the general population at the secondary level is 80 percent higher than for scheduled castes and scheduled tribes and Muslims. Significant impact on gender, health and nutrition Highlighting the immense social benefits that secondary education can have for girls, the report states that the average age of first time mothers with less than five years of education is 19, which is significantly lower than that of girls with at least 12 years of education, where the average age is around 25 years. This difference has a significant impact on both child mortality and malnourishment. Child mortality for girls who become mothers at 25 is around 30 per 1000 children much lower than the 80 deaths per 1000 children for mothers with less than five years of education.    The percentage of malnourished children also dramatically reduces to around 18 percent for mothers with at least 12 years of education as compared to 46 percent for mothers with less than five years of education. Such immense social benefits are critical to breaking intergenerational transmission of poverty, says the report. Crucial for economic development Availability of sufficient skilled human capital is one of the key variables in determining foreign direct investment in both manufacturing and services – a key factor in economic growth. It is here that India lags behind some of its global competitors. The share of the labor force which had completed secondary education in India in 2004 (16 percent) was just half of the percentage of workers in China who had completed secondary education in 1975 (31 percent), thirty years earlier.   India’s gross enrollment rate (GER) at the secondary level of 40 percent is far inferior to the GERs of its global competitors in East Asia (average 70 percent) and Latin America (average 82 percent).   Even countries such as Vietnam and Bangladesh, which have lower per capita incomes than India, have higher gross enrollment rates.   This suggests India has a lot of catching up to do.   Projections made in the report suggests an increase in absolute demand for secondary education between 2007-08 and 2017-18 of around 17 million students, with a total enrollment growing from 40 to 57 million students. However, an increasing share of these students will come from rural and lower income quintile groups, who will be less able to afford private unaided secondary education.   Key constraints: The report highlights some of the key constraints that limit access to secondary education. These include insufficient and uneven distribution of school infrastructure; lack of trained teachers and inefficient teacher deployment; sub-optimal use of private sector to expand enrollment capacity; and insufficient schooling opportunities. In fact, 27 percent of India’s districts have less than one secondary school for every 1,000 youth aged 15-19 years.      Low completion rate of elementary education, which limits the number of students ready for secondary education is a major constraint on the demand side. Currently fewer than 60 percent of children complete grade 8, though this is improving with SSA. Moreover, the average direct cost of secondary education is double that of primary education, which reduces poor households’ ability to pay for secondary education. Recommendations made by the report: Options to increase supply of secondary education include: i.                 Innovative public-private partnership models including reform of the current grant-in-aid system; ii.                Public classroom and school construction, especially in rural areas; iii.               Training and hiring of more teachers; iv.               Introduction of double-shift teaching; v.                Expanded use of open learning and new technologies to complement and supplement face-to-face teaching Options to raise demand for secondary education include: i.                 Increase the number and quality of grade 8 students; ii.                Provision of financial and in-kind assistance for poor and disadvantaged students; iii.               Public information campaigns to change attitudes about benefits of schooling and delayed marriage; iv.               Investments in curriculum revision, progressive pedagogy, technology and examination reforms. Options to improve quality of secondary education include: i.                 Strengthened secondary education teacher training colleges; ii.                Peer-based, mentor-led, subject-specific professional development of teachers; iii.               Teacher performance standards and increased community monitoring of student learning; iv.               Financial incentives and technical assistance for State boards to align both curriculum and examinations to the National Curriculum Framework; v.                Improvements   in textbook development and distribution; vi.               Participation in international assessments of student achievement at the secondary level.         For more information about the Report and the World Bank’s work in India, please visit : http://www.worldbank.org.in   [1] In the manufacturing and services sector

Contacts:  In Dhaka:  Mehrin A. Mahbub  (880-2) 8159001 mmahbub@worldbank.org In Washington: Erik Nora (202) 458 4735 enora@worldbank.org Dhaka, October 05: With already over 12 million population, Dhaka is projected to become the third largest city by 2020 with over 20 million population. Poor air quality in urban area creates serious health hazards, adversely affects environment and quality of life. To address air pollution in Dhaka, the Government of Bangladesh with support from the World Bank today launched an innovative project ‘Clean Air and Sustainable Environment (CASE). This is the first project that integrates environment and transport under one common objective of improving air quality.  It is estimated that if the exposure to urban air pollution were reduced by 20% to 80%, it would result in saving 1,200 to 3,500 lives annually and avoiding 80 to 230 million cases of disease. The concentration of the key air pollutant (Particulate Matter or PM) in Dhaka and other major cities has been alarmingly increasing in recent years, with an annual average much higher than the World Health Organization (WHO) thresholds. The Clean Air and Sustainable Environment (CASE) project aims to improve air quality in Dhaka city by addressing two main air polluting sectors: the brick manufacturing sector and the transport sector. CASE is a 5 year project that became effective on August 19, 2009. The World Bank is providing US$62.20 million interest-free concessionary credit for the project. “Poverty reduction and Environment sustainability are interlinked. Dhaka is one of the most densely populated mega cities with high risk of health hazards for its residents due to poor air quality.” said Mohamed Toure, Acting Operations Advisor, World Bank Bangladesh “World Bank is particularly happy to be able to support the Government to tackle Dhaka’s environmental, transport and traffic challenges through the innovatively designed CASE project focusing on reducing air pollution and safe mobility under a co-benefit approach” The CASE project will provide technical assistance to the Ministry of Environment and Forest to improve air quality monitoring in Bangladesh. It will also introduce cleaner technologies, in the very polluting brick manufacturing sector. These energy efficient new technologies will reduce energy consumption and lower air pollution. In urban transport, the project will introduce low cost measures to reduce conflict between motorized and non-motorized transport, reduce congestion and provide safer and cleaner mobility for pedestrian in pilot areas in Dhaka.  Close collaboration between Dhaka City Corporation, Dhaka Transport Coordination Board and Dhaka Metropolitan Police is essential for the success of this project.   For more information on the World Bank in Bangladesh, please visit: http://www.worldbank.org/bd # # #

Forty percent contracts in India experience cost overruns of 25 to 50 percent   Media Contact: In New Delhi: Sudip Mozumder (91-11) 24617241 smozumder@worldbank.org NEW DELHI, October 5, 2009: If India is to move in its high growth trajectory over the next 8 years, the Indian construction industry is likely to witness a huge shortage of skills. The supply of skilled human resources required by the construction industry will fall short by 55 to 64 percent. To meet this demand, the number of civil engineering graduates and diploma holders would have to go up by at least a factor of 3, says a new World Bank study.       The study titled,  India’s Road Construction Industry: Capacity Issues, Constraints and Recommendations  says while the quantum of road works has gone up significantly in the last decade,  the industry has not kept pace with this growth, as evidenced by the under-utilization of funds allocated to road projects and perennial time and cost overruns on national and state highway projects.   The study shows that while the outer limit of time extension for contracts in the United Kingdom is 25 percent, 70 percent of construction contracts in India exceed that limit, often by large margins. Moreover, 40 percent contracts in India experience cost overruns of 25 to 50 percent. The average time for making the site fully encumbrance free is 30 months against the usually allocated 18 months and in 75 percent of the cases the delays are also attributed to wrong survey data. The effectiveness of dispute resolution mechanism is another area of concern with about Rs. 90 billion estimated to be locked in various disputes and arbitration.    Weak project and financial management and resource management are other areas which need attention. As per estimates, India today has around 110,000 highway engineers. This is in sharp contrast with China where the road infrastructure development was supported by over 500,000 trained highway engineers, during the period 1989-97.   The Study makes key recommendations in the short (02 years), medium (2-5 years) and long (5-10 years) term time horizons covering a range of issues aimed at improving overall efficiency and performance of the industry. These issues include recommendations on institutional structures and regulation, project design, quality of human resources, access to finance and efficiency in procurement.   Amongst its several suggestions to improve the Indian construction industry and in order to eliminate the hassles associated with inter departmental coordination, the study has recommended: (a) mainstreaming the pre-construction process and clearances; (b) setting up a Road Appellate Tribunal for faster dispute resolution based on the US and Singapore models, rather than the  current contract by contract approach; (c) initiating a system on rating, grading and registration of construction companies and individuals, as currently  followed in US and several European countries, to improve professionalization in the industry and facilitate improved access to finance; and (d) framing a construction law to improve the legal and regulatory environment in the country.  Stressing the need for immediate action, Arnab Bandyopadhyay, Senior Transport Engineer of the World Bank and one of the authors of the study said: “While the capacity challenges in the industry are huge, certain recent initiatives taken by the Government of India in improving the investment climate are very encouraging. Notable among these initiatives, fully coherent with the study recommendations, are decisions to undertake the international road shows and review the current Model Concession Agreement for National Highway projects.”     The key constraints faced by the road construction industry: Design, pre-construction issues (delays in site hand-over), timely payments and other project implementation issues; Availability of skilled human resources; Poor governance, corruption, lack of decision-making; Project management and non-adherence to the dispute resolution mechanism prescribed in the contract.     For more information about the Report and the World Bank’s work in India, please visit:  http://www.worldbank.org.in

Contacts: In Davos: Amanda Ellis 1 (202)   247-5150 Aellis@worldbank.org      In Washington: Alejandra Viveros 1 (202) 473-4306 Aviveros@worldbank.org     ISTANBUL , October 4, 2009   –World Bank Group President Robert B. Zoellick and Managing Director   Ngozi N. Okonjo-Iweala met today with global business leaders in order to continue expanding economic opportunities for women worldwide. At an event co-hosted by the Hüsnü M. Özyeǧin Foundation in the margins of the World Bank-IMF Annual Meetings, the leaders discussed the impacts of the ongoing economic crisis on women, and announced new partnerships to support women around the world.   “At this time of economic turmoil, investing in women is critical,” said Mr. Zoellick at the meeting. “A host of studies suggest that putting earnings in women’s hands is the intelligent thing to do to aid recovery and long-term development. Women usually reinvest a much higher portion of their earnings in their families and communities than men, spreading wealth beyond themselves.” In the meeting of the global Private Sector Leaders Forum, comprised of 21 companies committed to promote women's economic empowerment, the leaders talked about the need to protect women from the adverse effects of the economic crisis, and shared experiences on successful programs designed to support women’s economic opportunities in key areas, such as targeted lending programs; inclusion and diversity initiatives to promote women into corporate leadership roles; and the training of business women in developing countries. Highlights of new partnerships and initiatives announced at the event include:   -             The Ozyegin Foundation and Goldman Sachs will expand the Goldman Sachs 10,000 Women program to Turkey. -             Boeing announced Forum member efforts to track and spend $2 billion over the next three years on goods and services from women-owned businesses in supply chains. -             Belcorp announced a partnership with the World Bank to train 50,000 women in financial literacy in Latin America. -             McKinsey presented their new research, “The Business of Empowering Women,” which maps out potential business sector contributions across women’s life cycles.     According to the participants, these initiatives are crucial as the world sets about rebuilding economies around the world. Research shows that during economic crises, girls are the most likely to be withdrawn from school and be put to work to help their families. And adult women face the risk of suffering disproportionately from the jobs lost since they constitute between 60 and 80 percent of export manufacturing workers in developing countries, a sector expected to shrink due to fall in demand.   “Women and girls need to be protected because they are suffering disproportionately from the economic recession,” said World Bank Managing Director, Ngozi N. Okonjo-Iweala. “But more importantly, women can be the engine for recovery. If done right, we can emerge from the crisis with healthier growth and be on a faster track to reducing poverty and boosting development."   Investing in improving women’s lives is critical,” The Private Sector Leaders Forum is a public-private partnership between the World Bank Group and some of the world's leading private sector companies. The partnership supports the World Bank Group’s Gender Action Plan to promote women's economic empowerment and gender equality. Launched in January 2008 during the World Economic Forum in Davos, the Forum is comprised of: Eduardo Belmont, President, Belcorp Lloyd Blankfein, Chairman and CEO, The Goldman Sachs Group, Inc. Henryka Bochniarz, Vice President of Boeing International and President of Boeing Central and Eastern Europe, Boeing Frank J. Brown, Dean, INSEAD John T. Chambers, Chairman & CEO, Cisco Kristin Clemet, Chair, Company: Norfund Samuel A. DiPiazza, CEO, Company: PricewaterhouseCoopers (PwC) Rick Goings, Chairman and Chief Executive, Tupperware Brands Corporation Kevin L. Kelly, CEO, Heidrick & Struggles Sung-joo Kim, Chairperson & CEO, Sungjoo Group/MCM Group Yang Lan, CEO, Sun Media Investment Holdings LTD Wendy Luhabe, Founding Member, Women Private Equity Fund Marilyn Carlson Nelson, Chair, Carlson Hüsnü M. Özyeǧin, President, Hüsnü M. Özyeǧin Foundation Lynn Taliento, Partner, Washington DC Office, McKinsey & Co. Elena Viyella de Paliza, President, Grupo Inter-Quimica, S.A. Monte Rio Power Corp. Nitin Paranjpe, CEO and MD of the Hindustan Unilever Ltd & Group Vice President of Unilever in South Asia Mark Parker, President & CEO, Nike James S. Turley, Chairman and CEO, Ernst & Young Mona Zulficar, Senior Partner and Chair of the Executive Committee, Shalakany Law Office   #       To get more information on the World Bank’s work on gender, please visit: www.worldbank.org/gender     

The Status of Projects in Execution (SOPE) Report for FY09 provides information on all International Bank and Rural Development (IBRD) and International Development Association (IDA) projects that were active as of June 30, 2009. The World Bank has issued a SOPE Report every year as an internal communication to the Board of Executive Directors. In accordance with the Bank's revised disclosure policy, since FY02, the SOPE report is available to the public. The report is intended to bridge the gap in information available to the public between the project appraisal document or program document, disclosed after the Bank approves a project, and the implementation completion report, disclosed after the project closes. In addition to the project progress description, the FY09 SOPE report contains project level comparisons of disbursement estimates and actual disbursements, and a table showing the loan/credit/grant amount and disbursements to date.

The Status of Projects in Execution (SOPE) report for FY09 provides information on all International Bank and Rural Development (IBRD)/International Development Association (IDA) projects that were active on June 30, 2009. The report is intended to bridge the gap in information available to the public between the project appraisal document, disclosed after the Bank approves a project, and the implementation completion report, disclosed after the project closes. In addition to the project progress description, the FY09 SOPE report contains project level comparisons of disbursement estimates and actual disbursements, and a table showing the loan/credit/grant amount and disbursements to date for all active projects.

The Status of Projects in Execution (SOPE) report for FY09 provides information on all International Bank and Rural Development (IBRD)/International Development Association (IDA) projects that were active on June 30, 2009. The report is intended to bridge the gap in information available to the public between the project appraisal document, disclosed after the Bank approves a project, and the implementation completion report, disclosed after the project closes. In addition to the project progress description, the FY09 SOPE report contains project level comparisons of disbursement estimates and actual disbursements, and a table showing the loan/credit/grant amount and disbursements to date for all active projects.

The Status of Projects in Execution (SOPE) report for FY09 provides information on all International Bank and Rural Development (IBRD)/International Development Association (IDA) projects that were active on June 30, 2009. The report is intended to bridge the gap in information available to the public between the project appraisal document, disclosed after the Bank approves a project, and the implementation completion report, disclosed after the project closes. In addition to the project progress description, the FY09 SOPE report contains project level comparisons of disbursement estimates and actual disbursements, and a table showing the loan/credit/grant amount and disbursements to date for all active projects.

The Status of Projects in Execution (SOPE) report for FY09 provides information on all International Bank and Rural Development (IBRD)/International Development Association (IDA) projects that were active on June 30, 2009. The report is intended to bridge the gap in information available to the public between the project appraisal document, disclosed after the Bank approves a project, and the implementation completion report, disclosed after the project closes. In addition to the project progress description, the FY09 SOPE report contains project level comparisons of disbursement estimates and actual disbursements, and a table showing the loan/credit/grant amount and disbursements to date forall active projects.

The Status of Projects in Execution (SOPE) report for FY09 provides information on all International Bank and Rural Development (IBRD)/International Development Association (IDA) projects that were active on June 30, 2009. The report is intended to bridge the gap in information available to the public between the project appraisal document, disclosed after the Bank approves a project, and the implementation completion report, disclosed after the project closes. In addition to the project progress description, the FY09 SOPE report contains project level comparisons of disbursement estimates and actual disbursements, and a table showing the loan/credit/grant amount and disbursements to date for all active projects.

The Status of Projects in Execution (SOPE) report for FY09 provides information on all International Bank and Rural Development (IBRD)/International Development Association (IDA) projects that were active on June 30, 2009. The report is intended to bridge the gap in information available to the public between the project appraisal document, disclosed after the Bank approves a project, and the implementation completion report, disclosed after the project closes. In addition to the project progress description, the FY09 SOPE report contains project level comparisons of disbursement estimates and actual disbursements, and a table showing the loan/credit/grant amount and disbursements to date for all active projects.