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  • International Monetary Fund  (76)
  • McKenzie, David  (72)
  • Energy Sector Management Assistance Program  (54)
  • Washington, D.C : The World Bank  (202)
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  • 1
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (12 pages)
    Parallel Title: Erscheint auch als McKenzie, David Is there Still a Role for Direct Government Support to Firms in Developing Countries?
    Keywords: Development Economics and Aid Effectiveness ; Firm Support ; Green Growth Agenda ; Impact Evaluation ; Industrial Economics ; Industrial Policy ; Industry ; Macroeconomic Policy ; Macroeconomics and Economic Growth ; Subsidized Loans
    Abstract: Should governments in developing countries directly support firms with policies such as grants, subsidized loans, and training and consulting programs, or should they instead just aim to enact sensible regulatory and macroeconomic policies and not attempt to engage in industrial policy While industrial policy has gained renewed attention in developed economies, it faces considerable skepticism in developing countries scarred by previous experiences and facing limited fiscal space. This paper discusses the rationale for government involvement, and then lessons from a recent research agenda in development economics on how to target these programs, on whether they induce firms to undertake additional activities, on avoiding political capture, and on how these interact with competition. This work shows that these policies can deliver some of their promised benefits, but that there is still much to learn and the need for systematic and serious attempts at prospective impact evaluation as new policies are launched
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  • 2
    Language: English
    Pages: 1 Online-Ressource (68 pages)
    Parallel Title: Erscheint auch als Iacovone, Leonardo Bayesian Impact Evaluation with Informative Priors: An Application to a Colombian Management and Export Improvement Program
    Keywords: Bayesian Impact Evaluation ; Competition Policy ; Competitiveness and Competition Policy ; Economic Theory and Research ; Export Competitiveness ; International Economics and Trade ; Macroeconomics and Economic Growth ; Management ; Prior Elicitation ; Private Sector Development ; Randomized Experiment ; Social Policy Evaluation Method
    Abstract: Policymakers often test expensive new programs on relatively small samples. Formally incorporating informative Bayesian priors into impact evaluation offers the promise to learn more from these experiments. A Colombian government program which aimed to increase exporting was trialed experimentally on 200 firms with this goal in mind. Priors were elicited from academics, policymakers, and firms. Contrary to these priors, frequentist estimation can not reject 0 effects in 2019, and finds some negative impacts in 2020. For binary outcomes like whether firms export, frequentist estimates are relatively precise, and Bayesian credible posterior intervals update to overlap almost completely with standard confidence intervals. For outcomes like increasing export variety, where the priors align with the data, the value of these priors is seen in posterior intervals that are considerably narrower than frequentist confidence intervals. Finally, for noisy outcomes like export value, posterior intervals show almost no updating from the priors, highlighting how uninformative the data are about such outcomes
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  • 3
    Language: English
    Pages: 1 Online-Ressource (53 pages)
    Parallel Title: Erscheint auch als Bertoli, Simone Migration, Families, and Counterfactual Families
    Keywords: Counterfactual Reasoning ; Family Formation ; Human Rights ; International Economics and Trade ; International Migration ; Law and Development ; Macroeconomics and Economic Growth ; Migrant Policy ; Migrants Families ; Migration ; Remittances ; Status Quo Bias
    Abstract: Migration changes how families form and dissolve, and how one should conceptualize the family. This has implications for thinking about how the migration decision is modelled when individuals are unable to picture the counterfactual families they may have. Differences in marital status can induce two otherwise identical individuals to make different migration decisions. It also has implications for attempts to causally estimate impacts of migration, when the family composition changes with the migration decision itself. This paper shows empirically that changing marital status after migration is widespread, and that the traditional model of a fixed family sending off a migrant who remains part of that same family only describes a minority of migrants moving from developing countries to the U.S. The authors draw out lessons from thinking about counterfactual families for empirical research and for migration policy
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  • 4
    Language: English
    Pages: 1 Online-Ressource (28 pages)
    Parallel Title: Erscheint auch als McKenzie, David Fears and Tears: Should More People be Moving within and from Developing Countries, and what Stops this Movement?
    Keywords: Attachment To Home ; Benefits of Urbanization ; Communities and Human Settlements ; Constraints That Limit Movement ; Economics of Migration ; Health, Nutrition and Population ; Human Migrations and Resettlements ; Internal Relocation ; International Economics and Trade ; International Migration ; Mental Health ; Migration Policy ; Psychological Uncertainty of Relocation ; Wealth and Wellbeing
    Abstract: Only one in seven of the world's population has ever migrated, despite the enormous gains in income possible through international and internal movement. This paper examines the evidence for different explanations given in the economics literature for this lack of movement and their implications for policy. Incorrect information about the gains to migrating, liquidity constraints that prevent poor people paying the costs of moving, and high costs of movement arising from both physical transportation costs and policy barriers all inhibit movement and offer scope for policy efforts to inform, provide credit, and lower moving costs. However, the economics literature has paid less attention to the fears people have when faced with the uncertainty of moving to a new place, and to the reasons behind the tears they shed when moving. While these tears reveal the attachment people have to particular places, this attachment is not fixed, but itself changes with migration experiences. Psychological factors such as a bias toward the status quo and the inability to picture what one is giving up by not migrating can result in people not moving, even when they would benefit from movement and are not constrained by finances or policy barriers from doing so. This suggests new avenues for policy interventions that can help individuals better visualize the opportunity costs of not moving, alleviate their uncertainties, and help shift their default behavior from not migrating
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  • 5
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (42 pages)
    Parallel Title: Erscheint auch als McKenzie, David Field and Natural Experiments in Migration
    Keywords: Difference-In-Differences ; Economic Growth ; Experimental Methods ; Instrumental Variables ; Migration Experiments ; Natural Experiment ; Regression Discontinuity ; Social Protection and Labor
    Abstract: Many research and policy questions surrounding migration are causal questions. What causes people to migrate? What are the consequences of migration for the migrants, their families, and their communities? Answering these questions requires dealing with the self-selection inherent in migration choices. Field and natural experiments offer methodological approaches that enable answering these causal questions. This paper discusses the key conceptual and logistical issues that face applied researchers when applying these methods to the study of migration, as well as providing guidance for practitioners and policymakers in assessing the credibility of causal claims. For randomized experiments, this includes providing a framework for thinking through what can be randomized; discussing key measurement and design issues that arise from issues such as migration being a rare event, and in measuring welfare changes when people change locations; as well as discussing ethical issues that can arise. The paper then outlines what makes for a good natural experiment in the context of migration, and discusses the implications of recent econometric work for the use of difference-indifferences, instrumental variables (and especially shift-share instruments), and regression discontinuity methods in migration research. A key lesson from this recent work is that it is not meaningful to talk about ?the? impact of migration, but rather impacts are likely to be heterogeneous, affecting both the validity and interpretation of causal estimates
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  • 6
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Economic and Sector Work Reports
    Keywords: Electric Power ; Energy ; Energy Finance ; Energy Policies and Economics ; Energy Privatization ; Energy Production and Transportation
    Abstract: Over the past two decades, the leveraging of private-sector expertise and commercial capital has helped turn around Georgia's power sector from near-complete operational and financial collapse to a sector that provides secure, affordable, and reliable electricity services to Georgian customers. However, the government may not be able to sustain the current model of financing of electricity sector investments given the expected public debt and fiscal impacts. This study develops recommendations for optimizing available financing for electricity generation and transmission investments while limiting the impacts on public finance needs and fiscal risks. To this end, the study presents: (i) a summary of the historical and required investment needs in the power generation and transmission segments; (ii) a review of the constraints to mobilizing private and commercial financing with limited impact on fiscal risks; and (iii) the development of a reform roadmap to enable sustainable financing of investments in electricity generation and transmission. The objectives of this study are to: (a) identify the obstacles to optimizing available financing for power generation and transmission investments while limiting the impacts on the public finances, and (b) present recommendations to overcoming those obstacles
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  • 7
    Language: English
    Pages: 1 Online-Ressource (33 pages)
    Parallel Title: Erscheint auch als Ana P., Cusolito Capacity Building as a Route to Export Market Expansion: A Six-Country Experiment in the Western Balkans
    Keywords: Broadcast and Media ; Consulting ; Customer Acquisition ; Digital Presence ; Export Competitiveness ; Export Market Expansion ; Information and Communication Technologies ; International Economics and Trade ; Marketing Training ; Private Sector Development ; Skills Development and Labor Force Training ; Small and Medium Enterprises (SME) ; Small and Medium Size Enterprises ; Training
    Abstract: The limited market size of many small emerging economies is a key constraint to the growth of innovative small and medium enterprises. Exporting offers a potential solution, but firms may struggle to locate and appeal to foreign buyers. A six-country randomized experiment was conducted with 225 firms in the Western Balkans to test the effectiveness of 30 hours of live group-based training and 5 hours of one-on-one remote consulting in overcoming these constraints. Treated firms used techniques such as search engine optimization and improved Facebook content to increase their digital presence and better reach foreign customers. A year later, positive and significant impacts are found on the number of customers, and a significant intensive margin increase in export sales. Qualitative interviews suggest this improvement came from a combination of sector-specific advice on market expansion, and through an encouragement effect which gave entrepreneurs the confidence to try new sales strategies
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  • 8
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Energy Sector Management Assistance Program Papers
    Keywords: Access To Finance ; Energy ; Finance and Financial Sector Development ; Gender ; Gender and Energy ; Solar Energy
    Abstract: The off-grid solar (OGS) sector has the potential to increase universal access to energy, alleviate poverty, support economic development, and increase gender equality. Nevertheless, although considerable advances have been made in closing gaps in access to energy, women's presence in the sector as consumers and active participants in OGS value chains remains limited. By adopting inclusive practices, governments, businesses, stakeholders, and market actors can unleash significant economic opportunities and hasten progress toward empowerment and equality and given the concessional investments that have been made in the sector, appropriate projects are an opportunity to pioneer dynamic, innovative ways to approach gender equality. This Gender Equality and Off-Grid Solar Operational Handbook responds to sectoral needs by providing operational guidance based on case studies demonstrating promising approaches to closing gender gaps in the OGS sector. The primary objective of the operational handbook is to increase the focus on off-grid energy and women's role in it at the consumer and enterprise levels. It seeks to increase productive uses of energy with a focus on women as workers in the sector, as farmers, and as business owners. It provides a practical overview of the OGS sector observed through an inclusive lens and highlights flagship projects, promising practices, and lessons learned from practitioners worldwide
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  • 9
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Energy Sector Management Assistance Program Papers
    Keywords: Electric Power ; Energy ; Energy Finance ; Power and Energy Conversion ; Renewable Energy ; Solar Energy
    Abstract: This book is packed with actionable information for decision-makers, and it is the World Bank's most comprehensive and authoritative publication on mini grids to date. The objective of this comprehensive knowledge package is to present road-tested options and examples from the leading edge of mini grid development. Decision-makers can draw on these options and examples to scale up mini grid deployment in their own contexts. By acknowledging different national approaches to mini grids and providing context-specific considerations for implementation, this suite of knowledge products offers an adaptive approach to helping countries achieve their electrification targets. The book is structured as follows. The overview presents a global market outlook for mini grids and introduces the 10 building blocks that need to be in place if mini grids are to be scaled up in any country. These building blocks also represent the 10 frontiers for innovation for the sector, where, with disruptive digital solutions across all 10 frontiers, the services offered to end users can be raised to a level substantially better than what would be possible with alternatives. In the Handbook, the terms "building blocks" and "frontiers" are used interchangeably. Chapters 1-10 present the 10 building blocks in detail and answer the question how do we scale up mini grid deployment to connect half a billion people by 2030 Chapter 11 is our call to action
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  • 10
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Economic Memorandum
    Keywords: Economic Crisis ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Fiscal Adjustment ; Fiscal and Monetary Policy ; Fiscal Framework ; Global Value Chains ; Global Value Chains and Business Clustering ; Macroeconomics and Economic Growth ; Private Sector Development
    Abstract: Turkey saw phenomenal growth in the 2000s as economic reforms ushered in FDI, GVCs expanded, and productivity increased. The early 2000s saw Turkey exit from major economic crisis with a strengthened fiscal framework, a strengthened, inflation-targeting mandate for the Central Bank, the establishment of an independent bank regulator, and importantly, a recently agreed Customs Union agreement with the EU. From 2001 to 2017, incomes per capita in Turkey doubled in real terms and tripled in current dollar terms. Turkey transformed from a lower-middle-income country (LMIC) at the start of the 2000s to very nearly reaching high-income status by 2014. This drove a rapid fall in poverty from above 30 percent to just 9 percent1. Very few other countries matched Turkey's growth over this period, and almost all of them were new EU member states
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  • 11
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Energy Sector Management Assistance Program Papers
    Keywords: Energy ; Energy and Environment ; Energy Policies and Economics ; Solar Energy
    Abstract: As the world's fastest-growing local energy technology, distributed photovoltaics (DPV) has upended the traditional paradigm of one-way power flow from the grid to consumers. Solar electricity systems located close to grid consumers known here as DPV empower consumers to produce electricity for themselves and for the grid. Thanks mainly to falling PV costs, DPV has become a viable way to meet energy needs for a widening array of consumers. Worldwide, installed capacity of DPV exploded from just a few megawatts (MW) in 2000 to 250 gigawatts (GW) in 2019; and it is forecast to exceed 500 GW by 2025. Poorly managed, DPV scale-up can then erode utility finances and interfere with grid operation. Yet, as explained in this report, well-managed DPV can benefit not only DPV owners but also contribute to reliable grid operation and a financially sound electricity sector. DPV offers multiple types of benefits relevant for low- and middle-income countries, especially when it can reduce electricity costs and widespread dependence on diesel generators. This report is an overview of DPV in different country contexts, and it is aimed at energy ministries and other decision-makers. Chapter 1 introduces key concepts and the recent status of the DPV market. It also highlights key potential value propositions of DPV for different stakeholders, including consumers, utilities, governments, and society as a whole. Chapter 2 presents nine specific ways in which distributed photovoltaics (PV) is or could be used to solve problems faced in low and middle-income country contexts
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  • 12
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Energy Sector Management Assistance Program Papers
    Keywords: Coal and Lignite ; Energy ; Energy and Environment ; Energy Demand ; Energy Policies and Economics ; Renewable Energy
    Abstract: Coal plants worldwide are grappling with low-capacity utilization levels and environmental issues; and have not only become unprofitable to utilities, but also uneconomical to customers. Developed countries with significant coal capacities such as Australia, Canada, Germany, the United Kingdom (UK), and the United States (US), are taking different approaches to wean away from coal. One such approach includes retiring and repurposing coal plants for various productive end uses, including solar plants, wind plants, data centers, and energy storage. Developing countries may gain much from the experience of their developed counterparts. Against this backdrop, the authors briefly examine the power situation in three developing countries, namely, South Africa, Chile, and India, based on their economic prowess within respective regions, predominance of coal in economic activities, and vulnerability to climate change, which make an interesting case for an analysis of repurposing coal plants in developing countries. This study presents the concepts and components of a cost-benefit analysis needed for a coal plant repurposing project
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  • 13
    Language: English
    Pages: 1 Online-Ressource (31 pages)
    Parallel Title: Erscheint auch als Print Version: Anderson, Stephen J What Prevents More Small Firms from Using Professional Business Services? An Information and Quality-Rating Experiment in Nigeria
    Abstract: Why do more small firms in developing countries not use the market for professional business services like accounting, marketing, and human resource specialists? Two key reasons may be that firms lack information about the availability of these services, and that they struggle to distinguish the quality of good versus bad providers. A brand recognition exercise finds that most small firms are unaware of most providers in this market, and a survey of service providers reveals that they largely rely on word-of-mouth and informal reputation mechanisms for acquiring customers. This study set up a business services marketplace that contains information about the different providers present in the market and used mystery shopper visits to develop a quality ratings system. A randomized experiment with more than 1,000 firms provided access to this marketplace to the treatment group and randomized whether firms received just information or also quality ratings. The provision of quality ratings information shifts small firms' preferences over which provider they would like to use, increasing the average quality rating of their preferred providers by 0.2 to 0.4 ratings points out of 5. However, neither the provision of information nor these quality ratings had any significant impact on the likelihood that small firms go on to hire a business service provider over the subsequent six months. The results suggest that alleviating information frictions alone is insufficient to increase usage of professional business services
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  • 14
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: Some 4 billion people still cook with traditional polluting fuels and technologies. The adverse development impacts from households continued use of polluting stove-and-fuel combinations are significant. Transitioning this population to modern cooking services (MECS) - part of United Nation (UN) sustainable development goal 7 - remains a significant challenge. This report presents the findings of a systematic review of published evidence on demand- and supply-side drivers of and barriers to transitioning populations to MECS. The barriers and drivers identified include, but are not limited to, education levels and wealth status; peer influence and trust in stove information source; competition with existing fuels and technologies; and program design features, including technology, training, and after sales support. The report provides key recommendations for overcoming the challenges that inhibit large-scale transition to MECS: (i) better focused programs that consider the socioeconomic realities of the target groups, such as financial mechanisms that address affordability constraints; (ii) incorporating measures that concurrently tackle existing stove technologies and current fuel use practices that programs aim to displace; and (iii) address awareness creation as a separate MECS intervention, with public sector investments on this component
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  • 15
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (49 pages)
    Parallel Title: Erscheint auch als Print Version: Batista, Catia Testing Classic Theories of Migration in the Lab
    Keywords: Destination Choice ; Employment and Unemployment ; International Economics and Trade ; International Migration ; Lab Experiment ; Migrant Selection ; Poverty Reduction ; Social Protections and Labor ; Wages, Compensation and Benefits
    Abstract: The predictions of different classic migration theories are tested by using incentivized laboratory experiments to investigate how potential migrants decide between working in different destinations. First, the authors test theories of income maximization, migrant skill-selection, and multi-destination choice as they vary migration costs, liquidity constraints, risk, social benefits, and incomplete information. The standard income maximization model of migration with selection on observed and unobserved skills leads to a much higher migration rate and more negative skill-selection than is obtained when migration decisions take place under more realistic assumptions. Second, these lab experiments are used to investigate whether the independence of irrelevant alternatives assumption holds. The results show that it holds for most people when decisions just involve wages, costs, and liquidity constraints. However, once the risk of unemployment and incomplete information is added, independence of irrelevant alternatives no longer holds for about 20 percent of the sample
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  • 16
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Energy Sector Management Assistance Program Papers
    Keywords: Energy ; Energy Resources Development ; Hydro Power ; Hydropower ; Renewable Energy ; Solar Energy ; Thermal Energy ; Windpower
    Abstract: Understanding the location and potential of renewable energy resources is a crucial pre-requisite to their utilization, and to scaling up clean and secure sources of electricity generation such as biomass, small hydropower, solar, and wind. However many countries do not have high quality, publicly available data on renewable energy resource potential and this limits the potential for informed policy development, including zoning guidance, transmission network planning, and price regulation or incentives. It also narrows the field of potential commercial developers, and raises the cost of undertaking preliminary site identification and financial analyses. This report draws on many years of experience within the World Bank Group and among other development partners in carrying out renewable energy resource assessment and mapping at the country level, in particular from 12 projects funded by the Energy Sector Management Assistance Program (ESMAP) under a major global initiative launched in 2012. The report's purpose is to explain, for a wide range of audiences, the importance of resource assessment and mapping, key steps and good practices, methodological issues, and potential sources for further advice and support
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  • 17
    Language: English
    Pages: 1 Online-Ressource (34 pages)
    Parallel Title: Erscheint auch als Print Version: Bah, Tijan L How has COVID-19 Affected the Intention to Migrate via the Backway to Europe and to a Neighboring African Country? Survey Evidence and a Salience Experiment in the Gambia
    Abstract: The COVID-19 pandemic has resulted in border closures in many countries and a sharp reduction in overall international mobility. However, this disruption of legal pathways to migration has raised concerns that potential migrants may turn to irregular migration routes as a substitute. This paper examines how the pandemic has changed intentions to migrate from The Gambia, the country with the highest pre-pandemic per-capita irregular migration rates in Africa. A large-scale panel survey conducted in 2019 and 2020 is used to compare changes in intentions to migrate to Europe and to neighboring Senegal. The data show that the pandemic has reduced the intention to migrate to both destinations, with approximately one-third of young males expressing less intention to migrate. The largest reductions in migration intentions are for individuals who were unsure of their intent pre-pandemic, and for poorer individuals who are no longer able to afford the costs of migrating at a time when these costs have increased and their remittance income has fallen. This paper also introduces the methodology of priming experiments to the study of migration intentions, by randomly varying the salience of the COVID-19 pandemic before eliciting intentions to migrate. There is no impact of this added salience, which appears to be because knowledge of the virus, while imperfect, was already enough to inform migration decisions. Nevertheless, despite these decreases in intentions, the overall desire to migrate the backway to Europe remains high, highlighting the need for legal migration pathways to support migrants and divert them from the risks of backway migration
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  • 18
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: This document offers guidelines for the preparation of feasibility studies for geothermal power projects in accordance with best industry practices. A geothermal feasibility study is a document, prepared by the project developer, that collects and presents information necessary to determine the technical and financial viability of a geothermal energy project and its compliance with environmental and social safeguards. In a broad sense, a feasibility study is a living document that evolves over the course of the project preparation phase. Such studies may also have specific purposes, such as to guide the internal business decisions of a project's owners or to demonstrate the economic viability of a project and its alignment with the country's energy strategy to public stakeholders. The guidelines presented here refer, specifically, to feasibility studies prepared for the purpose of securing financing, both debt and equity. A project developer prepares a feasibility study using reliable data so that financiers can assess the risks associated with a project. A feasibility study should identify the main risks and describe how they will be managed. A necessary condition for receiving funding is that financiers can assess project risks and their magnitude and whether these are in a range they are willing to accept. The guidelines offered in this document have two purposes. The first is to help project developers understand the required content and structure of a feasibility study. The second is to suggest how financing entities may assess whether a feasibility study is of adequate quality and scope. The topics addressed in a feasibility study for any power generation project are quite similar irrespective of the energy conversion technology. However, several aspects of geothermal projects set them apart from other power generation projects. For example, geothermal projects need significant investments in drilling relatively early in the project lifetime to reduce resource uncertainty. Even though the focus here is on geothermal projects for electricity production, most of the recommendations presented are equally valid for direct-use geothermal projects
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  • 19
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Energy Study
    Keywords: Electric Power ; Energy ; Energy Policies and Economics ; Energy Sector Regulation ; Power Generation ; Power Sector Reform ; Utilities
    Abstract: At the time of independence, in 1991, Ukraine had a monolithic state-run power sector. Its main concern was to transform the sector into a more efficient and competitive system that can be consistent with eventual European Union membership. A series of steps were taken in this direction - some unbundling of the sector; limited privatization; establishing a regulator; and creating a wholesale power market. Unfortunately, these reform steps did not achieve the reform objectives, and, at the time, there was no political consensus on the path forward. The changing regional political landscape, especially driven by the Crimea crisis, raised a fresh impetus for the reforms as the sector faced new concerns. Security of supply concerns, particularly over gas from Russia and limited access to high quality coal mines, were suddenly centerstage for a country where the inherited system had excess supply even at peak demand. Sector reforms were undertaken to align more closely with the second and third European Union energy packages. This case study follows Ukraine power sector's reform process and presents lessons learned that can be useful for other developing countries
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  • 20
    Language: English
    Pages: 1 Online-Ressource (40 pages)
    Parallel Title: Erscheint auch als Print Version: McKenzie, David Aspirations and Financial Decisions: Experimental Evidence from the Philippines
    Abstract: A randomized experiment among poor entrepreneurs tested the impact of exogenously inducing higher financial aspirations. In theory, raising aspirations could have positive effects by inducing higher effort, but could also reduce effort if unmet aspirations lead to frustration. Treatment resulted in more ambitious savings goals, but nearly all individuals fell far short of reaching these goals. Two years later, treated individuals had not saved more, and actually had lower borrowing and business investments. Treatment also reduced belief in the amount of control over one's life. Setting aspirations too high can lead to frustration, leading individuals to reduce their economic investments
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  • 21
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Financial Sector Assessment Program
    Keywords: Access To Finance ; Capital Markets and Capital Flows ; E-Finance and E-Security ; Finance and Financial Sector Development ; Financial Regulation and Supervision ; Financial Stability ; Financial Structures ; Macroprudential Policy ; Risk Assessment
    Abstract: A joint IMF and World Bank team conducted virtual missions to Georgia during January-February 2021 and May-June 2021, to update the findings of the Financial Sector Assessment Program (FSAP) conducted in 2014. This report summarizes the main findings of the mission, identifies key financial sector vulnerabilities and developmental issues, and provides policy recommendations
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  • 22
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Study
    Abstract: In the future, green hydrogen-hydrogen produced with renewable energy resources-could provide developing countries with a zero-carbon energy carrier to support national sustainable energy objectives, and it needs further consideration by policy makers and investors. Developing countries with good renewable energy resources could produce green hydrogen locally, generatingeconomic opportunities, and increasing energy security by reducing exposure to oil price volatility and supply disruptions. Support from development finance institutions and concessional funds could play an important role in deploying first-of-a-kind green hydrogen projects, accelerating the uptake of green hydrogen in developing countries, and increasing capacity and creating the necessary policy and regulatory enabling environment
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  • 23
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: Cooking with electricity could make a significant contribution to achieving Sustainable Development Goal No.7 by simultaneously enabling cost-effective access to modern energy and clean cooking, and proposing the steps needed to realize this opportunity. Five case studies are presented, comparing the current and projected costs to the consumer of a range of electric cooking (eCooking) solutions with current expenditures on cooking fuels. The findings show that eCooking can be a cost-effective option for some consumers in both off-grid and grid-connected settings and is likely to become increasingly viable in the near future. The use of energy efficient eCooking appliances can challenge the widespread perception that electricity is too expensive for cooking in developing country contexts. Innovative financing and delivery models are vital in making eCooking devices affordable. This will hinge upon private sector willingness-in particular solar companies, mini grid operators, and utilities-to adopt the technology as part of the services offered to customers. Unlocking these emerging opportunities could enable transformative impact for the 2.8 billion people still cooking with biomass. This will take concerted global effort to create an enabling environment that can facilitate the integration of electric cooking into electrification planning and renewable energy investments
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  • 24
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: Solar radiation is essentially a free resource available anywhere on Earth, to a greater or lesser extent. Solar PV power plants convert solar radiation into electricity. In the current era of global climate change, PV technology becomes an opportunity for countries and communities to transform or develop their energy infrastructure and step up their low-carbon energy transition. Until now, a global and harmonized assessment of country-level PV potential has not existed. This report aims to provide an aggregated and harmonized view on solar resource and PV power potential from the perspective of countries and regions, assuming a utility-scale installation of monofacial modules fixed mounted at an optimum angle, which has been the prevailing setup of a PV power plant
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  • 25
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: Cities are getting hotter as a result of growing urbanization and global climate change. The negative impacts of temperature increases are significant and touch nearly every aspect of urban life. Protecting populations from extreme heat is one of the key resiliency and sustainability challenges of the twenty- first century. Successfully implementing measures to cool cities will lead to many benefits, including for health, well-being, productivity, air quality, and energy systems. Urban cooling solutions can be deployed in the short term to help mitigate the risk of rising urban air temperatures. This primer and its companion report, Cool City Case Studies: Reducing Urban Heat, provide practical, actionable guidance and examples for implementers, policy makers, and planners tasked with mitigating urban heat impacts
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  • 26
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Study
    Abstract: Energy storage is particularly well suited to developing countries' power system needs. Developing countries frequently feature weak grids. These are characterized by poor security of supply, driven by a combination of insufficient, unreliable and inflexible generation capacity, underdeveloped or nonexistent grid infrastructure, a lack of adequate monitoring and controlequipment, and a lack of skilled human resources and adequate maintenance. In this context,energy storage can help enhance reliability. Deployed together with VRE, it can help displacecostly and polluting generation based on liquid fuels while increasing security of supply.Storage can also help defer and/or avoid the construction of new grid infrastructure
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  • 27
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: This compendium presents examples and analyses of space cooling interventions from across the world (from both developed and developing countries), with an aim to highlight the key insights learned. Interventions discussed in the compendium are meant to be options to inform strategies, implementation mechanisms, and road maps for countries that are seeking to address and increase sustainable space cooling. Interventions involve a combination of actions reducing cooling loads, serving cooling needs efficiently, and optimizing and controlling cooling loads. While each country will chart its own pathway toward sustainable space cooling, the need for a multipronged approach consistently applies. The best outcomes will emerge from a multipronged approach that incorporates information, policy and regulatory measures, clear leadership, financing and implementation models, training, and research and development. The objectives of the primer are to introduce a broad audience, including practitioners in different fields, to space cooling and to help initiate and advance sustainable space cooling into policy discussions and investment considerations in developing countries. The primer explains the foundational aspects of space cooling, makes the case that sustainable space cooling achieved through low-energy and low-climate-impact pathways is a critical priority, and emphasizes an integrative approach as essential to addressing space cooling sustainably
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  • 28
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: Energy efficiency is among the cheapest, cleanest, and most widely available of energy resources. Improved energy efficiency provides opportunities to sustainably expand energy services and support development and economic growth, contributing to higher living standards, as well as reducing greenhouse gas emissions. In developing countries, where demand for energy is growing rapidly, the potential for energy efficiency improvements is significant, particularly in the residential sector. The purpose of this guide is to raise awareness of behavioral approaches to achieving development outcomes, demonstrate the role that behavioral sciences can play in promoting energy efficiency, and provide guidance on how to integrate behavior change approaches into projects
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  • 29
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: This report elucidates the role of financial innovation in the off-grid solar sector and provides a roadmap for practitioners, financiers, and entrepreneurs navigating capital raises for companies active in the sector. It examines a full range of established and frontier financing options. It illustrates that some technology-enabled financial innovations, such as peer-to-peer business lending, are already playing an important role in the sector. It was prepared by the World Bank Group and the Cambridge Centre for Alternative Finance, the University of Cambridge Judge Business School, with support from ESMAP
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  • 30
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy Notes
    Abstract: This note provides a set of high-level recommendations that can guide national regulatory and supervisory responses to the COVID-19 (coronavirus) pandemic and offers an overview of measures taken across jurisdictions to date. The banking sector plays a critical role in mitigating the unprecedented macroeconomic and financial shock caused by the pandemic. Timely, targeted and well-designed regulatory and supervisory actions are essential to maintain the provision of critical financial services, particularly to households and firms that are affected most, while mitigating financial risks, maintaining balance sheet transparency, and preserving longer-term financial policy credibility. In this context, authorities should employ the embedded flexibility of regulatory, supervisory, and accounting frameworks, and encourage judicious loan restructuring while continuing to uphold minimum prudential standards. Standard-setting bodies have issued guidance to support national authorities in their efforts to provide effective, sound, and well-coordinated policy measures
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  • 31
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: How we guide progress toward achieving access to modern-energy cooking solutions for all is more critical than ever before. To date, measurements of access have focused primarily on fuel penetration, overlooking many of the contextual factors that shape users' adoption of stoves and fuels. Over the past decade, much attention has focused on expanding access to clean cooking solutions, defined by the technical attributes of combustion and heat-transfer efficiency and emissions. However, the 2020 Tracking SDG 7: The Energy Progress Report finds that the annual increase in access to clean cooking fuels and technologies between 2010 and 2018 averaged just 0.8 percentage points. In Sub-Saharan Africa, population growth outpaced the annual growth in access. Most progress was in urban areas, with rural areas continuing to fall behind. Clearly, without a more complete understanding of the local context of cooking 'including users' cooking experience, their physical cooking environment, and the markets and energy ecosystems in which they live-the uptake and sustained use of the stove technology-and-fuel solutions available today will remain limited
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  • 32
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: The call for urgent action to address climate change and develop more sustainable modes of energy delivery is generally recognized. It is also apparent that batteries, both in the transportation and the power sectors, need to play a predominant role if the global community is to limit global warming to two degrees Celsius. Simply put, nations' efforts will focus largely on electrifying transportation systems to be supported by power systems that deliver low carbon energy, using a range of renewable technologies. Stationary batteries will play a critical role in not only providing direct energy services, but also in acting as backup providers when renewable resources are only able to provide intermittent services, dependent on local climatic and other circumstances. The objective of this report is to provide an overview of the state of affairs with regards to reuse and recycling of lithium-ion or Li-ion batteries, in order to assess if and to what extent developing countries can and should play a larger role in this burgeoning area
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  • 33
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: Developed in the context of the rapidly growing demand for space cooling and the critical need for access to affordable space cooling solutions, this primer aims to introduce a broad audience to the topic of space cooling and its key considerations, and to help initiate and advance sustainable space cooling into policy discussions and investment considerations in developing countries. The global energy use for space cooling is projected to grow three-fold between 2016 and 2050, with a majority of this growth occurring in developing countries. While the growing need for space cooling is in alignment with the developmental needs of countries, this growth must be addressed with carefully designed strategies and solutions to avoid severe economic, power system, and environmental impacts. Underscoring an integrative approach to space cooling, the primer provides with an overview of strategies that reduce the cooling loads of buildings by applying building efficiency measures that enhance thermal performance, serve the cooling load as efficiently as possible through appropriate choice of cooling solution and utilization of most efficient cooling equipment available, and optimize the performance of cooling through their operation. Discussing the barriers to implement sustainable space cooling, the primer also presents demonstrated space cooling intervention strategies that can help overcome these barriers, with over 100 real-world examples and implementation considerations included in the Compendium
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  • 34
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Financial Sector Assessment Program
    Abstract: The BSP's regulatory framework is broadly effective for the size and complexity of the Philippine banking system, but legislative gaps continue to hinder effective supervision of banks. The BSP has a well-resourced, experienced and highly committed staffing complement, but there is an ongoing need to develop and maintain adequate expertise in certain complex areas (e.g. risk modelling). Since the FSAP in 2002, and the assessment update in 2010, the BSP has made significant progress in enhancing the regulatory framework in a number of areas. But significant weaknesses in the legislative framework, arising notably from the bank secrecy laws and the lack of power for the BSP to supervise the parent companies and their affiliates of banking groups, present a material hindrance to effective supervision
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  • 35
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: This report integrates primary and secondary research with COM-B (Capability, Opportunity, Motivation - Behavior) theoretical framework for understanding and effecting behavior change and consumer decisions on usage of efficient biomass stoves. Organized around seven themes - awareness, consumer finance, trust, access, understanding, product features, and gender - the report presents the outcomes of stakeholder interviews, consumer focus groups, and household surveys aimed at gaining a deeper understanding of the factors that determine perception of improved stoves and drive consumer decisions. It then proposes behavioral levers that the authors believe may increase the likelihood of uptake of efficient stoves and that can be ultimately used to maximize effectiveness of marketing by the private sector, design awareness campaigns, and sharpen the focus of development projects. The report primarily focuses on issues around improvement of biomass fuel usage efficiency and does not directly consider alternate cooking solutions, which might merit a more comprehensive review
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  • 36
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: The Debt Sustainability Analysis (DSA) indicates that Honduras stands at low risk of debt distress both for public external debt and overall debt, which represents an upgrade from the 2018 DSA, where risk of debt distress was assessed as moderate. The DSA was undertaken under the revised debt-sustainability framework for low income countries (LIC DSF), whereby Honduras's debt carrying capacity was upgraded from medium to strong. Changes in the debt-sustainability framework have contributed to the risk of debt distress improvement. A proven record of compliance with the Fiscal Responsibility Law (FRL) and solid macroeconomic conditions also contributed to rate Honduras' risk of debt distress as low. Going forward, adherence to the FRL and institutional reforms to boost inclusive growth and increase the economy's potential are critical to maintain debt sustainability
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  • 37
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: Madagascar is assessed at low risk of external debt distress. This marks a change from moderate risk in the June 2018 DSA, despite a broader definition of external debt, and reflects an upgrade in Madagascar's debt carrying capacity rather than a change in the debt path. Under the baseline, external public and publicly guaranteed (PPG) debt is well below applicable thresholds. Stress tests do not breach the threshold applicable to countries with medium debt-carrying capacity. Total (external plus domestic) PPG debt is below the benchmark under the baseline, but growth shocks drive the present value of the ratio of debt to GDP above the benchmark. Shocks could also introduce liquidity problems, as the debt-service to revenue ratio could exceed 100 percent over the long term. The overall rating, of moderate debt distress, remains consistent with the 2018 DSA. These assessments continue to be supportive of Madagascar's current plans to scale up its borrowing to meet its investment needs, though other factors are also critical
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  • 38
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Financial Sector Assessment Program
    Abstract: The Thai insurance sector is a relatively small but growing part of the country's financial services industry. Insurance sector assets have grown from 10 percent of gross domestic product (GDP) in 2006 to over 22 percent of GDP in 2016, constituting 9 percent of total financial industry assets. Similarly, between 2008 and 2017, gross premiums written have grown at an average annual rate of approximately 16.9 percent, substantially above nominal GDP growth of 9.9 percent during the same period. As a result, the insurance penetration ratio (the ratio of premiums written to GDP) has gradually increased from 3.63 percent in 2008 to 5.39 percent in 2017. This paper provides an assessment of significant regulatory and supervisory practices in the insurance sector of Thailand. The assessment was conducted by Charles Michael Grist, Financial Sector Consultant, the World Bank Group, and A. Thomas Finnell, Financial Sector Consultant to the International Monetary Fund, from February 6 until February 22, 2019. The last review of the Thai insurance sector was conducted as part of an April 2008 Financial Sector Assessment Program Review (FSAP), but this review did not include a detailed assessment against the ICPs issued by the International Association of Insurance Supervisors (IAIS)
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  • 39
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Financial Sector Assessment Program
    Abstract: This is an assessment of the Securities and Exchange Commission of Thailand (SEC) and, secondarily, of certain self-regulatory organizations (SRO) that participate in the regulation of the capital markets of Thailand. This assessment was conducted in February, 2019 as part of the Financial Sector Assessment Program (FSAP) conducted jointly by the International Monetary Fund (IMF) and the World Bank. The financial sector of Thailand shows strong growth and is dominated by banks, which are a major force in other components of the financial sector through separately licensed subsidiaries. The financial system's assets are equal to 259 percent of GDP (February 2018), with Thailand's 30 commercial banks (including 15 foreign branches or subsidiaries) holding 46 percent of financial sector assets and eight specialized (state-owned) financial institutions (SFIs) holding 15 percent. The three largest commercial banks account for 46 percent of banking sector assets, lower than that of its peer comparators. Banking sector growth, however, has been stagnant, growing to 156 percent of GDP (2018) from 153 percent (2012). Other segments of the financial sector have experienced higher growth in recent years. The market capitalization of the SET has grown to 104 percent of GDP (up from 67 percent of GDP in 2005, and from 37 percent of GDP in 2008). Insurance sector assets have grown from 10 percent of GDP in 2006 to over 22 percent of GDP in 2016
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  • 40
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: Guinea is at moderate risk of external debt distress with some space to absorb shocks. All external debt burden indicators under the baseline scenario lie below their policy-dependent thresholds. Stress tests suggest that debt vulnerabilities will increase if adverse shocks materialize. Under the most extreme stress tests, all solvency and liquidity indicators breach their thresholds for prolonged periods. The overall risk of public debt distress is also assessed to be moderate, with the application of judgement regarding a brief and marginal breach for the PV of total public debt to GDP ratio over 2019-20, reflecting the one-off impact of the recapitalization of the central bank. Guinea's external and public debt position at end-2018 improved compared to the December 2018 DSA, owing to upward revisions of growth estimates in 2016-17, lower-than-anticipated external loan disbursements in 2018, and a stable exchange rate in 2018. A prudent external borrowing strategy aimed at maximizing the concessionally of new debt, limiting non-concessional loans to programmed amounts and strengthening debt management will be key to preserving medium-term debt sustainability
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  • 41
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: Mali remains at moderate risk of external debt distress. This rating is unchanged from the previous analysis and consistent with the May 2018 Staff Report (IMF Country Report/18/141). All the projected external debt burden indicators remain below their thresholds under the baseline. However, the ratio of the external debt service to exports exceeds its threshold in the case of an extreme shock to exports under a customized scenario that incorporates 2 percentage points of GDP larger fiscal deficits over 2019 to 2023 than the baseline.1 The baseline scenario assumes improved fiscal policies and achievement of the WAEMU fiscal deficit convergence criteria by 2019. As illustrated in the customized scenario, continued shortfall in domestic revenue mobilization and a deterioration in security conditions will result in a weakened fiscal position and increase the likelihood of debt distress. Mali's main challenge continues to be ensuring macroeconomic stability while protecting social and investment spending and providing for growing security spending and large development needs. To maintain debt at moderate risk rating, it is essential that the authorities continue their efforts to mobilize domestic revenue and implement reforms. Debt management capacity should be strengthened while deepening structural reforms to diversify the exports base
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  • 42
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: Chad's risks of external and overall debt distress are high but have nonetheless declined in the past year. All but one external debt sustainability indicators are below their respective thresholds from 2019 onwards. The debt-to-revenue ratio moderately breaches its threshold under the baseline scenario. Overall, total public debt vulnerabilities are elevated although the present value (PV) of the public debt-to-GDP ratio remains on a downward trajectory. The debt sustainability analysis is based on projected continued fiscal prudence and an increase in non-oil revenues. Following the restructuring in 2018, the new Glencore debt contract has helped contain the impact of low oil prices on debt sustainability, as it allows for lower debt service when oil prices are lower
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  • 43
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: Based on an assessment of external public debt indicators and given the continued buildup of external arrears, the Republic of Congo is classified as "in debt distress". Moreover, despite the recent restructuring agreement with China, public debt remains unsustainable with the net present value of external debt in percent of gross domestic product (GDP) and the external debt service-to-revenue ratios projected to remain above their indicative thresholds in the medium ter
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  • 44
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: For many years, offshore wind was the expensive cousin of onshore wind with generation costs in the range of USD 150 to USD 200 per megawatt hour (MWh). This changed dramatically between 2016 and 2017 when a series of competitive tenders in Europe witnessed strike prices fall below USD 100/MWh, culminating in projects that bid into merchant markets with no subsidy at all. Prices have continued to drop thanks to technological improvements, economies of scale, maturation of supply chains, better procurement strategies, and the efforts of large and sophisticated project developers, including several from the utility and oil and gas sectors. However, to date the offshore wind industry has remained largely confined to Europe and China. As prices continue to drop, offshore wind is increasingly gaining traction in emerging markets. Projections suggest that offshore wind will add between 7 to 11 gigawatts (GW) per year from 2019 to 2024, reaching between 15 to 21 GW/year from 2025 to 2030. While much of the growth is expected in Europe, China, and new Organization for Economic Co-operation and Development (OECD) markets including Japan, South Korea, and the United States, there is ample potential for developing countries to ride on this momentum and ramp up their local offshore markets. This report presents eight case studies on the technical potential for offshore wind in Brazil, India, Morocco, the Philippines, South Africa, Sri Lanka, Turkey, and Vietnam (here, technical potential is calculated on the basis of wind speed and water depth). Considering offshore areas within 200 kilometers (km) of the coast, 3 these eight countries have a total technical potential of approximately 3.1 terawatts, including 1,016 GW of fixed capacity and 2,066 GW of floating capacity
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  • 45
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: Ulaanbaatar's heating sector is struggling to meet accelerating demand growth. Over the past twodecades, population growth in Mongolia's capital city has increased exponentially, mainly due to rapid rural-to-urban migration, and it is expected to reach 1.9 million by 2035. With urbanization and economic growth, new buildings are being built at a rapid pace, requiring connections to the district heating (DH) network. Over the next decade, it is projected that urban heating demand will grow by an average annual rate of 5-6 percent. At the same time, the DH network-once Ulaanbaatar's principal heat supply-is deteriorating. About two-fifths of the population (some 120,000 households) are supplied from the DH network. However, the system is dilapidated, resulting from a lack of investments for needed rehabilitation and upgrading in past decades. Owing to high water losses, the quality of replenishment water has not been adequately maintained to prevent corrosion; thus, piping is typically quite old and corroded. The total length of transmission pipelines is about 130 km (dual pipe) with pipe diameters in a range of 200-1,200 mm. It is estimated that 50 percent of the transmission pipelines are in poor technical condition, urgently requiring replacement. The secondary (distribution) network, with a total trench length of about 226 km, has a variety of owners and operators and also requires major rehabilitation and replacement. Tariffs, which are set below cost-recovery levels, exacerbate the sector's financial distress and contribute to its decay. Despite recent adjustments, consumer tariffs remain lower than the cost-recovery level, requiring state subsidies for sector operators and cross-subsidies at various points along the entire heat supply chain. Tariff-related cost allocations between electricity and heat customers lead to indirect subsidies for residential DH customers. The average DH price of 0.8 US Dollars per GJ (2014 figure) is approximately 10-20 times lower than in such Eastern European cities as Vilnius or Warsaw, and even lower than in other European cities. The sector's 2013 Master Plan estimated that a 130 percent increase in the heat tariff would be needed to achieve full cost recovery. The situation has changed little in recent years
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  • 46
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: Although geothermal energy is globally recognized as a clean and reliable source of heat and electric power its development can inadvertently lead to adverse outcomes that disproportionately disadvantage women. Based on good practices and lessons learned, this report introduces ways that geothermal projects can mitigate risks and pursue opportunities to address gender gaps within the project cycle. It outlines the risks and opportunities associated with (i) changes in land and natural resource use, (ii) changes to employment and economic patterns, and (iii) changes to environment and health. Beyond mapping risks and opportunities, the report makes the case for focusing on the gaps between men and women from the project outset. Once gaps, key stakeholder risks, and additional development opportunities have been identified, project teams have an opportunity to address them through actions. The report provides guidance on how to include specific monitoring and evaluation indicators in the results framework for geothermal projects that measure progress toward closing gaps between men and women. In addition, the report contains an overview of guidance and toolkits developed, selected global case studies, and other resources so that project teams, governments, and geothermal developers have additional guidance on hand to prepare more equitable projects
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  • 47
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: This technical guide is the fourth in a series of four technical guides on variable renewable energy (VRE) grid integration produced by the Energy Sector Management Assistance Program (ESMAP) of the World Bank and the Global Sustainable Electricity Partnership (GSEP). It provides guidance on the role and benefits of forecasting as a cost-effective operational solution to manage the uncertainty of VRE generation and facilitate the integration of larger shares of these resources in the energy mix. The guide focuses primarily on the types of forecasting methods and how physical and statistical models are used for developing short- to long-term forecasts. Technological advances in weather forecasting, together with better data on historical performance of renewable energy, allow significantly improved forecasting accuracy of VRE generation, which results in more efficient utilization. Examples from developing countries illustrate how the approach to forecasting varies depending on the country's electricity market structure and requirements
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  • 48
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: This technical guide is the first in a series of four technical guides on variable renewable energy (VRE) grid integration produced by the Energy Sector Management Assistance Program (ESMAP) of the World Bank and the Global Sustainable Electricity Partnership (GSEP). It provides a general overview of the intrinsic characteristics of VRE generation, mainly solar PV and wind, what the main challenges are along with some recommendations for VRE technical specifications, applicable standards, and essential testing. The main focus of the document presents a detailed outline of the essential requirements for VRE integration into the power grid. The requirements differ for different levels of penetration but would require fundamental grid compliance requirements that must be reflected in any grid. This document provides these requirements along with recommendations of advanced VRE integration requirements that could be reflected in the power system operations with these VRE resources. The compliance with the technical requirements where applicable is validated through extensive series of interconnection studies which are further elaborated in "STUDIES FOR GRID CONNECTION OF VARIABLE RENEWABLE ENERGY GENERATION PLANTS - Technical Guide 3"
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  • 49
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: With some 19 million US Dollars (1.6 percent of GDP) in unresolved arrears to official bilateral creditors, Grenada remains in external public debt distress. However, debt appears sustainable reflecting favorable projected debt dynamics from substantial fiscal surpluses that are supported by the Fiscal Responsibility Law (FRL). Total public debt has declined from 108 percent of GDP in 2013 to 63.5 percent of GDP in 2018, with external public debt amounting to 44.5 percent of GDP. This reduction was made possible through fiscal consolidation that has been anchored by the FRL, robust economic growth, and a restructuring of Grenada's public debt. Going forward, continued adherence to the FRL and regularization of arrears will be needed to upgrade the risk rating. Debt should be further reduced and kept at levels needed to withstand the existing vulnerabilities to external shocks and natural disasters
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  • 50
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: Togo's risk of external debt distress continues to be moderate, while the overall risk of debt distress is high-unchanged from the previous Debt Sustainability Analysis (DSA) published in December 2018. While the mechanical results point to a low risk of external debt distress, judgment was applied given vulnerabilities arising from high domestic debt, which could, for example, likely lead to a reprofiling operation that would lead to an increase in external debt. Togo's public debt is on a downward trajectory despite an increase in 2018 compared with 2017. Togo's high public debt is the result of, among other factors, high deficits, contingent liabilities, and accumulated arrears. There is very little space to absorb shocks on total public debt. Baseline projections show that Togo's PV of total PPG debt (external plus domestic)-to-GDP ratio will decline below the new debt distress benchmark of 55 percent starting in 2023, down from 72 percent in 2018-with the bulk constituting domestic debt obligations. This analysis highlights the need for sustained fiscal consolidation, improved debt management, and strong macroeconomic policies to reduce the public debt to prudent levels over the medium term
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  • 51
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: Lao P.D.R.'s risks of external and overall debt distress continue to be assessed as high. Under the revised low-income country debt sustainability framework (LIC DSF), its debt carrying capacity has deteriorated and most external and total public debt indicators breach their respective indicative thresholds and benchmarks under the baseline scenarios. External debt indicators are most vulnerable to shocks to exports and depreciation of the currency. Public and external debt indicators are most sensitive to the contingent liabilities shock, while recent natural disasters underscore the need for strengthening buffers. The low level of reserves adds to these vulnerabilities. Factors, such as the large share of electricity export earnings under long-term intergovernmental power purchase agreements, and a strong and growing electricity exports market help mitigate risks, keeping the debt outlook sustainable. Market access is being maintained, around 65 percent of external debt is concessional, and the stock of expenditure arrears is declining. Rebuilding fiscal space, adopting clear guidelines for sovereign debt issuance and guarantees, assessing risks from contingent liabilities, and improving debt management are immediate priorities. Assessing and targeting infrastructure projects with high growth and social returns and financing these with concessional financing would benefit debt sustainability. Strengthening the business environment and governance, would improve the investment outlook, help diversify and make growth more inclusive. Increasing the export base, continuing to maximize the proportion of concessional loans and improving primary deficits would help to keep the debt burden contained
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  • 52
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Financial Sector Assessment Program
    Abstract: A joint IMF-World Bank mission visited Thailand from November 1 to 16, 2018, and February 6 to 22, 2019, to update the findings of the Financial Sector Assessment Program (FSAP) conducted in 2008. This report summarizes the main findings of the mission, identifies key financial sector vulnerabilities, and provides policy recommendations
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  • 53
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Financial Sector Assessment Program
    Abstract: This assessment of the implementation of the BCP by the BOT is part of the FSAP undertaken by the IMF and the World Bank. The assessment was performed October 25 through November 16, 2018 and is based on the regulatory and supervisory framework in place at the time of this visit. Compliance was measured against standards issued by the Basel Committee on Banking Supervision (BCBS) in 2012.1 Since the previous assessment, conducted in 2008, the BCP standards have been revised and reflect the international consensus for minimum standards based on global experience. The view is that supervision should be based on a process involving well-defined requirements, supervisory onsite and offsite determination of compliance with requirements and risk assessments, and a strong program of enforcement and corrective action and sanctions. The 2012 revision placed increased emphasis on corporate governance, on supervisors conducting reviews to determine compliance with regulatory requirements, and on thoroughly understanding the risk profile of banks and the banking system. The assessors appreciated the high quality of cooperation received from the authorities. The mission extends its thanks to the staff of the BOT for its excellent cooperation and hospitality. The BOT provided a comprehensive and detailed self-assessment and granted access to supervisory manuals, onsite inspection reports, monitoring reports, and risk assessments
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  • 54
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    Series Statement: World Bank E-Library Archive
    Series Statement: Financial Sector Assessment Program
    Abstract: This report contains the assessments of BAHTNET and TSD based on the PFMI. The assessment was undertaken in the context of the International Monetary Fund and World Bank Financial Sector Assessment Program (FSAP) of Thailand in November 2018. The assessors were Gynedi Srinivas and Dorothee Delort of the World Bank's Payment Systems Development Group. The assessors would like to thank the Thai counterparts for their excellent cooperation and generous hospitality. The objective of the assessment was to identify potential risks related to the FMIs that may affect financial stability. While safe and efficient FMIs contribute to maintaining and promoting financial stability and economic growth, they may also concentrate risk. If not properly managed, FMIs can be sources of financial shocks, such as liquidity dislocations and credit losses, or a major channel through which these shocks are transmitted across domestic and international financial markets. The scope of the assessment includes two main FMIs as well as the authorities in Thailand responsible for regulation, supervision, and oversight of FMIs. BAHTNET and TSD are assessed against all relevant principles of the PFMI. The authorities, the BOT and the SEC, are assessed using the responsibilities for authorities of FMIs
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  • 55
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    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: Approximately 1.2 billion ...
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  • 56
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: The objective of this document is to provide guidance for the development and implementation of a national energy efficiency (EE) investment program for public buildings in the Kyrgyz Republic. It begins by assessing the country's EE potential; analyzing its institutional, legislative and financial frameworks; reviewing the market for EE supply and services; and summarizing current barriers to EE implementation in the public sector. It then provides two forward-looking chapters: a vision 2040 list of medium- and long-term targets for a sustainable, climate-resilient, safe, and low-carbon stock of public buildings in the Kyrgyz Republic by 2040, with reference to the United Nation (UN) sustainable development goals and the draft concept for the development of the fuel and energy sector of the Kyrgyz Republic until 2040; and a roadmap and accompanying catalogue of recommended measures that sets out the steps and timeframe necessary to: improve the political and regulatory framework for EE; strengthen the delivery capacities of relevant institutions and sectoral stakeholders; and scale up the nation's EE investments in the country
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  • 57
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: This technical guide is the third in a series of four technical guides on variable renewable energy (VRE) grid integration produced by the Energy Sector Management Assistance Program (ESMAP) of the World Bank and the Global Sustainable Electricity Partnership (GSEP). It provides guidance on how to approach power system studies, which are required to ensure the stable interconnection of utility-scale VRE plants into the grid. The report, which focuses on the transmission grid, identifies the steps the grid operator and the VRE resource entity need to follow to integrate these resources safely and effectively. It shows how power system studies verify that adequate reserves and system resources exist or what additional measures are required to reliably serve demand under credible contingencies, such as the loss of a generating unit, a transformer, or a transmission facility. The requirements for integration are elaborated in Technical Guide 1 (Grid Integration Requirements for Variable Renewable Energy)
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  • 58
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: Nepal's risk of external debt distress remains low. Under the revised IMF/World Bank Debt Sustainability Analysis Framework for Low Income Countries (LIC-DSF), all debt and debt service ratios are projected to remain below relevant indicative threshold values. Following a prolonged decline, to 25 percent of GDP in mid-2015, the sum of external and domestic public debt rose to 30 percent of GDP in mid-2018. A further rise in total public debt is projected, to about 35 percent of GDP in the medium term and about 48 percent of GDP in the long term, owing to continuing fiscal and current account deficits, as the authorities implement fiscal federalism and aim to put the economy on a higher growth path. Stress tests suggest that debt burden indicators are vulnerable to growth/exports shocks and natural disasters. This underscores the importance of implementing sound macro-economic policies. Efforts to improve the business climate and competitiveness through high-quality public investment and structural reforms would support growth and expand foreign exchange income streams
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  • 59
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: Cabo Verde's risk of external and overall debt distress is rated "high" as in the previous debt sustainability analysis (DSA). The present value (PV) of public and publicly-guaranteed (PPG) external debt-to-GDP ratio breaches its threshold in 2019-2022 under the baseline and protractedly under stress test scenarios. The PV of total public debt-to-GDP ratio is projected to recede below its threshold from 2026 under the baseline and breaches its prescribed limit under stress test scenarios. The debt sustainability assessment is predicated on sustained fiscal consolidation and successful restructuring of state-owned enterprises (SOEs). Prudent borrowing policies and a strengthened debt management strategy are critical to containing debt accumulation. In view of Cabo Verde's vulnerability to exogenous shocks, growth-enhancing structural reforms remain critical to bringing public debt to sustainable levels
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  • 60
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: The Union of Comoros remains at moderate risk of external debt distress, but its space to absorb shocks is "limited." All debt burden indicators exhibit a continual upward trend, with the PV of debt-to-export approaching its threshold at the end of the assessment horizon (2029) under the baseline scenario. (Thresholds reflect "medium" capacity to carry debt). The reduced space to absorb shocks reflects the taking on of a large new loan, a downward revision of projected exports in line with lower export prices and impacts of Cyclone Kenneth on debt accumulation. Shock scenarios indicate vulnerability to a deterioration of export performance, natural disasters, and exchange rate instability. Comoros' overall risk of debt distress remains moderate, given that domestic debt is expected to remain minimal. The authorities need to strengthen policies to improve macroeconomic performance including by making faster progress on domestic resource mobilization and broadening the export base. The authorities should proceed cautiously on taking up any new debt and may wish to largely avoid new non-concessional debt
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  • 61
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: An updated debt sustainability analysis (DSA) is prepared using the revised Low-income Countries Debt Sustainability Framework (LIC DSF) to assess Zambia's current debt situation. Debt burden indicators have deteriorated considerably since the October 2017 DSA mainly on account of large fiscal deficits as the authorities made use of available financing to boost infrastructure spending, weaker growth and exchange rate, and a worsened external environment (terms of trade and financial conditions). Rising debt service costs (both externally and domestically) and a large pipeline of contracted and to-be-disbursed loans place Zambia's public debt on an unsustainable path under current policies while budget expenditure arrears have risen. Zambia's debt-carrying capacity has also weakened with its FX reserves' import coverage declining from 4.7 months in 2015 to 1.7 months in May 2019. All four external debt burden indicators breach their indicative thresholds, three of them by large margins and throughout the medium-term under the baseline scenario. Total public debt is projected to increase somewhatin the near-term as, under unchanged policies, fiscal deficits remain large, before gradually declining as large debt-financed public projects are completed and forced fiscal adjustment occurs given financing constraints. As a frontier market, Zambia's high gross financing needs (peaking at 19 percent of GDP over the next three years), combined with wide EMBI spreads (1,575 basis points on June 11, 2019) and high domestic borrowing costs, expose it to significant market-financing risks. Despite the challenging fiscal situation, Zambia has remained current on all its debt obligations both domestic and external, and has not experienced a debt distress event. The authorities remain committed to prioritizing debt service payments and have identified resources to continue meeting debt obligations in the near-term. However, staff assess the risk of external and overall public debt distress for Zambia as very high at this juncture, and that a large upfront and sustained fiscal adjustment is essential to begin reducing debt vulnerabilities
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  • 62
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: An updated joint assessment of Rwanda's debt sustainability suggests continued low risk of external debt distress. External debt burden indicators remain below risk thresholds, except for a short and temporary breach of debt service indicators in 2023, when the Eurobond issued in 2013 matures. The main risk to debt sustainability--and macroeconomic stability--remains external shocks. Balancing Rwanda's still-strong public investment needs with maintaining low risks of debt distress, the government is focused on carefully choosing the highest return projects, financed under the most favorable terms. These principles are laid out in Rwanda's Medium-Term Debt Strategy, as are options for help mitigating potential risks. More broadly, the government is focused on creating a larger and more diversified export base while encouraging more private investment, to help secure high and resilient growth over the long term. Forthcoming results of fiscal risk analysis will help identify if there could be additional contingent liabilities that should be included in the next DSA
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  • 63
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: The Central African Republic (C.A.R.) remains at high risk of external debt distress and overall high risk of debt distress under the revised Debt Sustainability Framework (DSF), unchanged from the 2018 DSA. Solvency indicators (the present values of the external public and publicly guaranteed debt-to-GDP and debt-to-exports ratios) remain below their relevant thresholds in the baseline scenario. However, liquidity indicators (debt service-to-exports and debt service-to-revenue ratios) breach their thresholds in the baseline scenario. Further considerations support the high-risk assessment: the debt indicators are sensitive to standard stress tests; macroeconomic projections are highly uncertain in a volatile security environment; and sizeable contingent liabilities, notably related to the large stock of unaudited potential domestic arrears and the limited financial information available on state-owned enterprises, could materialize. C.A.R.'s debt sustainability is also sensitive to a deterioration of the financing mix. A tailored scenario in which grant financing (of 2 percent of GDP) is replaced by concessional external debt-financing from 2021 onwards would worsen debt sustainability considerably. This shows that the government's investment program requires grant financing, with concessional debt financing to be considered in exceptional cases
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  • 64
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: The Federated States of Micronesia (FSM) remains at high risk of debt distress under the Debt Sustainability Framework (DSF). Unless the compact agreement with the United States or parts of it are renewed, the FSM will face a fiscal cliff when the U.S. Compact grants amounting to 20 percent of gross domestic product (GDP) are expected to expire in FY2023. Under the baseline scenario without fiscal adjustments, the fiscal cliff would put debt on an upward trajectory starting in FY2024, with the external debt-to-GDP ratio reaching 30 percent in FY2029 and 57 percent in FY2039, and the public debt-to-GDP ratio reaching 43 percent in FY2029 and 67 percent in FY2039. As a result, the DSF thresholds on the present value of external debt-to-GDP and public debt-to-GDP ratios are projected to be breached within a 20-year horizon. While mechanical application of the DSF based on a 10-year forecast horizon would imply a moderate risk rating, the envisaged breach of the thresholds within a 20-year forecast horizon would warrant an assessment of high risk of external and overall debt distress. Lowering the risk of debt distress would require a fiscal adjustment and steadfast structural reforms to promote private sector growth. The FSM's vulnerability to climate change and weather-related natural disasters constitutes a major risk and calls for strategies to strengthen climate change resilience
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  • 65
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: Senegal has expanded its debt perimeter to include para-public entities and state-owned enterprises (SOEs) and remains at low risk of debt distress despite short-term breaches of two external debt indicators under the most extreme scenarios. The low risk of debt distress is predicated on: (i) ongoing debt liability management, guarantees to address currency risk, access to liquid financial assets and a sound track record of market access; and (ii) adherence to the planned fiscal consolidation path, an acceleration of reforms, and a prudent borrowing strategy. Looking ahead, it will be important to contain fiscal pressures from Treasury operations and address fiscal risks from the broader public sector, including the energy sector
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  • 66
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: Based on the Joint Bank-Fund Low-Income Country Debt Sustainability Analysis (LIC-DSA), Uzbekistan has a low risk of debt distress, with debt burden indicators below relevant thresholds in the baseline and all stress scenarios. Over the medium term, the public debt-to-GDP ratio is expected to increase moderately, while the total external debt-to-GDP ratio is expected to decline somewhat. In addition, large foreign exchange reserve buffers mitigate potential distress concerns. The debt sustainability analysis suggests that the most significant risks could result from worse-than-expected external flows (mostly lower remittances) and significantly lower exports. The government should carefully manage external borrowing to maintain Uzbekistan's strong external position
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  • 67
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: According to the updated Low-Income Country Debt Sustainability Framework (LIC DSF), the Democratic Republic of the Congo (DRC)'s debt-carrying capacity was assessed as weak. DRC remains at a moderate risk of external and overall debt distress, with limited space to absorb shocks. The debt coverage has been improved since the last DSA, especially on domestic debt. The external nominal debt ratios are lower than at the time of the 2015 debt sustainability analysis (DSA), however the country shows vulnerability in debt repayment capacity, even under the baseline, due to weak revenue mobilization. Most external debt thresholds are breached under the stress tests, highlighting the country's vulnerability to external shocks. Given limited buffers, prudent borrowing policies are essential by prioritizing concessional loans and strengthening debt management policies
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  • 68
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: The Debt Sustainability Analysis (DSA) suggests that Liberia remains at moderate risk of debt distress with limited space to accommodate shocks. The country's debt carrying capacity remains medium, but the rating has declined from 3.1 to 2.77. The authorities have pursued non-concessional loans, but none has been disbursed yet. The government has instead borrowed U.S. dollars from the Central Bank of Liberia (CBL) to close the financing gap in FY2018. Such new borrowing, as well as the legacy U.S. dollar debt from the civil war time, are both incorporated in the new DSA. The State-owned Enterprises (SOE) guaranteed debt is also incorporated. Liberia will edge closer to high risk of debt distress with a small change in the terms of both domestic and external debt or a failure to adjust primary expenditure to the available revenue envelope over the medium-term
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  • 69
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Financial Sector Assessment Program
    Abstract: While Thailand's pension system is typically described as a multipillar pension scheme, its design is highly fragmented and offers adequate coverage only to a small segment of the population, including civil servants and high-income individuals. In its 2018 Article IV report, the IMF highlighted the need for a broader pension reform, including parametric changes and ender inclusivepolicies to improve female labor force participation and attenuate the impact of aging on productivity growth. While these reforms are needed, private pensions can also play a role inimproving retirement income for individuals. As agreed with the Thai authorities, this technical note provides an assessment of the private, funded components of the pension system. A key component assessed is the voluntary provident fund scheme (PVD). The PVD scheme is voluntary and operates as a tax-incentivized scheme, which allows both employers and employees to take advantage of generous tax benefits for savings for retirement. This note also addresses the challenges of the private, funded system and proposes policy recommendations for increasing coverage, improving efficiency, and delivering sustainable retirement income in the payout phase. This note is organized as follows. The next section provides a brief description of the current overall pension system, public and private; Section III provides a diagnostic of the main challenges in the private, funded system; and Section IV provides recommendations for optimizing the design of the private, funded pension system. The focus of the note is to improve the incentive structure of the private, funded pension scheme
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  • 70
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: Floating solar photovoltaic (FPV) technology is considered commercially viable, given the number of largescale projects that have been implemented. Challenges to its deployment remain, however, including the lack of a robust track record; uncertainty about costs; uncertainty about the environmental impact; and the technical complexity of designing, building, and operating on and in water (especially electrical safety, anchoring and mooring issues, and operation and maintenance). This handbook provides developers, utilities, contractors, investors, regulators, and decision makers with practical guidelines on FPV projects. Most of the handbook focuses on technical aspects relating to developing and operating FPV projects; some sections focus on commercial and legal aspects. Most of the observations are made for inland water bodies or near-shore coastal FPV installations. Many observations incorporate learning and opinions from the industry, but they are also based on the experience from the 1 megawatt-peak (MWp) floating solar testbed in the Tengeh Reservoir in Singapore. The testbed has a comprehensive monitoring system that tracks more than 500 parameters in real time, ranging from electrical to meteorological and module-related factors. Given the early stage development of the technology, this handbook cannot answer all questions about FPV. Further studies and field data analysis are needed to better understand some of the risks of FPV systems, especially their environmental impact and long-term performance. All recommendations provided in this report are based on past and current experiences, which are limited to several years of operating data for most projects. A longer operating lifetime of FPV installations will lead to new and improved recommendations and best practices; new developments in technology,testing, certification, and equipment/materials deployed are likely to evolve as the industry grows and diversifies. An active dialogue among all stakeholders, public and private, is required to further the global understanding of FPV technologies and the development of well-designed projects while minimizing possible negative environmental and social impacts. Through this handbook, the World Bank Group, the Energy Sector Management Assistance Program (ESMAP), and the Solar Energy Research Institute of Singapore (SERIS) hope to contribute to this goal and to disseminate lessons learned from early projects
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  • 71
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    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: This technical guide is the second in a series of four technical guides on variable renewable energy (VRE) grid integration produced by the Energy Sector Management Assistance Program (ESMAP) of the World Bank and the Global Sustainable Electricity Partnership (GSEP). It focuses on the main functionalities, differences and benefits of various compensation devices that can be employed to increase system transfer capacity, system stability, power quality and flexibility to cope with increasing penetrations of renewables in the system. The applications of FACTS devices are associated with four essential technical enhancements of system capacity, system reliability, power quality and system controllability. The application of the FACTS devices for these enhancements would depend on the system needs which would be identified and recommended through the power system studies during the interconnection process. Power system studies are further elaborated in "STUDIES FOR GRID CONNECTION OF VARIABLE RENEWABLE ENERGY GENERATION PLANTS - Technical Guide 3"
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  • 72
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    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: The joint World Bank/IMF Debt Sustainability Analysis (DSA) has been prepared in the context of the 2019 Article IV Consultation, for the first time based on the revised framework for low-income countries. Results indicate moderate risk of debt distress for both external and overall public debt. However, the debt outlook remains vulnerable, especially to a deceleration in real GDP and exports growth and the depreciation of the KGS. To address these vulnerabilities, the authorities need to remain cautious when contracting and guaranteeing new debt, maintain fiscal discipline, improve public investment management, and continue improving the business environment to maintain the export potential of the country after the main gold mine will close in 2026
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  • 73
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    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: Niger's risk of external and overall public debt distress is rated "moderate" as in the previous DSA. While all thresholds are observed in the baseline, the PV of PPG external debt-to-exports ratio breaches its threshold under stress test scenarios. Debt-carrying capacity continues to be rated "medium." The analysis shows that Niger has limited space to accommodate negative shocks and remains vulnerable to adverse developments of its exports. The DSA is predicated on the government continuing to implement its reform program: fiscal consolidation; structural reforms, including revenue mobilization efforts; contain expenditures and improve spending quality; and timely completion of several large-scale projects, in particular the construction of a pipeline for crude oil exports. Identified weaknesses call for further strengthening of debt management, including by broadening the coverage of public debt, prioritizing concessional borrowing, and strengthening private-sector development to support economic diversification and mitigate the risks associated with commodity price fluctuations
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  • 74
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: The risk of external and overall debt distress for Guyana remains moderate, but debt dynamics will improve significantly with the start of oil production in 2020. All external debt indicators remain below the relevant indicative vulnerability thresholds under the baseline scenario, which incorporates the average long-term effects of oil on economic growth, fiscal balance, and current account position. The PV of external debt-to-GDP is projected to decline to 3 percent over the long-term as the need for external borrowing is offset by the accumulation of external assets. Stress tests indicate the susceptibility of Guyana's external public debt in a very extreme shock which combines simultaneous shocks to real GDP growth, primary balance, exports, other flows (current transfers and FDI), and nominal exchange rate depreciation, as well as second order effects arising from interactions among these shocks. The combined effects of these shocks and their second order effects cause temporary but significant breaches in the external debt thresholds, prompting a moderate risk rating. Nonetheless, Guyana has substantial space to absorb these shocks, reflecting the current low level of external debt. Guyana's medium- and long-term outlook is very favorable given the incoming oil production and revenues, which will eventually underpin fiscal surpluses and a reduction in external indebtedness. The authorities reiterated their commitment in preserving fiscal discipline
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  • 75
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: This report presents the first official debt sustainability analysis undertaken for Somalia. Based on both external and public debt indicators, Somalia is in debt distress. Total public debt is very high, at dollar 4.8 billion, or 101 percent of GDP at end-2018-nearly all of which is external (100 percent of GDP). The finding that Somalia is in debt distress reflects the high external arrears on debt relative to GDP, which now represent 96 percent of the debt stock. While Somalia has no capacity to access new financing, its debt burden will continue to increase as late interest on arrears continues to accumulate. Under broadly steady state assumptions, Somalia's total public debt is expected to increase to around 128 percent of GDP by 2039. Key risks that affect the outlook include external financing, security, and climate, further highlighting the unsustainability of Somalia's current debt burden. Consequently, in the absence of debt relief, Somalia will remain in debt distress
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  • 76
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: An updated DSA indicates that The Gambia is in external debt distress, though its public debt is deemed sustainable on a forward-looking basis. The external debt service-to-exports and -to-revenue ratios breach their indicative thresholds by large margins in the near term and signal major liquidity pressures. However, once these pressures are addressed by the prospective debt relief and the authorities' fiscal consolidation and state-owned enterprise (SOE) reform program, the PV of total public debt would be brought below its threshold over the medium term. On the upside, debt relief discussions with external creditors are progressing and could unlock additional budget support. Downside risks mainly relate to the political environment and fiscal discipline, the unravelling of which could destabilize the economy and worsen the outlook for public debt
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  • 77
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: Benin remains at moderate risk of external debt distress. The rating is unchanged from the previous November 2018 DSA. All the projected external debt burden indicators remain below their thresholds under the baseline, but the ratio of the present value (PV) of external debt to exports exceeds its threshold in the case of an extreme shock to exports.1 With regard to total public and publicly guaranteed (PPG) debt (external plus domestic), the overall risk of debt distress remains also moderate. The public debt-to-GDP ratio is below its prudent benchmark in the baseline scenario; however, the PV of public debt-to-GDP rises very slightly above its benchmark from 2024 until the end of the projection period under the real GDP shock scenario. Other factors motivating the overall rating include: the past evolution of domestic debt, the relatively high debt service burden, as well as the existence of contingent liabilities. Medium-term fiscal consolidation, sound public investment management, and enhanced debt management capacity are needed to reduce debt vulnerabilities
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  • 78
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    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: The updated DSA suggests that the external risk of debt distress for Vanuatu remains moderate with limited space to absorb shocks. All external debt indicators remain below the relevant indicative thresholds under the baseline scenario, incorporating the average long-term effects of natural disasters on growth and the fiscal and current account balances. A tailored natural disaster shock, reflecting Vanuatu's vulnerability to disasters, would cause the present value (PV) of public and publicly guaranteed (PPG) external debt-to-GDP ratio to breach the threshold from 2024 onwards. The overall risk of debt distress is assessed as moderate. Although the PV of the public-debt-to-GDP ratio remains below the 55 percent benchmark under the baseline scenario, the public-debt-to-GDP ratio would breach the authorities' debt ceiling of 60 percent by 2025. Moreover, a tailored natural disaster shock would lead to a significant deterioration in debt sustainability, breaching the benchmark. The breach of the authorities' debt ceiling and of the benchmark indicates the need for rebuilding fiscal buffers and enhancing resilience against shocks, including from natural disasters. This requires both stronger revenue mobilization measures, including an introduction of the proposed income taxes, and expenditure rationalization in the medium term. When contracting new public infrastructure projects, the authorities are encouraged to seek grants or concessional loans as much as possible to contain its debt burden
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    Series Statement: World Bank E-Library Archive
    Series Statement: Financial Sector Assessment Program
    Abstract: This assessment of the implementation of the BCP in India has been completed as part of the Financial Sector Assessment Program (FSAP), which has been undertaken by the International Monetary Fund (IMF) and the World Bank (WB) in 2017, at the request of the Indian authorities. The scope of the assessment is the scheduled commercial banks, and the assessment reflects the regulatory and supervisory framework in place as of the completion of the assessment. It is not intended to analyze the state of the banking sector or crisis management framework, which are addressed by other assessments conducted in this FSAP
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  • 80
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: This report provides a Debt Sustainability Analysis (LIC-DSA) of Grenada's public and publicly guaranteed (PPG) external and total debt for 2018. The macro-framework incorporates all previous debt restructurings, including the November 2017 haircut on commercial debt. Total public debt has declined from 108 percent of GDP in 2013 to below 71 percent of GDP in 2017 with external public debt declining to 48 percent of GDP. This reduction was made possible through a comprehensive restructuring of Grenada's public debt, fiscal consolidation, and robust economic growth. Nevertheless, with some USD 15.7 million (1.4 percent of GDP) in unresolved arrears to official bilateral creditors, Grenada's external debt risk rating remains 'in debt distress'. Going forward full regularization of arrears and continued fiscal discipline will be needed to keep the debt on a downward path and withstand the existing vulnerabilities to external shocks and natural disasters
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  • 81
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: Sustainable energy is at the heart of the global development and climate change agenda. Reaching the targets set by the United Nation's Sustainable Development Goal 7 (SDG7) will require a rapid increase in energy access, renewable energy and the efficient use of existing energy resources. Public debate centers on securing adequate finance to meet these global targets, but evidence demonstrates that policy can often be a prerequisite for mobilizing finance. RISE 2018 demonstrates that progress on sustainable energy outcomes has often been preceded by long-term efforts to strengthen policy and regulatory environments. Precisely because policy matters, it is important to track how well countries are doing in creating the regulatory environment needed to accelerate achievement of sustainable energy goals. RISE provides such a global scorecard which summarizes countries' regulatory environments. It does so by tracking the adoption of good-practice policies with respect to energy access, energy efficiency, and renewable energy at the country level as of December 2017, scoring them on a scale from 1 to 100, and classifying the strength of a country's policy environment according to a "traffic light" system with green for advanced, yellow for intermediate, and red for early stage. Poor creditworthiness of utilities undermines the sustainable energy agenda. Power utilities are among the central actors in the energy sector in most countries, and their financial health is critical for the viability of investments across the sustainable energy agenda. As of 2016, however, only about half of all power utilities met several basic creditworthiness requirements. Moreover, performance on almost all dimensions of credit-worthiness has deteriorated since 2012. The situation is particularly acute in low-access countries, where the number of utilities meeting basic creditworthiness criteria has dropped, falling from 63 percent in 2012 to 37 percent in 2016. Good institutions and enforcement are also necessary elements to achieve sustainable energy results. Adopting good practice policies will not yield results without strong institutions and consistent enforcement. RISE 2018 has incorporated proxy enforcement indicators to provide some sense of the level of attention that countries are giving to enforcement issues
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  • 82
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: This debt sustainability analysis (DSA) concludes that Afghanistan's external and overall risk of debt distress continues to be assessed as high. Afghanistan's debt sustainability hinges on continued donor grants inflows (currently around 40 percent of GDP) against substantial fiscal and external deficits and downside risks to the economic outlook. A gradual replacement of grants by debt financing leads to high risk of debt distress in the long run and is captured by mechanical risk ratings based on an extended 20-year period rather than the standard 10-year period. Significant downside risks include the fragile security situation, political uncertainty, domestic revenue shortfalls, weather related risks, and regional economic instability. The authorities should continue their efforts to mobilize revenue and implement reforms, while donors should continue to provide financing in the form of grants. Debt management capacity, including the monitoring of contingent liabilities emanating from state-owned entities and public-private partnerships (PPPs), should be strengthened
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  • 83
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: The 2018 Debt Sustainability Analysis (DSA) assesses that the Republic of the Marshall Islands (RMI) remains at high risk of debt distress. The ratios of the present value (PV) of external public and publicly-guaranteed (PPG) debt to GDP and to exports are currently just below their respective policy-dependent indicative thresholds. The PV of the PPG debt-to-GDP ratio is expected to decline slightly in the near term, but to start increasing and exceed its indicative threshold in the medium to long term. Stress tests confirm the vulnerability of the debt position to lending terms as well as macroeconomic shocks. Although the RMI does not currently face debt servicing risks, helped by government revenue from fishing licenses and a stable flow of funds from the U.S. Compact grants until FY2023, a lack of fiscal buffers after FY2023 and risks from contingent liabilities call for a fiscal reform strategy. Containing the risk of debt distress requires continuation of grants to support the country's large development needs, and implementation of fiscal and structural reforms to promote fiscal sustainability and growth
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  • 84
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: TRACE 2.0 incorporates almost 100 recommendations for energy interventions. Following requests from municipal officials for more detailed technical and financial assessment, this version provides simple customizable models for each intervention. Through intervention calculators, users can quickly calculate costs and benefits for each recommendation. The manual is a practical guide for city officials and energy experts. TRACE 2.0 software and manual are available at https://esmap.org/TRACE. ESMAP first developed TRACE in 2008 to help city officials quickly identify energy efficiency performance gaps and opportunities in various public sectors including lighting, water/wastewater, buildings, transportation, solid waste, and power/heating. It guides users through data collection and sector prioritization-considering constraints such as technical capacity and finance-to generate recommendations to improve cities' energy efficiency. TRACE can help build this framework and initiate a process in a municipal government by using standardized data to address various issues. TRACE has supported more than 80 cities to develop long-term energy efficiency strategies and investment pipelines by increasing understanding of cross-sectoral energy challenges, helping direct funds for dedicated energy efficiency investments, and pointing to legislative adjustments, as well as improving local administrators' ability to identify, plan, and implement energy efficiency solutions across sectors
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  • 85
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Financial Sector Assessment Program
    Abstract: The costs of meeting the SDG WASH targets will be several times higher than investment levels during the MDG era (2000-15). The immense scale of the financing gap calls for innovative solutions. In addition to mobilizing more funding another approach is to deliver the needed infrastructure more efficiently and effectively and thus reduce the financing gap. Capital expenditure efficiency (CEE)-the efficient and effective use of capital-is less documented compared to operational efficiency. Although improving operating efficiency is frequently highlighted and readily evaluated, the scope for capital cost efficiencies is poorly understood, frequently overlooked, and difficult to evaluate, even though the scale of savings can be significant-in fact, capital and operating costs are equally important when considering full cost recovery. This study compiles case studies that show the andquot;art of the possibleandquot; in CEE. The report is not encyclopedic-many more examples could surface from a comprehensive study. It also doesnandapos;t quantify the savings possible through increasing CEE. However, almost all the examples show capital savings of 25 percent or more compared to traditional solutions. This alone this should give policy makers, donors, and utility managers pause for thought and encourage them to develop CEE in their sectors, projects, or utilities. A 25 percent improvement in CEE would allow existing investments to deliver a 33 percent increase in benefits
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  • 86
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Debt and Creditworthiness Study
    Abstract: Sao Tome and Principe is classified as being in debt distress according to this joint World Bank-IMF low-income country debt sustainability analysis (DSA). This assessment has changed from the previous DSA completed in December 2017 (high risk of external debt distress) due to the prolonged negotiations on rescheduling external arrears. Nonetheless, Sao Tome and Principe's debt ratios have improved since the previous DSA. Specifically, the ratio of the present value of public and publicly-guaranteed (PPG) external debt to gross domestic product (GDP) no longer exceeds its threshold under the baseline scenario, due to lower-than-expected loan disbursements in 2017, an appreciation of the euro vis-a -vis the U.S. dollar, and higher-than-expected GDP deflator growth. As in the previous DSA, the debt service ratios stay below their respective thresholds under almost all scenarios. Nevertheless, the ratios of the present value of debt to exports and to revenue still exceed their respective thresholds under the baseline scenario early in the projection period, though they decline over time. This DSA underscores the importance of lowering all PPG external debt indicators below their thresholds by continuing fiscal consolidation, eschewing non-concessional loans, promoting growth, and expanding the export base
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  • 87
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Financial Sector Assessment Program
    Series Statement: World Bank E-Library Archive
    Abstract: The authorities have actively pursued restoring credibility in the financial system following the collapse of the system's fourth largest bank in 2014. To restore credibility, the authorities - in addition to requesting a Basel Core Principles (BCP) assessment in 2015 and this financial sector assessment program (FSAP) - conducted an asset quality review (AQR) for banks and balance sheet review for non-banks, initiated reforms to Bulgarian National Bank (BNB) supervision and introduced a new bank resolution function. It is important that the authorities continue in their efforts to strengthen the banking sector. The FSAP stress test showed more pronounced effects, though broadly in line with that of the authorities, reflecting differences in approaches. While the financial safety net and crisis management arrangements are based on sound foundations, further effort is needed to fully develop the financial safety net's components. This includes strengthening the early intervention framework, and defining joint BNB - Ministry of Finance (MoF) strategies for liquidity assistance. A more targeted strategy is needed to address high nonperforming loans (NPLs), which can help reinvigorate the economy. A number of reforms are necessary to support the prudent development of the pension and insurance sector
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 88
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Financial Sector Assessment Program
    Abstract: This assessment of insurance regulation in Indonesia was carried out as part of the 2016-17 Financial Sector Assessment Program (FSAP). The Indonesian insurance sector is still vulnerable to a number of material risks. A number of insurers have failed in the last 10 years. After its establishment, OJK has taken prompt action in order to reduce the loss to policyholders by taking strong actions against four insurers with material deficits. OJK has monitored the capital adequacy of insurers through its risk based supervision scheme. During the recent market turmoil in 2015, the solvency requirement was relaxed for nine months while introducing the temporary suspension of mark to market valuation rules. The Indonesian insurance industry is exposed to significant catastrophic risk with domestic concentrations through mandatory reinsurance programs. The low interest rate environment in advanced economies is also affecting the life insurance sector, as insurers have some underwriting denominated in USD
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  • 89
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: The study's objective is to understand what regulatory settings governments may adopt to scale up electrification through private development of mini grids, drawing on the experience of these six jurisdictions; provide technical assistance to four countries that want to further develop their mini grids framework; and disseminate findings and recommendations globally to inform successful mini grids regulation. The study focuses on mini grids defined as small, privately-owned and operated systems with generation of up to 10 megawatts (MW) capacity and a network that distributes power to several customers. The study includes small mini grids of less than 1 kilowatt (kW) capacity, also known as 'micro' or 'pico' grids. The six case studies are intended to be synthesized in one report. The report is to provide a cross-country comparison of these topics: it examines side by side how each of the countries studied have responded to a specific regulatory question, and presents a decision-tree approach to developing regulatory frameworks for mini grids. This case study is based on in-depth interviews with a number of key stakeholders in Bangladesh, conducted during and after a research trip in August 2017. Several experts in the Bangladesh context and mini grids more broadly reviewed this case study for accuracy and clarity, and their have incorporated their comments while retaining a neutral fact-based position. The Government aims to provide electricity to all by 2021 through grid extension, mini grids and stand-alone systems. The Power Sector Master Plan (PSMP) 2010 sets out to accommodate the Government's vision by 2021.The Government recognizes that public sector investment alone will not be sufficient to achieve its target and wants to mobilize resources from the private sector. The Government seeks to catalyze and promote private sector participation in renewable energy projects through Infrastructure Development Company Limited (IDCOL), a fully government-owned financial institution.IDCOL works alongside the Ministry of Power, Energy, and Mineral Resources (MPEMR) to identify areas where grid expansion is unlikely in the foreseeable future, and to entice private mini grid developers. Mini-grid operators are occupying a small but growing space in Bangladesh, with seven mini-grids connecting around 2,243 households in rural areas. IDCOL has approved 18 mini grid systems and plans to install 50 by 2018
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  • 90
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: The mini grid sector in Nigeria started to develop only recently. The study focuses on mini grids defined as small, privately-owned and operated systems with generation of up to 10 megawatts (MW) capacity and a network that distributes power to several customers. The report is to provide a cross-country comparison of these topics: it examines side by side how each of the countries studied have responded to a specific regulatory question, and presents a decision-tree approach to developing regulatory frameworks for mini grids. This document is structured as follows: (i) Section 1 starts with brief introduction; (ii) Section 2 has brief description of the context of the country; (iii) Section 3 sets out an overview of the power sector; (iv) Section 4 examines the main aspects of the policy setting for mini grids; (v) Section 5 surveys technologies and business models used in the mini grids sector; (vi) Section 6 explains the process to authorize mini grid operators; (vii) Section 7 assesses technical and service standards for mini grids; (viii) Section 8 explains tariff setting, financing, and subsidies; (ix) Section 9 describes handling the relationship with the main grid; and (x) Section 10 concludes with a summary of lessons learnt from the experience of the country
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  • 91
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: The Global Facility on Mini Grids of the Energy Sector Management Assistance Program (ESMAP) hired Castalia to study the regulation of mini grids in six jurisdictions in Sub-Saharan Africa and Asia (Kenya, Tanzania, and Nigeria; and Bangladesh, Cambodia, and the state of Uttar Pradesh in India). The study's objective is to understand what regulatory settings governments may adopt to scale up electrification through private development of mini grids, drawing on the experience of these six jurisdictions; provide technical assistance to four countries that want to further develop their mini grids framework; and disseminate findings and recommendations globally to inform successful mini grids regulation. The study focuses on mini grids defined as small, privately-owned and operated systems with generation of up to 10 megawatts (MW) capacity and a network that distributes power to several customers. The study includes small mini grids of less than 1 kilowatt (kW) capacity, also known as 'micro' or 'pico' grids. The six case studies are intended to be combined in one report. The report is to provide a cross-country comparison of these topics: it examines side by side how each of the countries studied have responded to a specific regulatory question, and presents a decision-tree approach to developing regulatory frameworks for mini grids. This case study is based on in-depth interviews with a number of key stakeholders in Cambodia, conducted during and after a research trip in August 2017. We supplemented the insights gained from these interviews with extensive background research. Several experts in the Cambodia context and mini grids more broadly reviewed this case study for accuracy and clarity, and we have incorporated their comments while retaining a neutral fact-based position
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  • 92
    Language: English
    Pages: 1 Online-Ressource (55 p)
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als McKenzie, David Growing Markets through Business Training for Female Entrepreneurs: A Market-Level Randomized Experiment in Kenya
    Abstract: A common concern with efforts to directly help some small businesses to grow is that their growth comes at the expense of their unassisted competitors. This study tests this possibility using a two-stage randomized experiment in Kenya. The experiment randomizes business training at the market level, and then within markets to selected businesses. Three years after training, the treated businesses are selling more, earn higher profits, and their owners have higher well-being. There is no evidence of negative spillovers on the competing businesses, and the markets as a whole appear to have grown in terms of number of customers and sales volumes. This market growth appears to come from enhanced customer service and new product introduction, generating more customers and more sales from existing customers. As a result, business growth in underdeveloped markets is possible without taking sales away from nontreated businesses
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 93
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Financial Sector Assessment Program
    Series Statement: World Bank E-Library Archive
    Abstract: This financial sector assessment (FSA) summarizes the key findings and recommendations of the 2016 FSAP update report for Mexico. Mexico's economic growth has been steady and inflation remained low despite a significant depreciation of the exchange rate in the last 18 months.The medium term outlook for the Mexican economy foresees stable growth and inflation. After several years of contained growth, commercial bank credit grew by 14 percent in 2015, albeit from a very low base.Nonfinancial sector balance sheets show little sign of stress.Key risks to the macroeconomic outlook are mostly external in nature and stem from the close connection to US markets, the dependency on oil revenues, and potential resurgence of market volatility. A comprehensive financial reform was approved in November 2013 with the objective of increasing the financial sector's contribution to economic growth. The financial reform encompassed revisions to the banking law and other legislation to encourage credit expansion. This entailed a more active role of development banks in extending credit and measures to ensure that private financial institutions would channel credit to productive activities
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 94
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: Most mini grids in developing countries begin life as isolated electrical systems that are not connected to the country's main grid. In recent years, the main grid has expanded to reach more rural areas in many African, Asian, and Latin American countries. Its expansion raises a critical question of What happens to the mini grid when the main grid arrives? This study attempts to answer this question, using the recent experiences of Cambodia, Sri Lanka, and Indonesia. The three country case studies follow a similar structure. Each describes the regulatory, commercial, and technical characteristics before and after the main grid arrived in villages that had previously been served by the isolated mini grids. In two of the case-study countries (Indonesia and Sri Lanka), the isolated mini grids were owned by community organizations. It is possible that the post-interconnection outcomes would have been different if the isolated mini grids had been built and operated by private entities. The issuance of regulatory rules and policy pronouncements does not guarantee that the options they specify will be of practical interest to mini grid developers. Good intentions of government officials do not translate into on-the-ground results if the economics of an option are not viable. At the end of the day, it is the underlying economics that determine whether a rule or policy is workable
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  • 95
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: This report provides the first historic overview of power system development focused on its evolution from distributed systems to centralized grid systems. It tracks the early development of power systems in several (now) middle- and high-income economies to inform the current drive to deploy new systems and achieve universal access to electricity services. We find that history can provide certain insights to a set of questions faced by today's energy policy makers. Our review is non-comprehensive, but will hopefully provide fodder for future, more detailed historical research, and shed some light on the complex and fascinating role of mini- or isolated grids in power system development globally. The development of power systems began in several regions of the world in the second half of the 19th century, marking the start of a new era, characterized by disruptive innovation, rapid development and opportunity. Today, electric power systems constitute a fundamental pillar of modern societies and electricity is increasingly recognized as a crucial prerequisite for the achievement of socio-economic prosperity. The development of power systems was affected by multiple factors, some systemically endogenous, such as technical advancements, innovation, entrepreneurial drive and decisions, and some exogenous, such as economic principles, legislative constraints and support, institutional structures, historical contingencies and geographical aspects (Hughes 1983). While numerous paths have been followed over the years there was a common igniting point; small isolated power systems and mini-grids. As technologies improved, demand increased and the policy and regulatory regimes stabilized, larger generators could be built (taking advantage of economies of scale) and electricity could be transmitted over longer distances. These factors resulted in the emergence of centralized utilities (either privately or publicly owned). Typically, mini-grids either became integrated with one another forming the nucleus of a larger centralized system or were absorbed by a larger grid system as it expanded
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  • 96
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: This note is intended to serve as a quick reference guide for applying a gender lens to the design and implementation of a mini-grid to enhance development outcomes. As mini-grids are increasingly seen as a potential solution to energy access issues, importance must be placed on ensuring that the benefits and opportunities of the intervention are realized for both men and women. The guidance below provides energy access, social development and gender specialists, with additional ideas and best-practice approaches to integrate at all stages of the project cycle in order to enhance gender equality
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  • 97
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Energy Sector Management Assistance Program Papers
    Series Statement: World Bank E-Library Archive
    Abstract: With unprecedented speed and scale, digital transformation is affecting multiple industries, including energy. A combination of technologies, and a more complex world demanding greater agility and new competences impact all aspects of the energy sector and manifest themselves in changing patterns of consumption, new ways of asset optimization, and cross-industry partnerships. 'Smart solutions' are a product of this transformation and energy data are its source. By nature, the energy sector generates vast amounts of big data through meters, sensor networks, customer payments, credit history, satellite imagery, etc. It is not surprising that private and public energy companies are turning to the idea of leveraging big data analytics for performance optimization and improved service delivery. The transition to a digitized energy sector will not happen on its own, and a number of enablers are required to facilitate this change. Beyond improved digital infrastructure, digital skills and analytics capabilities will need to be strengthened. This new solutions brief aims to encourage the use of big data analytics in the energy sector by outlining opportunities and identify cases for where the use of big data analytics could help better address challenges faced by the energy sector today
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  • 98
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Energy Sector Management Assistance Program Papers
    Series Statement: World Bank E-Library Archive
    Abstract: Energy efficiency is a cost-effective solution to meet energy, climate change, and sustainabledevelopment goals and critical for supporting access to affordable, reliable, and sustainableenergy services in developing countries. The energy efficiency potential is vast and largelyuntapped across the world. This is widely recognized by most governments, the developmentcommunity, and international organizations, and forms the foundation of global initiatives such asSustainable Energy for All. The benefits of improving energy efficiency are multiple, but so are the barriers. There is no silver bullet, but recognizing the multiple benefits of energy efficiency - including energy savings, as well as others and making them more visible and credible is an integral part of the solution. If demonstrated suitably, these multiple benefits can motivate stakeholders to invest and participate in energy efficiency programs. The report makes the case that M&V should be a critical aspect of any energy efficiency project or program in order to ensure value for money, justify continued or increased funding, as well as provide the basis of performance-based payment mechanisms. M&V is essential to assess resource savings and to ensure that savings persist over time. Energy efficiency practitioners use M&V for several reasons, such as, to: improve engineering design and project costing; enhance energy savings through adjustments in facility operations and maintenance; document financial transactions; enhance financing for energy efficiency projects; and support development of broader energy efficiency programs
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 99
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Energy Sector Management Assistance Program Papers
    Abstract: Uttar Pradesh, the most populous state in India, has among the lowest levels of electricity connection in the country.1 Over 100 million people, at least half of the rural population, lack a formal connection to a distribution grid. The level of electricity services remains low despite the physical extension of the state-owned grid to all official villages. Unelectrified households are reluctant to apply for grid connection because they expect electricity supply to be unreliable, and they would have to spend money on coping strategies to replace electricity. In addition, connecting individual households in each village is costly to the state-owned distribution utilities. Highly regulated tariffs and a high cost of servicing remote areas mean that rural connections promise few returns to the utilities.Electrification has been a public policy priority for decades of successive state and central governments across the political spectrum. Public policy has maintained ambitious objectives to expand grid services from the state-owned medium-voltage (MV) distribution grid to rural areas. The state-owned grid has electrified all cities and surrounding towns. The high-voltage (HV) transmission grid extends throughout most of the state, in contrast to other energy-poor countries in Asia such as Cambodia, Indonesia, and Sri Lanka. Private mini grid operators have occupied a small but growing space in the rural electricity market in Uttar Pradesh since around 2010. Several small companies, as well as individual entrepreneurs, are now providing electricity services in almost 1,900 settlements (villages and hamlets) in the state, and have made about 37,000 connections (and growing)Independent mini grid operators in Uttar Pradesh have proven they can earn rural customers' trust and their business. Rural consumers' simple energy needs can absorb up to a third of households' monthly expenditure without an electricity connection.Mini grid operators are addressing these gaps in service through renewable-based systems that deliver power to underserved villages. They have gained credibility as a more reliable service than the state-owned grid in rural areas by providing a reliable solution to residents' and businesses' lighting, phone charging, and appliance-powering problems. They provide basic light-emitting diode (LED) home lighting and a mobile phone charging outlet to a household for a scheduled 6 to 8 hours a day
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  • 100
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Financial Sector Assessment Program
    Abstract: This Technical Note examines India's securities market and the regulatory system overseeing the securities market and market participants. It is based upon a mission to Mumbai, India from March 14 - 31, 2017, conducted as one component of a joint IMF-World Bank Financial Sector Assessment Program (FSAP). This Note updates a detailed IOSCO assessment that was conducted from June 15 to July 1, 2011 as part of an FSAP and published in August 2013. It examines the changes that have occurred in India's securities markets since the last assessment and the changes that have occurred in the regulation of this market
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