2016 Annual World BankReport:A Summary for EconomicDevelopment Project By:Upinder SawhneyWednesday 10th, 2018 Theworld bank has made great progress in the past years to improve the quality oflife in many different regions.
They have invested in agriculture, science,human capital and renewable energy. The World bank specially focuses on humancapital through health care, education, jobs and social protection. The WorldBank wants to build a healthy lifestyle for people of all countries throughnutrition and health care coverage. According to the World Bank, countries arebranched into six different regions. AfricaTheWorld Bank approved 9.3 billion in 109 projects in Africa for the year withonly $669 million in loans and rest in International Development Association(IDA) Commitments. The bank committed to boosting the agriculture productivityin Africa which accounts for over 65 percent of its employment. The bank setaside $248 to improve the lives of 2 million pastoralists in the region.
Likemany other countries Africa also lacks in access to electricity and the worldbank has provided over $700 million for the Gas Project in Ghana. The projectwill fuel upto 1,000 megawatts of power generation. This project funded by thebank will leverage $7.
9 billion in private sector investments. Changesin rainfall and temperature are harder for people who do not have a stable homeor place to stay with necessary equipment to survive such weather. Adaptiontechniques and disaster risk management are the top priority for the bank whenit comes to poor people. The businessplan to tackle this situation was presented in Paris 2015 climate changetalks. Along with climate change issues,IDA approved turnaround resources for Guinea-Bissau and Madagascar which willhelp fund the fragility of the region and support the transition to more sturdystructures.
World Bank has provided over$140 every year for the next decade to improve the education system in Africa.This will bring jobs in the market and education youth that is looking for jobseach year. East Asia and PacificThebank approved $5.2 billion in loans and $2.3 billion in IDA commitments for 41projects in the region for that year. The bank focuses on five areas when it comes to issues in East Asia andPacific which includes inclusion and empowerment, jobs and private sector-ledgrowth, governance and institutions, infrastructure and urbanization, andclimate change and disaster risk management. The bank is looking to improvehealth and combat malnutrition in the region.
34 countries account for 90percent of the global stunting in this region. China and Indonesia account for50 percent of the global burden of obesity. The bank is investing in PNPMGenerasi (National Program for Community Empowerment) in Indonesia which willhelp improve the health of mothers and children. This project has been known todecrease the incidence of underweight and severely underweight by 20-33percent. Stunting with this project was also decreased by 21 percent.
13of the 30 countries in the region are the most vulnerable to climatechange. More than 1.6 billion peoplehave been affected by the climate change in these countries since the year2000. This region also contributes to more than 66 percent of the carbondioxide of the world with more than 60 percent of coal consumption. The regionis critical of advancing global climate change agenda. The bank is working withgovernment and private sectors to provide solutions for greener and cleanerenergy for the region.
With support from the Bank, Beijing installed 100 megawattsof rooftop solar systems in 800 primary and middle schools. Rice cultivationwith climate-smart approach has helped over 30,000 farmers in Vietnam with thehelp of the bank. The new offices in Malaysia, Republic of Korea and Singaporeare intended to generate and share development knowledge, lessons and solutionwith countries in the region and across the globe.