A $120 million project in Nepal will improve employment services and labor market outcomes for nearly 100,000 youth, especially women. By increasing the use of e-commerce, the region could help increase competition and firms’ productivity, increase market access, and strengthen commercial linkages between countries. At least 43 percent of participating farmers and workers are expected to be women. As of June 22, COVID-19 cases in South Asia have been rising exponentially, with more than 735,000 confirmed so far, mostly in India, Pakistan, and Bangladesh. Income level: High income. The report examines both short-term and longer-term … In Pakistan, we committed $436 million to improve health and education services and social protection for poor and vulnerable households in Balochistan, Khyber Pakhtunkhwa, and Punjab. World Bank (2019-10-13) Global GDP growth is decelerating, while trade and industrial production are stagnating. In Bangladesh, a $500 million program will expand and enhance a 260-kilometer national highway to support greater regional trade and help improve the livelihoods of over 20 million people in rural areas. Source: World Bank and staff calculations.. South Asia’s economic outlook is grim The region is set to plunge in 2020 into its worst-ever recession as the devastating impacts of COVID-19 on South Asian economies linger on. Addressing this requires building resilience at the local level. Making roads safer for India’s popular two-wheelers. The demographic transition is swelling the ranks of the working-age population across most of South Asia. February 02, 2021 | Jaishree Jindel. Medical experts place vulnerabilities related to respiratory ailments such as asthma and chronic lung disease high on the list of preexisting conditions that can make people more susceptible to COVID-19. World Bank national accounts data, and OECD National Accounts data files. Region: East Asia & Pacific. The time to act is now to achieve the goal of halving road crash deaths by 2030. February 08, 2021 | Hartwig Schafer . The Documents & Reports (D&R) site is an official disclosure mechanism for the World Bank Group’s final reports. South Asia is facing its worst-ever recession. The World Bank EdStats Query holds around 2,500 internationally comparable education indicators for access, progression, completion, literacy, teachers, population, and expenditures. Since early April, the World Bank has delivered 25 operations totaling almost $7.9 billion to support COVID-19 recovery in South Asia. NEW DELHI: India and other South Asian countries are likely to record their worst growth performance in four decades this year due to the coronavirus outbreak, the World Bank said on Sunday. Ahmad added that 50 per cent of the total trade in East Asia is between neighbours. Investors’ applications were also received for 11 other projects in response to the 77 that were showcased by the government. First, SAFTA is undermined by the so-called “sensitive list”- a long list of products that are exempted from the tariff liberalization program. Going forward, our priority is to pave the way for an inclusive and resilient recovery. As reports on policy issues, we intend that they should help us . And here are the reasons behind SAFTA’s ineffectiveness. When the summit concluded, some 15 deals had been signed to develop hydro and solar power, 5G network services, a high-end resort, grain storage warehouses, and public-private partnerships. The World Bank Group works in every major area of development. It follows the Global Monitoring Database (GMD) … The hydropower plant will provide most of its electricity during the summer months, when demand is highest, helping reduce blackouts. Investing in people and supporting inclusive growth. Notes: (e)=estimate; (f)= forecast. South Asia’s economic outlook is grim The region is set to plunge in 2020 into its worst-ever recession as the devastating impacts of COVID-19 on South Asian economies linger on, taking a disproportionate toll on informal workers and pushing millions of South Asians into extreme poverty. South Asia from The World Bank: Data. The region is also highly vulnerable to climate impacts, including natural disasters and rising sea levels and temperatures. New laws aim to encourage foreign direct investment, improve the business climate, and protect intellectual property. Data are in calendar years. This package includes IDA guarantees and financing from the IDA18 Private Sector Window and leverages IFC loans and MIGA guarantees. Visit all of the projects that we are working on in the South Asia Region. South Asia real GDP growth forecast. To learn more about cookies, click here. The Bank Group’s financial and technical support for the summit reaffirms the 50-plus year engagement with Nepal and supports our commitment to the country’s ambitious goal of becoming a middle-income country by 2030. To boost human capital as a driver of growth, the Bank is helping the region improve access to and quality of education, address childhood stunting and malnutrition, strengthen health systems and services, and expand safety nets to protect the poorest people. But are countries generating enough jobs? South Asia At-A-Glance In 2020, South Asia is set to plunge into its worst-ever recession as the devastating impacts of COVID-19 on the region’s economies linger on, taking a disproportionate toll on informal workers and pushing millions of South Asians into extreme poverty In its report released on Sunday, the World Bank saw the South Asian region, comprising eight countries, growing by 1.8 - 2.8% this year, down from the 6.3% it … It will also support hand-washing stations in several municipalities to improve hygiene, both as part of the effort to address COVID-19 and for the longer term. Our report Unleashing E-Commerce for South Asian Integration analyzed how e-commerce can become a driver of growth and boost trade. Current account deficits have declined, as is often the case during economic downturns. The Bank Group hosted a pre-summit roadshow in Malaysia and Singapore to help raise interest among investors in those countries. The repository contains official documents and reports which are made available to the public in accordance with the Bank’s Access to Information Policy to better share the institution's knowledge base. Our report Unleashing E-Commerce for South Asian Integration analyzed how e-commerce can become a driver of growth and boost trade. In Pakistan, an additional $700 million for the Dasu Hydropower Project will help lower the overall cost of the country’s energy generation, benefiting millions of users and making electricity more affordable. According to the World Bank, 70% of the South Asian population and about 75% of South Asia's poor live in rural areas and most rely on agriculture for their livelihood according to the UN's Food and Agricultural Organisation. South Asia’s policymakers, the World Bank report says, face a choice: Continue on the same path or undertake difficult and appropriate reforms to improve the region’s trajectory of development. Access South Africa’s economy facts, statistics, project information, development research from experts and … South Asia will be hit hard as COVID-19 strikes. Urban wetlands breathe life into Sri Lanka’s capital city. We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. This site uses cookies to optimize functionality and give you the best possible experience. We are working with partners to provide basic services to the displaced and hosting communities. The World Bank's Regional Integration, Cooperation, and Engagement work supports regional activities in South Asia to promote economic connectivity, climate change resilience, and human development. Life expectancy at birth, total (years) GNI per capita, Atlas method (current US$) Statistical Capacity score (Overall average) Graph, map and compare more than 1,000 time series indicators from the World Development Indicators. World Bank and Asian Development Bank join forces for a resilient recovery in South Asia . It won’t be easy but such actions are essential in making the region’s cities prosperous and livable. With an estimated 1.5 million people entering the job market every month over the next two decades, job creation is essential. Factoring in population growth, however, income-per-capita in the region will remain 6 percent below 2019 estimates, indicating that the expected rebound will not offset the lasting economic damage caused by the pandemic. Regional growth is projected to rebound to 4.5 percent in 2021. South Asia is on course for its worst economic performance in 40 years, with decades of progress in the battle against poverty at risk, because of coronavirus, the World Bank said Sunday. Road safety is a critical development priority. Supporting sustainable growth and creating jobs. According to the World Bank report, increasing the competitiveness of South Asia’s exports will require an improvement in the performance of its container ports, as over three quarters of the region’s trade is transported through ports. Informality and COVID-19 in South Asia, Office of the Chief Economist, South Asia Region (SARCE). This will fund nearly 87,000 more houses in 32 districts affected by the 2015 earthquakes and provide grants for families to ensure rebuilt housing is earthquake resistant. We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. Inflation remains near … O.1 Temperatures Have Been Increasing in Much of South Asia ..... 3 O.2 Annual Average Temperatures Increase by 2050 Relative to 1981–2010 ..... 7 O.3 Severe Hotspots Will Cover a Significant Portion of South Asia by 2050 ..... 9 1.1 South Asia Remains a Region Very Vulnerable to Climate Change and In December 2019, we also convened the 100-day “Girls Learn, Women Earn” campaign, which focused on creating better learning and employment opportunities for Pakistani girls and women. South Asia as used in this report includes Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. The initial focus has been on the health emergency response and protecting the most vulnerable. This report examines food and overall inflation trends in South Asia, which is experiencing relatively high inflation, and is home to a large number of poor. Conflict and fragility risks are increasing in South Asia, resulting in greater displacement. Extreme poverty is steadily falling, and growth has remained relatively strong for the last two years. "In Africa, over 22 per cent of trade is between neighbours." Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. There are many more poor people who are net buyers of food than there are those who benefit from higher prices of agricultural products even in the predominantly rural countries of South Asia. Last Updated: Dec 20, 2020. The numbers in this report are based on SARMD. It's urgent to develop smart policies to help them and prepare for a resilient recovery. To learn more about cookies, click here. For the first time in South Asia, we extended a $10 million Catastrophe Deferred Drawdown Option (CAT-DDO), which will help Maldives mitigate the risks and vulnerabilities associated with COVID-19. Shixin Chen. GDP growth (annual %) - South Asia. In Bhutan, $15 million in financing with a CAT-DDO will support reforms to manage climate and disaster risks, including disease outbreaks. This site uses cookies to optimize functionality and give you the best possible experience. In India, a $400 million project will help the government develop an institutional framework to manage the Ganga river basin and finance investments that address pollution in the basin’s urban areas. Again, fundamental to making this sub-region an economic growth node for south Asia; overall, if we look at the numbers, it is quite extraordinary," he said. regional growth is expected to contract by 7.7 percent in 2020, after topping 6 percent annually in the past five years. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. Rainfall is becoming more erratic: some areas will experience more droughts, others more rain. According to the latest South Asia Economic Focus Beaten or Broken? The World Bank and Elsevier collaborated on the following report to examine research and collaboration in South Asia and beyond. World Bank support has helped South Asia … True, the scale of the deadly epidemic across South Asia seems smaller compared to Western countries: India, the world’s second-most populous country, reported 1,860 active cases as of today; Nepal has recorded zero official deaths. The World Bank, Parley for the Oceans, and SACEP will help South Asia curb marine plastic pollution and ramp up eco-innovation. a broad audience the results ofresearch on development policy issues carried out by staff ofthe World Bank. Four years ago, Nepal was reeling from a devastating earthquake that claimed thousands of lives. The East Asian Miracle is the summary ofthat program of research. It will be implemented in all 36 state districts and benefit over 1 million farming households. A new World Bank report, South Asia’s Hotspots, finds that average temperatures in the region have increased in the last sixty years and will continue rising. Gerald Ollivier. Global data and statistics, research and publications, and topics in poverty and development, PLASTIC FREE RIVERS AND SEAS FOR SOUTH ASIA, Environmental and Social Policies for Projects, Exports to Jobs: Boosting the Gains from Trade in South Asia. Countries need to reimagine the delivery of essential services, such as health, education and social protection to protect their people better against future shocks. This report examines food and overall inflation trends in South Asia, which is experiencing relatively high inflation, and is home to a large number of poor. In 2015, approximately 281 million people in the region were malnourished. This time is different, as private consumption, traditionally the backbone of demand in South Asia and a core indicator of economic welfare, will decline by more than 10 percent, further spiking poverty rates. In 2020, South Asia is set to plunge into its worst-ever recession as the devastating impacts of COVID-19 on the region’s economies linger on, taking a disproportionate toll on informal workers and pushing millions of South Asians into extreme poverty. The query also holds learning outcome data from international learning assessments (PISA, TIMSS, etc. The World Bank’s recent report “A Glass Half Full: The Promise of Regional Trade in South Asia” gets to the bottom of this. Informal workers are at risk and millions may fall into extreme poverty. The slowdown has been severe in South Asia, which in recent quarters was no longer the fastest growing region in the world. South Asia’s Hotspots finds that higher temperatures and shifting precipitation patterns will reduce living standards in communities across South Asia—locations that the book terms “hotspots.” More than 800 million people in South Asia currently live in communities that are projected to become hotspots under a carbon-intensive climate scenario. The Bank supports cross-border trade, transport and energy connectivity, long-term water security, environmental sustainability, and resilience in South Asia, which remains one of the world’s least economically integrated regions. In India, an $80 million project will improve water management and increase agricultural productivity for more than 400,000 smallholder farmers, women, and pastoral communities in Himachal Pradesh. ), equity data from … We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. These … South Asia is set to plunge into its worst-ever recession in 2020 as the devastating impacts of COVID-19 on the region’s economies linger. If you continue to navigate this website beyond this page, cookies will be placed on your browser. It ap­ pears as the first in a series ofPolicy Research Reports, which are intended to bring . In the Dark: How Much Do Power Sector Distortions Cost South Asia? These projects will increase the quality and uptake of health services, improve early childhood education, provide learning opportunities for children in primary and secondary school, and establish more efficient economic and social inclusion programs. In Afghanistan, a $99 million financing package is supporting two gas-to-power energy projects to increase the amount of electricity generated domestically while leveraging private financing for the energy sector. In Bangladesh, the $100 million Municipal Water Supply and Sanitation Project will help provide access to cleaner water sources and sanitation services for at least 600,000 people. The report warned that the pandemic will reinforce inequality in the region. It includes 40 surveys covering 8 countries. This work is funded by the Energy Sector Management Assistance Program (ESMAP), a multi-donor trust fund administered by The World Bank … This combination of factors helped attract more than 700 foreign investors from over 300 companies representing 40 countries at the Nepal Investment Summit, organized by the government in March 2019. South Asia Chief Economist Office Macroeconomics, Trade and Investment Global Practice. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Global action to reduce greenhouse gas emissions will reduce the … Latest news and information from the World Bank and its development work in South Africa. The World Bank and the International Finance Corporation, collectively The World Bank Group, have provided this Global Solar Atlas in addition to a series of global, regional and country GIS data layers and poster maps, to support the scale-up of solar power in our client countries. By increasing the use of e-commerce, the region could help increase competition and firms’ productivity, increase market access, and strengthen commercial linkages between countries. India’s economy, the region’s largest, is expected to contract by 9.6 percent in the fiscal year that started in March 2020. Find out what the Bank Group's branches are doing. In previous recessions, falling investment and exports led the downturn. And growth should further strengthen to 7.1 percent on average in 2019-20, reflecting an improvement across most of the region. The report examines both short-term and longer-term … In most South Asian countries, growth is expected to be below long-run averages this year but there is significant diversity evident in the high frequency data of industrial production. to All three can create jobs and fight poverty. South Asia’s economic outlook is grim The region is set to plunge in 2020 into its worst-ever recession as the devastating impacts of COVID-19 on South Asian economies linger on. South Africa; South Sudan; Spain; Sri Lanka; St. Kitts and Nevis; St. Lucia; St. Martin (French part) St. Vincent and the Grenadines; Sudan; Suriname; Sweden; Switzerland; Syrian Arab Republic; T. … There are many more poor people who are net buyers of food than there are those who benefit from higher prices of agricultural products even in the predominantly rural countries of South Asia. South Asia is again the fastest growing region in the world. The indicators cover the education cycle from pre-primary to tertiary education. The cutoff date for this report was April 9, 2018. Fostering resilience to conflict and climate change. For the first time in decades, Nepal also has a stable, majority government to carry out a long-term development vision. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The South Asia Micro Database (SARMD) is a regional database of socio-economic indicators established in 2014 managed by SARTSD. In India, a $210 million project in the state of Maharashtra will help smallholder farmers access emerging domestic and export markets, increase private sector investment in agricultural value chains, increase productivity, respond to price fluctuations, and build crop resilience. World Bank support has helped South Asia achieve the following results, among others: SPOTLIGHT: MAKING NEPAL AN ATTRACTIVE DESTINATION FOR INVESTMENT. As a result, informal workers are at risk and millions of South Asians may fall into extreme poverty. "In our part of the world, we have numbers that are far below those potential. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. In Nepal, we provided an additional $200 million to the Earthquake Housing Reconstruction Project. To create a more resilient future, countries need to sustain businesses and support job creation. Report by the World Bank and Elsevier. Toward Great Dhaka: A New Urban Development Paradigm Eastward, South Asia Hotspots: Impacts of Temperature and Precipitation Changes on Living Standards, Office of the Chief Economist, South Asia Region (SARCE). In Bangladesh, we approved three operations totaling $350 million to help address the needs of host communities and displaced Rohingya. February 02, 2021 | Nadeera Rajapakse. Today, its future looks considerably brighter. Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. Global data and statistics, research and publications, and topics in poverty and development, Environmental and Social Policies for Projects, Municipal Water Supply and Sanitation Project, Earthquake Housing Reconstruction Project, Unleashing E-Commerce for South Asian Integration, achieve gender parity in school enrollment, Office of the Chief Economist for South Asia Region, Beaten or Broken? The World Bank Group works in every major area of development. As it paves the way for recovery, South Asia can sustain high growth only if investments and exports both grow stronger. A $50 million regional project will support a partnership to fight plastic pollution in transboundary river systems and the region’s shared seas. Through three projects, we will provide nearly 4 million people with access to health, nutrition, and family planning services and address gender-based violence through preventive and response services. to . According to our latest South Asia Economic Focus, growth in the region is projected between 1.8 and 2.8 percent this year, down from 6.3 percent projected six months ago and potentially the lowest in four decades.
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