Building Human Capital: A Project for the World

Months after World Bank President Jim Kim announced the Human Capital Project, global leaders gathered in Washington to discuss the urgent and critical importance of investing in people to prepare countries for the economy of the future.

Peking University Education Finance Research Team Visits World Bank Washington Headquarters, USA  On the afternoon of April 9, 2018, the CIEFR research team of Peking University visited the headquarters of the World Bank (World Bank) and related issues related to the investigation of family education expenditure in China Communication. The exchange meeting was hosted by Mr. Harry Patrinos, head of education of the World Bank’s East Asia and Pacific Region. Professor Wang Rong, director of the China Institute of Educational Fiscal Science at Peking University, made a presentation entitled “The Real Costs of Education: Household Financing of K12 Education in China. The keynote speech of Revealed through CIEFR Household Survey” introduced the results of research on Chinese family education expenditure…

World Bank East Asia and Pacific Economic Update Bi-annual analysis of economic trends and prospects and policy challenges facing the region…As usual, the Economic Update – entitled Enhancing Potential — consists of three parts. Part I summarizes recent economic developments, and the outlook and policy challenges for the developing countries in East Asia Pacific. This overview is complemented by the country pages in Part III, which summarize the developments and outlook for individual countries in the region.  Part II examines in greater detail selected medium-term development issues relevant to the region. The two topics included in this Update are: Growing Smarter: Learning and Equitable Development in East Asia and Pacific; and The Future of Manufacturing-Led Development in East Asia.

China set for fewer World Bank loans in US fundraising deal  The World Bank is set to change its lending model so that China will receive fewer loans as part of a deal with the Trump administration to secure its backing for a $13bn capital increase. The compromise was reached between Jim Yong Kim, the bank’s president, and Steven Mnuchin, US Treasury secretary, in recent days. It is expected to dominate talks behind the scenes at this week’s spring meetings in Washington. The bank has committed to lending to poorer economies in exchange for US backing for a plan by which shareholders would inject $7.5bn into the International Bank for Reconstruction and Development, the World Bank’s main unit, and a further $5.5bn into the International Finance Corporation, its private sector arm. Countries such as China would enter a new lending band that would charge higher rates for loans…

World Bank capital boost does not specify China lending cut: Kim  World Bank President Jim Yong Kim said on Thursday that a plan to strengthen the multilateral lender’s capital base does not specify reductions in loans to China or any other countries, but added that lending to lower-middle-income countries would expand over time…

Mindanao Trust Fund gets boost  The World bank-managed Mindanao Trust Fund (MTF) received fresh funding from two foreign sources which would be used to build new socioeconomic infrastructure and improve literacy in conflict-affected areas. Established in 2006, the MTF consolidates international development assistance for the socioeconomic recovery of conflict-affected communities in Mindanao supports the normalization process with the Moro Islamic Liberation Front. It receives support from various development partners including Australia, Canada, European Union, Sweden, New Zealand, and the US…

Investments in infra, human capital needed for Philippines to achieve inclusive growth
The Philippines should focus on investing in infrastructure and human capital to ensure inclusive growth moving forward, the World Bank said Monday. “Really prioritizing this time that investments for the physical construction and human capital, and this will create better opportunities for the poor,” Birgit Hansl, lead economist for the Philippines, said in a press briefing in Taguig City. Hansl noted one of the most pressing issues in the country is inclusive growth, as most individuals do not have a sense of benefiting from economic growth. The Philippine economy grew at an average of 6.7 percent in 2017, consistent with the government’s target of 6.5 to 7.5 percent…

World Bank says Philippine human capital investments to counter overheating
The Philippines needs more investments in infrastructure and human capital, particularly upgrading the skill sets of workers for higher-paying jobs to be able to counter risks of an overheating economy, the World Bank Group said…

Uganda to borrow $412 mln from China and World Bank for health, education projects  Uganda said on Tuesday it intends to borrow a total of $412 million from the World Bank and China’s Exim Bank to fund projects in education, health and energy sectors…