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Middle East and North Africa

In the Middle East and North Africa region, financial flows in 2015 went against the global trend

Sun Hwa Song's picture

Now that the 2017 edition of International Debt Statistics (IDS) has been released, as a member of the team who put these statistics together, I thought I would look back at what the data tells us about financial flows into the Middle East and North Africa (MENA) region.

According to IDS 2015 data, net financial flows (debt and equity) to all low and middle income countries were only one third of their 2014 levels ($1,159 billion). In particular net debt flows turned negative (-$185 billion) for the first time since the 2008 financial crisis, while foreign direct investment (FDI) showed a marginal increase of $7 billion from $536 billion in 2014. These phenomena were observed in all regions but MENA.

The net debt inflows into the MENA region diverged from global trends. The inflows increased 84 percent from 2014. On the other hand, FDI recorded its lowest level since 2010.

Women driving the Middle East and North Africa forward, one business innovation at a time

Ayat Soliman's picture


Our continued belief in the enormous resourcefulness, resilience and sheer drive of young Arab women has yet again been reconfirmed. 

Pushing the development boundaries – Morocco’s intangible pathway to inclusive growth

Jean-Pierre Chauffour's picture
 Ermakova Nadezhda | Shutterstock.com

In his 2014 annual address known as the ‘Throne speech’, King Mohammed VI of Morocco focused on the less visible but critical aspects of development such as the quality of institutions, the quality of learning, and the quality of interpersonal relations in society. This speech set wheels in motion that have culminated in the launch of the 2017 Economic Memorandum, entitled Morocco 2040 – Emerging by Investing in Intangible Capital.

Iraq: Emergency Project Rebuilding Bridges, Roads, Water, Wastewater, Municipal services and Livelihoods

Ibrahim Dajani's picture


In eastern Iraq’s Diyala governorate, a bridge connects two cities—Baquba on one bank of the river and Muqdadya on the other. Nothing remarkable about that, you might think, until you know that this bridge had been blown-up by the Islamic State in Iraq and Syria (ISIS) cutting off the many Iraqis who commute between the two cities in quest of work or education.

Iraq Social Fund for Development: Optimism and the rebuilding of trust between citizens and the state

Ghassan Alkhoja's picture
Baghdad, Iraq - FlickR | Chatham House

Iraq is a country of riches… it is one of the few countries in the Middle East that has an abundance of mineral resources, in the form of oil and gas, as well as an abundance of water, with the mighty Tigris and Euphrates rivers streaming through the cradle of civilization. Along with this comes the sheer scale of human capital that was built over the centuries since the founding of Baghdad. It was said that “Cairo writes, Beirut prints, and Baghdad reads”.

Jobs in Africa: Designing better policies tailored to countries’ circumstances

Klaus Tilmes's picture

Dar es Salaam, Tanzania – one of the many cities in Africa that is expected to see sharp population increases – will need rapid job creation to keep pace with its swift population growth. The city’s new bus transit system – completed in 2015, with a $290 million credit from the International Development Association, the World Bank’s fund for the poorest countries – is now reducing transportation costs, easing traffic and promoting private sector development.
Photo: Hendri Lombard / World Bank


Africa’s working-age population is expected to grow by close to 70 percent, or by approximately 450 million people, between 2015 and 2035. Countries that are able to enact policies conducive to job creation are likely to reap significant benefits from this rapid population growth, according to the Africa Competitiveness Report 2017, co-produced by the World Bank Group, the African Development Bank, and the World Economic Forum. The report also warns that countries which fail to implement such policies are likely to suffer demographic vulnerabilities resulting from large numbers of unemployed and underemployed youth.

Between 2 Geeks: Episode 5 - A renewable energy tipping point?

Tariq Khokhar's picture

Which World Bank financed project can you see from space, and on Leonardo DiCaprio’s Instagram?

As Raka and I found out in this episode, it’s the “Noor Ouarzazate Concentrated Solar Power Plant” in Morocco - an epic energy project that’s part of the country’s plan to have 42% of its energy mix come from renewables by 2020.

Seriously, it’s epic: just look at these pictures from CNN and this World Bank video.

Renewable energy seems to be getting cheaper than ever, and we ask the question: are we reaching a “tipping point” where renewable energy is cheaper to produce than energy from fossil fuels.

In our discussion with Mafalda Duarte, head of the $8.3 billion Climate Investment Funds (CIF), I learned that renewable energy (in this case, concentrated solar power) is a bit more complicated than just finding somewhere sufficiently sunny or windy. For example, the concentrated solar power (CSP) technology being used in Noor Ouarzazate is relatively new and so more expensive. With the investment CIF is making, the cost of the CSP technology can be driven down, and the tipping point reached faster for other countries wanting to adopt the technology.

So what are the issues of geography, politics, technology and economics when it comes to large scale renewable energy, and how can we influence them to help countries reach the tipping point where renewable energy becomes the best option?

This episode of Between 2 Geeks is hosted by Tariq Khokhar & Raka Banerjee, and produced by Richard Miron. You can chat with us on twitter with the hashtag #Between2Geeks, listen to more episodes on the World Bank Soundcloud Channel and subscribe to “World Bank’s Podcasts” in your podcast app or on iTunes.

Remittances to developing countries decline for an unprecedented 2nd year in a row

Dilip Ratha's picture
We just launched the latest edition of the Migration and Development Brief and an accompanying Press Release.
 
Remittances to developing countries decreased by 2.4 percent to an estimated $429 billion in 2016. This is the second consecutive year that remittances have declined. Such a trend has not been seen in the last 30 years. Even during the global financial crisis, remittances contracted only during 2009, bouncing back in the following year.

Iraqi women join forces in reconstructing their country

Jocelyne Jabbour's picture


During wars, it is widely recognized that women and young people are the primary victims. Women are vulnerable to exploitation, abuse, sexual slavery, and forced recruitment into armed groups. Yet as the survivors of violent conflicts, women find reconstruction, as a window of opportunity to take a leading role in this operation. With determination and courage, they return to destroyed communities and actively, begin rebuilding infrastructure, restoring and developing traditions, laws, and customs.

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