Israel | World Bank

Doing business 2010 : Israel - comparing regulation in 183 economies

Doing Business 2010 is the seventh in a series of annual reports investigating regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 183 economies, from Afghanistan to Zimbabwe, over time. This paper presents the summary Doing Business indicators for Israel. The paper includes the following headings: introduction and aggregate rankings, starting a business, dealing with construction permits, employing workers, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, closing a business, and Doing Business 2010 reform.

Doing business 2009 : country profile for Israel - comparing regulation in 181 economies

Doing Business 2009 is the sixth in a series of annual reports investigating regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 181 economies, from Afghanistan to Zimbabwe, over time. This paper presents the summary Doing Business indicators for Israel. The paper includes the following headings: introduction, starting a business, dealing with licenses, employing workers, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, and closing a business.

The World Bank Group Reinforces its Support to MENA Countries in response to the Global Financial Crisis

2009-07-24T20:02:08.000Z

Contacts

In Washington:

Najat Yamouri

Office: 202-458-1340

nyamouri@worldbank.org

Dina Elnaggar

Office: 202-473-3245

delnaggar@worldbank.org

WASHINGTON, July 24, 2009 — The World Bank Group (the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation, and the Multilateral Investment Guarantee Agency) committed US$ billion 3.2 in fiscal year 2009 to MENA countries as they continue to manage the impact of the global financial crisis while maintaining the pace of reforms for economic growth, job creation and poverty reduction.

“In MENA, the need for rapid interventions and an early response to governments in the region was critical to ensure speedy recovery, and to mitigate the impact of the crisis on growth and poverty particularly in countries undergoing economic transition, political change and conflict affected countries,” said Shamshad Akhtar, Vice President for the Middle East and North Africa region. “Looking ahead, we will continue to build on the pace and momentum of our assistance to ensure that MENA countries broaden and deepen economic and social reforms to adhere to macroeconomic stability, achieve social cohesion and have the opportunity to benefit from global economic integration. Our focus will remain on supporting key macroeconomic policy reforms, investing in critical infrastructure as well as in human capital, and strengthening social safety nets, so that the hard-fought gains of reforms are not jeopardized.” The World Bank is also starting to foster regional cooperation through the Arab World Initiative which would facilitate greater economic stability and growth.

During fiscal year 2009 (July 1, 2008-June 30, 2009), the World Bank Group placed high priority on helping countries respond to the food, fuel, financial and economic crises. In terms of results, a number of operations were delivered which have already helped mitigate the impact of these crises on the poor. Examples include: financial support for the food crisis in Djibouti, Yemen and West Bank & Gaza in addition to the rapid response to the Yemen flood emergency situation, for which IDA provided a $35 million grant. In addition, several projects and technical assistance was provided to address bottlenecks and shortages as well as capacity development in the financial, infrastructure, food security, education and social protection sectors in Egypt, Jordan, Lebanon and Tunisia. Commitments from the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) to middle income and low income countries respectively totaled US$1.9 billion in fiscal year 2009, a record high for the World Bank portfolio in the MENA region.

“The rising demand from countries across the region for the World Bank’s financial and technical assistance is evidence of the enhanced partnerships that we are developing with countries across MENA, “ said Emmanuel Mbi, Director of Strategy and Operations in the MENA region. “We are doing our best to tailor our responses and instruments to the needs of our partners and to contribute to their efforts to encourage economic growth and to reduce poverty under such challenging conditions.”

IFC

IFC's investments in the Middle East and North Africa were around US$1.3 billion in 46 projects in 12 countries in fiscal year 2009. IFC's Advisory Services increased its expenditure to more than $19 million, up substantially from $5.7 million four years ago to support private sector–led growth in the region. To address the effects of the financial crisis in the region, IFC offered investment and advisory services products to support clients in these challenging times. For example, IFC worked closely with many of its client banks across the Middle East and North Africa region to assist them in structuring robust risk management systems to help reverse the decline in trade flows in the region, IFC provided around US$500 million of trade finance to banks in Afghanistan, Jordan, Lebanon, Pakistan, West Bank/Gaza, and Yemen.

“In laying out his vision for the World Bank Group, President Robert Zoellick has suggested six strategic themes. One of them is to help advance development and opportunity in the Arab world. During this year we focused our financial strength and global expertise to bring investment and advisory solutions where they are needed most, especially in less developed countries and countries affected by conflicts. The success of our investments is demonstrating the viability of these markets. This in return contributes to the broader goal of spurring economic growth and creating much needed jobs in a region with high unemployment rates," said Michael Essex, IFC Director for the Middle East and North Africa.

MIGA

In the MENA region, MIGA is facilitating investments that can help countries overcome their over-reliance on oil income, while creating jobs and supporting the private sector as they make investments inside and outside the region. Since 1988, MIGA has issued nearly US$1 billion in guarantees in the Middle East and North Africa region, as well as some US$881 million in guarantees to MENA-based companies and banks investing in developing countries outside the region.

In October, 2008, Iraq joined MIGA. "There is a growing business interest in investing in Iraq. However the business climate is not yet there,” said Izumi Kobayashi, MIGA’s Executive Vice President. “We are tailoring our instruments to enhance our responsiveness to support Iraq and other MENA countries in managing a stable economy and promoting private sector investments in a developing business environment,” she added.

Consultations on the Bank Web Site

2008-12-09T15:37:38.000Z

Dear reader,

A few years ago, the World Bank’s Web site was noted as a leader among development organizations’ websites. As technology has rapidly advanced and user expectations evolved, our Web site too needs to change and adapt.

You come to our Web site because you are looking for the latest information on development. Our project information, data and research assist you in tackling your challenges or keeping up on the Bank’s activities.

Now we’re catching up. We are revamping our Web site and expanding our online capabilities to better satisfy our business needs and meet audience demands.

We’re examining all aspects of the site—content, technology, business needs and audience demands—to figure out what needs to stay, be improved or be removed.

This is a complex undertaking. We are currently gathering information to determine requirements for our future site.

Through our open online consultation, we are looking for comments from anyone who wishes to discuss their information needs and any difficulties they encounter with the site. The online consultation period ends on December 31, 2008.

All feedback we receive will inform the future design and functionality of the Web site by informing Bank management on audience needs.

Our ultimate goal is to make the Web site better support the institution’s mission of fighting global poverty and helping countries develop.

Your feedback will bring us closer to this goal.

Thank you,

Angie Gentile
Managing Editor, www.worldbank.org

Global Food and Fuel Crisis Will Increase Malnourished by 44 Million

2008-10-08T17:30:00.000Z

Contacts:
In Washington :Carl Hanlon 202-473-8087; chanlon@worldbank.org;
Philip Hay 202-473-1796
phay@worldbank.org

WASHINGTON, October 8, 2008 – High food and fuel prices will increase the number of malnourished people around the world in 2008 by 44 million to reach a total of 967 million, a report from the World Bank says.

While food and fuel price increases may have moderated in recent months, prices remain much higher than previous years and show few signs of declining significantly, according to the report entitled “Rising food and fuel prices: addressing the risks to future generations”. Poor families around the world are being pushed to the brink of survival, causing irreparable damage to the health of millions of children. As families cut back on spending, there are also grave risks for the educational performance of poor children.

“While people in the developed world are focused on the financial crisis, many forget that a human crisis is rapidly unfolding in developing countries. It is pushing poor people to the brink of survival,” said World Bank Group President Robert B. Zoellick. “The financial crisis will only make it more difficult for developing countries to protect their most vulnerable people from the impact of rising food and fuel costs.”

The report, due to be presented on Sunday to the Development Committee at the Annual Meetings of the World Bank and IMF, says the food and fuel crisis could have long term effects on poor people and countries. Malnourished children cannot develop into healthy adults and become productive members of society who can contribute to the growth needed to lift themselves and their country out of poverty.

The report says priority should be given to a series of targeted measures. These include:

Making existing targeted cash (or near cash) transfer programs more generous;
Getting nutrition to infants and pregnant women;
expanding so-called ”in-kind” food distribution programs including school feeding and the distribution of fortified calorically dense food;
using fee waivers, lifeline-pricing and other forms of targeted subsidies for poor users/consumers; and
introducing additional measures to prevent children from dropping out of school, such as fee waivers, subsidies for school inputs, or cash transfers.

The report also argues that allocating the necessary amount of budget to finance an expansion of safety net programs may require pruning less-priority spending in other areas. But it notes that well-designed safety net programs do not have to be prohibitively expensive to be effective. Some of the most successful programs in the world cost well under 1 percent of Gross Domestic Product. Moreover, investing in safety net programs now will give governments new tools to address not just the current crisis, but future ones as well.

In May, the World Bank launched a $1.2 billion rapid financing facility to help poor countries cope with the food crisis. Since then, around US$850 million has been committed to finance seeds, plantings, and feeding programs. In April, Zoellick called for a New Deal for Global Food Policy that included short, medium and long-term measures to provide immediate help to poor people and farmers while increasing food production.

###

For more information on the Bank's work in nutrition, please visit: www.worldbank.org/nutrition

and for more on social safety nets, click here: www.worldbank.org/safetynets

MENA Economies Are Growing but Need to Continue With Structural Reforms to Keep Up In an Increasingly Competitive World

2008-06-30T18:00:00.000Z

Contact:

Omer Karasapan

(202) 473-8177

okarasapan@worldbank.org

Washington June 30, 2008 — According to MENA Economic Prospects and Developments 2008, the GDP of the MENA region grew by 5.7 percent in 2007, marking the fifth year in a row that average growth was above 5 percent. While this is impressive in relation to past performance, it is lower than growth achieved in most other parts of the developing world. To keep up in an increasingly competitive global environment, the region will have to continue to make structural reforms in business climate, trade policy and governance.

"Despite notable improvements in the business climate in some countries such as Egypt and Saudi Arabia, as a whole the region has failed to keep pace with business climate reforms elsewhere," said Carlos Silva (Lead Economist). He added: “Regardingtrade reforms, substantial progress has been made in reducing tariffs and the time required for import and export processing yet non-tariff barriers remain high and many aspects of trade logistics performance, reflecting the quality of customs, ports and transport arrangements, still need to be addressed.”

The report notes that progress with regard to governance has been mixed. On the one hand, the quality of public administration remains relatively high in MENA, ranking above East Asia, Latin America, South Asia and Sub-Saharan Africa. On the other hand, the quality of public accountability remains relatively low in MENA, ranking below all other regions of the world. However, in terms of reform efforts devoted to improving accountability, MENA ranked in the 67^th percentile, above all other regions. This reflects a range of recent improvements in combating corruption, addressing weaknesses in the judiciary, improving property rights, and streamlining bureaucracy, especially among the GCC countries.

On the impact of rising food prices, Farrukh Iqbal (Sector Manager) said that this varies from country to country: "Low income countries that are relatively big food importers in terms of proportion of imports and consumption are at highest risk: examples include Djibouti and Yemen.” He added: “Some countries are feeling the pressure of increasing food prices directly in national budgets. For example Egypt, Iran, and Syria have seen food subsidies claim shares of between 4 - 8 % of their budgets in 2007. Among GCC countries, the main manifestation of food price increases has been in inflation."

The thematic focus of this year’s report is intra-regional integration. This is viewed not just as a set of preferential trade agreements but also as a means to foster the flow of labor, capital and investment. The report suggests the adoption of a paradigm of open regionalism in which regional preferences would be used as stepping stones for global integration and competitiveness.

###

New report on economic growth offers lessons on achieving sustained, high economic growth

2008-05-21T17:11:32.000Z

Contacts:

In Washington:

Maya Brahmam at +1-202-473-6231 or email at mbrahmam@worldbank.org

WASHINGTON, May 20, 2008 – The World Bank Group welcomes a new report by the independent Commission on Growth and Development, a global panel of eminent experts, which reveals important lessons from countries that have achieved high, long-term economic growth. The experts say the lessons learned could help policy makers in developing countries as they seek to set their countries on a steady growth path.

The Growth Report: Strategies for Sustained Growth and Inclusive Development says integration into the world economy, maintaining high rates of savings and investment, and committed, capable governments are among the key features of countries that have sustained growth rates above 7 percent for 25 uninterrupted years since World War II.

"This report underscores to the development community that one size doesn’t fit all." said World Bank Group President Robert B. Zoellick. I am especially pleased that it draws on input from first class practitioners and leaders who have hands-on pragmatic and practical experience of making inclusive development a success. This will help enrich the thinking and practice of the World Bank Group as well as others in the development field.” “

High, long-lasting growth is not easily achieved, but the report by some of the world’s top policy-makers and thinkers, believes it can be reproduced in developing countries, giving them a chance to reduce poverty and improve opportunity and quality of life for their citizens.

“We are acutely aware that there are no silver bullets to create long-running, inclusive growth, and that no single paradigm exists,” says Commission Vice Chair Danny Leipziger, who is also Vice President for Poverty Reduction and Economic Management at the World Bank. “While seeking to identify those key elements that can lead to long running and inclusive growth, the report is clear that policy makers will need to customize and experiment with polices rather than follow any rigid set of guidelines.”

Commission Chairman Michael Spence said: " What makes the report so unique is that it was prepared by policymakers, many from developing countries, who have been in the trenches themselves and have learned what works and why. It is these commissioners who are now providing their insights to the next generation of policymakers on ways to improve growth prospects and the quality of life in the poor parts of the globe."

Spence is one of two Nobel Laureates on the 21-member commission comprising leaders from business, government and academia. The Commissioners come from 18 countries that include a broad mix of developing, emerging and developed economies, as well as small island states and populous, large countries.

###

To download full report click here:

http://www.growthcommission.org/

World Bank Broadens Transport Agenda

2008-05-21T17:00:00.000Z

Contacts
In Washington:
Roger Morier (202) 473 5675, rmorier@worldbank.org
Anna Piasecka (202) 458 7027, apiasecka@worldbank.org

WASHINGTON, D.C., May 21, 2008 – The World Bank Group today launched a new transport business strategy for 2008-2012 that will help partner countries establish the governance, strategies, policies and services to deliver transport for development in a way that is economically, financially, environmentally and socially sustainable.

Called Safe, Clean, and Affordable… Transport for Development, the business strategy strengthens the alignment of the transport sector approach with the Millennium Development Goals adopted by the United Nations in 2000. At the same time, it widens the directions and deepens the routes that will be taken to meet the evolving development agenda. It gives more attention to emerging trends, such as trade globalization, urbanization of populations; rising concerns about climate change, the increase in traffic congestion; and the recognition of access as a key to both economic opportunity and good governance.

“In striving to achieve its development objectives—and foremost to eradicate poverty—the World Bank Group is mobilizing the transport sector to the fullest possible extent,” said Katherine Sierra, World Bank Vice President for Sustainable Development. ”To that end, the transport business strategy aligns Bank Group instruments along a few key strategic directions that will pave the way to truly sustainable development, one where transport plays a crucial role.”

“In a world with rising levels of greenhouse gases, poor road safety, and the too-frequent spread of communicable diseases along international routes, transport must be looked at anew. A coherent way forward requires innovative thinking and cooperation among sectors to optimize the role of transport without jeopardizing personal and commercial mobility.”

The Bank Group consulted widely in preparing its new business strategy, seeking contributions from over 75 transport development partners, governments, professional institutions, civil society organizations, multilateral and bilateral donors, and putting an early draft on its external website for four months to elicit public comments.

Safe Transport
Acknowledging the importance of transport for achieving public health outcomes within the Millennium Development Goals, the strategy stresses the need to mitigate the spread of HIV/AIDS, and to address safety in all transport modes, especially road transport. It also addresses the safety issue in air transport which, although globally much safer, still shows a safety record significantly affecting growth and investment prospects in some regions, in particular Sub-Saharan Africa. Transport and supply-chain security has also become a major issue in ensuring fair access of developing country exports to developed markets, and needs to be addressed as a new global public good.

“Road crashes kill an estimated 1.2 million people a year and injure 50 million more, disproportionately affecting the poor,” said Anthony Bliss, Lead Road Safety Specialist, Program Coordinator for the World Bank’s Global Road Safety Facility. “We are placing special emphasis on road safety, extending our support to include not only road safety components embedded in road infrastructure projects, but also larger stand-alone projects to formulate national policies and strategies that would improve road safety across the board. We will also pursue cross-sectoral approaches, such as including pre-hospital components in road programs and road safety components in health programs.”

Clean Transport
Urban air pollution, 90 percent of it generated by motor vehicles, kills an estimated 800,000 people each year. Transport now produces approximately 15 percent of global greenhouse gas emissions. Reflecting the contribution of transport to the wider environmental aims of the Millennium Development Goals, the strategy encompasses the transport-energy-environment nexus, from the energy consumption to the emissions and climate change impact perspectives. Going forward, the World Bank Group will be working to help restrain transport energy consumption. It will be assessing and controlling transport projects emissions, favoring shifts to low carbon modes.

“We are setting guidelines for environmentally effective transport planning and decision making,” said Jamal Saghir, Director, Energy, Transport and Water Department and Chair of the Transport Sector Board. “We are seeking ways to mitigate the effects of transport on the climate—and the effects of climate change on transport asset. We intend to build climate change issues into transport project appraisals where appropriate.”

Affordable Transport
An estimated 1 billion people in low-income countries lack access to an all-weather road. Affordable transport can enhance mobility and inclusion. It can promote social, economic, and political integration, by keeping a country together despite geographic disparities, by overcoming potential disputes over access to resources, and by defusing the seeds of conflict that sometimes arise from feelings of isolation.

Marc Juhel, Sector Manager for Transport stressed the fact that affordability concerns not only the rural and urban poor, but also the whole freight economy, aiming at improving competitiveness to foster stronger economic growth:

“The strategy stresses the need for better knowledge and control of transport costs, for both passengers and freight, on domestic and regional, urban and rural settings. The implementation of an effective urban transport strategy, reaching out to the growing urban poor population, is a key element of this approach. On the freight side, the cooperative work on trade and transport facilitation—in particular on customs and transit issues—will be strengthened.”

World Bank contribution to transport over previous decade
Since the Bank’s 1996 transport strategy, Sustainable Transport, was endorsed by the World Bank’s Board of Directors, the Bank Group has committed around US$42 billion for more than 530 dedicated transport operations and transport components in over 500 non-transport specific projects in more than 100 client countries. Lending in fiscal year 2007 (July 1, 2006 – June 30, 2007) reached over US$5 billion, amounting to 20 percent of World Bank Group new annual commitments.

###

View the transport business strategy—Safe, Clean, and Affordable… Transport for Development at: http://www.worldbank.org/transport

World Bank Group President Appoints Vice President of Institutional Integrity

2008-05-05T18:00:00.000Z

Contacts:
In Washington: Carl Hanlon (202) 473 8087
chanlon@worldbank.org

WASHINGTON, D.C. May 5, 2008 – World Bank Group President Robert B. Zoellick has named South African Leonard McCarthy to head the Bank’s Department of Institutional Integrity (INT). McCarthy has earned international recognition for investigations and prosecutions of individuals engaged in corruption as head of South Africa’s Directorate of Special Operations.

“Leonard McCarthy is recognized worldwide for his integrity, independence, and effectiveness in fighting corruption and strengthening good governance,” says Zoellick. “This is the first time that the Department of Institutional Integrity will be headed at the level of Vice President, and McCarthy brings to the post stature, skill, and tested experience. This post is critical for our work, reputation, and fiduciary duty. I am confident that he will bring effective leadership to our highest obligation to protect the Bank’s assets and hold people, businesses, and governments responsible if they steal from the poor.”

McCarthy’s work with South Africa's National Prosecuting Authority has included investigating and prosecuting high profile cases of financial crime, organized crime, and high-level corruption. He has worked closely with African governments and law enforcement officials across the globe to expose and prosecute transnational financial crime. McCarthy was formerly a Director of Public Prosecutions appointed by President Nelson Mandela.

An experienced trial lawyer, he has held numerous positions in government, including Investigating Director in the Office for Serious Economic Offenses, Deputy Attorney General in Cape Province and Senior Public Prosecutor. He holds a Bachelor of Laws Degree from the University of South Africa in Cape Town.

Following talks with the South African government, President Mbeki has agreed to release McCarthy from service, to take up the position at the World Bank on June 30, 2008.

“I am honored to receive this appointment and to be joining the World Bank, I believe strongly in its vision, said McCarthy. “President Zoellick has made clear to me the strong emphasis he places on INT’s role, its need for strong, highly skilled people who will both pursue investigations and integrate anti-corruption work into Bank projects across the world. I am committed to delivering results and building on INT’s work to strengthen financial due diligence and ensure that precious development resources benefit people who need them most.”

McCarthy was selected from a list of candidates assessed by an internal search committee with the addition of former Federal Reserve Chairman Paul Volcker, who led a review of INT last year. In his report Volcker called for greater attention to protect against corruption in designing and implementing Bank programs.

Mr. Volcker has welcomed the fact that: “the Bank is now implementing the recommendations of the Panel he chaired, importantly including elevating the head of INT to the level of vice president.”

###

World Bank Marks World Press Freedom Day with Study on Broadcasting and Development

2008-05-02T12:30:00.000Z

Contact:

In Washington: Christopher Neal, (202) 473-2049

Cneal1@worldbank.org

MAPUTO, May 2, 2008—The World Bank marked World Press Freedom Day by launching a study outlining conditions under which radio, television and online broadcasting can fulfil a vital role in development by making governments accountable, and giving voice to the world’s poor.

“Huge numbers of people, including those who can’t read, have access to broadcast media,” said Kreszentia Duer, of the World Bank Institute (WBI), who presented the study, Broadcasting, Voice and Accountability, at a conference here on freedom of expression hosted by UNESCO. “In countries with strong oral traditions, community broadcasting can enable people to share information and raise issues with a large audience, and hold government officials to account. This makes broadcasting a powerful tool for enhancing governance and promoting development.”

The 400-page study, subtitled A Public Interest Approach to Policy, Law and Regulation, is the result of five years of research by six media experts, including Ms. Duer, Steve Buckley, president of the World Association of Community Broadcasters; Toby Mendel, ARTICLE 19, Global Campaign for Free Expression; Seán Ó Siochrú, founder of the Campaign for Communication Rights in the Information Society; Monroe E. Price, of the Annenberg School for Communication at the University of Pennsylvania; and Marc Raboy, of Canada’s McGill University.

The study reviews broadcasting practices and regulations around the world, and identifies those which produce an “enabling environment” for broadcasting that is free, independent and pluralistic. These characteristics are essential, the report says, for broadcasting to perform an effective role in giving people voice, and ensuring government accountability.

Drawing from their research, the authors propose standards on freedom of expression, access to information, use and misuses of defamation law, content rules and limits to free speech, and the regulation of journalists. The study also offers guidelines on best practice for broadcast regulators, as well as the respective roles of public service, community non-profit, and commercial private sector broadcasters, all of which, it argues, should be present in a healthy media environment.

Co-author Steve Buckley notes that increased movement towards democracy in developing countries opens the way to build broadcasting that serves the public interest.

“Countries that are opening their economies, democratizing, and decentralizing public service delivery are looking for guidance on how to involve citizens in decisions that affect them,” he said. “Broadcasting, enabled by the right regulation and conditions, can empower groups through bottom-up participation.”

The book cites countries that have developed systems to enhance the quality and diversity of media content, while fully respecting freedom of expression, and identifies ways in which government regulation can expand access to broadcast media. Community broadcasting, for example, can be encouraged through special licensing arrangements that guarantee fair and equitable access to radio frequencies and financial support.

“This book focuses on useful proactive approaches to setting up, sustaining, and governing broadcasting systems across the world,” said Ruth Teer-Tomaselli, UNESCO Chair in Communication for Southern Africa at the University of KwaZulu-Natal. “It’s based on sound scholarship and provides practical advice for policymakers, media scholars and broadcasters alike.”

###

For more information, please visit:

http://web.worldbank.org/WBSITE/EXTERNAL/WBI/0,,contentMDK:21747844~pagePK:209023~piPK:207535~theSitePK:213799,00.html

To order: http://publications.worldbank.org/ecommerce/catalog/product?item_id=8100893

World Bank President Calls for Plan to Fight Hunger in Pre-Spring Meetings Address

2008-04-02T15:53:10.000Z

April 2, 2008—In a speech today, World Bank President Robert B. Zoellick called for a "new deal" to combat world hunger and malnutrition through a combination of emergency aid and long-term efforts to boost agricultural productivity in developing countries.

The "New Deal for a Global Food Policy" is part of a suite of initiatives Zoellick outlined to advance development in the face of skyrocketing food and oil prices. He also called for a global trade deal to be agreed as soon as possible, detailed an initiative to help countries manage their wealth earned from high energy and mineral prices in a more inclusive way, and encouraged sovereign wealth funds to create a "One Percent Solution" for equity investment in Africa.

Agricultural Assistance

The World Bank will nearly double agricultural assistance to US$800 million in Africa. Zoellick also urged wealthy nations to help the UN’s World Food Program meet some $500 million in emergency food needs.

"The United States, the European Union, Japan and other OECD countries must act now to fill this gap – or many more people will suffer and starve," Zoellick said in an address sponsored by the Center for Global Development in Washington.

Zoellick said the "New Deal for a Global Food Policy" is needed to combat the "forgotten" Millennium Development Goal of overcoming malnutrition. Only about a tenth of the resources directed at HIV/AIDS goes to fight malnutrition, which causes 3.5 million deaths a year in children under 5 and has long-lasting impacts on health and achievement.

"Hunger and malnutrition are a cause, not just a result, of poverty," said Zoellick.

The World Bank estimates 33 countries face social unrest because of soaring food and energy prices.

The New Deal requires a shift from traditional food aid to a broader concept of food and nutrition assistance, such as cash or vouchers that can help build local food markets and farm production,.and create a "Green Revolution" for Sub-Saharan Africa, said Zoellick.

"This New Deal should focus not only on hunger and nutrition, access to food and its supply, but also the interconnections with energy, yields, climate change, investment, the marginalization of women and others, and economic resiliency and growth," said Zoellick.

"Food policy needs to gain the attention of the highest political levels, because no one country or group can meet these interconnected challenges."

Zoellick said the World Bank Group can help by:

Backing emergency measures that support the poor while encouraging incentives to produce and harvest food
Offering access to technology and science to boost yields
Helping countries counter weather-related risks, such as drought
Facilitating land-titling, local currency financing, working capital, distribution and logistics, and support for services on which farmers rely

"Income gains in agriculture have three times the power in overcoming poverty than increases in other sectors, and 75 percent of the world’s poor are rural, with most involved in farming," said Zoellick.

Trade Also Key to Lower Food Prices

Zoellick said the time was "now or never" to break the impasse in global trade talks. A "fairer and more open trading system" would encourage developing country farmers to expand production, he said.

"The poor need lower food prices now. But the world’s agricultural trading system is stuck in the past. If ever there was a time to cut distorting agricultural subsidies and open markets for food imports, it must be now."

An accord would give developing countries, big and small, more opportunities to become more productive and lower prices through trade. It would also infuse confidence in an economic system stressed by financial anxiety, he said.

However, "powerful voices across the political spectrum, including in my own country, are calling for, rationalizing, protectionism," Zoellick said. "This economic isolationism signals a defeatism that will reap the losses, not the gains, of globalization."

The trade talks are also a "critical test" for striking a global deal on climate change. "If negotiators of 150 economies cannot manage the political tradeoffs of the Doha Round to reap the clear benefits, it does not auger well for bringing developed and developing countries together on a new accord for climate change."

Sovereign Wealth Funds

Zoellick also outlined a plan to encourage emerging economies such as China, India and Brazil to invest about US$30 billion in African nations through government-sponsored wealth funds.

Such sovereign wealth funds currently hold about US$3 trillion in assets. They have come under scrutiny recently because of investments outside their own countries. Zoellick noted they need transparency and should be guided by best practices to avoid politicization, but "where some see sovereign funds as a source of concern, we see opportunity," said Zoellick.

The World Bank’s "One Percent Solution" involves creating the equity investment platforms and benchmarks to attract these investors, and allocating 1 percent of the assets to African growth, development and opportunity.

"This one percent could be the start of something much bigger, across more types of funds and countries, because the investment of wealth into equity for development offers opportunity, not something to fear."

Extractive Industries Initiative

Zoellick announced a new approach to help ensure that high energy and commodity prices translate into improvements in the lives of the poor.

The EITI++ builds on the transparency and good governance concepts of the existing multi-stakeholder Extractive Industries Transparency Initiative (EITI). EITI publicizes and verifies company payments and government revenues from oil, gas and mining. But many governments are emphasizing that transparent revenue reporting, while important, is not enough. The World Bank is therefore working with developing countries and other partners to frame a "comprehensive approach to supplement the original project."

EITI++ will include providing technical assistance to countries on the awarding of contracts, monitoring operations, collecting taxes, improving resource extraction and economic decisions, better managing price volatility, and investing revenues effectively in sustainable development.

An EITI++ approach will be launched in Guinea. "The successful development of Guinea’s rich resources can strengthen sustainable development for the entire region," Zoellick said.

"The EITI++ can advance inclusive and sustainable globalization by broadening the beneficiaries of resource development."

The project Agriculture Credit Project is now in the pipeline.

2007-10-25T04:00:00.000Z

The project Agriculture Credit Project is now in the pipeline. To see more information, see the project information in the World Bank project database

The project, which would cover the last three years of Israel's Five-Year Development Plan (1968-1973), has three main objectives: (i) developing the production of export crops (off-season flowers and vegetables, avocadoes, tangerines and mangoes); (ii) increasing the capacity of export handling facilities; and (iii) developing better use of existing water resources. Investment would be in greenhouses, hot-houses, planting material, packing and handling plants, new or improved on-farm irrigation facilities, and small reservoirs and drainage works. Total cost is estimated at $50 million. Twenty percent of cost would be borne by the investing farmer. The participating banks and the Government would contribute 20 percent each, and the balance of 40 percent, corresponding to the estimated foreign exchange component, would be covered by the proposed Bank loan of $20 million.

The project Agriculture Credit Project (02) is now in the pipeline.

2007-10-25T04:00:00.000Z

The project Agriculture Credit Project (02) is now in the pipeline. To see more information, see the project information in the World Bank project database

The project would assist the development of export crops, export handling facilities, livestock and water through subloans; project-related research also would be conducted.

The project Highway Project is now in the pipeline.

2007-10-25T04:00:00.000Z

The project Highway Project is now in the pipeline. To see more information, see the project information in the World Bank project database

The Highway Construction and Improvement Project for Israel is designed to meet the needs of the increased population. New towns are being built, unused land is being bought, immigration continues to increase, and tourism is expected to grow steadily. The current rising living standards are causing an increase in private car ownership which results in traffic congestion. This project will consist of reconstruction of roads, widening, surfacing, shoulder strengthening, as well as creating roads for easier access in order to handle the increased traffic flow of vehicles. The transportation demands are greatly influenced by the physical shape of the country, the location of economic activities, and the growth of the population and economy. This project will help prevent traffic congestion, car accidents, and meet the anticipated traffic demands of the future.

The project Highway Project (02) is now in the pipeline.

2007-10-25T04:00:00.000Z

The project Highway Project (02) is now in the pipeline. To see more information, see the project information in the World Bank project database

The road works included in the proposed project comprise about 63 percent of the Government's 1971-1975 highway program. None of them is located in occupied territories. Military traffic constitutes an insignificant fraction of total movement on the project roads and has not been taken into account in estimating traffic on them. The largest single project item is the first phase of the Ayalon expressway, designed as a collector for interurban traffic and a distributor for traffic through the main east-west arteries of Tel-Aviv. The other works, most of which are situated in the densely inhabited central part of the country, have been selected to eliminate bottlenecks, reduce travel distances and permit faster travel speeds. The loan would also finance some additional equipment for the Central Roads Laboratory of PWD for the testing of materials and soils, as well as weighing devices for a proposed axle-load study and for the enforcement of regulations regarding vehicle weights.

The project Industrial Development Bank of Israel Project (01) is now in the pipeline.

2007-10-25T04:00:00.000Z

The project Industrial Development Bank of Israel Project (01) is now in the pipeline. To see more information, see the project information in the World Bank project database

The proposed loan would assist the IDBI in providing finance to private enterprises in Israel.

The project Industrial Development Bank of Israel Project (02) is now in the pipeline.

2007-10-25T04:00:00.000Z

The project Industrial Development Bank of Israel Project (02) is now in the pipeline. To see more information, see the project information in the World Bank project database

The proposed loan would assist IDBI in financing private industrial enterprises in Israel.

The project Industrial Development Bank of Israel Project (03) is now in the pipeline.

2007-10-25T04:00:00.000Z

The project Industrial Development Bank of Israel Project (03) is now in the pipeline. To see more information, see the project information in the World Bank project database

The proposed loan would assist the Borrower in financing the foreign exchange costs of investments by productive enterprises.

The project Port of Ashdod Project is now in the pipeline.

2007-10-25T04:00:00.000Z

The project Port of Ashdod Project is now in the pipeline. To see more information, see the project information in the World Bank project database

The Port Development Project for Israel will construct a new port in the city of Ashdod. Traffic has increased greatly over the years through Israel's major ports of Haifa and Eliat. As a result, these ports have become burdened with high levels of traffic. The new port in Ashdod will alleviate heavy traffic and increase the efficiency of Israel's port system. The project components are: 1) construction of breakwaters; 2) dredging within the port area to proper depths for deep-sea ships; 3) building wharves of a length to accommodate five deep sea ships at once; 4) creating track and roadway within the port area, and rail links outside it to a construction quarry; 5) procurement of several transit sheds for citrus fruit and general cargo plus some paved open storage areas; 6)acquisition of port utilities and auxiliary structures and; 7) procurement of some harbor craft, cranes and mobile loading equipment. The development of a new port at Ashdod will improve the efficiency and productivity of Israel's port system.

The project Potash Production Project - Dead Sea Works is now in the pipeline.

2007-10-25T04:00:00.000Z

The project Potash Production Project - Dead Sea Works is now in the pipeline. To see more information, see the project information in the World Bank project database

The Dead Sea Works Potash Project for Israel will increase the production of potash and bromine from the Dead Sea brine. Potash is one of the three major chemical fertilizers and this project will assist in its production. In addition, the Dead Sea Works (DSW) plans to add new facilities in order to produce dead burned magnesia (Magnesite), and table salt, as well as complete a number of minor projects, such as completion of an evaporating pan to increase potash, expansion and improvement of plant installations and pumping stations, drilling of additional fresh water wells, a warehouse at Eilat, laboratories and pilot plants, and an office building at Beersheba. Lack of adequate supplies of potash has prevented export to Asian and Africa markets but as production increases the DSW will concentrate on the development of its natural market area in these locations as well as other markets.

The project Sewerage Project is now in the pipeline.

2007-10-25T04:00:00.000Z

The project Sewerage Project is now in the pipeline. To see more information, see the project information in the World Bank project database

The proposed project is the first phase of the Borrower's National Sewerage Program designed to improve and modernize the country's sewerage facilities, in order to protect and preserve water resources and to improve public health and the investment. It consists of a program of investments in sewers, pumping stations, treatment works, disposal facilities and auxiliary works to be carried out by 75 local authorities and three regional town associations throughout Israel.

The project Industrial Development Bank of Israel Project (04) is now in the pipeline.

2007-10-25T04:00:00.000Z

The project Industrial Development Bank of Israel Project (04) is now in the pipeline. To see more information, see the project information in the World Bank project database

The project consists of three components: (i) provision of $25 million to meet part of IDBI's requirements for financing of the import component of specific industrial projects aimed at producing for export or located in less-developed regions; (ii) provision of $5 million to help finance imported equipment, materials and consultants' services estimated at 25 man-months required for: (a) strengthening the Government's capacity to appraise and supervise industrial R&D projects; (b) establishment of a basic R&D facility for the Negev R&D Authority; and (c) five R&D subprojects to develop a prototype non-convecting pond to collect and store solar energy; commercial cultivation of the jojoba bean and a family of commercial waxes derived from it; a telephone system for communities of between 100 and 400 subscribers; a family of engines compatible with a variety of energy sources; and a high-performance tomographic scanner; (iii) provision of $5 million to help finance expansion of: (a) three technician/practical engineering institutes; and (b) four vocational training centers.