text: World Point Terminals LP Company Profile (NYSE:WPT) Analyst RatingsEarningsDividendsInsider TradesCompany ProfileSocial ActivityToday's Chart Consensus Ratings for World Point Terminals LP (NYSE:WPT) (?) The ratings breakdown includes the most recent rating from each analyst that has rated the stock within the last twelve months. The ratings score is a calculation of the average number of sell, hold, buy and strong buy ratings (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). The consensus price target is a mean average of the most recent price target set by each analyst that has set a price target for the stock in the last twelve months.Ratings Breakdown: 2 Sell Rating(s), 2 Hold Rating(s), 2 Buy Rating(s)Consensus Rating:Hold (Score: 2.00)Consensus Price Target: $20.80 (22.28% upside) Analysts' Ratings History for World Point Terminals LP (NYSE:WPT) Show: All Ratings For This Stock Only the Most Recent Rating From Each Brokerage DateFirmActionRatingPrice TargetActions4/2/2015Bank of AmericaUpgradeNeutral -> Buy$22.00 3/31/2015StephensBoost Price TargetOverweight$22.00 -> $23.00 3/31/2015Credit SuisseReiterated RatingOutperform -> Underperform$24.00 -> $19.00 3/31/2015MLV & Co.Reiterated RatingHold 3/30/2015Citigroup Inc.Lower Price TargetOutperform -> Underperform$24.00 -> $19.00 3/30/2015Stifel NicolausDowngradeBuy -> Hold$21.00 11/14/2014Stifel NicolausLower Price TargetBuy$22.50 -> $21.00 10/15/2014Bank of AmericaDowngradeOutperform -> Neutral 8/14/2014Stifel NicolausReiterated RatingBuy$23.50 -> $22.50 4/4/2014Citigroup Inc.Initiated CoverageNeutral 3/28/2014Credit SuisseBoost Price Target$23.00 -> $24.00 12/17/2013WedbushInitiated CoverageOutperform$23.00 12/2/2013MLV & Co.Initiated CoverageHold 9/18/2013Citigroup Inc.Initiated CoverageNeutral 9/3/2013Bank of AmericaInitiated CoverageBuy 9/3/2013Stifel NicolausInitiated CoverageBuy$23.50 9/3/2013Credit SuisseInitiated CoverageOutperform$23.00 (Data available from 7/1/2013 forward) Earnings History for World Point Terminals LP (NYSE:WPT)DateQuarterConsensus EstimateActual EPSRevenue EstimateActual RevenueRelease LinkConference CallActions5/13/2015$0.27$0.27ViewN/A 3/26/2015Q414$0.27$0.19$23.73 millionViewN/A 11/14/2014$0.25$0.25ViewN/A 8/13/2014Q214$0.27$0.27$22.49 million$22.41 millionViewN/A 5/13/2014$0.26$0.27ViewN/A 3/26/2014$0.25$0.27ViewN/A (Data available from 1/1/2011 forward) Dividend History for World Point Terminals LP (NYSE:WPT)AnnouncedPeriodAmountYieldEx-Dividend DateRecord DatePayable DateShare4/22/2015quarterly$0.307.2%4/30/20155/4/20155/15/2015 1/15/2015quarterly$0.306.02%1/27/20151/29/20152/13/2015 10/23/2014quarterly$0.306.39%10/31/201411/4/201411/14/2014 7/17/2014quarterly$0.306.2%7/24/20147/28/20148/14/2014 4/23/2014quarterly$0.305.17%5/1/20145/5/20145/15/2014 1/15/2014quarterly$0.306.24%1/29/20141/31/20142/14/2014 10/23/2013special$0.1610/31/201311/4/201311/13/2013 10/22/2013quarterly$0.1611/4/201311/13/2013 (Data available from 1/1/2013 forward) Insider Trading History for World Point Terminals LP (NYSE:WPT)Transaction DateInsider NameTitleBuy/SellNumber of SharesAverage Share PriceTotal TransactionActions6/25/2015G Louis Graziadio IIIInsiderSell10,600$17.56$186,136.00 6/24/2015G Louis Graziadio IIIInsiderSell4,302$17.14$73,736.28 6/23/2015G Louis Graziadio IIIInsiderSell3,400$17.06$58,004.00 3/31/2015Kenneth E FentonInsiderBuy2,000$16.68$33,360.00 8/20/2014Paul ManheimInsiderBuy1,000$19.00$19,000.00 5/23/2014Edwin A LevyInsiderBuy1,288$19.15$24,665.20 5/22/2014Kenneth FentonInsiderBuy1,000$19.15$19,150.00 (Data available from 1/1/2013 forward) About World Point Terminals LP World Point Terminals, LP is a fee-based Delaware limited partnership formed to own, operate, develop and acquire terminals and other assets relating to the storage of light refined products, heavy refined products and crude oil. WPT GP, LLC is the general partner of the Company. It operates in a single reportable segment consists primarily of the fee-based storage and terminaling services it performs under contracts with its customers. Its storage terminals are located in the East Coast, Gulf Coast and Midwest regions of the United States and, as of May 31, 2013, had a combined available storage capacity of 12.4 million barrels. The Company provides terminaling and storage of light refined products, such as gasoline, distillates and jet fuels; heavy refined products, such as residual fuel oils and liquid asphalt, and crude oil. Most of its terminal facilities are located on waterways, and have truck racks. Several of its terminal facilities also have rail or pipeline access. Headlines: (6/30) World Point Terminals, LP Announces Retirement Of Chief Financial Officer And Appointment Of New Chief Financial Officer (6/25) World Point Terminals insider Sells $73,736.28 in Stock (WPT) (6/26) Insider Selling: World Point Terminals insider Sells 10,600 Shares of Stock (WPT) (6/30) WORLD POINT TERMINALS : Results of Operations and Financial Condition (form 8-K) (7/1) Twele Will Retire As CFO Of World Point Terminal's General Partner (6/29) World Point Terminals, LP (WPT) (5/29) World Point Terminals Upgraded at Zacks (WPT) (8/9) World Point Terminals, LP (WPT) IPO Opens Lower (8/8) IPO Preview: World Point Terminals, LP (12/4) World Point Terminals, LP Announces Damage to Galveston, TX Terminal Dock Industry, Sector and Symbol: Sector: N/A Industry: N/A Sub-Industry: N/A Exchange: NYSE Symbol: WPT CUSIP: Key Metrics: Previous Close: $17.1650 Day Moving Average: $17.52200 Day Moving Average: $18.74P/E Ratio: 17.25P/E Growth: 0.00Market Cap: $591.59MCurrent Quarter EPS Consensus Estimate: $1.11 EPS Additional Links: View WPT on Google FinanceView WPT on Yahoo FinanceView WPT's Company Profile on ReutersSearch for World Point Terminals LP on Google World Point Terminals LP (NYSE:WPT) Chart for Wednesday, July, 1, 2015


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Alex Fletcher
The 5 greatest pop videos of all time are... Jennifer Aniston for Graham Norton show Axed Apprentice candidate defends tactics Fired Apprentice ready for TV career 8 questions with Roxanne McKee 11 Netflix shows to give you Halloween chills Where are the Mercury Prize winners now? What happened to the stars of Hocus Pocus? Coach Trip is back: Meet the couples 10 years of Coach Trip: Brendan's 6 best bits Hart reveals tour troubles: It was stressful Brand 'open' to who instigated 9/11 Rachel Riley tickled by todgers on Countdown Cumberbatch talks Star Wars rumors Walking Dead star swaps zombies for fashion Axed Apprentice: Lord Sugar got it wrong Apprentice James 'is uncontrollable puppy' Fired Apprentice: I was starting to feel down What happened to the Byker Grove cast? Attenborough's Life Story: 13 stunning shots The Byker Grove cast are reuniting X Factor does '80s Week: Review Apprentice Steven 'washes daily in vinegar' Double Apprentice firing from Lord Sugar Apprentice review: Absolute horror show 15 funniest Noel Gallagher Q&A moments Morrissey retweets Bob the Builder critics Max and Paddy specials are already written X Factor No.1s Week review: Here we go again Stereo Kicks: There is a X Factor ghost Cheryl defends 'vulnerable' Chloe-Jasmine James Jordan rants about Strictly Mark Wright Mills does 'lobster on acid' for Strictly Osmond gets frosty reception on Strictly Frankie Bridge dominates Strictly Movie week Caroline Flack rises with steamy rumba X Factor No.1s Week: As it happened Simon Webbe confirms new Blue album Webbe: Give me 6 weeks and I'll go topless When the Walking Dead cast go glam


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Denver Nuggets
Harden Gets Buzzer-Beating Triple Double
HOUSTON (CBS HOUSTON) – Rockets victory was well in hand on Saturday night come the final minute. All that was left was some icing on the cake. In this case, it was James Harden and […]
Dwight Howard Ready To Return
HOUSTON (CBS HOUSTON) – Dwight Howard is set to return to action for the Houston Rockets for Saturday's game against the Nuggets. The Rockets listed Howard as probable following Saturday morning's shootaround. "I'm just thankful […]
George Karl Will Not Return As Nuggets Coach
Less than a month after winning the NBA's Coach of the Year award, Karl's tenure with the Nuggets is over after 8½ seasons. His departure comes shortly after Masai Ujiri, the league's executive of the year, left to become GM of the Toronto Raptors.
Gallinari To Have Surgery On Left ACL Next Week
Danilo Gallinari says he will undergo surgery to repair the ACL on his left knee next week and is hoping to be back on the court for the Denver Nuggets around February.
Warriors Vs. Nuggets Preview: Faried To Start, Curry Hoping To Play
Whether the pain in Stephen Curry's sprained left ankle will subside enough for him to be on the court when the Golden State Warriors host the Denver Nuggets is not something the point guard could say for sure.
Nuggets Secure 3rd Seed With 118-98 Win Over Suns
The Denver Nuggets secured the third seed in the Western Conference playoffs by routing the Phoenix Suns 118-98 on Wednesday night behind 21 points from Wilson Chandler and 20 from Andre Iguodala.
Alex English: Complacency an Issue with Young Players
Eight time NBA All-Star Alex English joins Nate and De to discuss this weekend's All-Star festivities. He also weighs in on how the league has changed, and shares some of his favorite memories from playing in Houston.
McGee Leads Nuggets To Win Over Lakers
Andre Miller scored 24 points, including two free throws with 12.8 seconds left, and the Denver Nuggets survived Kobe Bryant's late scoring barrage in a 43-point performance, avoiding playoff elimination with a 102-99 victory over the Los Angeles Lakers in Game 5 on Tuesday night.
Supporting Cast Gives Lakers 3-1 Edge Over Nuggets
Kobe Bryant scored 22 points, Andrew Bynum added 19 and the Los Angeles Lakers' stars got plenty of help from their supporting cast in a 92-88 win over the Denver Nuggets on Sunday night for a 3-1 lead in their first-round playoff series.
Stalker Walks Onto Court During Lakers-Nuggets Game
The playoff game between the Los Angeles Lakers and Denver Nuggets was briefly interrupted when a 20-year-old stalker of several Nuggets players walked out on the court in the second quarter Sunday night.


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LAWTON — Two Lawton women facing separate manslaughter charges have been bound over for trial.
During hearings Tuesday in Comanche County Circuit Court, Natasha Anzaldua was ordered to stand trial for the stabbing death last July of her husband, Moses Anguiano. Also, Misty Yeats was ordered to stand trial for the death in September of Harold Otts.


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The new Yardbarker app is here! Install on your iPhone, iPad or Android device. You can also find us in Google Newsstand.
76ers Confuse Bo Outlaw For Travis Outlaw On Website After Trade (Photo)
The Philadelphia 76ers made a trade Monday, but it seems as though they don't even know who they traded for. After the Sixers made a deal with the New York Knicks for Travis Outlaw — whom they plan on waiving in order to avoid taking on his salary — the team's website misidentified the forward as Bo Outlaw, who hasn't played in the NBA in seven years. It looks as...
Knicks trade Travis Outlaw to 76ers
The New York Knicks will trade veteran forward Travis Outlaw to the Philadelphia 76ers to create the roster room needed to keep undrafted rookie forward Travis Wear, reports ESPN's Marc Stein. The Knicks also sent a 2019 second-round pick to the Sixers and agreed to swap rights on another future second-rounder. Wear, undrafted out of UCLA, had a strong training...
Via Sports-Glory
October 27, 2014 | Discuss
Knicks acquire Quincy Acy, Travis Outlaw from Kings
The New York Knicks announced Thursday that they have acquired forwards Quincy Acy and Travis Outlaw from the Sacramento Kings in exchange for guard Wayne Ellington and forward Jeremy Tyler. In addition, the Knicks have reduced the protection on the 2016 second-round draft selection that was traded to Portland and subsequently dealt to Sacramento. Knicks general manager Steve Mills...
Via Sports-Glory
New York Knicks: Outlaw trade a big win
Cheers, Knicks fans! Travis is back with the New York Knicks. However, Patrick Ewing was not part of this transaction and his full name is not Travis Knight, who was famously acquired by the Knicks in the deal that sent Patrick Ewing to the Seattle Supersonics in 2000. The player the Knicks did acquire on Wednesday is Travis Outlaw, who played last season with the Sacramento Kings...
Via isportsweb.com
New York Knicks: Travis Outlaw and Quincy Acy Trade Grade
New York Knicks: Travis Outlaw and Quincy Acy Trade Grade By Mike Elworth: Owner and Publisher/Hoopstuff… Knicks Get: Travis Outlaw and Quincy Acy Kings Get: Wayne Ellington and Jeremy Tyler What a blockbuster trade. 4 10-12th men and a 2nd round pick in one incredible trade. Humor aside, the Knicks really liked Quincy Acy and the Kings coveted shedding salary, which is why this...
New York Knicks Trade For Travis Outlaw & Quincy Acy
Guys! Hey, guys! The Knicks made a move! No, we didn't get Eric Bledsoe or Greg Monroe or anyone that can immediately help Melo and the Zen Master bring the Knicks to NBA relevancy this season. It's nothing that monumental. We did trade for Travis Outlaw and Quincy Acy though. Doesn't exactly get your juices flowing, huh? No? Not even a teensy eensy bit? What did we give...
Via Total Sports Blog
August 06, 2014 | Discuss
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Performing artist Martin Zeller holds an Improvisation Workshop from 9:30 a.m.-3:30 p.m. Sept. 28 at the Art Barn at 1060 East End Road. The 5-hour class introduces, explores and expands the skills of improv. Through exercises and games participants will learn the elements of long- and short-form im...Thu, 09/12/2013 - 8:24am
Build week for the 10th annual Burning Basket, "Enjoy," continues from noon to 5 p.m. daily through Saturday at Mariner Park on the Homer Spit. The interactive community art project includes an outdoor basket sculpture and labyrinth. The basket of remembrance and unburdening is offered to the co...Thu, 09/12/2013 - 8:24am
As summer slides into fall, Alaskans track the fading of the season by an iconic flower and plant: the persistent, sturdy fireweed. Weeks ago, fireweed lost its flowers and has now gone to fluff, its stems and leaves turning into red tinged with golden. Only summer-long visitors or residents can act...Thu, 09/12/2013 - 8:23am
The Pratt Museum seeks donations from artists and businesses for "Ritz at the Moulin Rouge," its 2013 Ritz Art and Experience Auction. Donations are due 5 p.m. Sept. 20. The Ritz is Nov. 2 at Wasabi's. This year's event includes a live and silent auction, featuring artwork and other items do...Thu, 09/12/2013 - 8:22am
Artists and teachers who wish to join the roster to teach in Artist in School residencies should plan to attend the Teaching Artist Training Academy with keynote speaker and presenter, Alison Marshall, a Kennedy Scholar and dance educator. College credit is available. The training is Nov. 8-10 at th...Thu, 09/05/2013 - 7:21am
The Homer Council on the Arts invites new artists to submit work for its November Emerging Artists exhibit. Works submitted will not be selected by a jury, but will be reviewed by an exhibition committee. Work must be original and being presented to the public for the first time. All media are welco...Thu, 09/05/2013 - 7:20am
Halibut Cove artist Annette Bellamy has a show, "Floating," opening Friday at the Anchorage Museum at the Rasmuson Center. A First Friday reception is 7 to 9 p.m. at the museum. Bellamy's work includes several large ceramic works as well as some works in fish skin. Her show is on exhibit throu...Thu, 09/05/2013 - 7:19am
Art Shop Gallery 207 W. Pioneer Ave. Time to Unlock the Treasure Corner by various artists 5-7:30 p.m., First Friday Reception The Art Shop Gallery features selections from the gallery at half price as well as original work this summer from its Summer Artist series. ...Thu, 09/05/2013 - 7:18am
Art openings this month feature exhibits from two of Homer's most distinguished artists, R.W. "Toby" Tyler, showing at Ptarmigan Arts, and Karla Freeman, showing at Bunnell Street Arts Center. Tyler and Freeman have art careers stretching back 50 years. Tyler first came to Alaska in 1953. Free...Thu, 09/05/2013 - 7:10am
Walk around Homer and what do you see? On Saturday mornings at Friendship Terrace in the Homer Senior Center, from five to 12 people strum their ukuleles. At the Farmer's Market, the Homer Ukulele Group Society — that's HUGS for short — performs. In the window of Cornish Music on Pioneer Ave...Wed, 08/28/2013 - 5:58pm
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Sheldon Richardson Goes to Jets With 13th Overall Pick in NFL Draft
Mizzou Has Had Six First-Rounders in Last Five NFL Drafts
2005 Team Captain
2004 2nd-Team All-Big 12 (Coaches)
2004 Hon. Men. All-Big 12 (A.P.)
2004 Team Hammer Award Winner (Most big hits)
2004 Team Offensive Lineman of the Year
2003 Hon. Men. All-Big 12 (A.P., Coaches)
2002 4th-Team Freshman All-American (The Sporting News)
2002 Big 12 All-Freshman Team (The Sporting News)
2002 Team Interior Lineman of the Year
2004 Hon. Men. All-Big 12 (A.P.)
2004 Team Hammer Award Winner (Most big hits)
2004 Team Offensive Lineman of the Year
2003 Hon. Men. All-Big 12 (A.P., Coaches)
2002 4th-Team Freshman All-American (The Sporting News)
2002 Big 12 All-Freshman Team (The Sporting News)
2002 Team Interior Lineman of the Year
One of the top veteran linemen in the Big 12 Conference who will be the anchor for the line that looks to get MU's offense going in 2005 ... Should challenge for All-Big 12 line honors, as well as a possible run at national recognition ... A physical run blocker who is an emotional leader for the team, as well ... Has a total of 30 career starts under his belt (the most of any Tiger offensive line returnee) ... Resides in the trenches at the left guard position, where he is atop the depth chart heading into the spring season.
Continued his development into one of the top guards in the Big 12 Conference ... Earned 2nd-Team All-Big 12 honors from league coaches, and Hon. Men. status from the league media ... Also won team awards for most big hits on the season, as well as the team's offensive lineman of the year ... Played and started all 11 games on the season, and was often relied on to get the big block in key situations, whether going straight ahead or pulling to clear the way.
Was named to the Honorable Mention All-Big 12 team by both league coaches and media, after earning 4th-team freshman All-American honors in 2002 ... Was a key part of the offensive line that paved the way for a Tiger offensive attack that ranked 6th in the nation in rushing ... Mizzou rushed for 38 TDs and broke the school single-season scoring record, with 399 pts. (old record was 368 in 1997) ... MU's 3,089 rushing yards ranks as the 2nd-highest in school history, trailing only the 1942 (3,230 yds.) squad ... Mizzou had a pair of 1,000-yard rushers (Brad Smith w/1,406 yds. & Zack Abron w/1,155 yds.) in the same season for the 1st time in school history ... MU also led the nation in fewest turnovers (13 in 13 games), a year after leading the country in the same category (12 in 12 games in 2002) ... Was part of a three-man rotation at guard, and started 10 games on the year, including 10 of the last 11 games.
Named a 4th-Team Freshman All-American by The Sporting News as well as earning Big 12 All-Freshman Team honors from the same publication ... Had an outstanding redshirt freshman campaign, as he established himself as one of the top linemen on the squad ... Was inserted into the starting lineup for the first time in his collegiate career in week four against Troy State, and started the rest of the way ... Graded out as the second-highest lineman for the season ... Earned the team Interior Lineman of the Year award at the season ending banquet for his play ... Named offensive co-player of the week three times during the season, for his efforts against Troy State, Oklahoma and Kansas.
Redshirted in 2001 ... Played on the Tigers' offensive scout team.
Big offensive line prospect who was named the Blue Chip Offensive Lineman of the Year in the Oklahoma ... Tabbed first team all-state by the Daily Oklahoman as well as all-Metro and all-city honors ... Had a solid defensive career as well, racking up 133 tackles and forcing 11 fumbles ... Forced six fumbles on his own as a senior ... Hails from the same city that produced Missouri all-conference cornerback and 1998 Insight.com Bowl MVP Julian Jones ... High school football coach - Ricky Oliver.
Majoring in hotel and restaurant management ... Son of Richard and Adrianne Gaines ... Father is an aircraft supervisor, mother is an aircraft mechanic ... Father is also a church pastor where Tony sings and plays the piano ... Born Feb. 23, 1983.
More Headlines
Mizzou's Pinkel Inducted Into MAC Hall of Fame
The Mid-American Conference will induct its 2015 Hall of Fame Class on Wednesday (May 27) and...
Sasser, Murphy Taken In Day Three of NFL Draft
Adding their names to the annals of Mizzou NFL Draft history today were WR Bud Sasser (Denton,...
Mizzou's Morse, Golden Selected in Second Round...
Mizzou football's Mitch Morse (Austin, Texas) and Markus Golden (St. Louis, Mo.) were both...
Mizzou's Shane Ray Drafted 23rd Overall by ...
Mizzou junior defensive end and reigning SEC Defensive Player of the Year Shane Ray (Kansas City,...
Mizzou Football 15-Hour Sale Set for May 5
Beginning at 9 a.m. on Tuesday (May 5), fans of the back-to-back SEC East Champion Mizzou...
Mizzou, Pinkel Agree to New Contract Terms
The amended contract will keep Gary Pinkel on the Mizzou sideline through Dec. 31, 2021. Already ...
Tigers Impress at Annual Spring Football Game
The starting units for the Mizzou Football team (Mizzou1) scored 10 consecutive points right...
Mizzou Football Spring Game Fan Primer
The Mizzou Tiger football team will hold its annual Black & Gold Spring Game on Saturday,...
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World Bank Group President Jim Yong Kim's Speech at the Tripartite Summit
Regional integration is more than trade. Greater regional integration has a vital role to play in helping countries move beyond conflict. In the Great Lakes Region, the Sahel, and the Horn of Africa, ... Show More + we're designing programs that will help entire regions, including support for multi-country sustainable energy projects and improvements to cross-border trading, which promote peace and stability. These efforts, in partnership with the United Nations and institutions such as the Islamic Development Bank, are accompanied by strategic dialogue and development diplomacy. We're also looking to expand this regional approach to countries in the Middle East. In the face of current instability in the Middle East, I understand that it is difficult to envision peace and prosperity for all, but I remain optimistic. We must begin preparing for peace and economic opportunities, and we must invest in the region's greatest untapped asset – its youth and its women. We must invest in young people and women by giving them better educations, access to quality health care, and job training skills. The World Bank Group is ready to mobilize the necessary financial resources and technical assistance to support reforms in education and vocational training, partnering with the government and the private sector. Our purpose is to improve the quality of education and bridge the current skills mismatch. These steps will give youth, women and the economically disadvantaged much greater opportunities to find good jobs.On this day, let me renew my commitment to you that we at the World Bank Group share a common vision and goal of a more prosperous Africa and Middle East. With us, you have a friend in Washington and in country offices. We will do all in our power to help you create better lives for all your citizens. Thank you very much. Show Less -
Small Enterprises in the Middle East and North Africa Face Risks and Rewards in the Public Market
World Bank Governance Practice Manager Yolanda Tayler explained, "Even though SMEs represent between 80 to 90% of formal sector enterprises in MENA, they are often not aware of the potential that the ... Show More + public market offers to them. In Iraq, for instance, over US$51 billion is spent through public procurement. Yet, the smaller enterprises are not benefiting from their fair share of that spending."To address these issues, the World Bank is working with governments, training institutions, and the private sector in eight countries to reach out to SMEs and expose them to tools and methods that will help them to compete in the public market. In sum, over 70 trainings will have taken place by the end of June, 2015, under a landmark regional program funded by the MSME Facility of the Arab World Initiative.In KRG, the Kurdistan Contractors Union has collaborated with the Ministry of Planning to execute 10 workshops across four cities, targeting 250 SMEs.In Egypt, the General Authority for Government Services has partnered with a training institute to execute 18 workshops in 16 different cities, employing impressive reach and scope to share information and knowledge with new suppliers in all corners of the countries.In Lebanon, the Institute of Finance has put together an impressive program in partnership with a private business school. The launch of the program in March was covered by 10 local newspapers and 4 TV channels. Lebanon's program will also feature an impact evaluation component, to track how successful the participating companies are in actually winning bids.In Djibouti, the Chamber of Commerce is coordinating with the National Commission on Government Procurement to deliver six workshops.In the Palestinian Territories, the High Council of Public Procurement Policies has elected to partner with Birzeit University to disseminate twelve sessions for local companies.By approaching the problem with a market focus, the hope is that new firms can become reliable government suppliers and provide a real boost to the national economies. To date, the program has trained over 700 small businesses across 21 cities in 7 countries. This is not just a chance for businesses like Shirzad's to access new opportunities. It's also an important way for the public sector to improve its image and relationship with the private sector, to promote better value for taxpayer money, and to contribute to job growth. Show Less -
Millions of Children in the Arab World are missing the basic foundations for Healthy Development
New World Bank report provides first comprehensive analysis of the state of early childhood development in the Middle East and North Africa regionRabat, May 12th, 2015 – Generations of children in th... Show More + e Middle East and North Africa (MENA) region will be at a permanent disadvantage according to a new World Bank report, without concerted action to improve access to key development factors during early childhood. With data gathered in twelve countries, Expanding Opportunities for the Next Generation, Early Childhood Development in the Middle East and North Africa reveals serious deficits in early childhood development and large inequalities that are holding the region back, and provides guidelines for policies to ensure all children can reach their full potential.A growing body of evidence points to early childhood as the most critical stage in human development. Pre-natal care, immunizations, proper nutrition and the cognitive, emotional and social development of children are the foundations for later success in school and adult life. The report identifies significant shortcomings throughout the region in each of these vital components. One in every 40 children dies in the first year of life mostly from preventable causes, one fifth are stunted from malnutrition which puts millions at risk of impaired learning and limited opportunities and only 48 percent have access to iodized salt that is essential for cognitive development. At only 27 percent, pre-primary enrollment is half the global average."Inequality begins early in life and once entrenched is harder and more costly to reverse – with many of the outcomes irreversible," said Safaa El-Kogali, World Bank MENA Practice Manager for Education and lead author of the report. "Our research shows that disadvantaged children are the least likely to receive development support, in both the region's poorer and more developed countries, which will impact their opportunities throughout their life. The good news from global experience is that interventions, especially for disadvantaged children, can have immense impact and dramatically change the lives of millions of children and influence the development trajectories of countries."The report was released today at a conference in Rabat hosted jointly by the World Bank and Morocco's National Observatory for Human Development (ONDH). The event drew senior government delegations from across the region, along with representatives from development organizations, donors, civil society, and academia. A diverse range of speakers addressed the conference, including the Moroccan Minister of Education and President of ONDH, Rachid Benmokhtar and Claudia Costin, World Bank Senior Director for the Education Global Practice.The overall goal of the event was to review the report's finding, share experiences and determine a way forward based on the available evidence and driven by clearly articulated targets. The report makes clear that a focus on economic growth alone will not be enough to address the many shortfalls. It requires targeted interventions to address the various dimensions of early childhood development. These include the expansion of pre- and post-natal care. Identifying children at risk for poor growth, monitoring their health, and supporting their nutrition to lower the chances of stunting and impaired brain development. Investments in micronutrients can have especially high returns, as every dollar invested in iodizing salt has been shown to deliver US$15 to US$520 in benefits. The provision of good quality pre-primary schools in poorer neighborhoods can also provide immediate and long-lasting results, by addressing the inequalities of opportunity in early childhood that set the stage for income inequality later in life. Show Less -
Increased Investment in Early Childhood Critical for Development and Inclusion in the Arab World
A child's social and economic background has a significant impact on whether they have access to the variety of factors that contribute to healthy ECD. The report calculates that a child from the poor... Show More + est segment of society in Lebanon has a 51% chance of being fully immunized by their first birthday, while a child form the richest segment has a 79%. In Tunisia, a child from the poorest segment of society has a 4% chance of attending early education or childcare, while a child from the richest segment has a 97% chance. Since these inequalities in early childhood underlie many adult inequalities, programs that address these gaps during early childhood can be powerful tools for addressing inequality. "Children should have equal opportunities for healthy development during their early years, regardless of their circumstances," said Safaa El-Kogali, World Bank MENA Practice Manager for Education and lead author of the report, "which is why a focus on early childhood development is so critical." Public health interventions, such as iodizing salt, can be simple, effective and cheap. They have enormous impact, especially true for disadvantaged children. This is also true of scaling up immunizations and nutrition programs that monitor children and target any who appear at risk of malnutrition. Investments in early care and education also deliver significant returns. "The lives of millions of children can be rapidly improved when countries make ECD a priority, and it can end up influencing the development trajectory of countries," added El-Kogali.Algeria is a case in point. As a nation, it stands out as having turned pre-primary enrollment around in under a decade by introducing a pre-primary curriculum in 2004. Before it, only 2% of Algerian children received pre-primary education. By 2011, 75% did, with most pre-schools (86%) provided by the government. Other initiatives include one in Jordan, where a Better Parenting project was introduced targeting disadvantaged families. This focused on teaching parents more about childhood development, the role of the family, positive discipline, and the importance of play. The project sought the help of imams to teach fathers, in particular, about better parenting after Friday prayers.Normally, ECD indicators change relatively slowly over time, but the ongoing crises and conflicts in MENA may change this. Childhood development programs may be confronted with new challenges, as well as new chances to improve. "Waiting will only make the challenges greater and more costly to reverse," concluded El-Kogali, "the time to start is now." Show Less -
Infographic- My Childhood, My Future: Investing in Early Childhood in the Arab World
Expanding Opportunities for the Next Generation, Early Childhood Development in the Middle East and North Africa
The first chapter offers an overview of the evidence that the period from before birth to age five is the most important stage of human development. This period is especially crucial as deficits at th... Show More + is early stage tend to be irreversible and to perpetuate cycles of poverty and inequality. The many dimensions of healthy ECD, from proper healthcare and nutrition to early development activities, are identified along with the range of related indicators used to measure the state of ECD in the region.Chapter 2 offers a comparison with other regions of the world, for a better understanding of the state of ECD in MENA,. The twelve countries of the region are also compared, to establish benchmarks and identify country-specific deficits in ECD. The chapter includes an analysis of the factors that influence ECD, as there is significant inequality of access to key development activities even in the region's more developed countries.Chapter 3 shows that economic growth alone will not address the many shortfalls in the region's ECD. Targeted interventions are needed. The chapter provides a way forward with a number of approaches from around the world that have been implemented successfully and which would benefit children in MENA.Chapter 4 offers an overview of ECD in Algeria which has achieved good immunization rates but has high rates of stunting due to malnutrition, and where a child's social and economic background influences the chances of healthy development.Chapter 5 offers an overview of ECD in Djibouti where prenatal and delivery care is now almost universal but child mortality rates are still high and less than one third of children are fully immunized by the age of one.Chapter 6 offers an overview of ECD in Egypt where stunting is a major and persistent problem and disadvantaged children are the least likely to benefit from early schooling, although immunization rates have reached 92%.Chapter 7 offers an overview of ECD in Iraq where only half of children are receiving regular prenatal care, less than two-thirds are fully immunized and access to key development activities is closely related to social and economic background.Chapter 8 offers an overview of ECD in Jordan which has achieved near universal coverage for prenatal and neonatal care, and while rates for stunting are low there is large variation in nutrition status, with a child from the poorest segment of society seven times as likely to be stunted as a child from the richest.Chapter 9 offers an overview of ECD in Lebanon which has also achieved near universal coverage for prenatal and neonatal care but where only half of all children are fully immunized by age one and poorer children are more likely to be stunted.Chapter 10 offers an overview of ECD in Libya before the current crisis, where 87% of all children were fully immunized but only half had access to iodized salt, essential for cognitive development, and more than one fifth were stunted.Chapter 11 offers an overview of ECD in Morocco where 90% of children are fully immunized but almost one third are stunted and deaths in the first month and year of life are above regional averages, with the poorest children facing greater risk of death.Chapter 12 offers an overview of ECD in Syria before the current crisis, where 96% of births were assisted by a skilled attendant but only 78% of one-year-olds were fully immunized and over one quarter of all children were stunted.Chapter 13 offers an overview of ECD in Tunisia which has achieved near universal prenatal and delivery care and early mortality has fallen below regional averages, but children in rural areas have one third the chance of urban children to attend early education and 22% of children aged 5 are engaged in child labor.Chapter 14 offers an overview of ECD in the West Bank and Gaza which has achieved near universal coverage for prenatal and delivery care but stunting remains a persistent problem and there are large differences in access to early care and education between advantaged and disadvantaged children. Chapter 15 offers an overview of ECD in Yemen before the current crisis where less than half of all births received prenatal care and children were more than twice as likely to die before their first birthday (7%) as they were to attend early childhood education (3%). Show Less -
Arab Monetary Fund and World Bank Group Join Efforts to Support Financial Sector Development in the Arab World
WASHINGTON, April 17, 2015 – The Arab Monetary Fund and the World Bank Group signed today an Enhanced Partnership Framework to support countries in the Middle East and North Africa (MENA) region in de... Show More + veloping their economies and financial markets. This initiative will include collaboration on joint strategies for promoting the development of financial markets and trade among countries; supporting economic stabilization; and accelerating broad-based and inclusive economic growth and job creation in the Arab region."The World Bank and the Arab Monetary Fund have collaborated on a number of initiatives over the years and given our fruitful cooperation in the past, we are here to solidify and strengthen this partnership further," said Hafez Ghanem, World Bank Vice President for the Middle East and North Africa region. "This new partnership framework brings together the elements of our joint engagement with the Arab Monetary Fund under one umbrella in a more structured, ambitious and comprehensive manner. It also brings the World Bank and IFC, our private sector arm, together as one World Bank Group."The Framework was signed by MENA Vice President Hafez Ghanem, Dr. Abdulrahman Al Hamidy, Arab Monetary Fund (AMF) Director General and Chairman of the Board, and Mouayed Makhlouf, International Finance Corporation Regional Director for the Middle East and North Africa.Cooperation under this memorandum of understanding will enable each institution to leverage its respective core competencies and comparative advantage as well as to consolidate, strengthen and broaden the ongoing collaboration."The Arab Monetary Fund's extensive experience in assisting financial sector development in the region, and in supporting capacity development effort in our member countries, has always been among our top priorities," said Dr. Abdulrahman Al Hamidy, AMF Director General and Chairman of the Board. "We look forward to pursuing and intensifying this effort to better tackle the needs in the region."The AMF and WBG specific support to Arab countries will focus on technical assistance and awareness raising in three areas: financial sector infrastructure including payment systems, credit information sharing systems and collateral registries; financial channels and vehicles such as bond market development, early stage innovation, financing for start-ups, Islamic finance, housing finance and SME stock exchanges; and financial sector inclusion and access, including on providing access to finance by micro enterprises, SMEs, firms, households and individuals, and developing mobile banking and mobile money.The Arab Monetary Fund and IFC have in the past few years helped establish more enabling business and regulatory environments for private credit bureaus in these countries. "The Arab Monetary Fund is a long term partner of IFC in pursuing the private sector development agenda across the Middle East and North Africa region," said Mouayed Makhlouf, IFC Regional Director for the Middle East and North Africa. "Through this MOU we will continue to partner and provide assistance for the development of the regional financial sector, especially in the areas of access to finance for small businesses, Islamic finance, and housing finance."This Enhanced Partnership Framework will also provide training opportunities and high-level conferences on key topics of relevance to the region in the financial arena. Show Less -
Breaking the Cycle of Poor Service Delivery in the Arab World Critical for Long Term Stability
New World Bank report calls for accountability in public service delivery and identifies local success stories to inform and inspire reforms.Washington, April 15th, 2015 – The delivery of essential p... Show More + ublic services in the Middle East and North Africa region is failing to meet the needs of citizens and continues to be a source of widespread dissatisfaction, as documented in a new report released today by the World Bank. Trust, Voice and Incentives, learning from local success stories in service delivery in the Middle East and North Africa identifies a corrosive relationship between a lack of accountability among service providers and limited channels for citizen feedback that perpetuate poor service delivery.The report also points toward potential solutions. With a focus on health and education, a number of clinics, schools and their institutional and community contexts are examined to explore how they have managed to deliver quality services despite significant odds. The local success stories come from Jordan, Morocco and the Palestinian Territories; each from localities with limited resources. The examples demonstrate the importance of local decision making power and community engagement in building the chains of formal and informal accountability that produce better results."Young people in particular are too often let down by schools that do not prepare them for the jobs market," said Hafez Ghanem, World Bank Vice President for the Middle East and North Africa Region. "The problem is not a lack of resources but the wrong motivation, as public servants are not judged by their ability to meet the needs of citizens. Breaking the cycle of poor performance will be essential for rebuilding the relationship between citizens and governments and allowing the region's youth to reach their full potential."One of the examples the report focuses on is the Kufor Quod Girls' Secondary School. Located in a small village near the city of Jenin, test scores from the Trends in International Math and Science Study (TIMSS) places the school in the top performers across the Territories. The report traces the school's success to parental and community engagement and the ability of the school's principal to build and maintain a motivating, encouraging work environment for teachers. Even in the face of tight budgets and the many restrictions in the centralized education system of the Palestinian territories, the principal found ways of rewarding her teaching staff and maintaining their commitment to the school's high standards."Improvements in services will not come simply through policy reforms and investments." said Hana Brixi, World Bank Global Lead for Public Service Delivery and lead author of the report. "It will require making public servants and providers accountable to citizens and promoting citizens' trust in and engagement with public institutions. Our case studies reveal the impact of solutions designed to fit local contexts: Local leaders, motivated school principals and health clinic staff, and communities can effectively join forces and make services work."The lessons learned from the case studies are offered as both a guide and inspiration for policy makers, public servants and citizens on what can be achieved through reforms. While poor service delivery affects everyone, the burden falls heaviest on the poor and marginalized. As the report demonstrates, one of the factors that further exacerbates the decline in the quality of services is that citizens opt out and find private, often informal, means to meet their needs. The poor do not have the resources to opt out. Creating opportunities for citizens to act and hold service providers and public servants accountable is essential to prevent further social marginalization and build the foundations for shared prosperity. Show Less -
Middle East and North Africa Countries Need a New Social Contract to Create Jobs and Improve Services
WASHINGTON, April 15, 2015 – The latest World Bank Economic Monitor for the Middle East and North Africa (MENA) expects GDP regional growth to remain flat at 3.1 to 3.3 percent for the rest ... Show More + of 2015 and for 2016. Prolonged conflict and political instability in some countries, low oil prices that are dragging down growth of oil exporters, and the slow pace of reforms are all contributing to low investment, high unemployment and—for the first time in four years—a fiscal deficit for the region as a whole.The average growth rate hides variation in different countries' economic prospects. "A third of MENA countries—oil importers—will grow at about 4 percent in 2015, buoyed by some policy reforms, notably in Egypt and Morocco, as well as low oil prices," said Hafez Ghanem, World Bank Regional Vice President for MENA. Economic growth in oil exporters, however, is plummeting. Those mired in conflict, such as Iraq and Libya, are likely to see economic contraction this year. The Gulf Cooperation Council (GCC) countries are expected to lose about US$215 billion, or 14 percent of their combined GDP, from lower oil prices this year. The region's lackluster economic performance over the past four years has highlighted the fact that long-standing problems, including high unemployment, especially among youth and women, and the poor quality of basic services such as education and health, remain unsolved. The report suggests that the old development model—or social contract—where the state provided free health and education, subsidized food and fuel, and jobs in the public sector, has reached its limits. "While it delivered high enrolment rates and basic health, not to mention civil-service jobs, the old social contract was unable to provide quality education and health, or jobs in the private sector," said Shanta Devarajan, World Bank Chief Economist for the MENA Region. Quality health and education requires that the doctor or teacher be accountable to the patient or student—something that a centrally financed and provided system does not achieve. And creating jobs in the private sector requires markets that are open to domestic and foreign competition and not captured by a few politically connected firms.To generate private-sector jobs and quality public services, the report calls for a new social contract, one where the state facilitates competition in domestic markets, and organizes service delivery so that citizens can hold providers accountable. "Given that MENA countries achieved so much with the old social contract, I am confident that they can achieve even more with the new one," said Devarajan. Show Less -
Breaking the Cycle of Poor Service Delivery in the Middle East and North Africa
A forthcoming World Bank report, Trust, Voice, and Incentives: Learning from Local Success Stories in Service Delivery in the Middle East and North Africa finds solutions within the region itself. The... Show More + report identifies a series of local successes in delivering quality public services in Jordan, Morocco and the Palestinian Territories. The examples show that resources are not the determining factor. "It is national and local leadership, and the building of accountability relationships around shared goals that make the difference," said World Bank Global Lead for Public Service Delivery Hana Brixi, lead author of the report. "They hold the key to unlocking the full potential of the region's vast human potential."The success of a girls' high school outside Jenin in the West Bank is traced to local leadership, specifically the principal's ability to involve parents, motivate her teachers, and forge a collaborative framework with the directorate, underpinned by mutual trust. The success of another public school—this time in a deeply traditional community in Jordan—again springs from efforts by an Education Council, consisting of representatives from the community and ten schools in the area, to create new power structures where schools and community work together to make decisions and find solutions to local problems. "Student performance in national tests have now become a source of community prestige and pride," observed Jumana Alaref, a member of the World Bank team that visited the school as part of the research for the report. "Tackling problems, such as the school's power supply, are now a shared responsibility," she added.These examples offer valuable lessons, all the more urgent during this time of crisis, on how to rebuild institutions and engage local leaders and citizens in designing solutions. Better quality of health and education services and greater citizen satisfaction, trust, and engagement would make societies across the region politically more stable and economically more just. The cycle of poor performance must first be broken, and replaced with the interlocking chains of norms and accountability that nurture and reinforce good service delivery and citizens' trust in public institutions and engagement with the state. Show Less -
Trust, Voice, and Incentives: Learning from Local Success Stories in Service Delivery in the Middle East and North Africa
Part I (Chapters 1 – 3) asks the question: Why does service delivery fall short of potential in the MENA region? In answering the question, the report provides a review of the region's impressive achi... Show More + evements over the last five years of expanding access to basic education and health services and improving core human development outcomes, while highlighting the remaining challenge of poor service quality and citizens' dissatisfaction. The conclusion is that a cycle of poor performance has emerged in much of the region as a result of state institutions lacking both internal and external accountability mechanisms. Chapter 3 demonstrates that cycles are alterable. It provides examples of virtuous cycles in the region that have developed at the local level (even in context of a poor performance at the national level) when local stakeholders are driven by individual will or social obligations to take initiatives.Part II (Chapters 4 – 5) chapter 4 explains how historical experience has led citizens to value health and education, fostered their dependence on the state, and has limited state responsiveness. Chapter 5 provides a detailed picture of the political, administrative, and social institutions that affect service delivery.Part III (Chapters 6 -7) offers an analysis of performance at the point of service delivery. It explores the efforts of teachers and health professionals in relation to their access to resources and the influence of institutions. Chapter 6 focuses on the national level, with chapter 7 identifying the extent of subnational variation in service delivery performance. The study of subnational variations underscores that local successes exist and that much about service delivery challenges and possible solutions can be learned in local contexts.Part IV (Chapters 8 – 9) completes the cycle of performance with an analysis of how institutions and performance affect citizens' perceptions of the state and the nature of citizen action vis-à-vis the state. Chapter 8 shows how performance influences citizens' trust in the state, with chapter 9 tracing that trust in turn shapes the nature of citizens' engagement at both the local and national levels.Part V (Chapters 10 – 12) emphasizes the need to build on evidence of local successes and on positive trends that buck the cycle of generally poor performance, as bases for encouragement and action for citizens, civil servants, policy makers, and donors. Chapter 10 discusses the opportunities that crises offer to national and local leaders to reform institutions and accountability mechanisms, and boost citizen trust. Chapter 11 focuses on the role donors can play in supporting reforms, in the absence of major disruptions, by promoting the right incentives. Chapter 12 offer yet another scenario for incremental institutional reforms driven by reform coalitions in society and government. Show Less -
Global Agencies Call for Urgent Action to Avoid Irreversible Groundwater Depletion
New Vision and Global Framework for Action on Groundwater GovernanceDAEGU, April 10, 2015— The FAO, UNESCO, World Bank, GEF and International Association of Hydrogeologists this week called for action... Show More + by the global community to manage the increasingly urgent depletion and degradation of limited groundwater resources.Ahead of the 7th World Water Forum in Daegu and Gyeongbuk next week, the group proposed a set of principles governments can use for better groundwater management. The 2030 Vision and Global Framework for Action represents a bold call for collectively responsible action among governments and the global community to ensure sustainable use of groundwater.For too long, groundwater governance has been an area of policy neglect, resulting in its degradation and depletion. Global groundwater abstraction has tripled over the past half century. More than a fourth of current withdrawal is non-sustainable. Widespread groundwater pollution is threatening humans and the environment. Most urban aquifers suffer from sanitation issues while coastal aquifers are exposed to saline water intrusion. Industrial pollution, pesticides and fertilizers also find their way into reservoirs.The amount of renewable groundwater is unevenly distributed across regions. Some areas, especially those with low rainfall, are at risk more than others. Withdrawal intensity is highest in large parts of China, India, Pakistan, Bangladesh, Iran, the US, Mexico and Europe. This could result in lost freshwater reserves at a time when groundwater storage is critical for sustaining water security and adapting to climate variability. "Since time immemorial humans have sought water from the soil. But we have moved from a village being based around a well to whole cities and industries being built around groundwater," said Junaid Ahmad, Senior Director of the World Bank Group Water Global Practice. "We have learned how to dig ever deeper, pump ever harder, and how to turn deserts into breadbaskets. But we have done this without considering the rate at which our groundwater is recharged, and so we should not be surprised when our wells run dry. Much as we have invested in pumps and crops, so now we must invest in groundwater governance." Groundwater is indispensable to poverty reduction and shared prosperity. It accounts for more than a third of municipal and industrial supply and some 40 percent of the global irrigated area is serviced by groundwater. Groundwater has the potential to provide an improved source of drinking water for millions of urban and rural poor people. Many poor farmers and their families depend on it to irrigate their crops and sustain their livelihoods.The 2030 Vision and Framework for Action provides the enabling framework and guiding principles for a coordinated action among governments and organizations."Sustainable management of groundwater is key to maintaining ecosystems and adapting to climate change," said Naoko Ishii, CEO and Chairperson of the Global Environment Facility. "We can no longer take this invisible but vital source for granted; urgent action is needed to ensure its long term availability. We look forward to joining hands with partner agencies and countries to ensure water for drinking, food, cities, energy and industrial uses is available for generations to come."In response to the urgency of the situation, a product of four years of consultations with stakeholders from more than 100 countries, these principles focus on legal and institutional frameworks, policies, and plans as well as information and incentive structures for sound and effective groundwater management.This process signals strengthened collaboration across the international community to understand the barriers to better groundwater governance and address key regional challenges."Collective and coordinated action is urgently needed to protect and prolong the integrity of our aquifers," said Moujahed Achouri, Director of the Land and Water Division of the Food and Agriculture Organization. "The cost of inaction can be enormous. This vision and framework is an urgent call to decision-makers to act now with the right political decisions to help reach globally shared goals of social and economic development".To make groundwater governance a reality, it is necessary to foster cooperation among countries, especially on transboundary aquifers," said UNESCO Director-General Irina Bokova. "Water directly influences our future, we must work together to manage this precious resource more sustainably." Show Less -
Turn Down the Heat in the Arab World
Ahead of the Paris COP 21, MENA governments are pressured to develop innovative green solutions, reduce their CO2 emissions, and sustainably protect their livelihoods and scarce natural resources espe... Show More + cially water, from the effects of climate change,.The World Bank "Turn Down the Heat" reports warn that without concerted action, temperatures are on pace to rise to 4°C above pre-industrial times by the end of this century, and the MENA region will be hit harder with higher temperatures and more severe droughts.Join us in fighting the impact of climate change in the Arab World!This campaign aims to raise awareness on climate change and promote a long-term call for action in the Arab World. Stay tuned for updated stories, blogs, postcards, infographics and data about how climate change affects the region and what actions are needed to address them.The campaign will focus on the following themes:EnergyArab World countries have some of the highest wind and solar energy potentials in the world. Exploiting this wind and solar potential would strongly help Arab countries, enabling them to decrease the vulnerability of their existing energy systems Using wind and solar energy will also increase electricity production, which is important as demand in the majority of the countries is expected to increase steeply in coming decades due to demographic and economic development as well as to the increasing need for space cooling as temperatures rise.Air pollutionSources of air pollution in the Arab World vary from transportation systems, greenhouse gas emissions, and other gases from industries. Coupled with a shortage of institutional capabilities to manage air pollution, air quality has become unbreathable in most MENA's largest cities, with tremendous impact on people's health. Unprecedented unplanned urbanization, industrialization and migration of traditionally rural peoples and resettlement of refugees strain city services and give rise to air pollution.Natural resourcesIn most MENA countries, scarce fresh water is diverted, misused, and polluted with hazardous wastes, sewage, agricultural waste, and other chemicals. Arable land is being lost to desertification and unplanned urbanization. Coastal zones are mismanaged and polluted with oil, threatening fragile ecosystems and biodiversity.As a result of global warming, especially changes in precipitation patterns, water availability will decrease in most parts of the MENA region throughout the 21st century, with decreases possibly exceeding 15% in a 2°C world and 45% in a 4°C world.More info Show Less -
Scaling Up Universal Health Coverage and Containing Non-Communicable Diseases in the Middle East and North Africa: Challenges, Linkages and Strategies
KUWAIT CITY, February 12, 2015 – Addressing the twin challenges of scaling up universal health coverage (UHC) and containing non-communicable diseases (NCDs) in the Middle East and North Africa (... Show More + MENA) region is the focus of a five-day policy seminar sponsored by the World Bank in coordination with the International Monetary Fund (IMF) Middle East Center for Economics and Finance (CEF).The policy seminar brings together 37 senior level representatives from Ministries of Health, Finance, and Planning and health agencies in the MENA region, as well as representatives from academia and non- governmental organizations. Presentations by World Bank specialists with expert contributions from World Health Organization (WHO), Johns Hopkins University, US Center for Disease Control (CDC) and the Organization for Economic Cooperation and Development (OECD), are geared towards familiarizing policy makers and participants with global and regional experiences in scaling up universal health coverage and containing non-communicable diseases."The World Bank is pleased to be hosting this policy seminar in Kuwait for such a wide-ranging and high-level group of health officials from the MENA region," said Bassam Ramadan, World Bank Country Manager in Kuwait. "The rising burden of non-communicable diseases and the growing momentum towards expanding health coverage in the region make this seminar highly relevant and timely. It provides an open venue for all participants to share national experiences and lessons learned about two topics dominating the health reform agendas of many countries." Specific topics covered in the workshop include health financing trends in the MENA region, UHC country experiences, supply-side readiness for implementing UHC, global and regional trends in the burden of non-communicable diseases and injuries. The seminar is part of an annual series of knowledge-sharing events organized by the World Bank and the IMF in Kuwait. Oussama Kanaan, Director of the IMF Middle East Center for Economics and Finance in Kuwait, which hosted the policy seminar, discussed in his opening remarks the increased emphasis the IMF has placed in recent years on "inclusive development," in which building a strong health care system benefiting all segments of society is a key component.More than 36 million people die each year from NCDs, and around 80 percent of these deaths are in low- and middle-income countries. "The rapid shifts in disease burden towards NCDs place poor people in these countries at higher risk of not having access to appropriate services and incurring payments for health care that push them deeper into poverty," said Tim Evans, Senior Director for Health, Nutrition and Population at the World Bank Group, and one of the seminar participants. "To help address this challenge, the World Bank is supporting countries around the world to achieve UHC by 2030, using our global knowledge, country programs and financial support."The challenge for MENA countries is how to expand health coverage schemes to cover everyone, provide a range of quality health services, and protect them financially – in the face of a burgeoning NCD crisis. The GCC countries have some of the highest rates of obesity and diabetes prevalence in the world. In 2030, NCDs will account for around 87 percent of all deaths in GCC countries and around 81 percent in in-non-GCC states. "Among the most pressing health system challenges in the MENA region are inadequacies in health coverage and a spiraling NCD epidemic, particularly in the GCC region," said Enis Barış, World Bank Practice Manager for Health, Nutrition and Population in the MENA region. "The World Bank can support MENA countries tackle these twin challenges through financial mechanisms, analytical work, and knowledge sharing about global experience." Show Less -
Plunging Oil Prices Bring Gains and Losses to the Middle East and North Africa Region
New World Bank Report Details the Varying Impacts of the Decline in Prices on the Region's Oil Importers and ExportersWASHINGTON, January 29, 2015 – The over-50 percent decline in world oil prices—fro... Show More + m US$115 a barrel in June 2014 to less than US$50 today—will have significant consequences for the economies of the Middle East and North Africa (MENA) region. According to the World Bank's latest MENA Quarterly Economic Brief the oil importers that are expected to gain include Jordan, Tunisia, Lebanon and Egypt. The trade balances for these countries could improve by up to 2 percent of GDP. The oil exporters will likely run larger fiscal and current account deficits or their surpluses will shrink substantially. "Oil importers will benefit from lower import and fuel subsidy bills, while exporters—some of whom depend on oil for 80 percent of their income—will lose export and fiscal revenues," said Shanta Devarajan, World Bank Chief Economist for the Middle East and North Africa region.The report, Plunging Oil Prices, focuses on the implications of low oil prices for eight developing countries, or the MENA-8 (oil importers: Egypt, Tunisia, Lebanon and Jordan and oil exporters: Iran, Iraq, Yemen and Libya) and the economies of the GCC (Gulf Cooperation Council), who play a major role in providing funds in the form of aid, investment, tourism revenues and remittances to the rest of the countries of the region.Yemen and Libya are among the most vulnerable oil producers while Iran and Iraq could experience a worsening of the oil trade balance (net oil exports) in excess of 10 percent of GDP in 2015. The oil-exporting countries of the Gulf Cooperation Council are in a much better position due to their ample reserves, but they too could endure over a US$215 billion loss in oil revenues, more than 14 percent of their combined GDP."The oil shock could threaten the ability of some of the oil exporters to meet domestic spending commitments," said Lili Mottaghi, World Bank MENA Economist and the author of the report. "Their options include drawing down reserves, accumulating debt, and cutting spending on fuel subsidies and public-sector salaries."Oil importers such as Egypt, Jordan and Lebanon face a risk as their economies receive large flows of remittances and aid from the GCC. However, based on previous episodes, the MENA Quarterly Brief concludes that lower oil prices will likely lead to slower growth, but not a decline in remittances. Show Less -
MENA Quarterly Economic Brief, January 2015: Plunging Oil Prices
The over-50% decline in world oil prices—from US$115 a barrel in June 2014 to less than US$50 today—will have significant consequences for the economies of the Middle East and North Africa (MENA) regi... Show More + on. This report titled " Plunging Oil Prices", focuses on the implications of low oil prices for eight developing countries, or the MENA-8 (oil importers: Egypt, Tunisia, Lebanon and Jordan and oil exporters: Iran, Iraq, Yemen and Libya) and the economies of the GCC (Gulf Cooperation Council), who play a major role in providing funds in the form of aid, investment, tourism revenues and remittances to the rest of the countries of the region. Show Less -
Who Gains and Who Loses from Plunging Oil Prices in the Middle East and North Africa Region?
Judging by the futures market, where the price of oil for delivery in August 2015 is US$56 per barrel, there is little optimism about a recovery in oil prices. With cheap oil looking like it is here t... Show More + o stay, the latest Quarterly Economic Bulletin offers a breakdown by country of the potential regional consequences. Here are the highlights: Gulf Cooperation Council (Loss) oil and gas revenues in 2013 accounted for over half of the Gulf economies' GDP and 75% of total exports earnings. If prices stay low for a sustained period it is estimated that the region's governments will face over a US$215 billion loss in oil revenues, more than 14% of their combined GDP. Gulf countries had on average been earning more than they spent, but the combination of rising government spending and falling oil prices could reverse that. The combined fiscal surplus of about 10% of GDP in 2013 could turn into a deficit of 5% of GDP. While they have significant reserves to cover any shortfalls, there are signs that regional governments are re-thinking their spending. Saudi Arabia – with reserves of US$700 billion – is preparing to increase energy and fuel prices. Bahrain, the most severely affected, is contemplating a request for budget support from its Gulf allies. Oman has released a 2015 budget that includes no spending cuts or additional revenues, but may resort to both in the year ahead. The UAE has begun searching for additional sources of revenue, including a tax on remittances – if this policy is adopted throughout the Gulf, it could impact the hiring of expatriates and the flow of remittances. Total remittances from GCC countries to the rest of the Middle East and North Africa region amounted to US$21 billion in 2013, with Saudi Arabia accounting for half that figure.Egypt (Gain) Oil consumption in Egypt has been rising by an average of 3% per year, outstripping what the country can produce. Cheaper oil will allow Egypt to buy more of it from a greater variety of sources to meet its rising demand. Look for fewer blackouts this summer, which would be a boost to political and social stability. If oil stays at the current price of around US$50 per barrel, Egypt will be able to save on the EGP 100.4 billion budgeted for energy subsidies (based on an expected price of US$105 per barrel.) Cheap oil is also expected to lower inflation and poverty rates – the one downside is potentially fewer tourists from the Gulf, and fewer expatriates sending money home. The impact of the latter will depend on how long lower oil prices stick around.Iran (Gain/Loss) politics will be as important as the price of oil for Iran. If a deal is reached in the nuclear talks with the P5+1 (the United Nations Security Council and Germany) and oil sanctions are lifted, oil exports are expected to rebound to pre- sanctions levels by 2017. As oil makes up about 80 %of total export earnings and 50 to 60% of government revenues, the economy could grow substantially under this scenario. With no deal, cheap oil could mean a 60% drop in fiscal revenues, down to $23.7 billion in 2015 from its peak of $120 billion in 2011/12. Under this scenario, a loss of about 20% of GDP would be expected, bringing GDP growth down to zero (from the previous year's 1.5%), and the economy would continue to shrink. This will put tremendous pressure on inflation, unemployment, the fiscal deficit and the currency.Iraq (Loss) oil exports have increased, despite the current turmoil, reaching an average of 2.9 million barrels per day in December 2014, the highest level since 1980. Oil revenues, however, fell from May to December, 2014 – the value of monthly exports dropped from $8 billion to $5.4 billion. This comes at a time when spending is higher than usual as the government battles to regain ground from ISIS. Lower oil prices will further squeeze government finances, with GDP growth expected to fall to 1.5% in 2015 – remarkably low for a country that should still be in reconstruction-driven growth. The draft 2015 budget – which was based on an anticipated price of US$70 per barrel – is being revised to identify savings through a freeze on public hiring and rooting out abuses (such as the infamous 50,000 'ghost soldiers.') The government is also seeking to delay its final reparation payments to Kuwait, which would defer nearly $5 billion. Even with these savings, maintaining government spending in the face of falling oil revenues will pose a significant challenge. The situation is further complicated by ISIS cutting off the main northern supply routes, raising the price on all imports, including food. This will make the country's universal food ration system, which is the sole source of nutrition for many Iraqis, more expensive to maintain. Jordan (Gain) the large drop in oil prices is a positive shock, promoting growth by lowering the cost of production. The government will be able to save the US$300 million budgeted in 2015 to compensate households for the lifting of fuel subsidies (the system of cash transfers was designed to stop automatically once oil fell below US$100 per barrel.) Both citizens and refugees will benefit from lower prices, as inflation dropped to its second lowest level since December 2009. Over the medium term, though, if cheap oil persists Jordan could see fewer remittances from its expatriate workers in the Gulf (over 60% of remittances to Jordan originate from the Gulf.) With lower revenues, Gulf countries could also be less generous with grants. Jordan relies heavily on these grants, and they were expected to form 2.7% of GDP in 2015.Lebanon (Gain) one significant way in which cheap oil will save the government money is by lowering the cost of supporting the national electric utility, Electricité du Liban (EdL). With tariffs unchanged since 1996 – when oil was $23 per barrel – EdL only covers a fraction of its costs. The government picks up the difference, with transfers to EdL amounting to 4.7% of Gross Domestic Product (GDP) since 2011. Lower oil prices will lower the cost of generating electricity and shrink EdL's shortfall. This will in turn lower the transfers to EdL, albeit with a 6-9 month lag given the structure of outstanding contracts with fuel oil and gasoil providers. At an average of 8.3% of GDP, imported oil is also a significant component of Lebanon's trade deficit, which cheaper oil will help to improve. The benefits will be counter balanced by the fact that, like other countries in the region, cheaper oil could affect the amount of money sent home by Lebanese expatriates in the Gulf. Yet as energy imports are greater than the total value of all remittances, a cheaper price per barrel is expected to improve the country's balance of payments.Libya (Loss) there will be a high price to pay in lost oil revenues if rival political factions do not reach an agreement. Oil production is currently at one-fifth of its pre-crisis 1.6 million barrels per day. Libya has accumulated substantial financial reserves but the combination of low oil prices and low output has forced the government to draw on it. Reserves reached $100 billion in August 2014, falling by 20% since the start of the year, and could be depleted in four years if the current situation persists. One quarter of the population is on the public payroll, and public sector wages have been increased by 250% since the 2011 revolution. With no increase in oil production on the horizon, the government will struggle to meet its obligations. The Tripoli-based rival parliament recently announced that it was considering lifting fuel subsidies which stand at 20% of GDP – a move that would help close some of the widening gap between public spending and revenues.Tunisia (Gain) the newly approved budget was based on an anticipated oil price of $95 per barrel. Cheaper oil will mean the government will have to spend far less on energy subsidies. Lower oil prices will also lower the cost of producing and transporting food. A 15% drop in energy prices coupled with a 5% drop in the price of food could increase real incomes of the poor by 3 percent and of the bottom 40 percent of the population by 2.5 percent.Yemen (Loss) oil dominates the government budget. Lower prices combined with ongoing political instability (including frequent sabotage of oil pipelines) halved oil revenues. Receipts from May to September, 2014 totaled US$1.4 billion, compared with US$2.4 billion for the same period in 2013. Yemen also relies on remittances from expatriate workers in the Gulf – the source of 90% of all remittances – which may also be affected. Lower oil prices are expected to reduce prices of imported goods, though, and boost household consumption, especially for food items, as 55% of food products are imported. In addition, inflation would likely drop, as food constitutes about 44% of the Yemeni consumer's spending. Yet to protect its currency and compensate for the drop in oil revenues, Yemen has been drawing on its foreign reserves. The country currently has enough to cover 4.6 months of imports, down from 5.1 months in September. This downward trend is likely to continue in the face of cheap oil and continued instability – and the decision by Saudi Arabia to suspend most of its aid. Yemen will need ongoing assistance from its development partners if it is to avoid a balance of payments crisis in the coming years in which it is unable to afford critical imports.*For more detailed analysis, please visit the latest issue of the Quarterly Economic Brief Show Less -
World Bank and Islamic Development Bank Join Forces to Improve Quality and Relevance of Education
WASHINGTON, October 12, 2014 – The World Bank Group and th... Show More + e Islamic Development Bank announced an agreement today to coordinate efforts on education as one of the most powerful instruments for reducing poverty and inequality and for laying the foundation for sustained economic growth. The initiative is aimed at developing joint strategies for improving education and training systems in member countries of both organizations, with a primary focus on the Middle East and North Africa region."The Arab world has made impressive gains in ensuring access to education, but we know from the high levels of youth unemployment that urgent work is needed on the quality of learning," said Jim Yong Kim, World Bank Group President. "Our goal is to draw on the complementary strengths of both organizations to develop strategies for the entire path from school to work, to make sure young people not only have the right skills for the labor market, but that they can become the engines of growth.The Education for Competitiveness initiative was signed by World Bank Group President, Jim Yong Kim and his counterpart at the Islamic Development Bank Group, President Ahmad Mohamed Ali Al-Madani. The initiative will consolidate and build on collaborations already underway on research to boost the employability of Arab youth and in support of regional efforts to improve the quality of education. The Education for Competitiveness initiative will focus the full range of both organization's resources and expertise on the entire educational spectrum from early childhood development through to higher education and jobs training. The initiative is motivated by the conviction that human development is essential for sustainable growth, and that it requires a sequenced combination of education, training, and labor market activities."The critical importance and far-reaching implications of addressing the education-employment nexus across the region cannot be overstated," said Ahmad Mohamed Ali Al-Madani, President of the Islamic Development Bank Group. "Our two institutions fully understand the daunting job creation challenge facing our common member countries, which is why we have decided to join forces in our quest for innovative and effective solutions under the overarching theme of education for competitiveness".Each organization has identified a dedicated team that will form part of a joint working group. The initiative will organize all activities around three main pillars. The first, Education for Lifelong Learning, will focus on the quality of learning in levels K through 12, with an emphasis on promoting critical thinking and problem solving. This pillar will include support for policy reform, better governance of institutions and teacher training. The second, Education for Employment, will build on ongoing work on the relevance of education to labor market demand, with support for skills development for young people and women, training to encourage entrepreneurship and innovation, vocational education and job matching systems. The third pillar, Learning for a Competitive Economy, is aimed at building human capacity in areas where comparative advantages exist to strengthen the ability of national economies to adapt to changing global market conditions. "We estimate that the school age population will surge to about 10 million over the next 15 years," said Inger Andersen, World Bank Regional Vice President for the Middle East and North Africa. "This represents a tremendous opportunity for the region, but effective educational systems will be essential in allowing this vast human resource to reach its full potential."The Education for Competiveness initiative is also intended to attract other international organizations and donors with similar goals, to increase the impact of development projects focused on training and education by broadening coordination and pooling resources, and avoiding the duplication of efforts. Show Less -
Middle East and North Africa Needs Young and Productive Firms to Create Jobs
WASHINGTON, October 10, 2014 – The Middle East and North Africa (MENA) region has long struggled to generate enough quality jobs for its large and increasingly educated workforce, but this c... Show More + an be turned around. Governments can make significant strides in job creation by reforming policies used to protect politically connected companies, which would in turn promote competition, and ensure equal opportunities for all firms, according to a new regional World Bank study.Jobs or Privileges: Unleashing the Employment Potential of the Middle East and North Africa, launched today highlights the central role of promoting competition to stimulate private sector growth. It establishes that young and productive firms generate employment in the region's economies. Policies to protect privileged insiders, however, have constrained competition, and stifled the growth and productivity of these firms."The employment challenges of the MENA region are inextricably linked to its economic governance challenges," said Inger Andersen, World Bank Regional Vice President for the Middle East and North Africa. "The economies of the region will need to be more open and provide a level playing field for job creation to increase and meet the needs of citizens."The report offers a comprehensive analysis of the harm to competition caused by privileges to politically connected firms. In Egypt, employment growth declines by about 1.4 percent annually when connected firms enter new, previously competitive sectors. According to the report, 71percent of connected firms in Egypt, compared to only 4 percent of all firms, sell products that are protected by at least three technical import barriers. In Tunisia, 64 percent of politically connected firms operate in sectors subject to restrictions on Foreign Direct Investment relative to only 36 percent of non-connected firms."Start-ups and innovative firms are the engines of job creation in MENA but they are having trouble growing," said Marc Schiffbauer, World Bank Senior Economist and lead author of the report. "These firms currently face a host of obstacles in the business environment that are too often there because they benefit a few politically connected firms".The report draws on newly available economic data to identify the patterns of privilege to connected firms, their distortive effects on policies and detrimental impact on job creation. In assembling the most comprehensive firm census database ever put together for the region, the report also contrasts the impact of industrial policy as practiced in MENA countries with the more successful experience of a number of East Asian countries.The report highlights a number of economic policy reforms across the region such as reducing the scope of privilege which will require a strong public administration, hired on the basis of merit, to implement the policy changes and build open markets that are resilient to the risk of capture. The report recommends that these reforms be implemented in a transparent and open policymaking environment that keeps citizens aware of government action and allows them to provide inputs into policy. Show Less -
Fewer Privileges and More Jobs Needed in the Middle East and North Africa
The millions of workers, consumers, and entrepreneurs who bear the cost of this are often unaware the impact these policies have on the opportunities to which they aspire. In Egypt, for example, aggre... Show More + gate employment growth declines by about 1.4 percentage points a year when connected firms enter new business sectors. Without grasping this, the internal debate critical for economic reform is curtailed.In economies in MENA, like economies everywhere else, it is the start-ups and the most productive firms that are the engines of job creation. The report provides plenty of evidence to support this: in Lebanon, about 177 per cent of net job creation from 2005 to 2010 was generated by micro start-ups; in Tunisia, small startups created 580,000 jobs from 1996 to 2010—92 percent of all net job creation. Although it has fewer start-ups overall, Jordan provides a striking example of what entrepreneurs can achieve against the odds. Unable to tap start-up capital, a Jordanian couple who returned home in 2002 after working for the Swedish communications firm, Ericsson, used their own contacts and money to set-up a software company. By 2008, it employed 100 engineers locally and exported 80 percent of its products.The region needs a larger pool of young firms and productive firms like this to unleash private sector job creation. However, existing rules tend to protect established insiders rather than encourage new ventures, creating few incentives to turn good ideas into new ventures. Only six limited liability companies are created per 10,000 working-age persons on average each year in the region, compared to 20 across 91 developing nations, and as many as 40 and 80 in Chile and Bulgaria.This means that despite the fact that more than 65 percent of the populations of most MENA countries are of working age, the energy of a growing workforce has largely gone to waste. Instead of filling skilled, high-productivity jobs (such as those in the software industry), relatively well-educated jobseekers have disappeared into low-productivity services in the retail trade, hotels and restaurants— often jobs with fewer benefits or opportunities for advancement. Women, who face cultural hurdles, have the lowest representation in the labor force anywhere in the world.Only by removing the type of privileges described in this report can the region move toward the level of job creation it needs. The report shows that promoting open markets and competition, and leveling the playing field, will provide an environment conducive to entrepreneurship and the emergence of dynamic firms. Reforms initiated transparently would make sure citizens are aware of what their governments are doing and can provide input into policymaking. Show Less -


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The Giant Beastcast: Episode 06
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Titus is the captain of the 2nd Company of the Ultramarines. He is a veteran of several major campaigns and has earned a reputation as one of the mightiest Ultramarines.
A radical inquisitor whose obsession with defending the Forge World led him to order the Forge World's scientists to open a portal, which brought about an invading Chaos warband.
Leandros is the most recent inductee to the Ultramarines command squad. He is a "by the book" Ultramarine, revealed by his overly formal speech and his enthusiasm to do things just right.
Chapter Master of the Ultramarines space marine chapter.
2nd Lieutenant Mira is one of the few surviving members of the 203rd Cadian Regiment on the Forge World Graia. She is forced to take command of the forces on the ground after her commanders were killed.
A veteran Ultramarine who serves as Captain Titus's Second-in-command. He is brutally efficient in combat and will stop at nothing until all enemies are dead at his feet.
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