The main objective of this study is to
identify the major impediments to access to financial
services in rural areas, and provide practical
recommendations to address the identified problems. The
study aims to inform on rural finance policies and
innovative instruments by examining both supply and demand
sides including an identification of non-financial issues
that restrict development of the rural financial sector.

Despite several attempts at reform,
immovable property rights in Albania are not adequately
secure and represent an important governance challenge.
Problems have resulted from incomplete first title
registration, the lack of accurate cadastral records, and,
in many cases, the absence of reliable evidence of
ownership. Although Albania has adopted legislation calling
for restitution or compensation for owners whose property

Today, 370 million people live in cities
in earthquake prone areas and 310 million in cities with
high probability of tropical cyclones. By 2050, these
numbers are likely to more than double. Mortality risk
therefore is highly concentrated in many of the world s
cities and economic risk even more so. This paper discusses
what sets hazard risk in urban areas apart, provides
estimates of valuation of hazard risk, and discusses

This paper examines the cost of
producing emission reduction credits under the Clean
Development Mechanism. Using project-specific data, cost
functions are estimated using alternative functional forms.
The results show that, in general, the distribution of
projects in the pipeline does not correspond exclusively to
the cost of generating anticipated credits. Rather,
investment choices appear to be influenced by location and

A focus on development results is at the
heart of the Latin America and Caribbean Region s approach
to delivering programs and policy advice with partners in
middle-income and low income countries alike. Through
knowledge, convening activities, and financial services we
strive to help people across the region create better
opportunities and build a better future for themselves,
their families and their country. Documenting, measuring and

An adequate supply of infrastructure
services has long been viewed by both academics and policy
makers as a key ingredient for economic development. Over
the past quarter-century, the retrenchment of Latin
America's public sector from its dominant position in
the provision of infrastructure, and the opening up of these
industries to private participation, have renewed the debate
on the role of infrastructure in the region's

Much of the rural poor -- who are
growing in number -- are concentrated in ecologically
fragile and remote areas. The key ecological scarcity
problem facing such poor households is a vicious cycle of
declining livelihoods, increased ecological degradation and
loss of resource commons, and declining ecosystem services
on which the poor depend. In addition, developing economies
with high concentrations of their populations on fragile

Agriculture plays an important role in
the economies of most countries in Africa. However, few
African countries have been able to capitalize on the
sector's considerable potential to contribute to
economic development through commercialization. Few have
created an enabling environment for agricultural finance in
which lenders and other agents are encouraged to develop
innovative financial products that are well tailored to meet

Argentina has expanded the use of its
portion of the Parana-Paraguay waterways system for the
transportation of soy and other bulk commodities through an
innovative tolling system that self-finances the dredging
and maintenance of the rivers. Brazil, in turn, is pursuing
a 'green trucking' strategy to improve efficiency
of its cargo haulage industry, reduce petroleum usage, and
curb pollution from trucking. For the entire hemisphere, the
expansion of the Panama Canal will bring post-Panama vessels

Developing countries are faced with the
dual challenge of reducing poverty while improving
management of natural capital and mitigating the emission of
greenhouse gases (GHGs) and local pollutants. The challenge
is particularly acute for large, rapidly growing economies,
such as India, China, and Brazil. In response to this
challenge, Energy Sector Management assistance Program
(ESMAP) and the World Bank began in 2007 to provide support

Despite the widespread tariff reductions
sparked by the Dominican Republic-Central America Free Trade
Agreement, borders in the region remain thick, with many
hurdles standing in the way of regional trade. Although
anecdotal evidence suggests that nontariff measures raise
trade costs and inhibit trade in the region, little is known
about the magnitude of these economic effects. This paper
uses a newly collected data set to quantify the incidence of

After a policy-engineered slowdown in
2012, which saw GDP growth decline to 4.8 percent, the
lowest since 2008, Bhutan's economy is expected to
rebound to 6.5 percent this year, supported by hydropower
construction and higher electricity and food production,
following favorable rains. The tight fiscal stance
introduced in 2012 has been maintained to bring spending in
line with lower non-hydro revenues and a slowdown in foreign