Economics & Development

The Sustaining Education and Learning Project aims to strengthen Yemen’s capacity to sustain basic education and learning in Targeted Schools. The AF will be implemented by UNICEF and Save the Children International (SCI)2, will complement and scale up existing project interventions in targeted schools and introduce expanded system-strengthening measures, particularly in teacher management, data use, and girls’ education. As part of the AF, a restructuring is proposed to (i) extend the Project closing date from January 31, 2028, to January 31, 2029, while the IDA grant closing date remains January 31, 2028; and (ii) modify the results framework (RF) to reflect changes in project scope. In line with established practice, as this AF only includes GPE funds, its approval process will be at the RVP level. Anticipated GPE-financed activities were outlined in Annex 2 of the Project Appraisal Document of the IDA grant approved on June 17, 2025. The strategic alignment of IDA and GPE resources will create synergy and help maximize the project’s impact on limiting human capital deterioration and building foundations for a productive labor force. Gender equality will continue to be a central priority, and targeted activities will promote girls’ education and ensure inclusivity. The AF is essential to provide the full package of support, including critical pedagogical assistance and supervision, as the IDA grant is limited to improvements in the school learning environment.

This policy brief provides an operational agenda for moving from clean air-climate actions “co-benefits” to coherent policies and their delivery, with a focus on China’s Key Regions for Air Pollution Prevention and Control within the early years of the 15th Five-Year Plan.

Ratings of the Nepal Finance for Growth DPC (3 of 3) for Nepal were as follows: Overall Outcome was moderately satisfactory; Relevance of Prior Actions was satisfactory; Achievement of Objectives (Efficacy) was moderately satisfactory; Bank Performance was moderately satisfactory. Key lessons and recommendations are as follows. In capacity-constrained settings, align reform ambition with institutional absorption capacity and underpin it with embedded technical assistance, particularly in new reform areas, while ensuring realistic sequencing and data availability. Early and systematic engagement of the International Finance Corporation strengthens design quality and implementation across banking, capital markets, insurance, digital payments, and credit infrastructure, and should be planned from the outset. Results indicators should be anchored in publicly available, routinely collected administrative data and supported by functioning monitoring and evaluation systems; indicators that hinge on high-level political decisions should be avoided unless there is clear government commitment, and mid-course adjustments should be made when measurement constraints emerge. Cross-cutting agendas, notably climate and green finance, require explicit multi-regulator and multi-agency coordination mechanisms, including common standards and taxonomies, to ensure comparable and mutually reinforcing disclosures and instruments. Political transitions pose material risks to program continuity; mitigation should include structural safeguards such as handover protocols, continuity commitments at technical levels, careful sequencing of prior actions, and minimizing reliance on legislative steps that are sensitive to political timing. Finally, recognize the time lag between legal and regulatory reforms and observable market outcomes by defining intermediate, verifiable outputs within the program period and clearly articulating longer-term results pathways to sustain momentum beyond the operation’s timeframe.

The development objective of Growth and Resilience Second Development Policy Financing Program is to support the Government of Fiji in its efforts to build fiscal, climate and disaster resilience, and the foundations for private sector development. Fiji’s National Development Plan (2025–2029), anchored in Vision 2050, aims to address structural constraints to inclusive and sustainable growth through economic resilience, people empowerment, and good governance. The Development Policy Financing (DPF) series supports this agenda by strengthening fiscal buffers and disaster preparedness, promoting private sector–led growth and MSME financing, and modernizing regulatory frameworks in tourism and finance. Building on earlier pandemic-response DPFs (2021–2022), the program advances structural reforms, aligns with the Country Partnership Framework, and leverages coordinated support from development partners. The results framework contributes to macro-fiscal sustainability, financial inclusion, human capital development, and digital financial services, while reinforcing climate resilience and disaster risk management in line with Fiji’s climate commitments. The operation also supports enabling reforms under the Maximizing Finance for Development approach, improving regulatory certainty, lowering transaction costs, and fostering private investment in tourism and digital financial ecosystems.