Economics & Development

This note outlines the status of living conditions in Ukraine during the fourth year of Russia’s invasion of Ukraine, which began in February 2022, highlighting the conditions of, and impacts on, poor and vulnerable groups. The findings in this note are based on a combination of official surveys prior to 2022, an unofficial household survey collected by UNICEF in 2023, and the World Bank Listening to Ukraine phone surveys (L2UKR) collected between 2023 and 2025

Construction finance refers to the funding of land development and building construction. As such, it is an essential - even if often overlooked - part of any effective national housing finance system. Developers can be associated with different forms of construction finance, each of which can play an important role: developer equity, buyer deposits (including presales), developer finance to buyers (installment sales), construction loans provided by financial intermediaries to developers, and, more recently, bond markets through the securitization of construction loans. This technical note analyses Ukraine’s construction finance sector, identifying challenges and reforms. Its purpose is to inform policymakers and stakeholders on strategic interventions to rebuild and develop housing and construction, leveraging public and private resources for a robust, transparent, and resilient ecosystem aligned with international best practices and reconstruction needs. The note focuses on financing housing construction in Ukraine covering banks, non-bank financial institutions, and capital markets. It examines legal, regulatory, and institutional frameworks, plus market practices.

The Western Balkans have achieved steady economic growth over the past decade, but this progress has been accompanied by significant environmental challenges, particularly air pollution. The region remains highly carbon intensive, with widespread reliance on coal, solid fuels for residential heating, outdated industrial assets, and aging transport fleets. Air pollution imposes substantial public health and economic costs, with particulate matter concentrations exceeding recommended levels across many cities. Residential heating is the primary source of fine particulate pollution, while industry and transport also contribute significantly. Despite a strong evidence base on pollution sources, the most significant obstacles to cleaner air are institutional, including weak governance, fragmented coordination, insufficient financing, and limited enforcement. The report highlights the need for coordinated regional and national action, strengthened implementation of EU air quality standards, targeted hotspot-based interventions, and greater integration of air quality and climate policies. It emphasizes that achieving cleaner air will require stronger institutions, sustainable financing, regional cooperation on transboundary pollution, and a shift from planning to effective implementation to improve public health, economic productivity, and environmental sustainability.

The Debt Sustainability Analysis (DSA) finds Uzbekistan’s risk of external debt distress is low and debt carrying capacity is strong. Under the baseline scenario, public and publicly guaranteed (PPG) external debt and total external debt gradually fall from their 2025 levels of 26 and 54 percent of GDP, respectively. Compared to the previous June 2025 DSA, the paths of the PPG external and total external debt-to-GDP ratios are modestly lower over the medium term. Under stress scenarios, the indicators for PPG external debt remain below relevant thresholds. The realization of contingent liabilities from state enterprises, public-private partnerships (PPPs), and financial markets remains the greatest potential shock to the PV of PPG external debt-to-GDP ratio. A large negative shock to exports and a onetime depreciation would have the largest potential impacts on other external debt indicators

The e-GP Cybersecurity Manual is a comprehensive guide designed to strengthen the security, resilience, and trustworthiness of electronic Government Procurement (e-GP) systems. Developed in response to the increasing complexity and risk landscape of digital procurement, the manual provides actionable frameworks and best practices for policymakers, managers, IT professionals, and procurement officers. It is organized around seven foundational pillars, covering governance, risk assessment, technical controls, procurement lifecycle security, incident response, continuous improvement, and maturity assessment. A distinctive feature of this manual is its integration of lessons learned from in-depth reviews of e-GP systems in Mongolia and Thailand. The experiences and insights gained from the State Procurement Agency of Mongolia and the Comptroller General's Department of the Ministry of Finance of Thailand were instrumental in shaping the manual’s recommendations. Their systems provided real-world examples of both challenges and effective solutions, enriching the manual with practical knowledge that is directly applicable to diverse institutional contexts. The manual aligns with international standards such as ISO/IEC 27001 and the NIST Cybersecurity Framework and incorporates global best practices alongside regional experiences. It offers clear roles, responsibilities, and escalation procedures, supporting institutions in building a culture of accountability, continuous improvement, and stakeholder engagement. Emerging challenges—including supply chain attacks, AI/ML risks, and cross-border data governance—are addressed to ensure e-GP systems remain secure and adaptable

This budget brief is part of a series of reports summarizing developments’ in Myanmar’s public finances. Complementing the World Bank Myanmar Economic Monitor (December 2025) and budget brief (March 2025), the brief presents the new information by the authorities for FY2023/24 -FY2026/27 projection to provide a more accurate financial picture.