The World Bank Group works with countries in Europe and Central Asia to help improve people's lives and achieve shared prosperity in a variety of ways, including through financial lending and analytical and advisory services. Our work aims to help countries achieve better competitiveness, more inclusive growth, and to adapt to climate change and improve energy efficiency.
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On a recent trip to Istanbul, I participated with Turkish Undersecretary of the Treasury Dagdas in the launch of the World Bank’s new “Turkey’s Transitions” report. The report examines Turkey’s experience... Show More + in the transition from a lower middle-income to an upper middle-income economy, and looks at what has worked well and what needs to change. It holds valuable lessons for other emerging market economies on the way to high income status, and is part of an effort in the World Bank Group to better record and facilitate access to development knowledge residing in the experience of our clients as well as our own staff. For more on the report, please see the infographic, video interview and feature story. Below are my remarks at the event. Opening Remarks for Launch of the “Turkey’s Transitions” ReportDear Undersecretary Dagdas, Excellencies and Honorable Guests from around the region, Ladies, and Gentlemen,It is my great pleasure to be with you on this occasion – Show Less -
Dear Minister Saidov, Rector Imomov, Senior Government Officials, distinguished professors, dear students of Tajik National University!It is a great pleasure and honor to be with you today. This is my... Show More + second visit to Tajikistan – and my first in my capacity as the Vice President for the Europe and Central Asia region in the World Bank. I am particularly pleased to among so many young people. As a mother of two children your age, I understand the many challenges you face as students. I also see the promise you hold, not just for this country, but for the global community.As you are aware, this region is already undergoing rapid demographic change. Over the coming decades, the populations of most countries in Eastern Europe and the CIS region will become older and the number of workers will shrink. For example, in Russia, the share of elderly people over 65 is projected to reach 23 percent of the population by 2050 – from 13% now; in Central Europe, it is projected to reach 27 percent (f Show Less -
Honorable Prime Minister,Honorable Ministers,Ladies and Gentlemen:Before the global financial crisis of 2008, Albania was among the fastest growing countries in Europe. The crisis has dramatically... Show More + slowed growth in Albania. Immediate policy response to the global crisis was weak, prolonging a period of low investment and growth, reversing progress in poverty reduction and exacerbating macroeconomic and fiscal imbalances that have left public debt at crippling levels. These macroeconomic and fiscal imbalances are a roadblock to growth and jobs. The country has a large unfinished reform agenda. So it is important to have a clear vision and a sequence for correcting these imbalances and pursuing structural reform. I am delighted to be here today to acknowledge the seriousness with which you and your team, Honorable Prime Minister, are pursuing this medium-term path to growth and jobs, and tackling some difficult reform areas. Our signing ceremony today--for two budge Show Less -
Remarks by ECA Vice President Laura TuckIt is my pleasure to be with you today. This is my first visit to the European Commission as the incoming Vice President for the Europe and Central Asia region.I... Show More + understand that in the past few years the cooperation between our institutions has become increasingly substantive, especially in the Western Balkans. The Country Days, which are now a regular feature of our cooperation, helped our institutions understand each other’s perspectives, priorities, and instruments. The evolution of the Country Days testifies to the changed quality of our partnership – from exchange of views in the early days to genuine joint work today.I can also speak for all my colleagues in expressing our deep appreciation for the progress that we have made in our cooperation with European IFIs through a variety of mechanisms such as the Vienna Initiative, the Joint Financial Action Plan, and the Western Balkans Investment Framework. We also see the results of our cooperat Show Less -
One of the key challenges in both countries is the flooding of mines that supply coal to their main power plants. In Serbia, flooded mines supply the coal needed for about one third of the country’s power... Show More + generation, and one of these mines is currently under 60 meters of water. It could take nine months to pump and repair this mine, making the import of fuel or electricity a priority. While the short-run impact of the floods is clearly negative, flood recovery and reconstruction can be expected to boost growth later in 2014 and into 2015. Accelerated and sustained growth in the Western Balkans is critical. Citizens of these countries aspire to living standards on par with those of the European Union, and this is natural. The EU is the largest economic bloc in the world - larger than the economies of the US or China - and economic integration with Europe for these countries is key to their prosperity. This is true regardless of the timing of their formal membership in the E Show Less -
Good evening Ladies and Gentlemen. I am pleased to be at this remarkable event today and have the opportunity to hear the perspectives of the participants representing so many different countries from... Show More + Europe, Central Asia, the Middle East and North Africa. As the Vice President for Europe and Central Asia, I would like to focus my remarks on this part of the EMENA region.We all know that climate change is a threat to sustainable economic development. We also know that without bold action now the warming planet will put prosperity out of the reach of millions of people. This forum is intended to inspire all of us to take bold action now.The Potsdam Institute of Germany has recently prepared a report called Turn Down the Heat, which gives a snapshot of the latest climate science. The report warns that we are on a path to a much warmer world by the end of this century – warmer by an average of 4 degrees Celsius, if current levels of greenhouse gas emissions continue. The report gives a cl Show Less -