- Overview
- Speakers
- Agenda
Mainstreaming Nature into World Bank Macroeconomic Models presents a joint initiative by the World Bank’s Economic Policy and Environment Departments to account for nature’s contributions to the economy in its country-specific macroeconomic models, MANAGE-WB and MFMod. The resulting “nature-aware MANAGE-WB and MFMod” make it possible to assess how environmental changes and nature-smart policies affect economic growth, employment, and fiscal stability. The report describes the development and automation of linkages between macroeconomic and biophysical models. Pilot applications in India, Uganda, and Sri Lanka highlight the effectiveness of the models in evaluating the benefits of natural capital conservation and restoration in terms GDP, job creation, and carbon sequestration while taking into account the costs of such interventions. The report concludes with a roadmap for mainstreaming these models into World Bank analyses, emphasizing the need for further development and expanded data coverage.
The event highlighted the important role of the World Bank’s nature-aware macroeconomic models in its assistance to client countries meet their sustainable development goals in line with its vision of a World Free of Poverty on a Livable Planet. The team presented key methodological advances and policy analysis capabilities that characterize nature-aware MANAGE-WB and MFMod, as well as the roadmap to mainstream these models in the Bank’s country-based analytical and advisory work. A panel composed of high-level macroeconomic policy makers from three World Bank client countries discussed priority natural capital and climate related issues in client countries that would benefit from nature-aware macroeconomic modeling, and their experiences and plans for adopting such models.
Bekele A. Shiferaw is a senior Environmental Economist at the World Bank’s Environment, Natural Resources and Blue Economy Global Practice working on the economics of natural capital and ecosystems services. He is currently the Program Manager for the Global Program on Sustainability (GPS), the World Bank’s umbrella program and Multi-Donor Trust Fund which aims to strengthen the production and use of economic and financial evidence on the values of natural capital and ecosystem services to inform government and financial market decisions. Bekele has worked in global development with interest in economics of the environment, natural resources, agrifood systems, poverty reduction, and sustainable development issues for over 25 years, including in research, program evaluation, policy analysis and engagement.
Kevin Carey is a Lead Economist in the World Bank Economic Policies Department, covering cross-cutting climate economics issues. Prior to this, he was in advisory roles in the Prosperity Vertical and the MENA region. Previously, he was a Practice Manager for Macroeconomics in the MENA region and Lead Economist for East Africa and the Horn. He is a co-author of the 2018 edition of World Bank report The Changing Wealth of Nations. He has a Ph.D. (Economics) from Princeton University (1996) and a B.A. (Economics) from Trinity College Dublin (1988).
Tijen Arin is a senior environmental economist at the World Bank with more than 25 years of experience in economic and policy analysis of World Bank-supported projects and programs on environment and natural resources. Most recently she co-led the global initiative to incorporate ecosystem services into the World Bank’s two key macroeconomic models. Tijen holds master’s degrees in economics and public policy and in environmental economics from Princeton University and from Duke University, respectively.
Ragchaasuren Galindev is an Economist in the World Bank’s Prosperity, Jobs and Economic Growth department. He holds a PhD and a Master’s degree in Economics from the University of Manchester, as well as a Bachelor’s degree in Economics from the National University of Mongolia. His areas of expertise include Computable General Equilibrium modeling.
Elías Albagli is the Director of the Monetary Policy Division and Chief Economist of the Central Bank of Chile since June 2018. Previously, he was the head of Modeling and Economic Analysis in said Division. He holds a bachelor’s degree in business and economics and a master’s degree in financial economics from Catholic University of Chile. He received his PhD in economics from Harvard University in 2010.
Dr. Albagli has done extensive research in Macroeconomics and Labor Markets, as well as in International Finance. He has taught several courses on these topics at the University of Southern California, University of Chile, and Catholic University of Chile, among other institutions. Dr. Albagli currently teaches the course: “Planetary Boundaries and Economic Development”. He is also an active member of the NGFS task force for nature, as well as the monetary policy workstream, where he co-leads the modeling subgroup.
Arnunchanog Sakondhavat serves as Director of Macroeconomic Strategy and Planning Office at the Office of National Economic and Social Development Council (NESDC), the central planning agency under the Prime Minister’s Office of the government of Thailand. She joined NESDC since 1998. With more than 25 years working at NESDC, she has been engaged in macroeconomic analysis to provide policy recommendations as well as to draft the 5-year National Economic and Social Development Plans in macroeconomics to the government. She has also experience in working as secretariat team in many national committees particularly those related to the economic committee. Her main area of practice is to monitor and to analyze the Thai economy as well as conducting quantitative analysis and forecasting.
Arnunchanog obtained her Doctoral degree from Institute of Development Studies, University of Sussex in UK with the full scholarship from the Royal Thai government. Before that, she earned her master’s degree in Economics from University of Michigan and bachelor’s degree in Economics from Chulalongkorn University in Thailand.
Dr. Sam Mugume serves as the Assistant Commissioner in the Macroeconomic Policy Department at Uganda’s Ministry of Finance, Planning and Economic Development (MoFPED). He is a macroeconomic policy analyst, development planner, and researcher with over 25 years of experience in community development and research on climate change mitigation and adaptation strategies. Dr. Mugume holds a PhD and a Master’s degree in Natural Resource Management (Environmental Economics), as well as a Bachelor's degree in Statistics. He also serves as the Special Representative of Uganda’s Ministry of Finance to the Coalition of Finance Ministers for Climate Action (CoFMCA).
Frederico Gil Sander is the Manager of the Jobs and Growth Unit at the World Bank’s Economic Policy Global Department. Previously, he was Practice Manager for the Global Macroeconomics and Debt unit. He has served as Lead or Senior Economist for Angola, the Democratic Republic of the Congo, Burundi, São Tomé and Príncipe, Indonesia, India, and Malaysia, and worked on Thailand, Laos, Cambodia, and Myanmar.
Prior to joining the World Bank, Frederico worked on emerging-market debt with investment bank Bear Stearns in New York, issuing bonds for emerging-market governments and companies, and provided corporate-finance advisory services to Latin American and European firms.
Frederico holds an MA and a PhD in political economy from Princeton University’s Woodrow Wilson School of Public and International Affairs, and a BA in Economics and International Studies from Yale University.
Time |
|
Speakers |
9:00 – 9:10 |
Introductions |
Bekele Ambaye Shiferaw, Global Program for Sustainability Manager, World Bank |
9:10 – 9:20 |
Opening remarks |
Kevin Carey, Lead Economist, World Bank |
9:20 – 9:50 |
Presentation of the report |
Tijen Arin, Senior Environmental Economist, World Bank Ragchaasuren Galindev, Economist, World Bank |
9:50 – 10:25 |
Panel discussion |
Moderator: Kevin Carey Speakers:
|
10:30 – 10:50 |
Q&A |
|
10:50 – 11:00 |
Closing remarks |
Frederico Gil Sander, Practice Manager, World Bank |
Date: October 01, 2025
Time: 09:00 AM - 10:30 AM ET
Location: Online
Event Contact:
GPS@worldbank.org