This report summarizes the results of the analytical work on housing market finance carried out by the World Bank Group at the request of the Ministry of Finance. The purpose of the work was to inform the policy dialogue about how best to develop a sustainable housing finance market in Nigeria, and improve the effectiveness of interventions aimed at stimulating the housing market and providing quality housing to the population. The work was funded by DFID and carried out over 2013 and 2014.

The primary purpose of this study was to profile residents and living conditions in novostroiki, or the rapidly growing areas of new self-built construction ringing Bishkek where more than one fourth of city residents now live, in order to identify the major problems and areas for potential future Bank and donor engagement. The study findings are based on analysis of results from a survey of 493 households in nine novostroiki established from 1989-1991, as well as focus group findings, a study of the institutional framework, and a study of sanitation.

Uganda’s progress in reducing poverty from 1993 to 2006 is a remarkable story of success that has been well told. The narrative of Uganda’s continued, albeit it slightly slower, progress in reducing poverty since 2006 is less familiar. This was a period in which growth slowed as the gains from reforms years earlier had been fully realized, and weak infrastructure and increasing corruption increasingly constrained private sector competitiveness (World Bank 2015). This report examines Uganda’s progress in reducing poverty, with a specific focus on the period 2006 to 2013.

This study discusses the impact of economic geography and (low) population density on development outcomes in Mali and explores how policies to reduce poverty can be made more effective by taking these two factors into account. The crisis in north Mali which started in 2012 and continues to date has brought questions of economic geography to the center of attention.

James D. Wolfensohn, President of the World Bank Group, discussed that it is crucial to have economic growth and it is crucial to adhere to policies which are tried and true in terms of balance, in terms of equilibrium, in terms of monetary, and fiscal policy. The real issues are how can one deal with poverty within the framework of environmental sustainability, with inclusive and sustainable programs, with participation, and with results that can make a big enough difference.

James D. Wolfensohn, President of the World Bank Group, discussed what the Bank learned in coming to look at the issues of poverty and development. Development requires proper economic policies, but also the essential element of the social aspects and human aspects of society. The Bank’s focus is to think first in terms of poverty—fighting poverty with passion was adopted recently as the first line of our mission statement. Wolfensohn discussed an agenda for action on the issues of inclusion, corruption, transparency, education, knowledge, and private sector environment.

James D. Wolfensohn, President of the World Bank Group, discussed the international development framework; legal and justice system; financial supervision and control at the level of banks, financial markets, capital markets, leasing, and agricultural banks; and social safety net and a social structure to come up with programs for privatization in the former Soviet Union. Governments must be the dominant power in deciding the development agenda. In partnership with a country’s government, the Bank agrees upon a Comprehensive Development Framework.

James D. Wolfensohn, President of the World Bank Group, reassessed the global financial architecture and its impact on Latin America. Latin American countries, being small economies, are very vulnerable to world pressures. After a huge drop in private sector finance, we’re seeing the first signs of return. What we need now is greater transparency and supervision in banking and the private sector—and a better common set of principles and standards. We need decent government, trained government, with capacity at all levels. We need legal systems that work.

World Bank Group President, James Wolfensohn addressed the Board of Governors. In the past year the Bank launched a new initiative—the Comprehensive Development Framework (CDF). The aim was to bring the social and the structural aspects of development together with the macroeconomic and the financial so as to establish a much more balanced and effective approach. The Bank will work with the broad development community—the United Nations, the European Union, bilaterals, regional development banks, civil society, and the private sector—to build genuine partnerships.

The study aims to assess the market for low and middle income housing finance in Bangladesh and identify the demand trajectory of this segment over the next 4 years. In addition, the report identifies factors that constrain the housing finance from serving low and middle income households.

Kenya withstood another difficult year in 2012 as policy tightening and weaker global demand slowed economic activity. With decisive fiscal and monetary policies, the government managed to restore confidence in Kenya's medium term prospects. Kenya's growth rate is still below its potential and its peers, external imbalances remain which threaten its future growth, and the pace of economic growth is not generating enough modern sector wage jobs.

The Philippine economy grew slower than expected at 3.7 percent in 2011, held back by weak public spending and external demand. In the fourth quarter (Q4), growth slightly improved at 3.7 percent. As in past quarters, growth was driven by remittance-fueled household consumption, which grew by 6.7 percent. The government's disbursement acceleration plan was partially successful and contributed 1.3 percentage points (ppt) to gross domestic product, or GDP growth in Q4, up from 0.3 ppt in Q3, but this was not enough to push growth up to the targeted level of around five percent.