This report summarizes the findings of
Investment Climate Assessments (ICAs) carried out for all
countries in the South Asia region. It compares South Asian
countries to countries in other regions, analyzes
similarities and differences within the region, and
identifies the way forward in improving the investment
climate. The first volume analyzes similarities and
differences within the region and between South Asia and the

This report summarizes the findings of
Investment Climate Assessments (ICAs) carried out for all
countries in the South Asia region. It compares South Asian
countries to countries in other regions, analyzes
similarities and differences within the region, and
identifies the way forward in improving the investment
climate. The first volume analyzes similarities and
differences within the region and between South Asia and the

This Country Economic Memorandum (CEM)
looks at the broad reform program, including institutional,
governance, and economic restructuring reforms Romania is
pursuing, which are anchored in its process for accession to
the European Union (EU). The challenge is to expand
integration with the EU more broadly throughout the economy,
by relying on market driven mechanisms in a predictable
rules-based policy environment, with the state sharply

Bangladesh has marked considerable
progress since independence in 1971 despite its dire initial
conditions. Real per capita income is about 60percent higher
now than in 1971. The share of population in poverty
currently stands at about 50 percent, compared with over 70
percent in the early 1970s. Even more impressive has been
the progress in improving the social and human dimensions of
poverty. Bangladesh's faster gains in human development

This Financial Sector Assessment (FSA)
is based on the work of the joint International Monetary
Fund (IMF)- World Bank missions that visited Kenya from July
15 to July 24,2003, and from September 30 to October 15,
2003, in the context of the Financial Sector Assessment
Program (FSAP). The principal objective of the missions was
to assist the Kenyan authorities in assessing the
development needs and opportunities for the financial sector

This Country-Level Effectiveness and
Accountability Review (CLEAR) examines the efficacy of
microfinance aid in Madagascar, based on an objective
analysis of donor assistance for the sustainable development
of financial systems targeting the poor. The three levels of
the financial system are the micro level (e.g., retail
institutions), the meso level (e.g., apex, technical service
providers), and the macro level (e.g., regulations and

This report is about how women
entrepreneurs can contribute more to the quality and
direction of economic and social development in the Middle
East and North Africa (MENA) region. Economic growth in the
Middle East has been remarkable since 2004, mainly because
of higher oil prices. Rapid job growth has followed, driven
mainly by the private sector. Yet the region still faces two
important challenges: the first is to create better jobs for

In recent years, the countries of Europe
and Central Asia (ECA) have experienced a marked decline in
investments by international private operators/investors in
local infrastructure-much in line with the trend observed in
other emerging markets. This decline has been particularly
significant in the local water and energy sectors. In light
of the increasingly tight fiscal constraints faced by
governments across ECA, there is a strong need to develop

This qualitative assessment of poverty
in Albania seeks to deepen the understanding of poverty in
the country, first, by involving poor Albanians in a process
of exploring the causes, nature, extent of poverty, and how
it affects their livelihoods. Second, it is intended to
support the Growth and Poverty Reduction Strategy Paper
(PRSP). Third, it supports preparation of the Country
Assistance Strategy (CAS), and the Living Standards

Since independence in 1966,
Guyana's economy has gone through a state control of
major productive sectors, and financial institutions -
including controls of prices, credit, and foreign exchange -
to a combination of political/social unrest, with terms of
trade deterioration, and slow economic growth. This led
Guyana to become the fourth poorest country in the Western
Hemisphere, despite its rich endowment in mineral resources,

This is the first Economic Report on
Afghanistan by the World Bank in a quarter-century. It is
intended to contribute to a better understanding of the core
challenges that lie ahead for the country and key strategic
priorities for national reconstruction. It focuses on the
conceptual frameworks, policies, and institutions that will
be needed to achieve core national objectives of
state-building; sustained rapid, broad-based economic

Timor-Leste has achieved enormous
progress in rehabilitating its economy, reconstructing its
infrastructure, reintegrating its refugees and building the
key elements of a sustainable political process in an
environment of internal peace. It now faces many challenges
of nation-building and of overcoming the deprivation
affecting the lives of the poor. This report written in two
volumes lays out the challenge of poverty reduction in