World Bank in the context of "Developing world"

⭐ In the context of developing countries, the World Bank primarily utilizes what metric to classify the world's economies into distinct groups?

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⭐ Core Definition: World Bank

The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Group. The bank is headquartered in Washington, D.C., in the United States. It provided around $98.83 billion in loans and assistance to "developing" and transition countries in the 2021 fiscal year. The bank's stated mission is to achieve the twin goals of ending extreme poverty and building shared prosperity. Total lending as of 2015 for the last 10 years through Development Policy Financing was approximately $117 billion. Its five organizations have been established over time:

The first two are sometimes collectively referred to as the World Bank. They provide loans and grants to the governments of low- and middle-income countries for the purpose of pursuing economic development. These activities include fields such as human development (e.g. education, health), agriculture and rural development (e.g. irrigation and rural services), environmental protection (e.g. pollution reduction, establishing and enforcing regulations), infrastructure (e.g. roads, urban regeneration, and electricity), large industrial construction projects, and governance (e.g. anti-corruption, legal institutions development). The IBRD and IDA provide loans at preferential rates to member countries, as well as grants to the poorest countries. Loans or grants for specific projects are often linked to wider policy changes in the sector or the country's economy as a whole. For example, a loan to improve coastal environmental management may be linked to the development of new environmental institutions at national and local levels and the implementation of new regulations to limit pollution. Furthermore, the World Bank Group is recognized as a leading funder of climate investments in developing countries.

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👉 World Bank in the context of Developing world

A developing country is a country with a less-developed industrial base and a lower Human Development Index (HDI) relative to developed countries. However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. The terms low-and middle-income country (LMIC) and newly emerging economy (NEE) are often used interchangeably but they refer only to the economy of the countries. The World Bank classifies the world's economies into four groups, based on gross national income per capita: high-, upper-middle-, lower-middle-, and low-income countries. Least developed countries, landlocked developing countries, and small island developing states are all sub-groupings of developing countries. Countries on the other end of the spectrum are usually referred to as high-income countries or developed countries.

There are controversies over the terms' use, as some feel that it perpetuates an outdated concept of "us" and "them". In 2015, the World Bank declared that the "developing/developed world categorization" had become less relevant and that they would phase out the use of that descriptor. Instead, their reports will present data aggregations for regions and income groups. The term "Global South" is used by some as an alternative term to developing countries.

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World Bank in the context of Global economic output

The gross world product (GWP), also known as gross world income (GWI), is the combined gross national income (previously, the "gross national product") of all the countries in the world. Because imports and exports balance exactly when considering the whole world, this also equals the total global gross domestic product (GDP). According to the World Bank, the 2013 nominal GWP was approximately 75.59 trillion United States dollars. In 2017, according to the CIA's World Factbook, the GWP was around $80.27 trillion in nominal terms and totaled approximately 127.8 trillion international dollars in terms of purchasing power parity (PPP). The per capita PPP GWP in 2017 was approximately 17,500 international dollars according to the World Factbook. According to the World Bank, the 2020 GWP in current dollars was approximately $84.705 trillion.

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World Bank in the context of Economy of Taiwan

Taiwan is a highly developed free-market economy. It is the 8th largest in Asia and 21st-largest in the world by purchasing power parity, allowing Taiwan to be included in the advanced economies group by the International Monetary Fund. Taiwan is notable for its rapid economic development from an agriculture-based society to an industrialized, high-income country. This economic growth has been described as the Taiwan Miracle. It is gauged in the high-income economies group by the World Bank. Taiwan is one of the leading producers of computer microchip and high-tech electronics.

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World Bank in the context of Waste management industry

Waste management industry, or waste industry for short, subsumes all industrial branches concerned with waste management, waste dumping, waste recycling and - to a lesser degree - waste prevention.

Within Germany, waste management has evolved into a large economic sector. There are more than 270,000 people working in some 11,000 companies with an annual turnover of around 70 billion euros (~$78 billion). More than 15,500 waste management facilities help to conserve resources through recycling and other recovery operations. On a global scale, the market size is expected to reach $530.0 billion by 2025 from $330.6 billion in 2017, with a compound annual growth rate of 6.0%. The growth might even continue when, according to a World Bank report, global waste production will grow by 70% from 2018 to 2050, unless severe measures are taken.

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World Bank in the context of Human development (economics)

The concept of human development expands upon the notion of economic development to include social, political and even ethical dimensions. Since the mid-twentieth century, international organisations such as the United Nations and the World Bank have adopted human development as a holistic approach to evaluating a country’s progress that considers living conditions, social relations, individual freedoms and political institutions that contribute to freedom and well-being, in addition to standard measures of income growth.

The United Nations Development Programme defines human development as "the process of enlarging people's choices", such choices allowing people to "lead a long and healthy life, to be educated, to enjoy a decent standard of living", as well as "political freedom, other guaranteed human rights and various ingredients of self-respect". Thus, human development is about much more than economic growth, which is only a means of enlarging people's choices. Some organizations, such as the Catholic Church and the Organization of American States, use the term "integral development" to reflect something wider than "economic" development.

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World Bank in the context of Eco-cities

An eco-city or ecocity is "a human settlement modeled on the self-sustaining resilient structure and function of natural ecosystems", as defined by Ecocity Builders (a non-profit organization started by Richard Register, who first coined the term). Simply put, an eco-city is an ecologically healthy city. The World Bank defines eco-cities as "cities that enhance the well-being of citizens and society through integrated urban planning and management that harness the benefits of ecological systems and protect and nurture these assets for future generations". Although there is no universally accepted definition of an 'eco-city', among available definitions, there is some consensus on the basic features of an eco-city.

The world's population is continuously increasing, which puts a tremendous amount of pressure on cities due to the need for new urban development. There is an urgent need for cities around the world to adapt ecologically based urban development to work towards sustainability. The dimensions of an ecocity provide solutions to improve the living conditions in cities by solving our current unsustainable practices.

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World Bank in the context of Green building

Green building (also known as green construction, sustainable building, or eco-friendly building) refers to both a structure and the application of processes that are environmentally responsible and resource-efficient throughout a building's life cycle: from planning to design, construction, operation, maintenance, renovation, and demolition. This requires close cooperation between the contractor, the architects, the engineers, and the client at all project stages. The Green Building practice expands and complements the classical building design concerns of economy, utility, durability, and comfort. Green building also refers to saving resources to the maximum extent, including energy saving, land saving, water saving, material saving, etc., during the whole life cycle of the building, protecting the environment and reducing pollution, providing people with healthy, comfortable and efficient use of space, and being in harmony with nature. Buildings that live in harmony; green building technology focuses on low consumption, high efficiency, economy, environmental protection, integration and optimization.

Leadership in Energy and Environmental Design (LEED) is a set of rating systems for the design, construction, operation, and maintenance of green buildings, developed by the U.S. Green Building Council. Other certification systems that confirm the sustainability of buildings are the British BREEAM (Building Research Establishment Environmental Assessment Method) for buildings and large-scale developments or the DGNB System (Deutsche Gesellschaft für Nachhaltiges Bauen e.V.) which benchmarks the sustainability performance of buildings, indoor environments, and districts. Currently, the World Green Building Council is conducting research on the effects of green buildings on the health and productivity of their users and is working with the World Bank to promote green buildings in Emerging Markets through EDGE (Excellence in Design for Greater Efficiencies) Market Transformation Program and certification. There are also other tools such as NABERS or Green Star in Australia, Global Sustainability Assessment System (GSAS) used in the Middle East and the Green Building Index (GBI) predominantly used in Malaysia.

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World Bank in the context of Tertiary education

Tertiary education (also called higher education or post-secondary education) is the educational level following the completion of secondary education. The World Bank defines tertiary education as including universities, colleges, and vocational schools. Higher education is taken to include undergraduate and postgraduate education, while vocational education beyond secondary education is known as further education in the United Kingdom, or included under the category of continuing education in the United States.

Tertiary education generally culminates in the receipt of certificates, diplomas, or academic degrees. Higher education represents levels 5, 6, 7, and 8 of the 2011 version of the International Standard Classification of Education structure. Tertiary education at a nondegree level is sometimes referred to as further education or continuing education as distinct from higher education.

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