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This paper uses a global general equilibrium simulation model to quantify the effects of lifting economic sanctions on Iran with and without strategic responses. Iran benefits the most, with average per capita welfare gains ranging from close to 3 percent, in the case when Iran's crude oil exports to the European Union recover to half their pre-embargo level, to 6.5 percent, in the best case of complete recovery of oil exports to the European Union, successful domestic reforms that enable a strong supply response, and increased market access for Iranian exports in developed markets. Iran could achieve benefits close to the upper range if Gulf Cooperation Council oil exporters limit their crude oil exports to support the oil price. If they do nothing, however, the price of oil will decline by 13 percent in the case of complete recovery of oil exports to the European Union, leaving net oil importers better off and net oil exporters worse off.

Among emerging economies, the region of Latin America and the Caribbean has been the hardest hit by the great global deceleration that started six years ago. In fact, the region is just now beginning to rebound after the first back-to back years of recession in more than 30 years. This economic downturn is understandably having some adverse effects. After faster economic growth supported by the commodity boom brought significant social progress, with historic reductions in poverty and inequality, a drop in economic activity is causing families to feel the pinch.

The primary objective of the Southern Gobi Regional Environmental Assessment (REA) is to provide guidance for sustainable management of environmental resources in the future development of the Southern Gobi Region (SGR), development that will be led by rapid expansion of mining. The REA defines two development scenarios-a base-case and a high case-and explores their direct and indirect impacts on the natural environment, taking into account the opportunities, constraints, and vulnerabilities of the Gobi natural systems; the individual and cumulative direct environmental impacts and potential indirect impacts of the planned development; and, at a general level, the institutional capacity to manage the impacts. The REA target audience includes government officials at central, regional, and local levels; private sector investors and the consultants who are engaged for project design and environmental impact assessment; development finance organizations; and Mongolian civil society. This report was discussed in draft form at stakeholder workshops held in Ulaanbaatar and Dalanzagdad in April 2009 and has been revised to reflect comments received. Thanks are due to all those who joined those discussions. The report draws on information from workshops held in Mongolia, in May, September, and October 2008, and a field mission to the Southern Gobi Region in November 2008. Other information was obtained from various mining companies in Mongolia including Ivanhoe mines Mongolia, Inc., and its consultant Eco Trade; Rio Tinto; Energy Resources LLC; and South Gobi Sands.

The main impetus for this report (and for the reports prepared for the other six growth poles) is a request received from the Ministry of Regional Development and Public Administration. The request came within the context of on-going preparations for the 2014-2020 programming period, with energy efficiency being one the major themes of the Europe 2020 strategy, and a critical priority for all EU member countries. Within Romania, local authorities that will want to access energy efficiency funds under the 2014-2020 Regional Operational Program will need to first prepare energy efficiency strategies. The TRACE tool is specifically targeted at local authorities, and is a good instrument for drafting such strategies after the 1989 Revolution; Romania began its transition from a centralized system to a market-run economy. Today the country is a member of the European Union (EU) and NATO. After more than a decade of economic restructuring and political change, the country has taken significant steps to catch up with the economic performance of more developed EU countries. Although radical reforms brought about significant changes, the standard of living of Romanians is still behind the EU average. Cluj-Napoca (Cluj) is one of cities where such disparities are less pronounced, as the region is more developed and prosperous than most regions in the country. Cluj has developed quite well in the past few years, and it has become one of the most flourishing cities in the country, having a good growing potential. At present, the city is an important economic center, home to several local brands that have become famous nationwide as well as in Europe. Moreover, Cluj is known today as the 'capital' of the IT sector in the country, due to an aggressive expansion of this field in recent years.

The main impetus for this report (and for the reports prepared for the other six growth poles) is a request received from the Ministry of Regional Development and Public Administration. The request came within the context of on-going preparations for the 2014-2020 Programming period, with Energy Efficiency being one the major themes of the Europe 2020 strategy, and a critical priority for all EU Member Countries. Within Romania, local authorities that will want to access energy efficiency funds under the 2014-2020 Regional Operational Program will need to first prepare energy efficiency strategies. The TRACE tool is specifically targeted at local authorities, and is a good instrument for drafting such strategies. After the 1989 Revolution, Romania began its transition from a centralized system to a market-based economy. Today the country is a member of the European Union (EU) and NATO. After more than a decade of economic restructuring and political change, the country has taken significant steps toward catching up with the economic performance of more developed EU countries. Although radical reforms brought about significant changes in recent years, the standard of living of Romanians is still behind the EU average. The transition period after the end of the communist regime has led to significant changes in the social and economic life of the residents of Craiova. Some of these developments have positively affected people's life, whereas a few came along with inconveniences and difficulties. During the first years of transition the city attracted people from parts of Dolj County and from elsewhere in Romania. This process led to severe de-population in the rural areas of Dolj County. At the same time, due to economic constraints, some of the urban population of Craiova moved to the wider metropolitan area. Like every other city in the country, municipal buildings in Craiova require proper measures toward improving energy efficiency - particularly in health care and education facilities managed by the city government. A benchmarking of the municipal building stock, along with audit and retrofit measures, should be performed in order to identify the highest energy savings potential and proper intervention measures. As for the water sector, although the system covers the entire city and most of the households in Craiova have water meters, there are high losses in the network. In addition, in order to improve the overall efficiency of the water system, oversized pumps needs to be replaced with smaller, energy-efficient ones. Finally, although selective collection has been implemented in Craiova, there is more that can be done about improving recycling rates.

Infrastructure worldwide has suffered from chronic under-investment for decades and currently makes up more than 60% of greenhouse gas emissions. A deep transformation of existing infrastructure systems is needed for both climate and development, one that includes systemic conceptual and behavioral changes in the ways in which we manage and govern our societies and economies. This report is a joint effort by the OECD, UN Environment and the World Bank Group, supported by the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety. It focuses on how governments can move beyond the current incremental approach to climate action and more effectively align financial flows with climate and development priorities. The report explores six key transformative areas that will be critical to align financial flows with low-emission and resilient societies (planning, innovation, public budgeting, financial systems, development finance, and cities) and looks at how rapid socio-economic and technological developments, such as digitalization, can open new pathways to low-emission, resilient futures.

In considering the prospects for expanding non-commodities exports, the SACU region faces a global environment that has changed markedly over the past two decades. First, trade is increasingly shifting away from high income countries and toward developing countries. Second and perhaps most importantly, is the increasing importance of or ‘global production networks’ or ‘global value chains’ (GVCs). With wages rising rapidly in China and other places where GVC-oriented trade is concentrated, parts of these value chains are migrating to new global locations. Some estimates indicate that over the next generation 85 million manufacturing jobs will migrate from coastal China, and Sub-Saharan Africa is expected to be a major beneficiary. The SACU region, with its abundance of natural capital and surplus labor, along with a relatively high quality infrastructure and institutional environment, should be in a good position to attract investment and create a ‘factory Southern Africa’. Beyond assembly manufacturing that is typical of GVCs (e.g. apparel, electronics, automotive), the region should also be well-placed to compete as a location for value-addition to agricultural and mineral commodities (‘beneficiation’). Both types of investment would not only drive exports and have the potential to create significant employment, but also support upgrading by accessing global technologies and knowledge. And with growing markets across Africa, a ‘factory Southern Africa’ might increasingly be sustainable in the regional context.

Despite general economic decline and power supply deficiencies, infrastructure made a modest net contribution of less than half a percentage point to Zimbabwe's improved per capita growth performance in recent years. Raising the country's infrastructure endowment to that of the region's middle-income countries could boost annual growth by about 2.4 percentage points. Zimbabwe made significant progress in infrastructure in its early period as an independent state. The country managed to put in place a national electricity network and establish regional interconnection in the power sector; to build an extensive network of roads for countrywide accessibility and integration into the regional transport corridors; to lay the water and sewerage system; and to make progress on building dams and tapping the significant irrigation potential. Unfortunately, at present the cross-cutting issue across all these sectors is Zimbabwe's inability to maintain and rehabilitate the existing infrastructure since the country became immersed in economic and political turmoil in the late 1990s. Neglect of all sectors due to the crisis has resulted in a generalized lack of new investment (in the power and water sectors in particular), and the accumulation of a huge rehabilitation agenda. Quality of service has declined across the board. The power system has become unjustifiably costly, inefficient, and unreliable. The condition of roads has deteriorated to the point that Zimbabwe became a bottleneck on the North-South transport corridor. Rural connectivity hardly exists. Failure to treat potable water, along with the deterioration of the water, sanitation, and garbage disposal systems, was responsible for the spread of cholera in 2008. By 2010 cholera affected most areas of the country and posed a health threat to neighboring countries. Looking ahead, Zimbabwe faces a number of important infrastructure challenges. Zimbabwe's most pressing challenges lie in the power and water sectors. Inefficient and unreliable power supply poses major risks to the economy, while the maintenance and upgrading of existing power infrastructure no longer looks to be affordable. At the same time, overhauling the water and sewerage system is imperative for curbing the public health crisis.

China Railways Corporation (CRC) is considering new ways to attract capital to support the strategic development of the railway sector. Currently, government is the predominant equity financier, with debt being supplied by domestic bank credits and limited amounts borrowed from International Financial Institutions such as the World Bank and Asian Development Bank. Considering its high level of accumulated debt and liabilities (RMB 3.7 trillion on an asset base of 5.7 trillion), CRC wishes to explore equity investment mechanisms, to increase cash flow from its core and non-core activities, and to use different financing channels as a way to leverage the value of its assets and introduce market-based business models to the sector. CRC is seeking to attract investment from both the private sector and from public sources such as local governments and state owned enterprises. It refers to these sources of capital as ‘social capital.’ This report examines how companies in China and railways in seven other countries, China, France, India, Japan, Poland, Russia, United Kingdom, United States, have attracted capital and made capital budgeting decisions to support their strategic development.