Contents -- Foreword -- Acknowledgments -- Abbreviations -- Overview -- MDGs: Crisis Impact and Outlook -- 1 The Global Financial Crisis and Its Impact on Developing Countries -- 2 Improving the Private Investment Climate for Recovery and Growth -- 3 Leveraging the Private Sector Role in Human Development -- 4 Scaling Up Aid to Poor Countries -- 5 Pressing Ahead with Trade Openness -- 6 International Financial Institutions: Crisis Response and Support for the Private Sector -- References -- Annex: Monitoring the MDGs: Selected Indicators -- Boxes -- 1 Responding to a development emergency: priorities for action -- 1 New estimates of global poverty -- 1.1 The financial crisis -- 1.2 Increasing exchange rate volatility and the financial market crisis -- 1.3 Commodity exporters: how to deal with increased price volatility? -- 1.4 The quality of macroeconomic policies in low-income countries -- 1.5 The impact of the crisis on selected countries -- 1.6 Bailing out the world's poorest -- 1.7 The Financial Sector Assessment Program -- 1.8 Common regulatory and supervisory shortcomings identified in recent FSAP reports -- 2.1 Independent Evaluation Group reviews Doing Business -- 2.2 Business environment reforms matter -- 2.3 Adding a gender dimension to the measures of regulation -- 2.4 Relative impact of economic and financial development on MDGs -- 2.5 Microfinance: reaching out to the poor but with limits -- 2.6 Access to financial services: evidence from the subprime mortgage market -- 3.1 Examples of innovative approaches to expand access to health services via the nongovernment sector -- 3.2 Systemic involvement of the private sector in the public provision of education: vouchers in Chile -- 3.3 Contracting out education programs: Bangladesh and Côte d'Ivoire.

3.4 Public-private partnerships for specifi c education programs: Colombia and Pakistan -- 3.5 The growing role of the Bill and Melinda Gates Foundation in global health -- 3.6 Leveraging corporate finance for disease control -- 3.7 The Bangladesh Rural Advancement Committee: An emerging global NGO -- 3.8 The experience of the Global Education Alliance in Rwanda -- 4.1 The indirect impact of the crisis on aid flows -- 4.2 Contributions of private actors to development in Sub-Saharan Africa -- 4.3 Advanced market commitments: promoting private investments by leveraging public funds -- 4.4 The Adaptation Fund: country ownership in adaptation finance -- 4.5 Results from low-income country debt sustainability analyses -- 5.1 Trade policies: A taproot of the global food price crisis -- 6.1 Stolen Asset Recovery Initiative -- 6.2 World Bank Group's Vulnerability Framework -- 6.3 MDBs and trade finance -- 6.4 IFC response to the crisis -- 6.5 MIGA's contributions to supporting investment in developing countries -- 6.6 EBRD's micro- and small enterprise lending program -- 6.7 World Bank's Sustainable Infrastructure Action Plan and the Infrastructure Recovery and Assets Platform -- Figures -- 1 MDGs at the global level: serious shortfalls loom on human development goals -- 2 Fragile states have made the least progress toward the MDGs -- 3 Most countries are falling short of most MDGs -- 4 The decline in the number of people living in extreme poverty is largely attributable to East Asia, China in particular -- 1.1 World trade in goods and services -- 1.2 Commodity price indexes -- 1.3 Bond spreads and issues of international bonds in emerging markets and developing countries -- 1.4 Daily spot exchange rates, national currency per U.S dollar -- 1.5 Vulnerabilities in emerging and developing countries -- 1.6 Terms-of-trade changes per quintile group.

1.7 Real 2009 per capita growth rate adjusted for terms-of-trade changes -- 1.8 Official current transfers, 2008-09 -- 1.9 Current account balances, 2008-09 -- 1.10 Government balances, 2008-09 -- 2.1 Key constraints on firms vary by country income level -- 2.2 The ease of doing business varies widely -- 2.3 Most regions are improving their regulatory indicators over time -- 2.4 Regulatory reform is more common in some areas than in others -- 2.5 Access to finance varies by country income and size of firm -- 2.6 Many firms say lack of access to financing hampers their growth -- 2.7 Financial and economic development does not guarantee access to finance -- 2.8 Most financial systems are small -- 2.9 Availability of credit information varies greatly -- 2.10 Exponential growth of telecommunications services in all regions -- 2.11 Inadequate infrastructure constrains business -- 2.12 The business cost of inadequate infrastructure can be high -- 2.13 First priority corridors in West Africa: Checkpoints, bribes, and delays -- 2.14 The rise and fall of private investment in infrastructure -- 3.1 Private and out-of-pocket shares of health expenditure -- 3.2 Use of private maternal and child health care services, Sub-Saharan Africa and South Asia -- 3.3 Public and private providers of TB services in 22 high-burden countries -- 3.4 Trends in the use of private providers in Sub-Saharan Africa and South Asia -- 3.5 Probability of using private health care providers by whole population and the lowest two asset quintiles in Sub-Saharan Africa and South Asia -- 3.6 Private spending on education -- 3.7 Private enrollment share by region, 2006 -- 3.8 Private enrollment share by national income, 2006 -- 4.1 DAC members' net ODA 1990-2008 -- 4.2 Increase in donor financing for infrastructure in Sub-Saharan Africa.

4.3 Gap between forward aid plans and required increases -- 4.4 Financial crisis and aid response -- 4.5 Ratios of public debt and ODA to gross national income for 22 DAC donors, 1980-2007 -- 4.6 Dependence on aid remains high in low-income countries -- 4.7 Quality of PFM systems affects donors' use of those systems -- 4.8 Private grants data: undercounting philanthropy -- 4.9 Trends in U.S. foundations' assets and giving -- 4.10 Average debt service and poverty-reducing expenditures -- 4.11 The DeMPA tool: assessing core functions of public debt management -- 5.1 Robust trade growth turned negative in most regions by late 2008 -- 5.2 World trade will contract in 2009 -- 5.3 Baltic Exchange Dry Index -- 5.4 New insurance commitments (medium- and long-term) reported by Berne Union members on selected countries -- 5.5 Cost of trade finance in selected emerging markets -- 5.6 Growth of antidumping cases -- 5.7 OTRI and TTRI by income group, 2007 -- 5.8 OTRI and TTRI by region, 2007 -- 5.9 OTRI of the four largest traders, 2007 -- 5.10 Change of OTRI by income group and region, 2002-07 -- 5.11 MA-OTRI by region, 2007 -- 5.12 Change in MA-OTRI by region, 2002-07 -- 5.13 Restrictiveness of services trade policies by region, 2008 -- 5.14 Restrictiveness of services trade policies by region and sector, 2008 -- 5.15 Aid-for-trade commitments: annual averages for 2002-05, and totals for 2006 and 2007 -- 5.16 Commitments of aid for trade by region, income group, and category, average 2002-07 -- 6.1 MDB gross disbursements, 2000-08 -- 6.2 MDB gross disbursements to nonsovereign borrowers, by region, 2000-08 -- 6.3 Financial Sector Assessment Program country coverage -- 6.4 Effectiveness and future importance of donor institutions -- Tables -- 1.1 Summary of world output -- 1.2 Net capital flows -- 1.3 Inflows of international remittances.

1.4 Measures implemented during financial turmoil, by country -- 1.5 Short-term poverty outlook -- 1.6 Longer-term poverty outlook -- 2.1 Weak implementation and enforcement can increase the regulatory burden -- 2.2 Access to infrastructure is improving but still lags seriously in some regions -- 2.3 Africa's infrastructure deficit is widening compared with other regions -- 2.4 Water and electricity services are often underpriced -- 2.5 Closing the infrastructure financing gap in Sub-Saharan Africa -- 2.6 Overview of experience with private participation in infrastructure in Sub-Saharan Africa -- 3.1 Matrix of financing and delivery arrangements in health and education -- 3.2 Matrix of government capacities needed to manage various finance and delivery models -- 3.3 Private enrollment shares in education, selected countries, 1990 and 2006 -- 4.1 Current dedicated resources for climate change in developing countries -- 5.1 Trade distorting actions taken in selected countries -- 5.2 Measures of domestic trade costs (averages by country group) -- 5.3 Effects of convergence by low-income countries to middle-income average -- 5.4 Aid-for-trade commitments: annual averages 2002-05 and totals for 2006 and 2007 -- 6.1 Selected elements of IFI support to the private sector -- 6.2 Examples of IFI crisis response programs in 2008 -- 6.3 Paris Declaration survey results, 2008.