This FY24 Annual Review Report marks the penultimate document under the second phase of the five-year Office Support Agreement (OSA 2.0) between the Malaysian Government and the World Bank Group. The report highlights the progress and outcomes achieved by the World Bank Group (WBG) Inclusive Growth and Sustainable Finance Hub (the Hub) for the financial year (FY) July 2023 to June 2024, or FY24. This period in Malaysia has been particularly eventful, with a series of strategic flagship documents launched such as the MADANI Economy Framework, the National Energy Transition Roadmap (NETR), the New Industrial Master Plan (NIMP) and the 12th Malaysia Plan (12MP) Mid-Term Review, which will steer the country and people toward a more prosperous, inclusive, progressive and sustainable development pathway. The “Net Zero by 2050” aspiration announced by the Malaysian Prime Minister during the launch of the 12MP in 2021 lays the foundation and development ethos to guide all economic, social, and environmental principles, policies, planning, and implementation. Thus, the work program for the World Bank Group Malaysia office has (and will largely be) influenced by these strategic blueprints for this financial year and moving forward. The second half of the financial year was an intense period of work delivery due to several global and national level activities, conferences, workshops, and report launches. Additionally, as it is the penultimate year for OSA 2.0, the Bank Group and the Malaysian Government have commenced engagements to lay out the strategic priority areas for the next phase between 2025 to 2030.
Authors
Tan,Mei Ling, Abrigo,Vincent M., Samantha Pheh Pek Nee, Rusman,Arifurrahman Bin
- Disclosure Date
- 2024/06/11
- Disclosure Status
- Disclosed
- Doc Name
- World Bank Inclusive Growth and Sustainable Finance Hub in Malaysia - Annual Report Financial Year 2024 : July 2023-June 2024
- Published in
- United States of America
- Unit Owning
- EACMA - WB Office: Kuala Lumpur (EACMA)
- Version Type
- Final
- Volume No
- 1
Table of Contents
- Cover 1
- Table of Contents 5
- Abbreviations 6
- Executive Summary 8
- Year in Review 9
- Thematic Area 1: Supporting Inclusive Growth 31
- Sub-Theme 1: Growth and Inclusion 32
- Sub-Theme 2: Private Sector Competitiveness 44
- Sub-Theme 3: Human Capital Development 54
- Thematic Area 2: Promoting Sustainable and Islamic Finance 65
- Sub-Theme 1: Sustainable Finance for Climate Action 66
- Sub-Theme 2: Fostering Financial Stability and Inclusion for Growth 76
- Sub-Theme 3: Islamic Finance for Sustainable Development 84
- Thematic Area 3: Strengthening Governance 91
- East Asia and Pacific Chief Economist (EAPCE) Research Center 107
- Trust Funds and Reimbursable Advisory Services 115
- Toward a Low Carbon Economy: HFC Phasedown in Malaysia 116
- Supporting Malaysia’s Climate Change Efforts Through Carbon Pricing 0
- Supporting Malaysia in Moving Toward Plastics Circularity 121
- Digital Transformation Pathways for Modernizing Malaysia’s Agrofood System 0
- Societal Aging in Malaysia - Navigating Rapid Demographic Shifts 126
- Appendices 129
- Appendix 1: Results Framework 130
- Appendix 2: List of Products and Work Delivered 132
- Appendix 3: WB Hub Staffing FY24 157
