The Middle East and North Africa (MENA) region faces unique challenges and opportunities in integrating sustainability into sovereign credit assessments. This research study examines environmental, social, and governance (ESG) factors embedded in the lending policies of jurisdictional institutions in MENA. By analyzing existing literature and case studies, we identify key drivers and barriers to ESG integration in sovereign lending. Our findings suggest a growing recognition of sustainability’s importance in financial stability and credit, driven by global climate guarantees and local socio-economic development. However, challenges such as data availability, regulatory frameworks, and market acceptance persist. This paper provides an overview of current practices, highlights best practices, and offers recommendations to enhance ESG integration in sovereign debt reviews in the MENA region. The study concludes that a robust ESG framework is necessary to accurately reflect the long-term risks and opportunities associated with sovereign debt, ultimately contributing to sustainable economic growth regionally.

Although public-private partnership (PPP) is regarded as one of the key effective tools in the development of many countries, various challenges surrounding PPPs are not well understood. This paper explores nine key challenges in PPP implementation: (1) different organizational cultures and goals between the partners, (2) poor institutional environment and support, (3) weak political and legal frameworks, (4) unreliable mechanisms for sharing risk and responsibility, (5) inadequate procedures for the selection of PPP partners, (6) inconsistency between resource inputs and quality, (7) inadequate monitoring and evaluation of PPP processes, (8) lack of transparency, and (9) the inherent nature of PPPs. This paper aims to provide the perceptions in the existing literature on many of these challenges, as well as provide solutions to each challenge. 

This research investigates the impact of digital academic supervision (DAS) on teacher professionalism (TP), with a focus on the mediating role of personal learning networks (PLNs) and their implication for educational policy. Using Partial Least Squares Structural Equation Modeling (PLS-SEM), data were collected from 276 teachers in prestigious secondary schools in East Java, Indonesia. The study uses a regression model design to explore direct and mediated effects between DAS, PLNs, and TP. Findings demonstrate that DAS directly impacts both PLNs (0.638) and TP (0.550), while PLNs also directly influence TP (0.293). Mediated analysis indicates that DAS enhances TP through PLNs (0.187). These results underscore the importance of digital tools in academic supervision, fostering collaboration, and promoting teacher professional development. The empirical evidence supports the effectiveness of DAS in enhancing teacher professionalism, suggesting significant implications for educational policy and practice in Indonesia in terms of regulatory framework, such as data privacy and security, standardization, training programs, and certification and accreditation.

While there has been much discussion about the large infrastructure needs in Asia and the Pacific, less attention has been paid to public expenditure efficiency in infrastructure services delivery. New constructions are not the only solution, especially when governments have limited capital to invest. Globally, new infrastructure projects face delays and cost overruns, leading to an inefficient use of public resources. The root causes include the lack of transparency in project selection, the lack of project preparation, the silo approach by public entities in assessing feasibility studies, and the lack of public sector capacity to fully develop a bankable pipeline of projects. To tackle these issues, governments need a smarter investment approach and to do so, enhancing public service efficiency is very crucial. The paper suggests a “whole life cycle” (WLC) approach as the main strategic solution for the discussed issues and challenges. We expand the definition of WLC to include the entire life cycle of the infrastructure asset from need identification to its disposal. The stages comprise planning, preparation, procurement, design, construction, operation and maintenance, and disposal. This is because we believe any efficient or inefficient decision throughout such a wide life cycle influences the quality of public services. Hence, in this holistic approach, infrastructure life cycle consists of four phases: planning, preparation, procurement, and implementation. Governments could enhance public efficiency and thus improve access to finance throughout the WLC by several solutions. These are (i) preparing infrastructure master plan and pipelines and long-term budgeting during the planning phase; (ii) establishing framework and guidelines and improving governance during preparation phase; (iii) promoting standardization, transparency, open government, and contractual consistency during the procurement phase; and finally (iv) continued role of government and total asset management during the implementation phase. In addition to these phase-specific means, key WLC solutions include proper use of technology, capacity building, and private participation in general and public-private partnership (PPP) in particular.

This study critically examines the implications of international transport corridor projects for Central Asian countries, focusing on the Western-backed Transport Corridor Europe-Caucasus-Asia (TRACECA), the Chinese initiative “One Belt—One Road”, and the International North-South Transport Corridor (INSTC) supported by the Russian Federation, India, and Iran. The analysis underscores the risks associated with Western projects, highlighting a need for a more explicit commitment to substantial infrastructure investments and persistent contradictions among key investors and beneficiaries. While the Chinese initiative presents significant benefits such as transit participation, infrastructure development, and economic investments, it also carries risks, notably an increased debt burden and potential monopolization by Chinese corporations. The study emphasizes that Central Asian countries, though indirect beneficiaries of INSTC, may not be directly involved due to geographical constraints. Study findings advocate for Central Asian nations to balance foreign investments, promote economic integration, and safeguard political and economic sovereignty. The study underscores the region’s wealth of natural and human resources, emphasizing the potential for increased demand for goods and services with improved living standards, strategically positioning these countries in the evolving global economic landscape.