Background note Ensuring adequate access to sustainable development finance was already a fundamental challenge prior to the pandemic and will
In a context of existential transnational challenges and growing inter-state rivalries, we need well-financed, universal multilateralism that can set global rules and norms, drive forward action, and sidestep the tendency for money and military might to buy global influence. The WHO Executive Board now has an opportunity not only to reinvigorate its own organisation, but also to advance a discussion on how the entire UN system can be placed on a stronger, more financially sustainable footing. Passing up this moment out of fear of the implications for member state fiscal obligations to the wider UN system would be both unfortunate and short-sighted.
Elcano and ETTG have published the report on the rise of public development banks in the European financial architecture for development which shows how PDBs are critical in promoting resilience to shocks (financial, economic, pandemic, climate, etc.), stabilise the economy and foster a more rapid long-lasting recovery. The report also stresses the importance of medium- and long-term finance for development that can help building markets and promoting economic transformation in a sustainable, green, inclusive and gender-sensitive manner.
In spite of all the anger and frustration that was palpable especially during the final iterations of the Glasgow cover decision, it would be too bleak to consider COP26 as a mere waste of time and effort. Much rather, the Glasgow package delivered a hefty lump for all Parties to chew on. As of now, it remains hard to tell how palatable individual Parties will find their haggis once they take it to their domestic tables. But if they now act even upon the half-hearted words of the Glasgow Climate Pact, the implementation of the Paris Agreement could finally gain traction. Ultimately, the proof of the haggis will be in the eating.
The covid-19 pandemic has generated severe health, economic and debt crises for the least developed countries (LDCs). On the one hand, they cannot mobilise sufficient financial resources on their own to cope with the effects of the pandemic because their public revenues are too low and external finance is not always available. On the other hand, many LDCs have been highly indebted, even prior to the crisis.
A recent IAI study has argued that several shortcomings in the climate and development finance systems undermine the capacity of countries in the Global South to tackle climate change¹. Insufficient resources, lack of focus on adaptation, inadequate management of climate risks, the vicious circle between indebtedness and climate vulnerability are some of the major obstacles.
Date10 Jun 2021 Time (GMT +01)14:00 15:00 Speakers – Ashok Malik Panellist – Policy Advisor, Ministry of External Affairs, Government of
This week the Organisation for Economic Co-operation and Development (OECD) has published the preliminary data for 2020 on Official Development Assistance (ODA).
On the 19th of March the DG International Partnerships (INTPA) in cooperation with a group of selected topic specialist researchers
The unprecedented scale of the crisis generated by the COVID-19 pandemic calls for greater empowerment of international, European and regional financial institutions for development, development finance institutions (DFIs) and public development banks. They all need to step up their efforts, to ‘build back better’, in a greener, more inclusive and gender-sensitive manner. This paper suggests ways to do that, adjusting the current business model of financial institutions for development to align and coordinate European investments for development.