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Results for Mathieu Vervynckt

blog
PPPs lead to dangerous debts for developing countries — it’s time for the World Bank to act

Maria Romero, Mathieu Vervynckt

01 Mar 2017 16:26:56

This blog was originally published on Devex. For many years, public-private partnerships have been promoted by governments and financial institutions as a way to pay for development projects such as roads, schools and hospitals. The World Bank is at the forefront of this push and advises governments on how to structure their PPPs. But it also ignores civil society campaigners’ concerns about the dangerous hidden debts that PPP projects can lead to. The European Network on Debt and Development, and more than 75 nongovernmental organizations and trade unions from all over the world, will not participate in the World Bank’s public consultations on PPPs until this dangerous problem is tackled. What are PPPs? PPPs are agreements in which the private sector essentially replaces governments ...

press
Trade Unions and campaigners around the world accuse the World Bank of encouraging dangerous hidden debts, boycott consultation on Public Private Partnerships (PPPs)

• The boycott was launched after the World Bank ignored repeated calls for the Bank to stop promoting PPPs that contain dangerous hidden debts. • Most governments leave these costs out of the accounting books, which can lead to crippling hidden debt – especially damaging for world’s poorest countries. • See ‘Notes to Editors’ for examples of disastrous PPPs. 27 February 2017 Trade unions and campaigners from around the world are boycotting the latest World Bank consultation on PPPs, ...
This year’s Annual Meetings of the IMF and World Bank took place against the backdrop of continued sluggish growth in developed and developing countries alike. The impact of the commodity price crash weighs heavily on many developing countries and has ...

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How far have we come on responsible finance standards?

Mathieu Vervynckt

22 Sep 2016 11:55:40

It’s been two years since Eurodad reported that for every $100 a developing country makes, $10 are lost, flowing out of the country. Although we’d been saying for many years that more money flows out of developing countries than goes in, I remember that the scale of it even came as a surprise to us.  But the reality is that developing countries continue to suffer from profits taken out by foreign investors, lending by developing countries to rich countries and particularly from illicit financial flows (IFFs). Last year’s “Mbeki report”, which had been commissioned by the African Union and the United Nations Economic Commission for Africa, estimated that Africa is losing more than $50 billion annually in IFFs. And, the report argued, “these estimates may well fall short of reality ...
Eurodad has produced two briefings, one on Development Finance Institutions (DFIs) and public country by country reporting (CBCR), the other on DFIs and public disclosure of beneficial ownership (BO). The briefings put forward general recommendations ...

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Assessing the performance of Development Finance Institutions

Mathieu Vervynckt

01 Jul 2015 10:57:27

Delivering development results is the mandated raison d’être of Development Finance Institutions (DFIs). Without these results, DFIs have no reason to exist as they might as well be replicating the work of commercial institutions. As a result, it won’t surprise anyone that DFIs are facing constant pressure by governments, tax payers, civil society organisations and the communities where they work to demonstrate their achievements in reducing poverty and inequality. But this has proven to be easier said than done.  Monitoring and evaluation Effective monitoring and evaluation (M&E) systems incorporated into DFI projects allow them to identify what changes – especially benefits – have been achieved either directly or indirectly through their activities and investments, and to ...

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Financing for development or for private interests?

Mathieu Vervynckt

13 May 2015 10:32:54

This blog was first published in Dutch on Vice Versa Magazine How can investments in and for the private sector contribute to development cooperation? This is more or less the key question on the agenda during the current Financing for Development (FfD) negotiations in New York. According to the European Union (EU), the answer lies with the risky use of public resources as a catalyst for private investment. However, this outsourcing of development cooperation to the private sector is accompanied by a serious lack of evidence about the real development impact, transparency, accountability and developing country ownership.   In a way, you have to give the EU credit. By means of a well thought-through communication strategy, the EU has managed to place private finance at the heart of the ...

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European Parliament must tackle serious concerns following flawed workshop on private sector in development

Mathieu Vervynckt

13 Mar 2015 11:54:28

On 5 March, I attended a workshop organised by the European Parliament (EP) Committee on Development. It was part of the preparation process for a forthcoming report on the role of the private sector in fostering sustainable development that will be published ahead of the pivotal Financing for Development conference in Addis Ababa. Chaired by the report’s rapporteur, MEP Nirj Deva, and attended by Eurodad and many other civil society organisations (CSOs), the workshop had the potential to offer an opportunity for discussion about the benefits and challenges of engaging the private sector in development cooperation. However, in practice it turned out to be an opinionated discussion that looked mostly at the rewards of private finance, but turned a blind eye towards its problems. The workshop ...

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EU blending: lessons learnt, or just lip service?

Mathieu Vervynckt

17 Dec 2014 10:36:10

On 12 December, the European Council released its Conclusions on a stronger role of the private sector in development cooperation. Unsurprisingly, there is a heavy focus on the use of financing instruments and mechanisms that use public resources and institutions to ‘leverage’ additional private lending and investment, particularly on ‘blending’ as a tool of development cooperation. (Blending is the use of aid money to subsidise or support public or private sector projects.) However, the Council claims that efforts will be made to improve the development impact of blending operations “on the basis of lessons learnt”. But what will this mean in practice?  Since 2007, the European Commission (EC) has set up eight regional blending facilities to link European aid grants with loans ...

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Financing for whose development? DFIs and their support for companies that use tax havens

Mathieu Vervynckt

04 Nov 2014 11:58:53

This blog first appeared on From Poverty to Power. The Third UN Conference on Financing for Development (FfD), set to take place in Addis Ababa next year, will be a crucial opportunity to discuss two of the hottest topics in development finance today: the use of scarce public resources to leverage the private sector, and the fight against international tax avoidance and evasion. Both topics come together in Eurodad’s new report, Going Offshore, though probably not in the way you might expect.  Previous Eurodad research has shown that despite the lack of public information about how they work and their impact on development, Development Finance Institutions (DFIs) – government-controlled institutions that support private sector projects in developing countries – have come to ...