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A Global Green New Deal – new UNCTAD report outlines a financing plan

Bodo Ellmers, Maria Romero

10 Oct 2019 11:21:59

The debate about a Green New Deal has recently been reinvigorated in both sides of the Atlantic. In Europe, the Green New Deal is part of the priorities of the European Commission’s President-elect Ursula von der Leyen. And at the UN in New York last month, sustainable development was featured in a series of global Summits, including the Climate Action Summit. In response, UNCTAD used the momentum to  launch the 2019 edition of the Trade and Development Report (TDR) which analyses the new deal from a financing perspective, identifies constraints and outlines innovative financing options.  Urgent need for more and better development finance  The new report comes at a time when neither the implementation of the 2030 Development Agenda nor the Paris Climate Agreement is on track. ...

Will the new Commissioner for International Partnerships adopt a more cautious approach towards blended finance?

Jan Van de Poel, Nerea Craviotto

08 Oct 2019 15:24:10

Earlier this week, Members of the European Parliament had the opportunity to hear the Commissioner-designate for ‘International Partnerships’, a crucial step before she can be formally appointed by the Council later this month. In her statement to MEPs, former Finnish finance minister Jutta Urpilainen committed to focus on meeting the SDGs, reducing inequalities and eradicating poverty. To achieve these ambitious objectives, Urpilainen stressed the need to put a stronger focus on ‘leveraging private capital’ as ‘traditional measures of aid delivery are not enough’. The EU has been using various instruments to crowd in private finance in its development efforts for a number of years now even though there is no established evidence of their positive development impact. The ...

A new European Commission: What are the implications for Development Finance in the next five years?

Following the European elections in May, former German defence minister Ursula von der Leyen has assumed the role of President-elect of the European Commission. In July, von der Leyen, the first woman to take this post, released a concept paper titled “A Union that strives for more” and on Tuesday this week she unveiled the names of the new Commissioners.  And with these releases, the policy agenda of the next European Commission, mandated to govern until 2024, is slowly taking shape. In response, we ask what are the implications for development finance?    Sustainable financing for sustainable development?  Sustainable development rhetoric scores highly on von der Leyen’s policy agenda, but the devil lies in the detail. The concept paper outlines “a strategy for ...

UN Independent Expert links International Financial Institutions’ austerity push to Human Rights impacts

Gino Brunswijck

12 Sep 2019 13:00:36

This week, the UN Independent Expert on Foreign Debt and Human Rights, Juan Pablo Bohoslavsky, released a report on the role of International Financial Institutions (IFIs) in imposing economic reforms that violate human rights. In particular, the report highlights how widespread promotion of austerity measures has had an adverse effect on human rights impacts in a number of countries. The document is due to be presented to the UN General Assembly in October, In line with Eurodad findings, the Independent Expert questions the basic assumptions used to justify the introduction of austerity measures. Rather than contributing to economic growth, they tend to aggravate economic recession, worsening debt ratios and inequality. The IFIs widely prescribe such policies through lending and attached conditionalities, ...

Building political momentum will be crucial for the way forward — Global Partnership on Effective Development Cooperation Senior Level Meeting

Nerea Craviotto

22 Jul 2019 18:53:27

In this short blog, Eurodad looks back at the past senior level meeting (SLM) of the Global Partnership for Effective Development Cooperation (GPEDC), a multi-stakeholder platform established to make sure all development actors deliver on their commitments to ensure development cooperation is really eradicating poverty and bringing about sustainable development. The 1st SLM of the GPEDC was a good opportunity to discuss progress (or lack thereof), best practices and informing participants about the way forward. Yet, in order to achieve real progress in meeting Development Effectiveness Principles, building political momentum, which may be waning, will be crucial in the months to come. By Nerea Craviotto Ortega and Jan Van de Poel Last weekend – 13-14 July – the Global Partnership for Effective ...

Business, business and business - is this the new mantra for EU development cooperation?

Maria Romero

22 Jul 2019 10:19:18

By María José Romero and Isabelle Brachet (ActionAid International) As the promised leveraging effects of blended finance fail to materialise, the European Union is increasingly focussing on the policy environment in partner countries, based on an assumption that the problem must lie there.  This approach is present in the design of the External Investment Plan, an initiative that allocates aid money to encourage businesses to invest in Africa as well as the EU’s neighbouring countries. The plan, based on three interconnected pillars — finance, technical assistance and policy dialogue — is expected to continue as part of the implementation of the next EU budget (2021-2027), which is currently under negotiation. However, the recently released “Handbook on improving investment ...

Global Partnership on Effective Development Cooperation: Will this weekend’s Senior Level Meeting turn the tide on effective development?

Jan Van de Poel, Nerea Craviotto

11 Jul 2019 19:38:05

In this blog, Eurodad offers its take on the upcoming senior level meeting (SLM) of the Global Partnership for Effective Development Cooperation (GPEDC), a multi-stakeholder platform established to make sure all development actors deliver on their commitments to ensure development cooperation is really eradicating poverty and bringing about sustainable development. In light of donors’ stalled progress to deliver on key development effectiveness principles, the SLM is an opportunity to crank up the political momentum needed to deliver the development effectiveness agenda and the SDGs. This would require donors to change track and put developing countries in the driving seat of development cooperation.  This weekend - 13-14 July - the UN Headquarters in New York will host the first Senior ...

Les ONGs veulent des engagements clairs sur le volet développement des prochaines négociations budgétaires européennes

Cecilia Gondard

28 Jun 2019 14:01:45

Le prochain budget de l'UE (2021-2027) est en cours de négociation. En avril, le Parlement européen a confirmé sa position sur Instrument de voisinage (NDICI), de coopération au développement et de coopération internationale, qui déterminera la coopération au développement de l'UE sur cette période. La position du Parlement européen contient des dispositions cruciales pour garantir que l'instrument soit à la hauteur pour  remplir sa mission d’éradication de la pauvreté, de réduction des inégalités et de soutien du développement durable.  La semaine dernière, Eurodad et Concord ont envoyé une lettre au Conseil de l’UE et à ses États membres les exhortant à suivre la direction du Parlement dans leurs négociations sur l'instrument NDICI. La lettre s'appuie ...

CSOs call for a clear development commitment in the next EU budget negotiations

Cecilia Gondard

27 Jun 2019 15:55:06

The next EU budget (2021-2027) is under negotiation. In April the European Parliament confirmed its stand on the Neighbourhood, Development and International Cooperation Instrument (NDICI), which will determine EU development cooperation during this period. The Parliament’s position includes crucial provisions to ensure that the instrument is up to the task of eradicating poverty, reducing inequalities and supporting sustainable development. Last week Eurodad and Concord sent a letter to the European Council and its Member States urging them to follow the Parliament’s direction in their negotiations of the NDICI instrument. The letter builds on a 10-point position paper that Eurodad and Concord developed last year on the European Fund for Sustainable Development plus (EFSD+), ...

G20 – a chance for solutions, or a part of the problem?

As G20 leaders meet this weekend to debate the state of the global financial and economic system, there is no shortage of problems to discuss. For example, the world is facing a new wave of debt crises; continued large-scale corporate tax avoidance; and a desperate lack of funding for achieving the sustainable development goals, including for ensuring basic infrastructure for public services and combating climate change. The failure of the global system is also exacerbating existing inequalities, including gender inequality.  But the G20 is by no means a young and new initiative and while assessing the challenges ahead, it is also important to look back and discuss whether the global problems we are facing have arisen in spite of the G20 leadership, or – at least to some extent – because ...