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On 4-6 November 2019, the UNCTAD Intergovernmental Group of Experts on Financing for Development met in Geneva to continue discussions on the issues, concerns and challenges raised in the Addis Ababa Action Agenda. In advance of the meeting, Eurodad made ...

blog
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 ...

blog
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 ...

blog
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 ...

blog
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 ...

blog
2018 development aid figures. Why aid reporting rules matter for more effective development

Jan Van de Poel

19 Apr 2019 11:41:09

Last week the Development Assistance Committee (DAC) of the Organisation for Economic Co-operation and Development (OECD) released their preliminary figures on the amount of official development assistance (ODA), or development aid, raised in 2018. Following the OECD’s publication, Eurodad released an initial reaction. Nothing new under the sun?In 2018, ODA headline figures took a dive by 2.8 per cent compared to 2017, bringing the development effort of all OECD member states to a meagre 0.31 per cent of gross national income, far below the 0.7 per cent commitment made nearly half a century ago. The inclusion of costs not immediately linked to development needs of recipient countries continue to inflate aid figures and undermine the credibility of the reporting exercise of a scarce but crucial ...

press
European court rules that Belgium’s ‘sweetheart’ tax scheme is not state aid - exposes cracks in broken tax system

Brussels, 14 February 2019 - Today, the European Court of Justice ruled against the European Commission, which had alleged that the Belgian tax scheme, known as the ‘excess profit scheme,’ provided illegal state aid worth around €700 million to multinational corporations.The Belgian tax scheme allowed selected multinational corporations to discount large parts of their profits when paying corporate tax in Belgium. It has existed since 2005, and came into the spotlight in 2015, when the ...
The European Network on Debt and Development (Eurodad) is delighted to announce the appointment of its new Director, Jean Letitia Saldanha.  Jean takes over from interim Director Antonia Vorner at the end of April. She joins Eurodad from CIDSE, the ...

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Eight reasons why public country by country reporting is good for business in Europe

Jasper De Meyer

20 Apr 2017 10:58:31

It’s not just tax transparency campaigners and citizens who want public country by country reporting (CBCR). Businesses and investors are increasingly in favour too. Here’s why:  1. To level the playing field between SMEs and large multinationals. SMEs frequently only operate in one country and are not able to engage in profit-shifting between tax jurisdictions to reduce their taxes, and as a consequence face a higher tax bill compared to their competitor multinationals. According to the European Commission’s impact assessment, cross-border companies in the EU are estimated to pay on average 30 per cent less tax than similar firms active in only one country. Public CBCR would help to level the playing field between MNCs and SMEs, and in turn enhance SMEs’ capacity to support growth ...

blog
One year after the Panama Papers, the EU’s drive for increased financial transparency risks falling short

Jasper De Meyer

06 Apr 2017 14:41:31

On the morning of 4 April 2016, exactly one year ago, citizens around the world woke up to yet another shocking tax scandal. The leaking of 11.5 million confidential documents from Mossack Fonseca showed how the Panamanian law firm helped its clients through the use of offshore anonymous company and trust structures to launder money, dodge sanctions and evade taxation. In the weeks which followed, the Panama Papers put the issue of anonymous company ownership high on the international agenda. The European Commissioner responsible for taxation, Pierre Moscovici, said that the use of offshore companies in order to hide financial assets from tax authorities was “immoral, unethical and, in one word, unacceptable”. He said that the EU had “a duty” to act and put an end to the kind of tax ...