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Much Hope for Jordan and the Region – Young People Are the Bright Lights

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The World Economic Forum on the Middle East and North Africa concluded today with strong expressions of hope for Jordan and the region, as well as recognition that investing in educating young people is critical.

Mirek Dusek, Head of Regional Strategies, Middle East and North Africa, and a Member of the Executive Committee at the World Economic Forum, pointed to the “amazing potential of young people and young companies” across the region who have had such a strong presence during the meeting. “We have seen pockets of excellence, but we feel a new economic model is emerging of entrepreneurship.”

Dusek noted that many of these young start-ups have succeeded despite their environment. “How can we help them to be more sustainable and put them at the core of what this region is about?” he asked.

The Forum has been working for many years facilitating dialogue on the crises facing the region to ensure the right stakeholders are sitting down to address fragility and humanitarian catastrophes and deal with the political picture, Dusek added. Leaders from different faiths also discussed the future of Iraq after the liberation of Mosul from Daesh, as well as the role of clerics in society.

Ghassan Hasbani, Deputy Prime Minister of Lebanon, said he took away ideas about how to continue creating hope for the young people in the region. “We need to show them examples of success and that we are taking the right action to create the right environment for them to stay in the region … and succeed,” he said. “The region is in turmoil and facing political, economic and social challenges,” he added, but young people are a bright light shining. “We want to give them hope by taking proactive action on the legislative and regulatory side, but also on the encouragement and support side, he said. Hasbani praised the Forum’s Global Shapers community, a network of Hubs developed and led by young people with exceptional potential who want to make a contribution to their communities, and the more than 100 Arab start-ups represented at the meeting.

“We need to keep focusing on entrepreneurship at all levels,” he added. “We need to move forward with supporting entrepreneurship and encourage bigger enterprises to be more socially responsible.”

Start-ups face many challenges in the region, but Ambareen Musa, Chief Executive Officer of Souqalmal, United Arab Emirates, said they struggle with two main areas: talent and regulations. “It is extremely hard to find local talent. We need a real investment in education. It is about educating from a young age about entrepreneurship,” she said. “There are new careers coming on board. Education is key to creating sustainable environment now and for the next generation of start-ups.”

The next challenge is regulations. Investors want to know how big the regional market is, Musa added. “There have been a lot of changes, but I would like to see them faster. The dream is one currency, one region and no borders from a talent and regulatory perspective. That will make the expansion of the region for us much, much easier. It will also attract foreign direct investment.” She pointed out that the region has been built on entrepreneurship. Musa noted that the meeting’s common theme was “reform” and a mindset that it is time to move forward and create a sustainable environment.

Sana Hawasly, Chief Executive of Daraty, Syria, works with children in the education sector. “We want education to empower young people to create a lifelong learning opportunity with no restrictions around their educational experience,” she said. “The best way to create this content is make kids feel free to express themselves and do the work they like to do.” Daraty started with electronics to prepare them to build technology. In 2020 and beyond, people will require technical skills. “We are giving them the tools for the next marketplace that will replace what we are facing now,” Hawasly added. “We were amazed at how kids were enthusiastic to do this.”

Hawasly’s main takeaway from the meeting is the enthusiasm venture capitalists and investors expressed and their interest in the Syrian people. “We should bridge the gap between how much technology is going into Syria and the excitement of investors. We have a powerful workforce in Syria and are strong in technology. We have a great lack of opportunity. I will go back with a great hope that the world is waiting for talent from Syria. We have to track the opportunities and do the hard work to get there.”

Khadija Idrissi Janati, Founder and Chief Executive Officer of KMK Groupe, Morocco, and a Co-Chair of the World Economic Forum on the Middle East and North Africa, told participants that digital transformation is here and we need to adapt. But with increasing use of digital, society needs checks and balances. Children need to be exposed to digital technologies and the internet, but there must be trust and the engagement of parents.

“Trust is one of the challenges of the use of society media,” she said. Responsibility is critical. It is also critical to verify the veracity of the information on social media. Idrissi Janati pointed out that Facebook just hired 3,000 people to verify information. “We are aware of the benefits [of digital media], but we also must be aware of the risks,” she said.

Seyed Salih Al-Hakim, Director of the Hikmeh Center for Dialogue and Cooperation in Iraq, pointed to the need to keep religion out of politics and the role of clerics in fostering values. “Today, people have recognized that religion cannot be pushed into politics. It has its own place and cannot be part of the political bazaar,” he said. Although religion is an integral part of people’s lives, “People want to have a civil state. We do not want a religious government; we want a civilian government that respects religion … we have tried political Islam and it was not helpful. In history, when the sacred came into politics, it ruined our politics.”

In post-conflict Iraq, there will be a need to create “a country of citizenship” as there is a need for true reconciliation. A dialogue among a group of clerics called for a review of religious and education institutions, as well as of religious curricula. It is time to pay more attention to youth and the role of women in the region. Al-Hakim called on entrepreneurs starting out to pay attention to values in addition to setting objectives and goals.

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Knowledge Exchange Program between World Bank and Parliamentarians of Nepal

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photo: World Bank

Members of the Federal Parliament in Nepal and officials from the World Bank held consultations and development policy dialogue at a knowledge exchange program held today. Over 40 members of the Parliamentary Finance Committee and the Parliamentary Secretariat took part in the program.

“These engagements with the representatives of the people of Nepal are a key part of our role and responsibility as trusted partners in Nepal. They allow us to exchange ideas, and to better understand the vision of the Nepali people in reducing extreme poverty and boosting shared prosperity. It also allows us to share experiences on development narratives from the rest of the world.” said Qimiao Fan, World Bank Country Director for Bangladesh, Bhutan and Nepal, “The country’s path of nation-building and sustainable development relies on sound policies and institutions, and the Parliament is key in ensuring that these are both in place.”

During the program supported by the World Bank and facilitated by the Parliament Secretariat, the Country Manager Faris H. Hadad-Zervos introduced the World Bank Group operations in Nepal, its instruments, country partnership framework and areas of development support. This was followed by a synopsis of the Bank’s analysis of latest macroeconomic and development updates, presented by World Bank Senior Country Economist Kene Ezemenari. Xiaoping Wang and Rabin Shrestha, Senior Energy Specialists from the World Bank then presented on the current scenario of the power sector in Nepal.

“The program was a great opportunity to understand the World Bank Group operations and explore avenues of cooperation and support in the days to come,” said Krishna Prasad Dahal, Chairperson of the Parliamentary Finance Committee, “Extensive sharing of data, information and practical knowledge will help pinpoint the direction of future policies and refine our responsibilities as lawmakers.”

The World Bank is engaging the Nepali Parliament in various ways. Through the Integrated Public Financial Management (PFM) Project supported by the Multi-Donor Trust Fund (financed by Australia, Switzerland, DFID, EU, Norway and USAID), The World Bank is currently supporting the Parliament of Nepal through strengthening of the PFM capacity of technical staff in the Secretariat. Knowledge exchange opportunities will be provided to MPs within this program. Provincial Parliaments will also be progressively targeted since they can benefit from the expertise of the Federal Parliament to build their own.

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Africa Industrialization Day 2018 celebrated in Côte d’Ivoiren

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On the occasion of Africa Industrialization Day’s (AID) worldwide celebrations, the United Nations Industrial Development Organization (UNIDO) and Côte d’Ivoire’s Ministry of Trade, Industry and SME Promotion organized an event to discuss the importance of industrialization for the development of Africa with a particular focus on Côte d’Ivoire.

“Industrialization represents the best means to create more employment and to improve the living conditions of the population,” said Souleymane Diarrassouba, Côte d’Ivoire’s Minister of Trade, Industry and SME Promotion, during his welcome speech. “The government of Côte d’Ivoire, in collaboration with the financial and technical partners, is engaged in promoting the industrialization of the country.”

After reading a Joint Statement of the African Union Commission, the United Nation Economic Commission for Africa and UNIDO on the occasion of the AID event held in Vienna, Tidiane Boye, UNIDO’s Representative in Côte d’Ivoire, quoted UNIDO’s Director General, LI Yong: “AID 2018 represents an important occasion to raise awareness of the importance of a concerted programmatic approach to the promotion of rapid and inclusive industrialization in Africa.” Boye also paid tribute to H.E. Alassane Ouattara, President of the Republic of Côte d’Ivoire, for his engagement as Champion of the Third Industrial Development Decade for Africa.

The event was an opportunity to present the main findings of UNIDO’s Industrial Development Report 2018 – which focuses on the importance of demand as a driver of industrial development – and perspectives on the development of the pharmaceutical global value chain in Africa.

Nicola Cantore, UNIDO Research and Industrial Policy Officer, pointed out that under the right set of conditions, the consumption of manufactures can set in motion a virtuous circle of industrial development – comprising income creation, demand diversification and massification of consumption – but that this virtuous circle often requires specific policy measures to attain socially inclusive or environmentally sustainable industrialization.

”For Côte d’Ivoire, a gap still needs to be filled in terms of increasing the share of manufacturing exports in total exports and the technological contents of exports, which are still too dependent on primary goods,” Cantore said.

The social dimension of industrialization was well-captured by the presentation of Assane Coulibaly, UNIDO’s Lead ECOWAS Coordinator for Pharmaceuticals GMP Roadmap Initiative, who explained how the development of local capabilities in the pharmaceutical industry is a key step to ensure affordability and availability of medicines essential to the development of an effective health system.

The event was attended by representatives of the government and the private sector.

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World Bank Group Announces $50 billion over Five Years for Climate Adaptation and Resilience

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The World Bank Group today launched its Action Plan on Climate Change Adaptation and Resilience. Under the plan, the World Bank Group will ramp up direct adaptation climate finance to reach $50 billion over FY21–25. This financing level—an average of $10 billion a year—is more than double what was achieved during FY15-18. The World Bank Group will also pilot new approaches to increasing private finance for adaptation and resilience.

“Our new plan will put climate resilience on an equal footing with our investment in a low carbon future for the first time. We do this because, simply put, the climate is changing so we must mitigate and adapt at the same time,” said World Bank Chief Executive Officer Kristalina Georgieva.We will ramp up our funding to help people build a more resilient future, especially the poorest and most vulnerable who are most affected.”

The increase in adaptation financing will support activities that include:

  • Delivering higher quality forecasts, early warning systems and climate information services to better prepare 250 million people in at least 30 countries for climate risks;
  • Supporting 100 river basins with climate-informed management plans and/or improved river basin management governance;
  • Building more climate-responsive social protection systems; and
  • Supporting efforts in at least 20 countries to respond early to, and recover faster from, climate and disaster shocks through additional financial protection instruments.

In addition to boosting finance, the Plan will also support countries to mainstream approaches to systematically manage climate risks at every phase of policy planning, investment design, and implementation.

“This Action Plan is a welcome step from the World Bank,” said Ban Ki-moon, former Secretary-General of the United Nations and co-chair of the Global Commission on Adaptation. “The world’s poorest and most climate vulnerable countries stand to benefit from its increased finance and support for longer term policy change.”

The Action Plan builds on the link between adaptation and development by promoting effective and early actions that also provide positive development outcomes. For example, investing in mangrove replanting may protect a local community against sea level rise and storm surges, while also creating new opportunities for eco-tourism and fisheries. Early and proactive adaptation and resilience-building actions are more cost-effective than addressing impacts after they occur.

The Action Plan also includes the development of a new rating system to create incentives for, and improve the tracking of, global progress on adaptation and resilience. The new system will be piloted by the World Bank in FY19-20 and rolled out to projects in relevant sectors by FY21.

The Action Plan on Climate Change Adaptation and Resilience forms part of the World Bank Group’s 2025 Targets to Step Up Climate Action which were launched in December 2018, during the UN’s COP24 in Poland.

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