For next year’s budget, MEPs have secured more support for unemployed young people and additional funding for SMEs, research programmes and Erasmus.
Commitment appropriations for 2018 total €160.1 billion, and payment appropriations €144.7 billion (see below).On the heels of the Council’s formal approval of the conciliation agreement with Parliament on the 2018 budget, Parliament approved the budget by 295 votes to 154, with 197 abstentions. It was then signed into law by President Antonio Tajani.
Youth, growth and jobs
Parliament reversed the Council’s €750 million cuts in the area of “growth and jobs”, and secured an increase for the Youth Employment Initiative of €116.7 million in commitment appropriations, raising the total to €350 million, to help young people desperately seeking a job. Furthermore, MEPs succeeded in securing new resources, on top of the Commission’s budget proposal, for programmes they consider key to boosting growth and jobs, namely Horizon 2020 (research programmes, an increase of €110 million) Erasmus+, (an additional €24 million) and COSME (support for SMEs, up by €15 million).
Refugee and migration crisis, cutting funds for Turkey
Parliament managed to boost the Commission’s draft budget for agencies with security-related tasks: Europol (gets an additional €3.7 million and 10 new posts) and Eurojust (receives €1.8 million more and 5 more posts).
To continue tackling the migration crisis, the European Asylum Support Office receives an increase of €5 million. Similarly, Parliament increased the budget heading by €80 million (on top of the draft budget) for the EU’s external actions on migration challenges, which include actions in the Eastern and Southern Neighbourhoods as well as the Western Balkans.
Concerning Turkey, MEPs decided to cut pre-accession funds by €105 million (with a further €70 million in commitments put in reserve), in response to the deteriorating situation in relation to democracy, rule of law and human rights.
Agriculture and climate protection
Parliament’s negotiating team obtained €34 million in additional support for young farmers to reduce youth unemployment in rural areas. Also, funds to support agricultural practices which benefit the climate and environment were increased by €95 million.
Members of the parliamentary negotiating team made the following statements after the votes:
“Parliament can be satisfied with the EU Budget for 2018. We found an agreement because our priorities were to boost the programmes which will prepare the EU for the future and protect Europeans – Research through Horizon 2020, mobility of the young through Erasmus+ and ErasmusPro, infrastructure programmes like the Connecting Europe Facility and support for SMEs through COSME. We also managed to boost funding for security-related programmes, asylum policy and Neighbourhood Policy”, said the Chair of the Budgets committee, Jean Arthuis (ALDE, FR).
“This budget delivers on what EU citizens expect from Europe: jobs and growth on the one hand and security on the other. By investing in research, infrastructure, education and SMEs, we will become more competitive and future-oriented. As for security, we have succeeded in strengthening Europol and Eurojust, so that they ensure better cooperation and coordination in fighting terrorism and organised crime across the EU. Finally, we have made it clear that EU support to countries outside the EU does not come without strings attached: Turkey is drifting away from EU values and we have decided to reduce assistance by 105 million Euros less than the Commission proposal”, said lead rapporteur (Commission section) Siegfried Mureșan (EPP, RO).
What are commitment and payment appropriations?
Given the need to manage actions spanning several years (e.g. financing a research project lasting 2-3 years), the EU budget distinguishes between commitment appropriations (the cost of all legal obligations contracted during the current financial year, possibly bearing consequences in the following years) and payment appropriations (money actually paid out during the current year, possibly to implement commitments entered into in previous years).
Knowledge Exchange Program between World Bank and Parliamentarians of Nepal
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.
Africa Industrialization Day 2018 celebrated in Côte d’Ivoiren
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.
World Bank Group Announces $50 billion over Five Years for Climate Adaptation and Resilience
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.
Risks to Global Businesses from New Era of Epidemics Rival Climate Change
The World Economic Forum, in collaboration with the Harvard Global Health Institute, today released a white paper that details why...
Diving into a cleaner blue ocean in 2019
When Miao Wang started diving, she was shocked at the deterioration of the ocean ecosystem around her. Now, three months...
Negotiations on Kosovo 2019: Opportunities and Limitations for Russia
Authors: Ekaterina Entina and Dejan Novakovic In early 2018, negotiations on Kosovo seemed to be progressively moving towards their final...
Will the world have to choose between US and China?
As the US-China trade war heats up, more and more experts tend to believe that the world may be heading...
Induction of Pakistan A-100 MLRS and Deterrence Equation of South Asia
Pakistan inducted A-100 rocket in Multiple Launch Rocket System (MLRS) into its arsenals, boosting the strength of Artillery Crop on...
The Marriage of Social Media and Social Justice
The aggressive use of different online platforms during electoral campaigns has made it evident that many political leaders are widely...
10 Reasons to Fall in Love with Athens
Athens has hit a new stride thanks to a glorious revival in art, food and architecture that has been underway...
- Centre and Calm Yourself and Spirit on Restorative Yoga Energy Trail
- Queen Rania of Jordan Wears Ralph & Russo Ready-To-Wear
- OMEGA watches land on-screen in Universal Pictures’ new film First Man
- Experience the Prada Parfum’s Way of Travelling at Qatar Duty Free
- ‘Get Carried Away’ With Luxurious Villa Stays and Complimentary Private Jet Flights
South Asia3 days ago
Pakistan Securing Its Maritime Interest and CPEC
South Asia2 days ago
Will Pakistan go to IMF finally?
Africa3 days ago
The Endless Debate about Russia’s Policy in Africa
Defense2 days ago
Rising geopolitical and geo-economic tensions are the most urgent risk in 2019
Reports2 days ago
Renewable Energy the Most Competitive Source of New Power Generation in GCC
Newsdesk2 days ago
World Bank Group Announces $50 billion over Five Years for Climate Adaptation and Resilience
East Asia2 days ago
China’s Soft Power Diplomacy on North Korean Nuclear Crisis
Europe2 days ago
Why Tony Blair is so angry?