Connect with us

Newsdesk

ADB President Calls for Stronger Efforts to Fight Corruption

Newsroom

Published

on

Asian Development Bank (ADB) President Takehiko Nakao has called for increased efforts from ADB staff, member governments, and other development partners to help fight corruption, money laundering, and other illicit activities that derail economic development and the achievement of social equity in the Asia and Pacific region.

Mr. Nakao led the celebration of International Anticorruption Day held at ADB headquarters in Manila today. Nikos Passas, Professor of Criminology and Criminal Justice at Northeastern University in the United States, and Sayed Ikram Afzali, Executive Director of Integrity Watch Afghanistan, delivered keynote addresses.

“Corruption, money laundering, and tax evasion damage economic development as well as fairness among people. There is also a growing consensus that these activities are threats to the basic fabric of society, including safety and security,” said Mr. Nakao. “We have a professional obligation to fight these illicit activities. This fight is necessary to advance economic development in the Asia and Pacific region and to promote social equity.”

Global losses to corruption, money laundering, and tax evasion is estimated at $800 billion to $2 trillion every year—an amount that could instead be used by developing countries to achieve their Sustainable Development Goals commitments. Corruption also breeds organized crime and terrorism and poses a serious threat to safety and security, particularly for states considered fragile and conflict-affected, several of which are in Asia and the Pacific.

To combat these activities, ADB has adhered to zero-tolerance policies to prevent corrupt practices from negatively impacting ADB-supported projects. For instance, ADB introduced new rules in 2015 for both its sovereign and nonsovereign operations to ensure integrity due diligence for project partners and tightened controls for corruption, money laundering, and terrorist financing. In 2016, ADB updated its Anticorruption Policy to include the prevention of cross-border tax evasion.

ADB is also increasing its technical assistance to enhance the capacity of developing member countries to meet international standards for tax transparency, counter tax evasion, and protect themselves against aggressive forms of tax planning. In July this year, ADB established the Domestic Resource Mobilization Trust Fund with the support of the Government of Japan to help countries close tax loopholes in their financial sectors, enhance tax compliance, and develop transparent and effective tax administration.

Continue Reading
Comments

Newsdesk

UN sounds alarm as Venezuelan refugees and migrants passes three million mark

Newsroom

Published

on

The number of refugees and migrants who have left Venezuela worldwide has now reached three million, the two main United Nations agencies advocating for them announced on Thursday, flagging the need to increase support for the countries which are hosting large numbers of displaced Venezuelans.

According to the UN office for humanitarian coordination (OCHA), most of the 3 million are currently hosted by countries in Latin America and the Caribbean, accounting for about 2.4 million refugees and migrants from Venezuela. Colombia has the highest number with over one million, followed by Peru with half a million, Ecuador with some 220,000, and Argentina with 130,000.

In addition to South American countries, countries in Central America and the Caribbean also recorded increasing arrivals of refugees and migrants from Venezuela. Panama, for example, is now hosting 94,000 Venezuelans.

Commending these countries’ “open-door policy,” Eduardo Stein, who heads the joint effort on behalf of refugee agency UNHCR and migration agency IOM for Venezuelan refugees and migrants, noted however that “their reception capacity is severely strained,” and is “requiring a more robust and immediate response from the international community if this generosity and solidarity are to continue.”

UNHCR Special Envoy Angelina Jolie, noted during a recent visit to Peru, that every Venezuelan she had met described the situation in their country as “desperate,” adding that she heard “stories of people dying because of a lack of medical care and medicine… and tragic accounts of violence and persecution”.

With these rising numbers of families fleeing Venezuela, their basic needs have increased, along with the communities hosting them.

Governments in the region are leading the humanitarian response and working to coordinate efforts based on the Quito Declaration for example, adopted in September and which has been an important step towards a regional approach to scale up the response and harmonize policies.

To support this response, the UN and its partners have appealed for US$220 million to address the needs of 406,000 people across Colombia, Ecuador, Peru and Brazil. The UN Central Emergency Response Fund (CERF) allocated $17.2 million earlier this year.

In addition, a humanitarian regional response plan is underway to be launched in December, with a focus on four areas: direct emergency assistance, protection, socio-economic and cultural integration and capacity-building for governments of receiving countries.

The governments from the region are scheduled to meet again in Quito on 22 and 23 November to continue moving the regional process further.

Continue Reading

Newsdesk

Globalization Cannot Be Stopped – but It Can and Should Be Better

Newsroom

Published

on

Global GDP has doubled since 1990, but further global integration, while inevitable, must be accompanied by structural reforms that enable greater international cooperation as well as policies that support more inclusive, sustainable societies. This was the finding from the opening plenary of the Annual Meeting of the Global Future Councils which began today in Dubai, United Arab Emirates.

The purpose of the Annual Meeting of the Global Future Councils is to convene the world’s best network of experts to identify new ideas and models that can be applied to critical global challenges. In his opening remarks, Børge Brende, President of the World Economic Forum, told participants: “Globalization cannot be stopped, but it can be improved. It should be more inclusive, sustainable and job creating. We need to stop seeing trade as a weapon but instead see it as a strong, positive force for inclusive, poverty-eradicating growth.”

“Globalization’s future is no longer about physical trade. It is about knowledge, information and technology. Digital trade already accounts for 12% of international trade, and data flows are predicted to increase another fivefold by 2022. The result will inevitably be not less globalization but more, different, globalization,” he continued.

His Excellency Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs and the Future of the United Arab Emirates, in his opening address told participants: “The future belongs to those who can imagine it, shape it and implement it. In today’s world, governments cannot create the future singularly; it is important to involve everyone from the private sector to youth, international partners and others in creating policies.”

On the power of the emerging technologies of the Fourth Industrial Revolution to bring about a more inclusive and sustainable future, Al Gergawi said: “The collective mind provided by technology is much smarter than the individual mind. The wisdom of the crowd is a common saying; however, this saying is multiplied a thousand times when talking about and using technology.”

In a special televised session to mark the beginning of the meeting, Miroslav Lajcak, Minister of Foreign and European Affairs of Slovakia, told participants that any global architecture in the age of the Fourth Industrial Revolution needed to be shaped by greater cooperation between nations. “In my 30 years as a diplomat I see less and less dialogue. Even when leaders speak these days there are more monologues and less willingness to accept that they do not own the truth. What is needed is a platform where leaders can discuss openly and honestly where our planet is heading.”

Continue Reading

Newsdesk

Bali Conference discusses unlocking Industry 4.0 for Asia and the Pacific countries

Newsroom

Published

on

Organized by the Ministry of Industry, the Ministry of Foreign Affairs and the United Nations Industrial Development Organization (UNIDO), the first Regional Conference on Industrial Development opened today, with a focus on the evolving concept of Industry 4.0 and its impact on developing countries. Titled “Unlocking the Potential of Industry 4.0 for Developing Countries”, the Conference encouraged knowledge sharing to raise awareness about the challenges and opportunities of Industry 4.0, by promoting the sharing of good practices and lesson learned, and by identifying good policies and strategies. This will contribute to the implementation of Industry 4.0 and will strengthen the regional coordination within Asia and the Pacific.

On the sidelines of the Conference, Indonesian Minister of Industry Airlangga Hartanto and UNIDO Director General LI Yong signed the revised Country Programme, which reaffirmed the partnership commitment between the Government of Indonesia and UNIDO and which will help increase efficiency, effectiveness and funding possibilities. The revised Country Programme highlights the priorities of the Government, with the updated portfolio of ongoing and pipeline projects focusing, inter alia, on poverty alleviation, creative industries, innovation, quality standards, green industrial policy, water stewardship and Industry 4.0.

Continue Reading

Latest

Newsdesk4 hours ago

UN sounds alarm as Venezuelan refugees and migrants passes three million mark

The number of refugees and migrants who have left Venezuela worldwide has now reached three million, the two main United...

New Social Compact5 hours ago

Hunger and obesity in Latin America and the Caribbean compounded by inequality

For the third consecutive year, the number of those chronically hungry has increased in Latin America and the Caribbean, while...

Green Planet6 hours ago

Putting the brakes on fast fashion

Fashion revolves around the latest trends but is the industry behind the curve on the only trend that ultimately matters...

Terrorism7 hours ago

ISIL’s ‘legacy of terror’ in Iraq: UN verifies over 200 mass graves

Investigators have uncovered more than 200 mass graves containing thousands of bodies in areas of Iraq formerly controlled by the...

Reports10 hours ago

From unemployment to growing cyber-risk: Business executives have different worries

There are significant differences in risk perceptions across the eight regions covered in the World Economic Forum’s Regional Risks for...

Africa11 hours ago

South Sudan Need to invest in peace for economic development

The 2017 Global Peace Index (GPI) shows that despite continuing socio-economic and geopolitical turmoil in the world, there are more...

Americas1 day ago

Trust: Lessons from my Brazilian driver

Trust takes years to build, seconds to break, and forever to repair– Anonymous Be safe. That’s what we’re always told...

Trending

Copyright © 2018 Modern Diplomacy