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ADB 2017 Operations Reach $28.9 Billion

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Asian Development Bank (ADB) operations—comprising approvals of loans and grants, technical assistance (TA), and cofinancing—reached $28.9 billion in 2017 in its continued efforts to help meet Asia and the Pacific’s development needs, according to preliminary figures released today.

Approvals of loans and grants from ADB’s own resources reached a record $19.1 billion, representing a 9% increase from the $17.5 billion seen in 2016. This puts ADB well on its way to meet its $20 billion target by 2020. Of the total, nonsovereign (primarily private sector) operations accounted for $3.2 billion, a 26% increase from $2.5 billion in 2016. TA, meanwhile, increased by about 22% to $205 million from $169 million in the previous year.

Commitments (the amount of loans and grants signed)—ADB’s new performance measure—reached $20.1 billion. This is a significant increase from $13.3 billion in 2016, reflecting the signing of large projects approved in 2016 and 2017.

“The strong figures for ADB operations in the past year were supported by the successful merger of ADB’s concessional Asian Development Fund lending operations with the Ordinary Capital Resources balance sheet—which took effect at the start of 2017,” ADB President Takehiko Nakao said. “This will allow us to deliver a much higher level of assistance to our developing member countries for years to come without seeking a capital increase.”

A highlight of ADB’s operational figures for 2017 is climate financing, which reached a record $4.5 billion (comprising mitigation $3.6 billion and adaptation $0.9 billion), a 21% increase from 2016. This puts ADB in a good position to achieve its $6 billion climate financing target by 2020.

Cofinancing approvals declined to $9.5 billion in 2017 from the $13.9 billion recorded in 2016, partly due to the delay of large expected cofinanced projects. Disbursements were $11.7 billion in 2017, compared to $12.7 billion in 2016. This is because of lower approvals, and hence disbursements, of policy-based lending and counter-cyclical support facility, among other factors.

“Disbursements are essential to make a difference on the ground. Cofinancing and catalyzation is a much-discussed strategy in the international community to realize the Sustainable Development Goals,” said Mr. Nakao. “ADB will come up with additional concrete measures to increase disbursements and cofinancing, building on the new procurement policy approved in April 2017 and ongoing efforts to leverage resources.”

Among ADB’s other operational highlights were projects that combine finance with innovative approaches to development, including satellite data and remote sensing to improve irrigation in Indonesia and Pakistan, pilot testing of climate-smart agriculture practices in Bangladesh, and supporting social welfare reforms in Mongolia to promote human development.

An innovative $100 million TA loan to the Philippines, approved in October 2017, will help the government prepare and deliver infrastructure projects under its Build Build Build program.

On the funding side, ADB offered new and innovative thematic products such as the health bond and gender bond. This is on top of increased efforts to raise local currency funding to meet the growing demand for nonsovereign local currency loans. ADB’s Indonesian rupiah bond in December was the first bond issued from a multilateral development bank of which Indonesia is a shareholder.

ADB launched three high-impact publications in 2017. Meeting Asia’s Infrastructure Needs estimated Asia and the Pacific’s annual infrastructure needs at $1.7 trillion per year until 2030. A Region at Risk: The Human Dimensions of Climate Change in Asia and the Pacific put forward scenarios of the devastating effects of climate change. The ADB history book, Banking on the Future of Asia and the Pacific focused on the region’s economic development, the evolution of the international development agenda, and the story of ADB over 50 years.

To scale up the bank’s operations with quality, the ADB Board approved the 2018 budget totaling $672.3 million, an increase of 3.9% over 2017, comprising 2.2% price growth and 1.7% volume growth. This budget supports the ongoing investments in IT reforms and organizational resilience. ADB continues to make its utmost efforts at staff optimization and efficiency measures.

A key priority for ADB in 2018 is to finalize its new corporate strategy, Strategy 2030. ADB’s 51st Annual Meeting of its Board of Governors will be held in Manila again in May after 6 years. Strategy 2030, the impact of technological change and globalization on jobs, aging and longevity dividends, role of women entrepreneurs, and private sector participation in infrastructure development will be among the topics discussed. ADB expects more than 3,000 participants to attend the meeting.

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UN mourns death of former Secretary-General Kofi Annan, ‘a guiding force for good’

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Kofi Annan was the seventh Secretary-General of the United Nations. In this photo from 2003, he is addressing reporters at Headquarters. UN Photo/Evan Schneider

The United Nations is mourning the death of former Secretary-General Kofi Annan, who passed away peacefully after a short illness, according to a statement published on his official Twitter account on Saturday. The renowned Ghanain diplomat was 80 years old.

The current UN chief, Antonio Guterres hailed him as “a guiding force for good” and a “proud son of Africa who became a global champion for peace and all humanity.”

“Like so many, I was proud to call Kofi Annan a good friend and mentor. I was deeply honoured by his trust in selecting me to serve as UN High Commissioner for Refugees under his leadership. He remained someone I could always turn to for counsel and wisdom — and I know I was not alone,” Mr. Guterres said in a statement.

“He provided people everywhere with a space for dialogue, a place for problem-solving and a path to a better world.  In these turbulent and trying times, he never stopped working to give life to the values of the United Nations Charter. His legacy will remain a true inspiration for all us.”

Kofi Annan was born in Kamasi, Ghana, on 8 April 1938.

He joined the UN system in 1962 as an administrative and budget officer with the World Health Organization in Geneva, rising through the ranks to hold senior-level posts in areas such as budget and finance, and peacekeeping.

He served as UN Secretary-General for two consecutive five-year terms, beginning in January 1997.

Mr. Annan joined the UN system in 1962 as an administrative and budget officer with the World Health Organization (WHO) in Geneva, rising to hold senior-level posts in areas such as budget and finance, and peacekeeping.

As Mr. Guterres noted: “In many ways, Kofi Annan was the United Nations. He rose through the ranks to lead the organization into the new millennium with matchless dignity and determination.”

From his beginnings in Geneva, Mr. Annan held UN posts in places such as Ethiopia, Egypt, the former Yugoslavia and at Headquarters in New York.

Following Iraq’s invasion of Kuwait in 1990, he was tasked with facilitating the repatriation of more than 900 international staff as well as the release of Western hostages.

He later led the first UN team negotiating with Iraq on the sale of oil to fund purchases of humanitarian aid.

Immediately prior to his appointment as Secretary-General in January 1997, Mr. Annan headed the UN Department of Peacekeeping Operations during a period which saw an unprecedented growth in the Organization’s field presence.

His first major initiative as UN chief was a plan for UN reform, presented to Member States in July 1997.

Mr. Annan used his office to advocate for human rights, the rule of law, development and Africa, and he worked to bring the UN closer to people worldwide by forging ties with civil society, the private sector and other partners.

As Secretary-General, he also galvanized global action to fight HIV/AIDS and combat terrorism.

Mr. Annan and the United Nations jointly were awarded the Nobel Peace Prize in 2001.

In his farewell statement to the UN General Assembly in December 2006, Kofi Annan expressed emotion over leaving what he called “this mountain with its bracing winds and global views.”

Although the job had been difficult and challenging, he admitted that it was also “thrillingly rewarding” at times.

“And while I look forward to resting my shoulder from those stubborn rocks in the next phase of my life, I know I shall miss the mountain,” he said.

However, Mr. Annan did not rest, taking on the role of UN Special Envoy for Syria in the wake of the conflict which began in March 2011.

He also chaired an Advisory Commission established by Myanmar in 2016 to improve the welfare of all people in Rakhine state, home to the minority Rohingya community.

His homeland, Ghana, established an international peacekeeping training centre that bears his name, which was commissioned in 2004.

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Waste-to-energy and circular economy workshops to be held in Uruguay

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photo: UNIDO

The Secretariat of the United Nations Framework Convention on Climate Change (UNFCCC), the United Nations Industrial Development Organization (UNIDO), the Technology Executive Committee (TEC), and the Climate Technology Centre and Network (CTCN) are organizing two workshops during the Latin America & Caribbean Climate Week (LACCW), which will take place between 20 and 23 August in Montevideo. The sessions, titled: “Enabling circular economy solutions to boost climate action” and “Enabling waste-to-energy, industrial waste reuse and prevention solutions to achieve circular economy and boost climate action”, will be held as part of the Regional Technical Expert Meetings on Mitigation (TEMs-M) and the Marrakech Partnership for Global Climate Action.

The first workshop will present the concept of “circular economy”, an alternative to a traditional linear economy (make, use and dispose), which is restorative and regenerative by design and redefines products and services to design waste out, being ultimately powered by renewables. The second workshop will then discuss how waste-to-energy, industrial waste reuse and prevention solutions are integral parts to achieving a circular economy and its associated economic and environmental benefits.

The events will bring together members from the civil society, UN agencies and financial institutions. The high-impact case studies presented will serve as a basis for discussion on the vision/goal in terms of harnessing mitigation potential and co-benefits of circular economy related policies, practices and actions as well as on innovative approaches to waste-to-energy and waste reuse/prevention that are actionable in the short term for the region. Participants will learn the necessary elements for replication and upscaling of circular economy and specifically waste-to-energy solutions, such as policy, partnerships and the need of financial, technical and capacity building resources.

Manuel Albaladejo, UNIDO Representative in Uruguay, said, “It is important to understand that the circular economy starts at the design stage and that profitability rarely comes by bending a linear model into a circular one.”

With the Latin America Carbon Forum as a cornerstone event, the focus of Latin America & Caribbean Climate Week (LACCW) will be placed on market-based approaches, economic instruments and climate-aligned finance to drive investment in climate action.

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Multilateralism: The only path to address the world’s troubles

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Secretary-General António Guterres (center) meets with Rohingya refugees in Cox’s Bazaar, Bangladesh. Photo: UNFPA Bangladesh/Allison Joyce

As the world’s problems grow, multilateralism represents to best path to meet the challenges that lie ahead, said United Nations Secretary-General António Guterres on Tuesday, launching his annual report.

The Report of the Secretary-General on the Work of the Organization  for 2018, also tracks the progress made over the last year in maintaining peace and security, protecting human rights, and promoting sustainable development.

“I started my tenure calling for 2017 to be a year of peace, yet peace remains elusive,” said the UN chief in the report’s introduction, noting that since January last year “conflicts have deepened, with grave violations of human rights and humanitarian law; inequality has risen, intolerance has spread, discrimination against women remains entrenched and the impacts of climate change continue to accelerate.”

“We need unity and courage in setting the world on track towards a better future,” stressed Mr. Guterres, crediting the Sustainable Development Goals (SDGs) for generating coordinated efforts by Member States and civil society to “alleviate poverty and build peaceful, prosperous and inclusive societies.”

Wide-ranging reform

The most comprehensive reform of the UN development system in decades already underway, led by Mr. Guterres and his deputy, Amina Mohammed, aims to strengthen the Organization’s capacity to support Member States in achieving the 17 SDGs.

While the report points to gains, such as increased labour productivity, access to electricity and strengthened internet governance, it also illustrates that progress has been uneven and too slow to meet the 2030 Agenda for Sustainable Development Goals within the given time frame.

For example, in 2015, three out of 10 people did not have access to safe drinking water, and  60 per cent lacked safe sanitation. Moreover conflicts, disasters and climate change are also adversely affecting populations.

The report underlines the importance of building stronger multilateral partnerships with Member States; regional and international organizations; and civil society; to “find solutions to global problems that no nation alone can resolve.”

Although the 2018 High-Level Political Forum on Sustainable Development of 2018 reflected some positive initiatives, it also showed the urgent need to step up efforts in areas such as energy cooperation, water and terrestrial ecosystems.

According to the report, “partnerships are key to achieving the SDGs” – and as of June, 3,834 partnerships had been registered with the Partnerships for the SDGs online platform from different sectors across all the 17 goals.

With regard to technology, last October a joint meeting of the Economic and Social Council (ECOSOC) and the Second Committee welcomed Sophia, the first robot to sit on a UN panel. This gave a glimpse into the advances being made in the realm of Artificial Intelligence.

Turning to young people, UN Youth Envoy, Jayathma Wickramanayake, of Sri Lanka, is continuously advocating for their needs and rights, including in decision-making processes at all levels, and in strengthening the UN system’s coordination on delivering for youth, and with their increased participation.

The UN report also spoke to the growing scale, complexity and impact of global migration. In July, the General Assembly agreed a Global Compact for Safe, Orderly and Regular Migration, which will be presented for adoption in December at an Intergovernmental Conference in Morocco.

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